Loss adjustment definition

Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. In determining the loss adjustment for a tax year, a taxpayer is not required to use more of the taxpayer's total negative adjusted business income than the amount needed to qualify the taxpayer for the credit under this section. A taxpayer shall not be considered to have used any portion of the taxpayer's negative adjusted business income amount unless the portion used is necessary to qualify for the credit under this section. A taxpayer shall not reuse a negative adjusted business income amount used as a loss adjustment in a previous tax year or use a negative adjusted business income amount from a year in which the taxpayer did not receive the credit under this section.
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Loss adjustment has the meaning set forth in Section 5.12(g) of this Agreement.
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Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. . . .
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Examples of Loss adjustment in a sentence

  • Loss adjustment factors include but are not limited to loss development factors, frequency trend factors, and severity trend factors.

  • Loss adjustment expenses including, but not limited to, auditors, consultants and accountants.

  • Loss adjustment" means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined.

  • Loss adjustment expenses not classified as a cost containment expense.

  • Loss adjustment expense is statutorily set at 5% of losses recoverable from the FHCF.

  • Loss adjustment needed for current return..........................

  • LOBIndustry Countrywide Expense RatiosIndustry LOBCompany Countrywide Expense RatiosCompany PPA Liab = Private Passenger Automobile LiabilityPPA PD = Private Passenger Automobile Physical Damage HO = Homeowners Multiple PerilCA Liab = Commercial Automobile LiabilityCA PD = Commercial Automobile Physical Damage CMP = Commercial Multiple PerilLAE = Loss adjustment expenseAcq.

  • Loss adjustment activities are any activities outlined in this handbook, of which the persons listed in (2) are prohibited from doing, unless otherwise stated in this handbook.

  • Loss adjustment expenses (“LAE”) are recorded by the Company in regard to insurance guaranties when costs are incurred or expected to be incurred to remediate probable losses under its policies.

  • Loss adjustment activities would also include any revisions or additions to the contents of this handbook via Manager’s Bulletins.


More Definitions of Loss adjustment

Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 tax years immediately preceding the tax year for which eligibility for the credit under this section is being determined. In determining the loss adjustment for a tax year, a corporation is not required to use more of the taxpayer’s total negative adjusted business income than the amount needed to qualify the corporation for the credit under this section. A corporation shall not be considered to have used any portion of the taxpayer’s negative adjusted business income amount unless the portion used is necessary to qualify for the credit under this section. A corporation shall not reuse a negative adjusted business income amount used as a loss adjustment in a previous tax year or use a negative adjusted business income amount from a year in which the corporation did not receive the credit under this section.
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Loss adjustment shall equal the amount of any Losses for which Acquiror Indemnified Persons are entitled to indemnification pursuant to Section 9.02. The Company will use its best efforts to close its books and records for the period ending on the Closing Date within five (5) days after the Closing Date and shall deliver to the Acquiror or, at the request of the Acquiror, to Acquiror and Xxxxxx Xxxxxxxx LLP, such books and records as shall be requested by Acquiror or Xxxxxx Xxxxxxxx LLP to enable Xxxxxx Xxxxxxxx LLP to perform an audit of the consolidated financial statements of the Company as of the Closing Date and to determine the amount of the Closing Adjustment and the Loss Adjustment. Upon receipt of such books and records, the Acquiror shall use its best efforts to cause Xxxxxx Xxxxxxxx LLP to complete an audit of the consolidated financial statements of the Company in order to provide Acquiror the information necessary to calculate the amount of the Closing Adjustment and the Loss Adjustment within sixty (60) days following receipt of the books and records of the Company. Acquiror shall deliver to the Stockholders' Representatives a draft copy of such audited financial statements and the draft determination of the amount of the Closing Adjustment and the Loss Adjustment promptly upon receipt of such items from Xxxxxx Xxxxxxxx LLP. The Stockholders' Representatives shall have the right to review and copy the computations and review workpapers used in connection with the preparation of the audited financial statements after providing Xxxxxx Xxxxxxxx LLP with written releases reasonably acceptable to Xxxxxx Xxxxxxxx LLP and the computation of the Closing Adjustment and the Loss Adjustment. If the Stockholders' Representatives disagree with the determination of the Closing Adjustment or the Loss Adjustment, the Stockholders' Representatives shall so notify the Acquiror in writing within ten (10) days after the date of their receipt of the audited financial statements and the computation of the Closing Adjustment and the Loss Adjustment, specifying in detail any point of disagreement; PROVIDED, HOWEVER, that if the Stockholders' Representatives fail to notify the Acquiror in writing of the Stockholders' Representatives' disagreement within such ten (10) day period, the determination of the Closing Adjustment and the Loss Adjustment shall be final, conclusive and binding on the Parties for purposes of determining the amount of the Escrow Stock to be delivered to Company...
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Loss adjustment means the sum of Forty Thousand Dollars ($40,000.00).
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Loss adjustment. Annual experience prior to 1956 was not available, but MetLife maintained a LOB surplus account that established the amount of cumulative losses for the individual medical line as of December 31, 1995. The loss per $1 premium for policies issued 1952 through 1955 was determined by distributing this negative surplus for the LOB as of December 31, 1955 equally over the four years and dividing by the 1956 premium. Negative surplus, available from MetLife records as of December 31, 1959 was adjusted back to December 31, 1955 using model losses for the interim years.
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Loss adjustment means the amount by which adjusted business income was less than zero in any of the 5 years immediately preceding the tax year for which the eligibility for this credit is being determined. In determining the loss adjustment in a previous year, a negative adjusted business income amount can not be carried from a year in which the taxpayer did not receive a small business credit. (MCL 208.36(1)(e))
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Related to Loss adjustment

