Common use of Coverage Limits Clause in Contracts

Coverage Limits. Coverage under this Agreement for a specific Reinsurance Contract shall be subject to the aggregate limit specified in the Reinsurance Contract reduced by all payments made by either Retrocedant or Retrocessionaire pursuant to such Reinsurance Contract. The application of any such aggregate limits shall be made in chronological order in accordance with the dates of the respective losses. It is understood, however, that such application shall not result in Retrocedant's becoming liable for any adverse development under this Agreement except as otherwise explicitly set forth herein.

Coverage Limits. Coverage under this Agreement for a specific the Reinsurance Contract shall be subject to the aggregate limit specified in the Reinsurance Contract reduced by all payments made by either Retrocedant or Retrocessionaire pursuant to such the Reinsurance Contract. The application of any such aggregate limits shall be made in chronological order in accordance with the dates of the respective losses. It is understood, however, that such application shall not result in Retrocedant's becoming liable for any adverse development under this Agreement except as otherwise explicitly set forth herein.