Common use of LOSS AND LOSS ADJUSTMENT EXPENSE Clause in Contracts

LOSS AND LOSS ADJUSTMENT EXPENSE. The Reinsurer 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 each Policy, including, but not limited to, judgments (including interest thereon), settlements and compromises in connection therewith, in each case net of collectable Inuring Reinsurance. The Reinsurer shall also be liable for the Ceded Percentage of Extra Contractual Obligations as set forth in Article 14, net of collectable Inuring Reinsurance. The Company in its full discretion shall investigate, defend, and resolve claims or proceedings relating to the Policies. Without prejudice to the foregoing and to the Original Conditions Article of this Agreement, while the Reinsurer 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.