Examples of Nonmaterial Depreciation in a sentence
This Judgment does not release and determine: (i) claims arising after the Effective Date; (ii) claims for valuation or payment of a Covered Loss under any property insurance policies issued by Defendants not related to the withholding of payment for Nonmaterial Depreciation; and (iii) Class Members’ rights and obligations under the Agreement.
If the underlying claim satisfies (i), (ii), and (iii) in Section 7.6.1 above, but does not satisfy (iv), then the Claim Settlement Payment shall be the depreciation determined by Xactimate that was not paid, multiplied by the ratio of Nonmaterial Depreciation to all Depreciation determined by Xactimate, plus interest of 5%.
Without admitting any liability or wrongdoing, Defendants agree to the terms of this Agreement, provided that Final Judgment approving the Settlement is entered and all Released Claims are settled, compromised, and released, in order to resolve all issues relating to Nonmaterial Depreciation that were asserted, or that could have been asserted, in the Action.
ACV Payment” is calculated by estimating the replacement cost value of the covered damage for a Structural Loss claim and subtracting the estimated Depreciation, including Nonmaterial Depreciation, and any applicable deductible.
Covered Loss” means a first party insurance claim for Structural Loss that: (a) occurred during the Class Periods, and (b) resulted in an ACV Payment by State Auto, or that would have resulted in an ACV Payment, but for the withholding of Nonmaterial Depreciation causing the loss to drop below the applicable deductible.
Class Counsel submit that they have significant experience with Nonmaterial Depreciation claims, having represented insureds in numerous putative class actions.
The Class includes: the Representative Plaintiffs and all other certain policyholders under commercial property insurance policies issued by GNY, who made a Structural Loss claim for property located in the State of Illinois during the applicable Class Periods that resulted in an ACV Payment from which Nonmaterial Depreciation was withheld, or that would have resulted in an ACV Payment but for the withholding of Nonmaterial Depreciation causing the loss to drop below the applicable deductible.
In organisations where exploration is necessary process management activities has to be separated from these exploratory activities, in order to generate the space which exploration, require (MackAldener & Stetler, 2015).
Plaintiff filed the operative complaint, the Class Action Complaint (the “Complaint”), alleging that Defendant violated applicable law and breached its contracts by improperly deducting Nonmaterial Depreciation from actual cash value payments when adjusting Structural Loss Claims under Kentucky, Mississippi, Ohio, and Tennessee property insurance policies.
The tenure of office of all officers of the corporation shall be for one year, with the election of officers to be held at the regular meeting of the Board of Directors in April.