Common use of Reimbursement of the Excess Clause in Contracts

Reimbursement of the Excess. Those persons who are at any time during the Period of Insurance Principals of the Insured Firm (including, for these purposes, every person held out as a partner of a Sole Practitioner) will reimburse the Insurer for any Excess paid by the Insurer on an Insured’s behalf. The Sum Insured is reinstated to the extent of reimbursement of any amount which eroded it under clause 3.4.

Reimbursement of the Excess. Those persons who are at any time during the Period of Insurance Principals of the Insured Firm (including, for these purposes, every person held out as a partner of a Sole Practitioner) will reimburse the Insurer for any Excess paid by the Insurer on an Insured’s Insured‘s behalf. The Sum Insured is reinstated to the extent of reimbursement of any amount which eroded it under clause 3.4.