SALVAGE AND RECOVERIES. All salvages, recoveries and payments recovered or received subsequent to a loss settlement under this Policy shall be applied as if recovered or received prior to the said settlement and all necessary adjustments shall be made by the parties hereto.
SALVAGE AND RECOVERIES. When, in connection with any loss under this Equipment Breakdown Coverage Document, any salvage or recovery is received subsequent to the payment of such loss, the amount of loss shall be refigured on the basis on which it would have been settled had the amount of salvage or recovery been known at the time the loss was originally determined. Any amounts thus found to be due either party from the other shall be paid promptly.
SALVAGE AND RECOVERIES. All salvages, recoveries and payments recovered or received subsequent to a loss settlement under this Contract shall be applied as if recovered or received prior to the said settlement and all necessary adjustments shall be made by the parties hereto.
SALVAGE AND RECOVERIES. If we pay you for the cost to replace insured property, we retain all salvage rights for remaining parts and/or recovered property. STATE LAW: Any part of this policy which conflicts with the laws of your state is automatically changed to conform to the law.
SALVAGE AND RECOVERIES. (a) The Reinsurer shall be subrogated, as respects any loss for which the Reinsurer shall actually pay or become liable, but only to the extent of the amount of payment by or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for said loss. The Company hereby agrees to enforce such rights, but in case the Company shall refuse or neglect to do so the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or its policyholders, or otherwise to enforce such rights.
(b) All salvages, recoveries or reimbursements, after deduction of expenses applicable thereto, recovered or received subsequent to a loss settlement recoverable under this Agreement shall be applied as if recovered or received prior to the settlement and all necessary adjustments shall be made by the parties hereto, provided always, that nothing in this clause shall be construed to mean that losses under this Agreement are not recoverable until the Company's Aggregate Ultimate Net Loss has been ascertained. Expenses hereunder shall exclude all office expenses of the Company and all salaries and expenses of its officials and employees.
SALVAGE AND RECOVERIES. All Business Income Values, Replacement Cost Basis, Recoveries, and payments, excluding proceeds from subrogation and underlying insurance recovered or received prior to a loss settlement under this policy, shall reduce the loss accordingly.
SALVAGE AND RECOVERIES. All salvage, recoveries and payments recovered or received subsequent to a loss settlement under this Agreement shall be applied as if recovered or received prior to the settlement and all necessary adjustments shall be made by the parties. Michigan County Road Commission Self-Insurance Pool Physical Damage Coverage Agreement
SALVAGE AND RECOVERIES. All salvages, recoveries, and payments recovered or received subsequent to a loss settlement under this Master Policy will be applied as if recovered or received prior to such settlement and all necessary adjustments will be made by the parties hereto.
SALVAGE AND RECOVERIES. All salvages, recoveries, and payments, excluding proceeds from subrogation and underlying insurance recovered or received prior to a loss settlement under this Section, shall reduce the loss accordingly.
