Extra-Contractual Damages definition

Extra-Contractual Damages means any actual liabilities not covered under any provision of a Subject Contract, arising from or relating to any alleged or actual act, error or omission, or from any alleged or actual negligence, tortious conduct, reckless conduct, violations of statutes or regulations governing the conduct of insurance companies and/or claims adjusters, or bad faith but only in connection with the handling of any claim under a Subject Contract, such liabilities arising because of the following: failure by an Insurer Subsidiary of Agency Markets to properly investigate a claim under a Subject Contract, settle within the policy limit of a Subject Contract, or by reason of alleged or actual negligence or bad faith of an Insurer Subsidiary of Agency Markets in rejecting an offer of settlement, or in defending litigation, including appeals, arbitration, or any alternative dispute resolution or settlement discussions involving any claim, but only to the extent indemnification under this Agreement for any such Extra-Contractual Damages is permitted by Applicable Law. “Governmental Entity” shall mean any federal, state, county, local, foreign or other governmental or public agency, instrumentality, commission, authority, self-regulatory organization, board or body, including any state insurance regulatory authority. “IBNR” shall mean provisions for reserves under Subject Contracts for losses that have occurred but have not been reported to the Insurer Subsidiaries of Agency Markets. “Indemnification Amount” shall have the meaning set forth in Section 2.1(b) hereof. “Insurer Subsidiaries” shall mean all corporations, partnerships, joint ventures, and other entities engaged in the business of underwriting insurance (i) in which a Person owns, directly or indirectly, fifty percent (50%) or more of the outstanding voting stock, voting power, partnership interests or similar ownership interests, (ii) of which such Person otherwise directly or indirectly controls or directs the policies or operations or (iii) which would be considered subsidiaries of the Person within the meaning of Regulation S-K or Regulation S-X; provided, however, the term Insurance Subsidiary when used with regard to LMIC shall not include any of Agency Markets’ Insurer Subsidiaries. “LMIC” shall have the meaning set forth in the preamble to this Agreement. 3
Sample 1
Extra-Contractual Damages means any actual liabilities not covered under any provision of a Subject Contract, arising from or relating to any alleged or actual act, error or omission, or from any alleged or actual negligence, tortious conduct, reckless conduct, violations of statutes or regulations governing the conduct of insurance companies and/or claims adjusters, or bad faith but only in connection with the handling of any claim under a Subject Contract, such liabilities arising because of the following: failure by an Insurer Subsidiary of Agency Markets to properly investigate a claim under a Subject Contract, settle within the policy limit of a Subject Contract, or by reason of alleged or actual negligence or bad faith of an Insurer Subsidiary of Agency Markets in rejecting an offer of settlement, or in defending litigation, including appeals, arbitration, or any alternative dispute resolution or settlement discussions involving any claim, but only to the extent indemnification under this Agreement for any such Extra-Contractual Damages is permitted by Applicable Law.
Sample 1
Extra-Contractual Damages. Any amount in excess of Contractual Damages, including but not limited to compensatory, consequential, exemplary and punitive damages, judicial or statutory interest payments, court costs, or attorney fees. Foreign Life/Lives (as used in Article I and Schedule A): for purposes of this Agreement, Foreign Life/Lives shall mean that the insured was not a resident of the United States, Puerto Rico or Guam at the time the policy was issued, and that insured shall remain a Foreign Life regardless of future residency changes.
Sample 1

Examples of Extra-Contractual Damages in a sentence

  • Therefore, for the reasons stated, we find this issue to be without merit.C. Extra-Contractual Damages.

  • Having considered Safeco’s motion, the response and reply thereto, the evidentiary record, and governing law, the undersigned recommends that Defendant Safeco Insurance Company of Indiana’s Motion for Summary Judgment Regarding Extra-Contractual Claims, Extra-Contractual Damages, Treble Damages, and Exemplary Damages [#34] be GRANTED.

  • Aromondo, The Surety’s Liability of “Bad Faith”:Claims for Extra-Contractual Damages by an Obligee under the Payment Bond, 47 Me. L.

Related to Extra-Contractual Damages

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • Environmental Damages means all claims, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim, including, without limitation, attorney’s fees, that are incurred at any time as a result of the existence of Environmental Conditions upon, about or beneath the Project Site or migrating or threatening to migrate to or from the Site, and including, without limitation:

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Damages means any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney's fees and disbursements and costs and expenses of expert witnesses and investigation).

  • Direct Damage has the meaning given to it in clause 26.2;

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • The Contractor or Contractors means the firm, company or person engaged by the SBIIMS to carry out the work. It shall also include their legal representative(s), successors or assigns.

  • Noneconomic damages ’ means damages for phys-

  • Contractor Parties means a Contractor’s members, directors, officers, shareholders, partners, managers, principal officers, representatives, agents, servants, consultants, employees or any one of them or any other person or entity with whom the Contractor is in privity of oral or written contract (e.g. subcontractor) and the Contractor intends for such other person or entity to perform under the Contract in any capacity. For the purpose of this Contract, vendors of support services, not otherwise known as human service providers or educators, shall not be considered subcontractors, e.g. lawn care, unless such activity is considered part of a training, vocational or educational program.

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • Buyer Losses shall have the meaning set forth in Section 8.2.

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Compensable injury means an injury by accident arising out of and in the course of hazardous employment which must be established by medical evidence supported by objective medical findings.

  • Breach of Contract means the failure of a Party to perform any of its obligations in accordance with this Contract, in whole or in part or in a timely or satisfactory manner. The institution of proceedings under any bankruptcy, insolvency, reorganization or similar law, by or against Contractor, or the appointment of a receiver or similar officer for Contractor or any of its property, which is not vacated or fully stayed within 30 days after the institution of such proceeding, shall also constitute a breach. If Contractor is debarred or suspended under §24-109-105, C.R.S. at any time during the term of this Contract, then such debarment or suspension shall constitute a breach.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;