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Loss Adjustment Expenses means all costs and expenses incurred by the Company in the investigation, adjustment and settlement of claims. Loss adjustment expenses include third-party costs as well as the Company’s internal expenses, including salaries and expenses of loss management personnel and certain administrative costs.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • Basis Adjustment means the adjustment to the tax basis of an Original Asset under Sections 743(b) and 754 of the Code and comparable sections of state and local tax laws (as calculated under Section 2.01 of this Agreement) as a result of an Exchange and the payments made pursuant to this Agreement.

  • Loss Amount means the dollar amount of loss incurred and reported on the Monthly Certificate for a Shared-Loss Loan.

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • Shared-Loss Amount has the meaning provided in Section 2.1(b)(i) of this Commercial Shared-Loss Agreement.

  • Applied Loss Amount With respect to any Distribution Date, the amount, if any, by which (x) the aggregate Certificate Principal Amount of the Certificates after giving effect to all Realized Losses incurred with respect to the Mortgage Loans during the related Collection Period and distributions of principal on such Distribution Date, but before giving effect to any application of the Applied Loss Amount with respect to such date, exceeds (y) the Pool Balance for such Distribution Date.

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Liquidation Loss Amount With respect to any Payment Date and any Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, the unrecovered portion of the Principal Balance of such Mortgage Loan and any unpaid accrued interest thereon at the end of such Collection Period, after giving effect to the Net Liquidation Proceeds applied in reduction of such Principal Balance.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Cram Down Loss means, with respect to any Receivable (other than a Defaulted Receivable) as to which any court in any bankruptcy, insolvency or other similar proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the greater of (i) the amount of the principal reduction ordered by such court and (ii) the difference between the Principal Balance of such Receivable at the time of such court order and the net present value (using a discount rate which is the higher of the Contract Rate of such Receivable or the rate of interest specified by such court order) of the remaining scheduled payments to be paid on such Receivable as modified or restructured. A “Cram Down Loss” will be deemed to have occurred on the date of issuance of such court’s order.

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • Unrealized losses means the fair market value of the cost to such Person of replacing such Rate Management Transaction as of the date of determination (assuming the Rate Management Transaction were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date).

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.