Common use of Excess Loss Accounts Clause in Contracts

Excess Loss Accounts. The DHC Restructuring is being completed in part in order to eliminate any excess loss accounts that may exist with respect to those entities that will be direct and indirect corporate Subsidiaries of Spinco at the time of the Distribution. To the extent any excess loss account existing as of the day prior to the Distribution Date with respect to any direct or indirect corporate Subsidiary of Spinco is not otherwise eliminated as a consequence of the DHC Restructuring, the amount of the intercompany payable, if any, determined as of the day prior to the Distribution Date, that is payable by such Subsidiary to Spinco or to the direct or indirect parent of such Subsidiary other than Spinco, as applicable, shall be deemed to have been contributed to the capital of such Subsidiary as of the day prior to the Distribution Date to the extent necessary to eliminate such excess loss account, provided that (a) such contribution shall be deemed to be have been made only if the company from which the deemed contribution originates (the “Contributing Parent”) owns 100%, directly or indirectly, of such Subsidiary, and (b) with respect to any Subsidiary (a “Recipient Subsidiary”) that is an indirect Subsidiary of the Contributing Parent, such contribution shall be deemed to have been contributed to the direct Subsidiary of the Contributing Parent that is an owner in the ownership chain of such Recipient Subsidiary and in turn by such owner to its Subsidiary that is an owner in the ownership chain of such Recipient Subsidiary, successively, until a contribution in the required amount is made to such Recipient Subsidiary by the owner that is the direct owner of such Recipient Subsidiary, and in the case of any Recipient Subsidiary having more than one owner, such capital contribution shall be deemed to have been made to such Recipient Subsidiary by the applicable owners in proportion to their ownership interests in such Recipient Subsidiary. For the avoidance of doubt, as used in this Agreement the term DHC Restructuring includes the transactions described in this Section 1.5.

Excess Loss Accounts. The DHC Restructuring Reorganization is being completed in part in order to eliminate any excess loss accounts that may exist with respect to those entities that will be direct and indirect corporate Subsidiaries of Spinco at the time subsidiaries of the DistributionCompany. To the extent any excess loss account existing as of the day prior to the Distribution Date with respect to any direct or indirect corporate Subsidiary subsidiary of Spinco the Company is not otherwise eliminated as a consequence of the DHC RestructuringReorganization, the amount of the intercompany payable, if any, determined as of the day prior to the Distribution Date, that is payable by such Subsidiary subsidiary to Spinco the Company or to the direct or indirect parent of such Subsidiary subsidiary other than Spinco, as applicable, shall the Company will be deemed to have been contributed to the capital of such Subsidiary subsidiary as of the day prior to the Distribution Date to the extent necessary to eliminate such excess loss account, provided that that (a) such contribution shall will be deemed to be have been made only if the company from which the deemed contribution originates (the “"Contributing Parent”") owns 100%, directly or indirectly, of such Subsidiarysubsidiary, and (b) with respect to any Subsidiary subsidiary (a “"Recipient Subsidiary”") that is an indirect Subsidiary subsidiary of the Contributing Parent, such contribution shall be deemed to have been contributed to the direct Subsidiary subsidiary of the Contributing Parent that is an owner in the ownership chain of such Recipient Subsidiary and in turn by such owner to its Subsidiary subsidiary that is an owner in the ownership chain of such Recipient Subsidiary, successively, until a contribution in the required amount is made to such Recipient Subsidiary by the owner that is the direct owner stockholder of such Recipient Subsidiary, and in the case of any Recipient Subsidiary having more than one ownerstockholder, such capital contribution shall will be deemed to have been made to such Recipient Subsidiary by the applicable owners that are its stockholders in proportion to their stock ownership interests in such Recipient Subsidiary. For the avoidance of doubt, as used in this Agreement the term DHC Restructuring includes the transactions described in this Section 1.5.

Excess Loss Accounts. The DHC Restructuring Reorganization is being completed in part in order to eliminate any excess loss accounts that may exist with respect to those entities that will be direct and indirect corporate Subsidiaries of Spinco at the time subsidiaries of the DistributionCompany. To the extent any excess loss account existing as of the day prior to the Distribution Date with respect to any direct or indirect corporate Subsidiary subsidiary of Spinco the Company is not otherwise eliminated as a consequence of the DHC RestructuringReorganization, the amount of the intercompany payable, if any, determined as of the day prior to the Distribution Date, that is payable by such Subsidiary subsidiary to Spinco the Company or to the direct or indirect parent of such Subsidiary subsidiary other than Spinco, as applicable, shall the Company will be deemed to have been contributed to the capital of such Subsidiary subsidiary as of the day prior to the Distribution Date to the extent necessary to eliminate such excess loss account, provided that that (a) such contribution shall will be deemed to be have been made only if the company from which the deemed contribution originates (the “"Contributing Parent”") owns 100%, directly or indirectly, of such Subsidiarysubsidiary, (b) no such contribution will be deemed to have been made with respect to Liberty Japan, Inc. or Liberty Jupiter, Inc. and (bc) with respect to any Subsidiary subsidiary (a “"Recipient Subsidiary”") that is an indirect Subsidiary subsidiary of the Contributing Parent, such contribution shall be deemed to have been contributed to the direct Subsidiary subsidiary of the Contributing Parent that is an owner in the ownership chain of such Recipient Subsidiary and in turn by such owner to its Subsidiary subsidiary that is an owner in the ownership chain of such Recipient Subsidiary, successively, until a contribution in the required amount is made to such Recipient Subsidiary by the owner that is the direct owner stockholder of such Recipient Subsidiary, and in the case of any Recipient Subsidiary having more than one ownerstockholder, such capital contribution shall will be deemed to have been made to such Recipient Subsidiary by the applicable owners that are its stockholders in proportion to their stock ownership interests in such Recipient Subsidiary. For the avoidance of doubt, as used in this Agreement the term DHC Restructuring includes the transactions described in this Section 1.5.