Recovered Property. If you or we recover any property for which we have made payment under this policy, you or we will notify the other of the recovery. At your option, the property will be returned to or retained by you or it will become our property. If the recovered property is returned to or retained by you, the loss payment will be adjusted based on the amount you received for the recovered property.
Recovered Property. If either you or we recover any property after loss settlement, that party must give the other prompt notice. At your option, you may keep the property or we will return it to you. Oth- erwise, it will become our property. If you choose to keep the property, the loss payment will be adjusted based on the amount you received for the recovered property.
Recovered Property. If the Insured or the Underwriters recover any property, money or Data Assets after a loss payment is made, the party making the recovery must give prompt notice of the recovery to the other party. If the recovered property is money or other funds, the recovery shall be applied first to Loss payments made by Underwriters, second to any Retention payment made by the Named Insured, and third to any costs incurred by Underwriters in recovering the property. If property other than money or funds is recovered, the Named Insured may (i) keep the recovered property and return the Loss payment plus all costs of recovery incurred by Underwriters, or (ii) keep the Loss payment less the costs of recovery incurred by Underwriters and transfer all rights in the property to Underwriters.
Recovered Property. If either you or DOAS recover Covered Property after loss settlement, the recovering party must give the other prompt notice. At your option, the property will be returned to or retained by you. You must then return to DOAS the amount DOAS paid to you for the property. DOAS will reimburse you for recovery expenses and the expenses to repair the recovered property, subject to the Limit of Coverage. If the recovered property is damaged and you want the property returned, you must pay DOAS what is agreed to be the fair value of that damaged property less recovery expenses.
Recovered Property. If the Insured or the Underwriters recover any property, money or Data Assets after a loss payment is made, the party making the recovery must give prompt notice of the recovery to the other party. If the recovered property is money or other funds, the recovery shall be applied first to Loss payments made by Underwriters, second to any Retention payment made by the Named Insured, and third to any costs incurred by Underwriters in recovering the property. If property other than money or funds is recovered, the Named Insured may (i) keep the recovered property and return the Loss payment plus all costs of recovery incurred by Underwriters, or (ii) keep the Loss payment less the costs of recovery incurred by Underwriters and transfer all rights in the property to Underwriters. All other terms and conditions of this Policy remain unchanged. In P Authorized Representative ss I don This endorsement modifies insurance provided under the following: In consideration of the premium charged for the Policy, it is hereby understood and agreed that:
Recovered Property. Before we have paid for the loss or replaced the property, we may return to you any recovered stolen property, at our expense, along with payment for any covered damage. At our option, we may keep all or part of the property at the agreed or appraised value, but you will not have the option of abandoning property to us.
Recovered Property. If you or we recover any property for which we have made payment
Recovered Property. If you or we recover any property for which we have made payment under this policy, you or we will notify
Recovered Property. If you recover any property that we have made payment on under this policy you must immediately notify us. If the recovery is made prior to the conclusion of the loss adjustment, you will have the option to retain the property and we will adjust the loss payment based on the value of the property.
Recovered Property. This applies if “we” pay for a loss and lost or damaged property is recovered or payment is made by those responsible for the loss.
