Claim Payments. Subject to the terms and conditions set out in the Agreement and if due and owing under the Agreement, the Province will use its reasonable efforts to make the payment to the Recipient for the claim submitted pursuant to section D3.1 (Submission of Claim for Payment and Required Documentation) in a timely manner.
Claim Payments. Following receipt by the Reinsurer of the Monthly Report setting forth the Ceding Company’s payment of any Covered Liabilities reinsured hereunder, the Reinsurer shall make payment of the Reinsurer’s Quota Share of the Covered Liabilities in accordance with Article VIII.
Claim Payments. Subject to the terms and conditions set out in the Agreement and the Guidelines and if due and owing under the Agreement, the Province will use its reasonable efforts to make the payment to the Recipient for the claim submitted pursuant to section D1.1 (Submission of Claim for Payment and Required Documentation) within 90 business days from the date the claim is approved and accepted by the Province.
Claim Payments. The Claims Administrator must make the initial payment of the award by the Adjudicator within 14 days of final adjudication. Any additional payment due under the award will be paid by the Claims Administrator within 14 days of satisfactory proof of completion for repair work has been reviewed and determined to be sufficient.
Claim Payments. The Reinsurer upon receipt of the claim information shall promptly make payment in settlement of the reinsurance under a claim approved and paid by the Ceding Company for a reinsured risk hereunder. The settlement made by the Ceding Company shall be unconditionally binding upon the Reinsurer whether or not the claim payment is made under the strict Policy conditions or compromised for a lesser amount. The payment to the Ceding Company will include interest as described in Section 11.7 of this Article. The Reinsurer shall make settlement in a lump sum regardless of the method of settlement under the policy.
Claim Payments. 30. To be eligible for a Claim Payment under this Settlement Agreement, a Settlement Class Member or his or her Legally Authorized Representative must timely submit a Claim Form that satisfies the requirements prescribed herein and must not have submitted a request for exclusion.
a. Settlement Class Members seeking a cash payment will, by default, be paid electronically. During the claims process, Settlement Class Members will be able to select from the following options for receiving their Claim Payment electronically: PayPal, Venmo, or ACH. In lieu of electronic payment, Settlement Class Members seeking a cash payment may request to receive their Claim Payment via check, which the Settlement Administrator will cause to be mailed to the Settlement Class Member. Checks will be valid for ninety (90) days from the issuance date and, if the Settlement Class Member does not cash or deposit the check during this time, such funds will revert to the Escrow Account. The Settlement Administrator shall make Claims Payments as set forth in this subparagraph within thirty (30) days of the later of
(i) the Settlement Administrator’s receipt of a timely and valid claim, or (ii) the Effective Date. For avoidance of doubt, no payments will be made prior to the Effective Date.
b. Settlement Class Members who make a claim under Option 2 may elect to receive a dealer credit valid at Authorized Porsche Dealers in lieu of receiving a cash payment. For avoidance of doubt, no credits will be provided prior to the Effective Date.
31. The Settlement Administrator shall establish procedures for receiving and processing Claim Forms consistent with Section VIII.
32. The Claim Payment described herein is the only payment to which Settlement Class Members are entitled under this Agreement. The payments shall be in full and final disposition of the Action, and in consideration for the release of any and all Released Claims as against any and all Released Persons. Any rights to Claim Payments under this Agreement shall inure solely to the benefit of Settlement Class Members and are not transferable or assignable to others.
Claim Payments. All loss settlements (excluding any EX GRATIA payments) made by the Reinsureds, provided that such loss settlements are made in the ordinary course of business and that the Principal Reinsured and the Reinsureds shall have acted in good faith in making any loss settlements and are within the terms of this Reinsurance Agreement, shall be unconditionally binding upon the Reinsurer and amounts falling to the share of the Reinsurer shall be payable by him upon reasonable evidence of the amount paid or shortly due for payment being given by the Principal Reinsured. The Reinsurer shall have the right to deduct any outstanding balances due to him from the Reinsureds under or in connection with this Reinsurance Agreement from any loss payment. For the purposes of this Article 11, an amount shall be deemed "due" if (i) it has been so agreed in writing by the Principal Reinsured and the Reinsurer or (ii) it has been finally determined or declared by a court, court of arbitration or administration order.
Claim Payments. Subject to the terms and conditions set out in the Agreement including, without limitation, any necessary appropriation from the Ontario Legislature and ministerial funding levels in respect of transfer payments, the Province will use its reasonable efforts to make a payment to the Recipient, if due and owing under the terms of the Agreement, within the timelines set out in Sub-schedule “E.1” (Payment Plan for Milestones and Reporting Schedule). For greater clarity, the Recipient agrees that the timelines set out in Sub-schedule “E.1” (Payment Plan for Milestones and Reporting Schedule) are estimates only and, despite the Province using reasonable efforts, there may be delays in payments.
Claim Payments. The Reinsurer upon receipt of proper claim proofs and information shall promptly and no later than [ ] days, make payment in settlement of the reinsurance under a claim approved and paid by the Ceding Company for a reinsured risk hereunder. The settlement made on an incontestable claim, defined as claims outside the contestable period (“Incontestable Claim”), by the Ceding Company shall be unconditionally binding upon the Reinsurer whether or not the claim payment is made under the strict Policy conditions or compromised for a lesser amount. The settlement made on a Contestable Claim or a Contested claim shall follow the parameters as shown in Section 11.4 of this Article. The payment to the Ceding Company will include interest as described in Section 11.7 of this Article. The Reinsurer shall make settlement in a lump sum regardless of the method of settlement under the policy.
Claim Payments. Thirty-Five Million Dollars ($35,000,000.00), if and to the extent claimed and net of any Fees that may be deducted from any portion claimed, will be distributed to Settlement Class Members who did not timely submit a Request for Exclusion by the Exclusion Deadline and who submit a timely and valid Claim Form subject to and in accordance with the procedures described in Section 10. The amount paid to a Settlement Class Member who submits a timely and valid Claim Form shall be determined by the Settlement Administrator in accordance with the Claim Form Review Process. The Settlement Administrator has final authority to determine whether a claim is valid and payable and its decision is not subject to review or appeal. No Claim Payment made to a Settlement Class Member will exceed Ten Thousand Dollars ($10,000.00). If the total value of the valid Claims determined to be payable by the Settlement Administrator exceeds $35,000,000.00, the Claim Payment for each Claim will be adjusted by the percentage that the claims exceeded $35,000,000.00 to ensure that everyone receives an equal proportional share. For example, if total claims equal $40,000,000.00, then each person’s Claim Payment would be adjusted so that they receive 87.5% of their valid and payable Claim ($35M ÷ $40M = 0.875).
