Common use of Determination of Loss and Payment Clause in Contracts

Determination of Loss and Payment. In all liquidation cases, final settlement will be made with the Lender after the collateral is liquidated. The Government will have the right to recover losses paid under the guarantee from any party liable.

Determination of Loss and Payment. In all liquidation cases, final settlement will be made with the Lender after the collateral is liquidated. The Government Reclamation will have the right to recover losses paid under the guarantee from any party liable.