Common use of Loss Occurrence Clause in Contracts

Loss Occurrence. A. The term “Loss Occurrence” shall mean the sum of all individual losses directly occasioned by any one disaster, accident or loss or series of disasters, accidents or losses arising out of one event which occurs within the area of one state of the United States or province of Canada and states or provinces contiguous thereto and to one another. However, the duration and extent of any one “Loss Occurrence” shall be limited to all individual losses sustained by the Company or a Legal Entity occurring during any period of 168 consecutive hours arising out of and directly occasioned by the same event, except that the term “Loss Occurrence” shall be further defined as follows:

Loss Occurrence. A. The term “Loss Occurrence” shall mean the sum of all individual losses directly occasioned by any one disaster, accident or loss or series of disasters, accidents or losses arising out of one event which occurs within the area of one state of the United States or province of Canada and states or provinces contiguous thereto and to one another. However, the duration and extent of any one “Loss Occurrence” Occurrence shall be limited to all individual losses sustained by the Company or a Legal Entity occurring which occur during any period of 168 consecutive hours arising out of and directly occasioned by the same event, event except that the term “Loss Occurrence” shall be further defined as follows: