Claims Notice Sample Clauses
A Claims Notice clause requires a party to promptly inform the other party when a claim arises under the contract. Typically, this involves providing written notice with sufficient details about the nature and basis of the claim, such as the relevant facts, the amount involved, and any supporting documentation. The core function of this clause is to ensure timely communication, allowing both parties to address and manage potential disputes or liabilities efficiently, thereby reducing the risk of misunderstandings or prejudicing the other party’s ability to respond.
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Claims Notice. A. The Company will notify the Reinsurer as soon as reasonably possible after the Company receives any type of claim on a subject Policy. Copies of all relevant claims papers will be sent promptly by the Company to the Reinsurer. The settlement made by the Company will be unconditionally binding on the Reinsurer.
B. The Company will provide the Reinsurer with further reports and papers reasonably required by the Reinsurer for its consideration of the claim.
Claims Notice. The Company will notify the Reinsurer as soon as reasonably possible after the Company receives a claim on a Reinsured Policy. Copies of all claims papers will be sent promptly by the Company to the Reinsurer. The settlement made by the Company will be binding on the Reinsurer. However, for claims made during the contestable period or in any case where the total amount of reinsurance ceded to the Reinsurer is greater than the amount retained by the Company, or if the Company retained less than, or none of, its usual retention on the policy, then the Company will seek the Reinsurer's recommendation before conceding liability or making settlement to the claimant. The Company will provide the Reinsurer with all further reports and papers required by the Reinsurer for its consideration of the claim. For Joint Life Last Survivor business, the Company, if notified, will in turn notify the Reinsurer of the first death.
Claims Notice. If any Buyer Indemnitee or Seller Indemnitee (the “Indemnitee”) receives notice of any claim or the commencement of any action or proceeding with respect to which any Party is obligated to provide indemnification (the “Indemnifying Party”) pursuant to Section 8.2 (or would be required to provide indemnification if the provisions of Section 8.3 did not apply), the Indemnitee shall promptly deliver to the Indemnifying Party a written notice (the “Claims Notice”) describing such matter in reasonable detail, including the estimated amount of the Losses that have been or may be sustained (to the extent that they may be estimated), the facts giving rise to the claim for indemnification hereunder and a reference to the provision of this Agreement upon which such claim is made, in each case to the extent practicable. The failure to make timely delivery of such written notice shall not affect the Indemnifying Party’s obligations hereunder, except to the extent that the failure or delay adversely affects the defense of such claim by the Indemnifying Party. The Indemnifying Party may, subject to the other provisions of this Section 8.4, settle, compromise or defend, at such Indemnifying Party’s own expense and by such Indemnifying Party’s own counsel, any such matter involving the asserted liability of the Indemnitee in respect of a third-party claim. If the Indemnifying Party shall elect to so conduct the defense with respect to such asserted liability, it shall, within fifteen (15) days after notice of the third-party claim is delivered by the Indemnitee to the Indemnifying Party, notify the Indemnitee of its intention to do so, and the Indemnitee shall reasonably cooperate, at the request and reasonable expense of the Indemnifying Party, in the defense against such asserted liability; provided, that no settlement or compromise of any third-party claim shall be made without the prior written consent of the Indemnitee, except where such settlement or compromise involves only the payment of money and only to the extent that such money is paid by or on behalf of the Indemnifying Party. The Indemnifying Party shall not be released from any obligation to indemnify the Indemnitee hereunder with respect to such asserted claim without the prior written consent of the Indemnitee, unless the Indemnifying Party shall deliver to the Indemnitee a duly executed agreement settling or compromising such claim with no monetary liability to, or injunctive relief against, or other obl...
Claims Notice. The Contractor shall timely report in writing to the County's Director of Risk Management any incident which it believes might result in claims against the County under any of the coverages mentioned herein. Name: County of Volusia, Florida Personnel/Risk Management Division Address: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ Telephone: ▇▇▇-▇▇▇-▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇
Claims Notice. The Company will notify the Reinsurer as soon as reasonably possible after the Company receives the claim. Copies of all claims papers will be sent promptly by the Company to the Reinsurer. The settlement made by the Company will be binding on the Reinsurer. However, for claims made during the contestable period or in any case where the total amount of reinsurance ceded to the Reinsurer is greater than the amount retained by the Company, or if the Company retained less than, or none of, its usual retention on the policy, then all papers in connection with the claim will be submitted to the Reinsurer and the Company will wait for up to ten days from the date of submission for the Reinsurer's recommendation before conceding liability or making settlement to the claimant. The Company will provide the Reinsurer with all further reports and papers required by the Reinsurer for its consideration of the claim. For Joint Life Last Survivor business, the Company will notify the Reinsurer of the first death.
Claims Notice. A Claim shall be made by any Indemnitee by delivery of a Claims Notice to any Indemnifying Party requesting indemnification and specifying the basis on which indemnification is sought and the amount of asserted Losses and, in the case of a Third Party Claim, containing (by attachment or otherwise) such other information as such Indemnitee shall have concerning such Third Party Claim.
Claims Notice. In the event the Company wishes to assert a claim for indemnification hereunder, (the “Indemnified Party”) it shall deliver written notice (a “Claims Notice”) to the applicable Investor (the “Indemnifying Party”), specifying the facts constituting the basis for, and the amount (if known) of the claim asserted.
Claims Notice. 50 Closing.......................................................................7
Claims Notice. 9.2 Claims Payment 9.3 Contested Claims 9.4 Claims Expenses 9.5 Extra Contractual Obligations 9.6 Misstatement of Age or Sex
ARTICLE 10 10.1 Errors and Omissions 10.2 Dispute Resolution 10.3 Arbitration
ARTICLE 11 11.1 Insolvency
ARTICLE 12 12.1 DAC Tax 12.2 Taxes and Expenses
Claims Notice. To seek indemnification under this Agreement, an Indemnified Party shall promptly notify the Indemnifying Party in writing of the Claim, describing the Claim in reasonable detail and the amount (or a reasonable estimation of such amount made in good faith based on the facts known at the time) of Losses suffered by the Indemnified Party on account of the Claim (the “Claims Notice”); provided, however, that the failure to promptly give such notice will not relieve or diminish the Indemnifying Party’s indemnification obligations under this Agreement, except and to the extent that such failure has actually harmed the Indemnifying Party.