Claim Review Period definition
Examples of Claim Review Period in a sentence
Recognizing the urgent nature of these communications, within six (6) business days of receipt of such information (the "Contested Claim Review Period"), the Reinsurer shall notify the Ceding Company in writing of the Reinsurer's decision whether or not it shall participate in the Contest.
If the Reinsurer does not respond to the Ceding Company within the Contested Claim Review Period, the Reinsurer will be deemed to have elected to participate in the Contest, and any settlement made by the Ceding Company shall be binding on the Reinsurer.
The Reinsurer may extend the Contested Claim Review Period by two (2) additional business days by written notice to the Ceding Company, if such notice is provided by the end of the initial five-day period.
Should Buyer identify any such incorrect payment or inaccuracy, Supplier will be provided with at least fifteen (15) days’ written notice (“Claim Review Period”) of any such audit claim, and will be deemed to have accepted the audit claim unless it objects to the same in writing to Buyer within the Claim Review Period.
If during the Claim Review Period the Secretary of the Parent Corporation shall give written notice to the Shareholders' Representative objecting to the claim, then unless otherwise agreed by the Parent Corporation and the Shareholders' Representative, the validity and amount of the claim shall be determined in accordance with the dispute resolution provisions of Section 1.10 of the Escrow Agreement with respect to Contested Claims.
If the Reinsurer does not respond to the Ceding Company within the Contested Claim Review Period, the Reinsurer will be deemed to have elected to participate in the Contest.
The Reinsurer may extend the Contested Claim Review Period by two (2) additional business days by written notice to the Ceding Company, if such notice is provided by the end of the initial six-day period.
Recognizing the urgent nature of these communications, within eight (8) business days of receipt of all such information (the "Contested Claim Review Period"), the Reinsurer shall notify the Ceding Company in writing of the Reinsurer's decision whether or not it shall participate in the Contest.
If the Indemnifying Party and the Indemnified Party agree, on or prior to the expiration of the Direct Claim Review Period, upon the validity and amount of such Direct Claim, the Indemnifying Party shall pay to the Indemnified Party, within ten (10) days following the date of such agreement, the full agreed amount of such Direct Claim.
If the Stockholders’ Representative delivers a Claim Notice of Objection to Buyer within the Claim Review Period, and such Claim Notice of Objection shows that only a proportion of the Amount Claimed is disputed, then the balance of the Amount Claimed shall be deemed to have been accepted by the Stockholders and the Escrow Agent shall be immediately directed by the Buyer and the Stockholders to release to the Buyer such proportion of the Amount Claimed.