Loss Adjustment and Settlement. (LM-01500-2006.09.07-A) (AM)
A. The Company shall give notice, as soon as practicable, to the Subscribing Reinsurer of any claim that it has reason to believe could involve this Contract. The Company shall keep the Subscribing Reinsurer informed of significant developments likely to affect the cost of any claim or claims hereunder.
B. The Company or a Legal Entity may commence, continue, defend, settle, or withdraw from actions, suits, or prosecutions and, generally, do all such things relating to any claim or loss in which the Subscribing Reinsurer is interested as, in the Company’s or a Legal Entity’s judgment, may be beneficial or expedient to the Company and the Subscribing Reinsurer. The Company and the Legal Entities shall be the sole judges as to what claims are covered under the Policies. All of the Ultimate Net Loss, as well as all loss settlements made and judgments paid by the Company or a Legal Entity, provided they are within the terms of this Contract either under the strict conditions of the Policies or by way of compromise, shall be unconditionally binding upon the Subscribing Reinsurer, who agrees to pay all amounts for which they are liable immediately upon reasonable evidence of the amount due being furnished to the Subscribing Reinsurer by the Company. The true intent of this Contract is that the Subscribing Reinsurer shall, in every case to which this Contract applies, follow the settlements of the Company and the Legal Entities.
Loss Adjustment and Settlement. A loss under any insurance required to be carried under Sections 3.5(a)(6), (7) and (8), shall be adjusted with the insurance companies, including the filing in a timely manner of appropriate proceedings, by the Construction Agent, subject to the approval of the Lessor and the Agent if such loss is in excess of $1,000,000. In addition the Construction Agent may in its reasonable judgment consent to the settlement of any loss, provided that in the event that the amount of the loss exceeds $1,000,000 the terms of such settlement is concurred with by the Lessor and the Agent.
Loss Adjustment and Settlement. A. The Company shall give notice, as soon as practicable, to the Subscribing Reinsurer of any claim that it has reason to believe could involve this Contract. The Company shall keep the Subscribing Reinsurer informed of significant developments likely to affect the cost of any claim or claims hereunder.
B. The Company or a Legal Entity may commence, continue, defend, settle, or withdraw from actions, suits, or prosecutions and, generally, do all such things relating to any claim or loss in which the Subscribing Reinsurer is interested as, in the Company’s or such Legal Entity’s judgment, may be beneficial or expedient to the Company or such Legal Entity, as applicable, and the Subscribing Reinsurer. The Company and the Legal Entities shall be the sole judge as to what claims are covered under their Policies. All of the Ultimate Net Loss and Loss Occurrences, as well as all loss settlements made and judgments paid by the Company or a Legal Entity, provided they are within the terms of this Contract either under the strict conditions of the Company’s or Legal Entities’ Policies or by way of compromise, shall be unconditionally binding upon the Subscribing Reinsurer, who agrees to pay all amounts for which it is liable immediately upon reasonable evidence of the amount due being furnished to the Subscribing Reinsurer by the Company. The true intent of this Contract is that the Subscribing Reinsurer shall, in every case to which this Contract applies, follow the settlements of the Company and the Legal Entities. Peerless 2007 Property Catastrophe Excess of Loss Contract — $300,000,000 xs $50,000,000
A. The Subscribing Reinsurer shall be credited with its share of salvage and/or subrogation in respect of claims and settlements under this Contract, less its share of recovery expense. Unless the Company agrees to waive such rights in the settlement of a disputed claim, or the Company and Subscribing Reinsurer agree to the contrary, the Company or the Legal Entities shall enforce this right to salvage and/or subrogation and shall prosecute all claims arising out of such right. Should the Company or a Legal Entity refuse or neglect to enforce this right, the Subscribing Reinsurer is hereby empowered and authorized to institute appropriate action in the name of the Company or a Legal Entity, as applicable.
B. Amounts recovered from salvage and/or subrogation shall always be used to reimburse the excess Reinsurers (and the Company, should it carry a portion of excess...
