Claim for Indemnity Sample Clauses
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Claim for Indemnity a. Any claim for indemnity on a unit must be submitted to us on our form not later than 60 days after the earliest of:
(1) total destruction of the popcorn on the unit;
(2) harvest of the unit; or
(3) December 10 of the crop year.
b. We will not pay any indemnity unless you:
(1) establish the total production of the popcorn on the unit and that any loss of production has been directly caused by one or more of the insured causes during the insurance period; and
(2) furnish all information we require concerning the loss.
c. The indemnity will be determined on each unit by:
(1) multiplying the insured acreage by the production guarantee;
(2) subtracting from this result, the total production of popcorn to be counted (see subsection 9.e.);
(3) multiplying the remainder by the price election; and
(4) multiplying this result by your share.
d. If the information reported by you under section 3 of this policy results in a lower premium than the actual premium determined to be due, the production guarantee on the unit will be computed on the information reported, but all production from insurable acreage, whether or not reported as insurable, will count against the production guarantee.
e. The total production (in pounds) to be counted for a unit will include all harvested and appraised production.
(1) Mature popcorn production:
(a) which otherwise is not eligible for quality adjustment will be reduced .12 percent for each .1 percentage point of moisture in excess of 15.0 percent; or
(b) which, due to insurable causes, is not of merchantable popcorn quality and is rejected by the processor, will be adjusted by:
(i) dividing the value per pound of the damaged popcorn by the contract price per pound for undamaged popcorn; and
(ii) multiplying the result by the number of pounds of such popcorn.
(2) Any production from yellow or white dent corn will be counted as popcorn on a weight basis.
(3) Any ear production for which we cannot determine a shelling factor will be considered to have an 80 percent shelling factor.
(4) Appraised production to be counted will include:
(a) unharvested production on harvested acreage and potential production lost due to uninsured causes;
(b) not less than the guarantee for any acreage which is abandoned or put to another use without our prior written consent or damaged solely by an uninsured cause; and
(c) any appraised production on unharvested acreage.
(5) Any appraisal we have made on insured acreage for which we have given written co...
Claim for Indemnity. In the event either party hereto receives notice of a claim or demand which results or may result in indemnification pursuant to SECTION 19 or SECTION 20, such party shall immediately give notice thereof to the other party to this Agreement. The party receiving such notice shall immediately take such measures as may be reasonably required to properly and effectively defend such claim, and may defend same with counsel of its own choosing. In the event the party receiving such notice fails to properly and effectively defend such claim, and in the event such party is liable therefor, then the party so giving such notice may defend such claim at the expense of the party receiving such notice.
Claim for Indemnity. Except for Tax Claims which shall be governed by Section 4.1 and not Section 4.7, the Parties covenant and agree that if any of Purchaser or Purchaser Indemnified Parties or Vendor or the Vendor Indemnified Parties (in this Section 4.7, the “Indemnified Party”) becomes aware of any matter that may result in the Indemnified Party claiming indemnity from another Party (in this Section 4.7, the “Indemnifying Party”) pursuant to this Agreement, then the Indemnified Party shall promptly give written notice of such Claim to the Indemnifying Party (although failure to provide prompt notice will not affect the Indemnified Party’s right to claim indemnity unless and only to the extent such failure materially adversely affects the Indemnifying Party). In the case of any Claim that arises as a result of or relates to the actions of a Person who is not a Party, the following procedure shall apply:
(a) Upon receipt of notice of the Claim, the Indemnifying Party shall, within 60 days of becoming aware of a Claim or such shorter time period as is necessary so as not to prejudice the position of the Indemnified Party, elect whether to compromise, settle or defend the Claim. If the Indemnifying Party elects to compromise, settle or defend the Claim, the Indemnifying Party shall notify the Indemnified Party in that regard and upon so notifying the Indemnified Party, the Indemnifying Party shall have control of the Claim; provided, however, the Indemnified Party shall have the right to retain its own counsel which, except as hereinafter set forth, shall be at its own cost and expense, and any compromise or settlement shall require the consent of the Indemnified Party, which consent will not be unreasonably withheld (which consent shall be deemed to have been provided 15 days following a written request for such consent if the Indemnified Party fails to respond to such request). If, for any reason, representation of the Indemnified Party and Indemnifying Party by the same counsel is not appropriate, the Indemnified Party shall be entitled to retain its own counsel at the cost and expense of the Indemnifying Party.
(b) The Indemnified Party, at the Indemnifying Party’s expense, shall co-operate in any compromise, settlement or defence being conducted by the Indemnifying Party and the Indemnified Party shall make available to the Indemnifying Party all books, records and other documents within the control of the Indemnified Party that in the reasonable opinion of the Indemnifyi...
Claim for Indemnity. (i) Within thirty (30) days of the determination of the amount of a Purchaser Indemnity, the Purchaser shall notify Escrow Agent of the Purchaser Indemnity. The Guarantors shall pay the Purchaser Indemnity to the Purchaser, within thirty (30) days of the date the Guarantors and the Purchaser agree in writing on the amount of such Purchaser Indemnity or, in the event the Guarantors and the Purchaser fail to reach a written agreement, the date on which a competent court or arbitral tribunal has, in a final, non-appealable and binding decision, determined the amount of such Purchaser Indemnity. Pursuant to the terms of the Escrow Agreement, the Purchaser may seek payment of the Purchaser Indemnity.
(ii) The Purchaser shall pay the Sellers Indemnity to the Sellers, within thirty (30) days of the date the Sellers and the Purchaser agree in writing on the amount of the Indemnity or, in the event the Guarantors and the Purchaser fail to reach a written agreement, the date on which a competent court or arbitral tribunal has, in a final, non-appealable and binding decision, determined the amount of such Indemnity.
Claim for Indemnity. If a claim shall arise for which any Indemnified Party shall be entitled to indemnification hereunder, the Indemnified Party shall notify FCAF in writing on receipt of notice of, or an Indemnified Party's obtaining actual knowledge of, such claim. Such notice shall specify all facts known to the Indemnified Party giving rise to such indemnity rights.