Common use of Allocation of Recoveries Clause in Contracts

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy which would be required to be maintained by such party under a single insured policy (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7). (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy which would be required to be maintained by such party under a single insured policy (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1. (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyFidelity Bond, each such party shall receive that portion an equitable and proportionate share of the recovery which represents recovery, but investment companies shall receive an amount at least equal to the loss sustained by that party, unless the recovery is inadequate to fully indemnify amount such party sustaining losswould have received had it provided and maintained a single insured bond with the minimum coverage as required by Rule 17g-1 under the Act. (b) If the recovery is inadequate to indemnify fully indemnify each such party sustaining a loss, then the recovery shall be allocated among such parties as follows: (i) Each Party such party sustaining a loss shall be allocated an amount equal to the lesser of its that party's actual loss or an amount that would have been received had the minimum amount of policy which would be required to be maintained by such party been insured under a single insured policy bond (determined as of the time of the loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1(d)(1) under the Act. (ii) The remaining portion of the proceeds shall be allocated to each such party sustaining a loss not fully covered by the allocation under subparagraph (i) 2(b)(i), above, in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which that had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyFidelity Bond, each such party shall receive that portion an equitable and proportionate share of the recovery which represents recovery, but investment companies shall receive an amount at least equal to the loss sustained by that party, unless the recovery is inadequate to fully indemnify amount such party sustaining losswould have received had it provided and maintained a single insured bond with the minimum coverage as required by Rule 17g-1 under the Act. (b) If the recovery is inadequate to indemnify fully indemnify each such party sustaining a loss, then the recovery shall be allocated among such parties as follows: (i) Each Party such party sustaining a loss shall be allocated an amount equal to the lesser of its that party’s actual loss or an amount that would have been received had the minimum amount of policy which would be required to be maintained by such party been insured under a single insured policy bond (determined as of the time of the loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1(d)(1) under the Act. (ii) The remaining portion of the proceeds shall be allocated to each such party sustaining a loss not fully covered by the allocation under subparagraph (i) 2(b)(i), above, in the proportion that each such party's ’s last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which that had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's ’s last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy which would be required to be maintained by such party under a single insured policy (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7). (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's ’s last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's ’s last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyBond, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy Bond, which would be required to be maintained by such party under a single insured policy Bond (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1. (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party party, which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyFidelity Bond, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to indemnify fully indemnify such party sustaining a loss. (b) If the recovery is inadequate to indemnify fully indemnify each such party sustaining a loss, then the recovery shall be allocated among such parties as follows: (i) Each Party such party sustaining a loss shall be allocated an amount equal to the lesser of its that party's actual loss or the minimum amount of policy bond which would be required to be maintained by such party under a single insured policy bond (determined as of the time of the loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-l(d)(1) under the 1940 Act. (ii) The remaining portion of the proceeds shall be allocated to each such party sustaining a loss not fully covered by the allocation under subparagraph (i) 2(b)(i), above, in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyFidelity Bond, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to indemnify fully indemnify such party sustaining a loss. (b) If the recovery is inadequate to indemnify fully indemnify each such party sustaining a loss, then the recovery shall be allocated among such parties as follows: (i) Each Party such party sustaining a loss shall be allocated an amount equal to the lesser of its that party's actual loss or the minimum amount of policy bond which would be required to be maintained m a intained by such party under a single insured policy bond (determined as of the time of the loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-l(d)(1) under the 1940 Act. (ii) The remaining portion of the proceeds shall be allocated to each such party sustaining a loss not fully covered by the allocation under subparagraph (i) 2(b)(i), above, in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy which would be required to be maintained by such party under a single insured policy (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1. (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's ’s last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's ’s last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policyFidelity Bond, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to indemnify fully indemnify such party sustaining a loss. (b) If the recovery is inadequate to indemnify fully indemnify each such party sustaining a loss, then the recovery shall be allocated among such parties as follows: (i) Each Party such party sustaining a loss shall be allocated an amount equal to the lesser of its that party's actual loss or the minimum amount of policy bond which would be required to be maintained by such party under a single insured policy bond (determined as of the time of the loss) in accordance with the provisions of Rule 17d-1(d)(7)17g-1(d)(l) under the 1940 Act. (ii) The remaining portion of the proceeds shall be allocated to each such party sustaining a loss not fully covered by the allocation under subparagraph (i) 2(b)(i), above, in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.

Allocation of Recoveries. (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss. (b) If the recovery is inadequate to fully indemnify each such party sustaining a loss, the recovery shall be allocated among such parties as follows: (i) Each Party sustaining a loss shall be allocated an amount equal to the lesser of its actual loss or the minimum amount of policy which would be required to be maintained by such party under a single insured policy (determined as of the time of loss) in accordance with the provisions of Rule 17d-1(d)(7).17g-l. (ii) The remaining portion of the proceeds shall be allocated to each party sustaining a loss not fully covered by the allocation under subparagraph (i) in the proportion that each such party's last payment of premium bears to the sum of the last such premium payments of all such parties. If such allocation would result in any party which had sustained a loss receiving a portion of the recovery in excess of the loss actually sustained, such excess portion shall be allocated among the other parties whose losses would not be fully indemnified. The allocation shall bear the same proportion as each such party's last payment of premium bears to the sum of the last premium payments of all parties entitled to receive a share of the excess. Any allocation in excess of a loss actually sustained by any such party shall be reallocated in the same manner.