Loss Adjustment and Settlement. Any loss insured under a policy of property insurance required to be maintained pursuant to Sections 1.1(a)-(c) of this Schedule 5.17 shall be adjusted with the respective insurance companies, including the filing in a timely manner of appropriate proceedings, by the Borrower, with the approval of the Lenders if such loss is in excess of $250,000 for any one casualty or loss or an aggregate of $250,000 in any fiscal year. In addition, the Borrower may, in its reasonable judgment, consent to the settlement of any loss, provided, that in the event that the amount of the loss exceeds $250,000 any one casualty or loss in any fiscal year, the terms of such settlement is agreed in writing by the Lenders. The Lenders shall be entitled at their option to participate in any such compromise, adjustment or settlement of a loss in excess of $250,000 for any one casualty or in excess of $250,000 in the aggregate in any fiscal year.
Loss Adjustment and Settlement. (LM-01500-2006.09.07-A)
A. The Company shall give notice, as soon as practicable, to the Subscribing Reinsurer of any claim that it has reason to believe could involve this Contract. The Company shall keep the Subscribing Reinsurer informed of significant developments likely to affect the cost of any claim or claims hereunder.
B. The Company may commence, continue, defend, settle, or withdraw from actions, suits, or prosecutions and, generally, do all such things relating to any claim or loss in which the Subscribing Reinsurer is interested as, in the Company’s may be beneficial or expedient to the Company and the Subscribing Reinsurer. The Company shall be the sole judge as to what claims are covered under the Policies. All of the Ultimate Net Loss, as well as all loss settlements made and judgments paid by the Company, provided they are within the terms of this Contract either under the strict conditions of the Policies or by way of compromise, shall be unconditionally binding upon the Subscribing Reinsurer, who agrees to pay all amounts for which they are liable immediately upon reasonable evidence of the amount due being furnished to the Subscribing Reinsurer by the Company. The true intent of this Contract is that the Subscribing Reinsurer shall, in every case to which this Contract applies, follow the settlements of the Company.
Loss Adjustment and Settlement. (LM-01500-2006.09.07-A)
Loss Adjustment and Settlement. Any loss shall be adjusted with the insurance companies, including the filing in a timely manner of appropriate proceedings, by the Borrower or EPC Contractor, subject to the approval of the Common Security Trustee if such loss is in excess of USD75,000,000 prior to the Substantial Completion of Subproject 5 (or if Train 6 Debt has been incurred, Subproject 6) and in excess of USD250,000,000 on or after the Substantial Completion of Subproject 5 (or if Train 6 Debt has been incurred, Subproject 6) (as each term is defined in the applicable EPC Contracts). In addition, the EPC Contractor or Borrower may in its reasonable judgment consent to the settlement of any loss, provided that in the event that the amount of the loss exceeds USD75,000,000 prior to the Substantial Completion of Subproject 5 (or if Train 6 Debt has been incurred, Subproject 6) and in excess of USD250,000,000 on or after the Substantial Completion of Subproject 5 (or if Train 6 Debt has been incurred, Subproject 6) (as each term is defined in the applicable EPC Contracts) the terms of such settlement is concurred with by the Common Security Trustee.
Loss Adjustment and Settlement. Any loss insured by policies of property insurance required to be maintained pursuant to Section 1.1.1, Section 1.1.2, Section 1.1.3, Section 1.1.4 and Section 1.1.5 of this Appendix A or other first party insurance policies or coverages shall be adjusted with the respective insurance companies, including the filing in a timely manner of appropriate proceedings, by the Borrower, in consultation with the Administrative Agent if such loss is equal to or in excess of $2,500,000.
Loss Adjustment and Settlement. A loss under the insurance policies providing property damage or business interruption shall be adjusted with the insurance companies, including the filing in a timely manner of appropriate proceedings, by Company, subject to the approval of TCW if such loss is in excess of $500,000. In addition Company may in its reasonable judgment consent to the settlement of any loss, provided that in the event that the amount of the loss exceeds $500,000 the terms of such settlement is concurred with by TCW.
Loss Adjustment and Settlement. A loss under any insurance required to be carried under Sections (B)(10), (11), (12), (13), (14) and (15) shall be adjusted with the insurance companies, including the filing in a timely manner of appropriate proceedings, by the Companies, subject to the approval of OPIC if such loss is in excess of $500,000. In addition, the Companies may in their reasonable judgment consent to the settlement of any loss provided that in the event that the amount of the loss exceeds $500,000 the terms of such settlement is concurred with by OPIC.
