REINSURING TERMS Sample Clauses

REINSURING TERMS. The Reinsurers aggregate limit of liability is the most the reinsurer will pay. The estimated aggregate limit of liability is one million three hundred thousand dollars ($1,300,000). This limit of liability is subject to adjustment as follows: Adjustment Basis Adjustment Rate Per ---------------- --------------- --- [redacted pending [redacted pending each confidentiality confidentiality request with SEC] request with SEC] Subject to a maximum downward adjustment of 10%.
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REINSURING TERMS. (1) The Reinsurers aggregate limit of liability is the most the reinsurer will pay. The estimated aggregate limit of liability is one million three hundred thousand dollars ($1,300,000). This limit of liability is subject to adjustment as follows: Adjustment Basis Adjustment Rate Per ---------------- --------------- --- [redacted pending [redacted pending each confidentiality request confidentiality request with SEC] with SEC] Subject to a maximum downward adjustment of 10%. (2) Subject to (1) above, Automobile Liability (including Automobile Physical Damage if agreed) under the Company's Policy Number RMCA 3208643, RMCA 3208644, RMCA 3208645, the Reinsurer agrees to reinsure the Company and be liable for One Hundred Percent (100%) of the first One Hundred Thousand Dollars ($100,000) of the Company's Ultimate Net Loss per Bodily Injury each Person. (3) Subject to (1) above, Automobile Liability (including Automobile Physical Damage if agreed) under the Company's Policy Number RMCA 3208643, RMCA 3208644, RMCA 3208645, the Reinsurer agrees to reinsure the Company and be liable for One Hundred Percent (100%) of the first Three Hundred Thousand Dollars ($300,000) of the Company's Ultimate Net Loss per Bodily Injury each Accident. (4) Subject to (1) above, Automobile Liability (including Automobile Physical Damage if agreed) under the Company's Policy Number RMCA 3208643, RMCA 3208644, RMCA 3208645, the Reinsurer agrees to reinsure the Company and be liable for One Hundred Percent (100%) of the first One Hundred Thousand Dollars ($100,000) of the Company's Ultimate Net Loss per Property Damage each Accident. (5) Subject to (l) above, Allocated Loss Expense: Reinsurer agrees to reinsure the Company against and be liable for Allocated Loss Expense under the policies covered hereunder as follows: 1) if Ultimate Net Loss is contained within the Reinsured Limit(s) - Reinsurer will pay all Allocated Loss Expenses; 2) if Ultimate Net Loss exceeds the Reinsured Limit(s) - Reinsurer will pay that amount of Allocated Loss Expenses that is in proportion to the ratio that the Reinsured Limit(s) bears to the Loss paid under the Policy(ies); or 3) if there is no Ultimate Net Loss - Reinsurer will pay all Allocated Loss Expenses up to the Reinsured Limit(s) and fifty percent (50%) of the Allocated Loss Expenses which exceed the Reinsured Limit(s).

Related to REINSURING TERMS

  • Remaining Terms Except as stated herein, all other terms and conditions of the Agreement remain in full force and effect.

  • Shipping Terms All deliveries will be F.O.B. destination, freight pre-paid, with all transportation and handling charges paid by the Contractor. 8.1.1 Notwithstanding the above, responsibility and liability for loss or damage will remain the Contractor’s until final inspection and acceptance when responsibility will pass to the Purchasing Entity except as to latent defects, fraud, and Contractor’s warranty obligations.

  • Controlling Terms In the event of any conflict or inconsistency between the terms of this Section 5 and the terms of the Escrow Agreement, the terms of the Escrow Agreement shall govern.

  • Governing Terms Section 2.2 is amended by deleting the last sentence of the section and replacing it with the following: “Any inconsistency between any terms of this Master Agreement and any terms of the Confirmation Agreement or terms of the Collateral Annex, as may be modified in this Confirmation Agreement, shall be resolved in favor of the terms of this Confirmation Agreement or such Collateral Annex.”.

  • Surviving Terms The provisions set forth in the following sections, and any other rights or obligations of the parties in this Agreement that, by their nature, should survive termination or expiration of this Agreement, will survive any expiration or termination of this Agreement (including, without limitation, Section 9 (Confidentiality), Section 8 (Fees; Payment Terms), Section 10 (Term and Termination), Section 12 (Indemnification), Section 13 (Limitations of Liability) and Section 15 (Miscellaneous)).

  • Pricing Terms (1) All pricing in this Agreement as well as every Customer Product Agreement Extension refers to the price at which the Customer may Purchase the corresponding Parent Product. This is excluding taxes, surcharges or any other costs. (2) Parent may at any time change the price of any Parent Product with reasonable notification to the Customer.

  • Definitions and Accounting Terms Section 1.01.

  • Governing Terms and Conditions If there is an irreconcilable conflict between the terms and conditions set forth in this Contract or any Contract Amendment and the terms and conditions set forth in any Exhibit, Appendix, Work Authorization or Supplemental Work Authorization to this Contract, the terms and conditions set forth in this Contract or any Contract Amendment shall control over the terms and conditions set forth in any Exhibit, Appendix, Work Authorization or Supplemental Work Authorization to this Contract.

  • Accounting Terms All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles consistent with those applied in the preparation of the financial statements referred to in Section 4.01(e) ("GAAP").

  • Accounting Terms and Principles (a) Except as set forth below, all accounting terms not specifically defined herein shall be construed in conformity with GAAP and all accounting determinations required to be made pursuant hereto (including for purpose of measuring compliance with Article V (Financial Covenant)) shall, unless expressly otherwise provided herein, be made in conformity with GAAP. (b) If at any time any change in GAAP would affect the computation of any financial ratio or requirement, and either the Borrower or the Administrative Agent shall so request, the Administrative Agent and the Borrower shall negotiate in good faith to amend such ratio or requirement so as to equitably reflect such change in GAAP with the desired result that the criteria for evaluating the Borrower’s financial condition shall be the same after such change in GAAP as if such change in GAAP had not been made (subject to the approval of the Requisite Lenders); provided, however, that, (i) until so amended, (A) such ratio or requirement shall continue to be computed in accordance with GAAP, as applicable, prior to such change therein and (B) the Borrower shall provide to the Administrative Agent and the Lenders a written reconciliation, in form and substance reasonably satisfactory to the Administrative Agent, between calculations of such ratio or requirement made before and after giving effect to such change in GAAP and (ii) for the avoidance of doubt, (A) the amount of any Capital Lease Obligation shall at all times be calculated in accordance with the definition of that term, and (B) notwithstanding any changes in GAAP after the Closing Date, any lease of the Borrower or the Subsidiaries that would be characterized as an operating lease under GAAP in effect on the Closing Date (whether such lease is entered into before or after the Closing Date) shall not constitute Indebtedness or a Capital Lease Obligation under this Agreement or any other Loan Document as a result of such changes in GAAP. (c) For purposes of making all financial calculations to determine compliance with Article V (Financial Covenant) and any other financial ratio hereunder, all components of such calculations shall be adjusted to include or exclude, as the case may be, without duplication, such components of such calculations attributable to any business or assets that have been acquired by the Borrower or any of its Subsidiaries (including through Permitted Acquisitions) after the first day of the applicable period of determination and prior to the end of such period, as determined in good faith by the Borrower on a Pro Forma Basis. For the avoidance of doubt, when determining Pro Forma Compliance with Article V (Financial Covenant) for purposes of any ratio test set forth in the definition of “Permitted Acquisition” or Article VIII (Negative Covenants), the test set forth in Article V (Financial Covenant) shall apply regardless of whether any Revolving Credit Commitment remains outstanding on the relevant test date.

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