Common use of Order of Payments Clause in Contracts

Order of Payments. If the amount of any covered Loss which is otherwise due and owing by the Insurer under this Coverage Part exceeds the then-remaining Limit of Liability of this Policy, the Insurer shall pay such Loss under this Coverage Part (subject to such Limit of Liability) in the following priority: 1. first, the Insurer shall pay Loss for which coverage is provided under Insuring Agreement A. of this Coverage Part; then 2. only after payment of Loss has been made pursuant to 1. above, with respect to whatever remaining amount of the Limit of Liability is available after such payment, at the written request of the chief executive officer, or equivalent officer, of the Named Insured, the Insurer shall either pay or withhold payment of such other Loss for which coverage is provided under Insuring Agreements B. and C. of this Coverage Part. In the event the Insurer withholds payment pursuant to Paragraph 2. above, then the Insurer shall at such time and in such manner as shall be set forth in written instructions from the Chief Executive Officer, or equivalent officer, of the Named Insured remit such payment to an Insured Entity or directly to or on behalf of an Insured Person. The Insurer’s liability with respect to any such delayed Loss payment shall not be increased, and shall not include any interest, on account of such delay. The bankruptcy or insolvency of any Insured Entity or any Insured Person shall not relieve the Insurer of any of its obligations to prioritize payment of covered Loss under this Coverage Part pursuant to this Section.

Order of Payments. If A. In the amount event of Loss arising from any covered Loss Claim for which payment is otherwise due and owing by under the Insurer under provisions of this Coverage Part Section, but which Loss, in the aggregate, exceeds the then-remaining available Limit of Liability of applicable to this PolicyCoverage Section, then the Insurer shall shall: (1) first, pay such Loss under this Coverage Part (subject to such Limit of Liability) in the following priority: 1. first, the Insurer shall pay Loss for which coverage is provided under Insuring Agreement A. of this Coverage Part; Section; (2) then 2. only after payment of Loss has been made pursuant to 1. above, with respect to whatever remaining amount of the applicable Policy Aggregate Limit of Liability is available after such payment, at the written request of the chief executive officer, or equivalent officer, of the Named Insured, the Insurer shall either pay or withhold payment of such other Loss, pay such Loss for which coverage is provided under Insuring Agreement B. of this Coverage Section, and (3) then, pay such Loss for which coverage is provided under Insuring Agreements B. and C. C., D. or E. of this Coverage PartSection. B. In the event of Loss arising from a Claim for which payment is due under the provisions of this Coverage Section (including those circumstances described in paragraph A. of this Section VIII.), the Insurer shall, at the written request of the Named Insured: (1) first pay such Loss for which coverage is provided under Insuring Agreement A. of this Coverage Section; (2) then, either pay or hold payment for such Loss for which coverage is provided under Insuring Agreements B., C., D. or E. of this Coverage Section. In the event that the Insurer withholds payment under Insuring Agreements B., C., D. or E. of this Coverage Section pursuant to Paragraph 2. abovethe above request, then the Insurer shall at such any time and in such manner as shall be set forth in written instructions from the Chief Executive Officerfuture, or equivalent officer, at the request of the Named Insured remit Insured, release such Loss payment to an Insured Entity the Company, or make such Loss payment directly to or on behalf the Insured Person in the event of an Insured Person. covered Loss under any Claim covered under Insuring Agreement A. of this Coverage Section. C. The Insurer’s liability with respect to any such delayed Loss payment shall not be increased, and shall not include any interest, on account of such delay. The bankruptcy or insolvency Financial Impairment of any Insured Entity Company or any Insured Person shall not relieve the Insurer of any of its obligations to prioritize payment of covered Loss under this Coverage Part Section pursuant to this SectionSection VIII.

Order of Payments. If the amount of any covered Loss which is otherwise due and owing by the Insurer under this Coverage Part exceeds the then-remaining Limit of Liability of this Policy, the Insurer shall pay such Loss under this Coverage Part (subject to such Limit of Liability) in the following priority: 1. first, the Insurer shall pay Loss for which coverage is provided under Insuring Agreement A. of this Coverage Part; then 2. only after payment of Loss has been made pursuant to 1. above, with respect to whatever remaining amount of the Limit of Liability is available after such payment, at the written request of the chief executive officerChief Executive Officer, or equivalent officer, of the Named Insured, the Insurer shall either pay or withhold payment of such other Loss for which coverage is provided under Insuring Agreements B. and C. of this Coverage Part. In the event the Insurer withholds payment pursuant to Paragraph 2. above, then the Insurer shall at such time and in such manner as shall be set forth in written instructions from the Chief Executive Officer, or equivalent officer, of the Named Insured remit such payment to an Insured Entity or directly to or on behalf of an Insured Person. The Insurer’s liability with respect to any such delayed Loss payment shall not be increased, and shall not include any interest, on account of such delay. The bankruptcy or insolvency of any Insured Entity or any Insured Person shall not relieve the Insurer of any of its obligations to prioritize payment of covered Loss under this Coverage Part pursuant to this Section.