Common use of Paid Losses in Excess of Beginning Reserves Clause in Contracts

Paid Losses in Excess of Beginning Reserves. (i) At the end of the first calendar quarter in which Paid Losses (calculated with the references to "Valuation Date" in the definition thereof being to such quarter-end and subject to Section 5(c)) exceed the Beginning Reserves (such excess, the "Excess"), Buyer may give written notice of the Excess to Seller. Such notice shall be accompanied by a report of independent public accountants designated by Buyer (who may also be the independent public accountants of Seller or Buyer) setting forth the amount of Paid Losses and showing in reasonable detail the calculation thereof. If at any time within thirty (30) days of the receipt of such notice, Seller gives written notice to Buyer that it disputes the Paid Losses or any component thereof, Appointed Experts shall be engaged to confirm the calculation of Paid Losses. The Appointed Experts shall confirm the calculation of the Paid Losses within forty-five (45) days of the date Seller gives such notice, and give notice to the Escrow Agent of the amount of the Excess. Except as provided in Section 5(c), the Appointed Experts' confirmation of the calculation shall be final and binding on all parties. On the later of (A) the end of the 30-day period referred to in this Section 6(c)(i) and (B) the delivery by the Appointed Experts of their confirmation of the calculation of the Excess, the Escrow Agent shall release from the Escrow Account and deliver to Buyer Escrowed Funds in an amount equal to any Excess.

Paid Losses in Excess of Beginning Reserves. (i) At the end of the first calendar quarter in which Paid Losses (calculated with the references to "Valuation Date" in the definition thereof being to such quarter-end and subject to Section 5(c)) exceed the Beginning Reserves (such excess, the "ExcessEXCESS"), Buyer may give written notice of the Excess to SellerACGL. Such notice shall be accompanied by a report of independent public accountants designated by Buyer (who may also be the independent public accountants of Seller ACGL or Buyer) setting forth the amount of Paid Losses and showing in reasonable detail the calculation thereof. If at any time within thirty (30) days of the receipt of such notice, Seller ACGL gives written notice to Buyer that it disputes the Paid Losses or any component thereof, Appointed Experts shall be engaged to confirm the calculation of Paid Losses. The Appointed Experts shall confirm the calculation of the Paid Losses within forty-five (45) days of the date Seller ACGL gives such notice, and give written notice and instructions to the Escrow Agent of with respect to the amount of the Excess. Except as provided in Section 5(c), the Appointed Experts' confirmation of the calculation shall be final and binding on all parties. On the later of (A) the end of the 30-day period referred to in this Section 6(c)(i6(d)(i) and (B) the delivery by the Appointed Experts of their confirmation of the calculation of the Excess, the Escrow Agent shall shall, upon its receipt of written instructions from the Appointed Experts, release from the Escrow Account and deliver to Buyer Escrowed Funds in an amount equal to any Excess.

Paid Losses in Excess of Beginning Reserves. (i) At the end of the first calendar quarter in which Paid Losses (calculated with the references to "Valuation Date" in the definition thereof being to such quarter-end and subject to Section 5(c)) exceed the Beginning Reserves (such excess, the "ExcessEXCESS"), Buyer may give written notice of the Excess to Seller. Such notice shall be accompanied by a report of independent public accountants designated by Buyer (who may also be the independent public accountants of Seller or Buyer) setting forth the amount of Paid Losses and showing in reasonable detail the calculation thereof. If at any time within thirty (30) days of the receipt of such notice, Seller gives written notice to Buyer that it disputes the Paid Losses or any component thereof, Appointed Experts shall be engaged to confirm the calculation of Paid Losses. The Appointed Experts shall confirm the calculation of the Paid Losses within forty-five (45) days of the date Seller gives such notice, and give written notice and instructions to the Escrow Agent of with respect to the amount of the Excess. Except as provided in Section 5(c), the Appointed Experts' confirmation of the calculation shall be final and binding on all parties. On the later of (A) the end of the 30-day period referred to in this Section 6(c)(i6(d)(i) and (B) the delivery by the Appointed Experts of their confirmation of the calculation of the Excess, the Escrow Agent shall shall, upon its receipt of written instructions from the Appointed Experts, release from the Escrow Account and deliver to Buyer Escrowed Funds in an amount equal to any Excess.

Paid Losses in Excess of Beginning Reserves. (i) At the end of the first calendar quarter in which Paid Losses (calculated with the references to "Valuation Date" in the definition thereof being to such quarter-end and subject to Section 5(c)) exceed the Beginning Reserves (such excess, the "Excess"), Buyer may give written notice of the Excess to Seller. Such notice shall be accompanied by a report of independent public accountants designated by Buyer (who may also be the independent public accountants of Seller or Buyer) setting forth the amount of Paid Losses and showing in reasonable detail the calculation thereof. If at any time within thirty (30) days of the receipt of such notice, Seller gives written notice no- xxxx to Buyer that it disputes the Paid Losses or any component thereof, Appointed Experts shall be engaged to confirm the calculation of Paid Losses. The Appointed Experts shall confirm the calculation of the Paid Losses within forty-five (45) days of the date Seller gives such notice, and give notice to the Escrow Agent of the amount of the Excess. Except as provided in Section 5(c), the Appointed Experts' confirmation of the calculation shall be final and binding on all parties. On the later of (A) the end of the 30-day period referred to in this Section 6(c)(i6(d)(i) and (B) the delivery by the Appointed Experts of their confirmation of the calculation of the Excess, the Escrow Agent shall release from the Escrow Account and deliver to Buyer Escrowed Funds in an amount equal to any Excess.