Common use of Payment of Losses Clause in Contracts

Payment of Losses. Each Loss determined to be payable by Lessee under the terms hereof shall be paid to Lessor within thirty (30) days after the date on which Lessee is notified in writing of such amount. Each such notice shall contain an itemization of the damages, expense, costs, and liabilities comprising the Loss, certified to be true and correct by Lessor or its legal representative.