Common use of LOSS AND LOSS ADJUSTMENT EXPENSE Clause in Contracts

LOSS AND LOSS ADJUSTMENT EXPENSE. The Retrocessionaire shall assume, be liable for and pay to or on behalf of the Company, the Ceded Percentage of all Loss and Loss Adjustment Expenses incurred in connection with the Ceded Contracts, including, but not limited to, judgments (including interest thereon), settlements and compromises in connection therewith. As respects United States dollars and Euros, Losses and Loss Adjustment Expenses as respects any Ceded Contract shall be paid in the original currency in which the Company incurred such Loss or Loss Adjustment Expenses. As respects other currencies, the Loss and Loss Adjustment Expenses as respect any Ceded Contract shall be paid in United States Dollars or other original currency per Article 15. The Retrocessionaire shall also be liable for the Ceded Percentage of Extra Contractual Obligations as set forth in Article 14. The Company in its full discretion shall investigate, defend, and resolve claims or proceedings relating to the Ceded Contracts. Without prejudice to the foregoing and to the Original Conditions Article of this Agreement, while the Retrocessionaire does not undertake to investigate or defend claims or proceedings, it shall nevertheless have the right and be given the opportunity, at its request and with the full cooperation of the Company, to appoint representatives at its own expense and to become associated with the Company and the Company’s representatives in the investigation or control of any claims or proceedings involving this Agreement.

LOSS AND LOSS ADJUSTMENT EXPENSE. The Retrocessionaire shall assume, be liable for and pay to or on behalf of the Company, the Ceded Percentage of all Loss and Loss Adjustment Expenses incurred in connection with the Ceded Contracts, including, but not limited to, judgments (including interest thereon), settlements and compromises in connection therewith. As respects United States dollars and Euros, Losses and Loss Adjustment Expenses as respects any Ceded Contract shall be paid in the original currency in which the Company incurred such Loss or Loss Adjustment Expenses. As respects other currencies, the Loss and Loss Adjustment Expenses as respect any Ceded Contract shall be paid in United States Dollars or other original currency per Article 15. The Retrocessionaire shall also be liable for the Ceded Percentage of Extra Contractual Obligations as set forth in Article 14. The Company in its full discretion shall investigate, defend, and resolve claims or proceedings relating to the Ceded Contracts. Without prejudice to the foregoing and to the Original Conditions Article of this Agreement, while the Retrocessionaire does not undertake to investigate or defend claims or proceedings, it shall nevertheless have the right and be given the opportunity, at its [***]: CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION. request and with the full cooperation of the Company, to appoint representatives at its own expense and to become associated with the Company and the Company’s representatives in the investigation or control of any claims or proceedings involving this Agreement.