Calculation of Claim Amount. Losses shall aggregate towards the Deductible in chronological order according to Date of Loss. Any Loss which is less than the Non-Qualifying Loss Amount is excluded from the Policy and shall not be taken into account in applying the Deductible. The Insurer will pay the Insured Percentage of the Loss, up to the Credit Limit applicable for the Buyer on the date of Shipment, in respect of Losses in excess of the Deductible, subject to the Policy Limit of Liability and any applicable Country Limit of Liability, whichever is the lesser. Where a Buyer is part of a Group, the Insurer’s liability for any Loss shall be limited to the Insured Percentage of the Credit Limit approved individually for each entity, up to but not exceeding the approved aggregated credit exposure limit for the Group. Where the Contract Currency is other than Policy Currency, the rate of exchange shall be the rate as offered by the Insurer's London clearing bank on the Due Date, except in the case of Transfer Loss, where the rate of exchange shall be the rate as offered by the Insurer's London clearing bank on the date of expiry of the Waiting Period. Each payment made by the Insurer in respect of a Loss hereunder shall reduce the Policy Limit of Liability and all other applicable limits by the amount of each payment.
Calculation of Claim Amount. The Insurer will pay the Insured Percentage of the Loss, subject to the Policy Limit of Liability. Each payment made by the Insurer in respect of a Loss hereunder shall reduce the Policy Limit of Liability by the amount of each payment.
Calculation of Claim Amount. Subject to Sections 7.5 and 5.3, the Claim Amount will be an amount equal to: the sum of:
Calculation of Claim Amount. The Claim Amount shall be an amount equal to the lesser of:
a. the sum of one hundred and ten percent (110%) of the unpaid principal balance due under the Loan as of the date of Default without capitalization of delinquent interest, penalties or advances and
b. the sum of one hundred percent (100%) of the unpaid principal balance due under the Loan as of the date of Default, plus the amount of the accumulated delinquent interest computed to the date of Claim payment at the Loan rate of interest, plus foreclosure costs, including court costs and reasonable attorneys’ fees, paid by the Insured and approved by the Company. Subject to Sections 3.1 and 3.2, in calculating such amounts, the unpaid principal balance shall not exceed the Insured Loan Amount and the unpaid principal balance and interest shall be reduced by any amounts obtained by a short payoff or other transaction approved in writing by the Company, and by any reduction in any insolvency proceeding or under the Soldier’s and Sailor’s Civil Relief Act of 1940 and/or any similar state or local law.
Calculation of Claim Amount. The Claim Amount shall be calculated pursuant to this section.
(a) The Loss-on-Sale Calculation (in the event of a Third-Party Sale or an approved REO Sale as described in Section 8.5(a) (Third-Party Sales and Approved REO Sales) shall be the sum of: (i) the Default Amount, and
Calculation of Claim Amount. (a) For purposes of this Section 8, damages, losses and expenses suffered by AAC and ASTeX shall mean only the portion thereof that exceeds the policy limits of any applicable insurance. Notwithstanding the foregoing, AAC or ASTeX shall be entitled to file a claim for indemnification hereunder and a Claim under the Escrow Agreement regardless of whether such claim is covered by insurance. For purposes of this Section 8, should CPI or ILCT be required to pay any consideration to AAC or ASTeX under this Section 8 (whether in cash, by return of ASTeX Shares, or other consideration acceptable to ASTeX or AAC), CPI or ILCT shall pay to AAC the full amount due hereunder.
(b) The amount of any Claim shall be (i) increased to take account of any net tax cost incurred by AAC or ASTeX arising from the receipt of indemnity payments hereunder (grossed up for such increase) and (ii) reduced to take account of any net tax benefit realized by AAC or ASTeX arising from the incurrence or payment of any such Claim, provided that for purposes of this Section 8, tax costs and benefits shall not be deemed to occur to the extent that an indemnity payment results in a reduction or increase in the basis of an asset of AAC or ASTeX, provided further, that the amount of any Claim shall be reduced by the amount of any tax benefit, as the case may be, when and only to the extent that AAC or ASTeX actually realizes such tax benefit, provided, however, that such tax benefit is realized prior to the end of ASTeX's 1999 fiscal year.
(c) Any payments made to AAC or ASTeX pursuant to the provisions of this Section 8 shall be treated for tax purposes but not for purposes of Section 2.3 as an adjustment to the Purchase Price.
Calculation of Claim Amount. In calculating the amount of a Claim:
(1) Indirect or consequential damages are not allowed;
(2) Recovery cannot be based on a comparison of planned expenditures to total actual expenditures, a comparison of planned manloading to actual manloading, estimated losses of labor efficiency, or any other analysis used to show damages indirectly;
(3) Damages are limited to extra costs specifically shown to have been directly caused by a proven wrong;
(4) Home office overhead, other home office charges or any Eichlay formula calculation is not allowed;
(5) No profit is allowed.
Calculation of Claim Amount. Subject to Section 7.5, the Claim Amount will be an amount equal to the sum of:
Calculation of Claim Amount. Subject to Sections 7.5 and 5.3, and the requirement for a Primary First Layer Policy, if any, the Claim Amount will be an amount equal to the sum of:
(a) the amount of unpaid principal balance due under the Loan as of the date of Default without capitalization of delinquent interest, penalties or advances; and
(b) the amount of accrued and unpaid interest due on the Loan computed at the contract rate stated in the Loan through the date that the Claim is filed with the Company, but excluding applicable late charges, penalty interest or other changes to the interest rate by reason of Default; and
(c) the amount of advances incurred by the Insured under Section 5.7 prior to filing of the Claim (except to Persons employed or controlled by the Insured or their other internal costs) provided that:
(i) Attorney's fees advanced for completion of Appropriate Proceedings and obtaining Possession of the Property will not be allowed to the extent they exceed three percent (3%) of the sum of the unpaid principal balance and the accrued and accumulated interest due; and
(ii) Such advances, other than attorney's fees, must have first become due and payable after the Default, and payment of such advances must be prorated from the date of Default through the date the Claim is filed with the Company; less:
(A) the amount of all rents and other payments (excluding proceeds of a sale of the Property and the proceeds of fire and extended coverage insurance) collected or received by the Insured, which are derived from or in any way related to the Property or the Loan;
(B) the amount of cash remaining in any escrow account as of the last payment date;
(C) the amount of cash or other collateral to which the Insured has retained the right of possession as security for the Loan;
(D) the amount paid under applicable fire and extended coverage policies which are in excess of the cost of restoring and repairing the Property, if the Property is damaged, and which has not been paid to the Borrower or applied to the payment of the Loan as required by the terms of the Loan;
(E) the greater of the amount of any claim payment pursuant to a Primary First Layer Policy which the insured received, or which the Insured should have received in order for the exclusion under Section 4.12 of this Policy not to have applied; and
(F) any other amounts claimed by the Insured to the extent they are excluded from the Claim Amount by reason of Section 4.
Calculation of Claim Amount. Subject to the requirement for a Primary Policy, if any, and to the Aggregate Loss Limit then applicable, the Claim Amount will be an amount equal to the sum of:
