Contest expenses definition

Contest expenses are interest payable as a result of any delay, reasonable attorneys' fees, court costs and investigation expenses of the contest incurred prior to full settlement by the Ceding Company, and do not include salaries of the Ceding Company's employees and officers or the Ceding Company's normal claim administration costs. The Pool member shall not share in noncontractual damages or any legal or investigative expenses related thereto. Noncontractual damages include punitive, exemplary, compensatory or consequential damages assessed on the basis of fault or wrongdoing on the part of the Ceding Company, its agents or representatives. The Pool will refund any unearned premium to the Ceding Company for premiums paid beyond the date of death of any covered insured. The Ceding Company shall notify the Pool member(s) of its intention to contest or compromise a claim involving reinsurance. If the Pool member(s) does not consent to the contest or compromise, the full amount of reinsurance will be paid to the Ceding Company, and will absolve the Pool member(s) of any further liability under said claim. In the event of any adjustment in the amount of any claim due to misstatement of age or sex of the insured, the reinsurance will be reissued as of the original policy date at the correct age. The Pool member(s) and the Ceding Company will participate in such increase or decrease in proportion to the amount retained by the Ceding Company and reinsured by the Pool member(s) prior to the adjustment. A corresponding adjustment in reinsurance premiums will be made consistent with the charges or credit to the policyholder. If a claim is approved for Disability benefits reinsured hereunder, the Ceding Company will continue to pay reinsurance premiums except the premium for disability reinsurance. The Pool member(s) will pay the Ceding Company its proportionate share of reinsured Disability benefits, including the premiums for benefits that remain in effect during disability.
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Contest expenses means all fees, cost and other expense of investigating and conducting a Contest that relates to the Insured Tax Benefits, but not in excess of the Contest Expenses Sub-limit specified in Section 1(b) above, and not with respect to any expenses paid or incurred by Insured prior to Insurer's consent to pursue a Contest, which consent shall not unreasonably be withheld.
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Contest expenses means the reasonable expense of conducting that part of a Contest that relates to the Insured Tax Benefits including attorney and expert fees. Contest Expenses shall not include any expenses paid or incurred by Insured or Additional Insured prior to Insured's or Additional Insured's Receipt of a 30-Day Letter or similar correspondence relating to a notice of decifiency from applicable state or local taxing authority.
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Examples of Contest expenses in a sentence

  • There were discussions about the Tulsa meeting expense as well as the Weed Contest expenses and movement of money to the Endowment for repaying 2018 Weed Contest overrun.

  • Money Matters Contest expenses may include the rental for a venue, food/drink/paper goods, opportunity drawing items, decorations, and printing.

  • The Speech Contest and Music Contest expenses should be considered expenses of the Conference.

  • Any such Contest expenses shall be shared by the parties to the extent they relate to a Tax matter, shall be borne by Purchaser and Seller Parent in the same proportion as such related Taxes are borne economically by Purchaser and Seller Parent.


More Definitions of Contest expenses

Contest expenses are interest payable, reasonable attorneys' fees, court costs and investigation expenses of the contest incurred prior to full settlement by us, and do not include salaries of your employees and officers or your normal claim administration costs. If your contest, compromise, or litigation results in a reduction in your liability, we shall share in the reduction in the proportion that our net liability bears to the sum of the net liability of all reinsurers on the date of the death of the insured.
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Related to Contest expenses

  • Interest Expenses means, with respect to any Person for any period, the sum, determined on a consolidated basis in accordance with GAAP, of all interest accruing on the Indebtedness of such Person during such period (including interest attributable to Capital Leases).

  • Interest Expense means, with reference to any period, the sum of all interest charges (including imputed interest charges with respect to Capitalized Lease Obligations and all amortization of debt discount and expense) of the Borrower and its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP.

  • Current Expenses means operating costs other than personal services and shall not

  • Trust Expenses means any liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Trust.

  • Net Interest Expense means, for any period, the total of (a) Interest Expense for such period minus (b) Interest Expense to Affiliates for such period to the extent included in the amount referred to in clause (a) and related to (i) interest payments on debt obligations that are subordinated to the obligations of the Borrower under this Agreement, (ii) interest on Nonrecourse Indebtedness or (iii) Transitional Funding Instrument Interest.

  • Cash Expenses means, for any period, the Operating Expenses for the operation of the Property for such period or accrued and payable in such period, as set forth in an Approved Annual Budget to the extent that such expenses are actually incurred or accrued for such period by Borrower, less any payments into the Tax and Insurance Escrow Fund.

  • Litigation Expenses means costs and expenses incurred in connection with commencing, prosecuting, and settling the Action (which may include the costs and expenses of Plaintiffs directly related to their representation of the Settlement Class), for which Lead Counsel intends to apply to the Court for reimbursement from the Settlement Fund.

  • Litigation Expense means any court filing fee, court cost, arbitration fee, and each other fee and cost of investigating or defending an indemnified claim or asserting any claim for indemnification or defense under this Agreement, including Attorney’s Fees, other professionals’ fees, and disbursements. “Attorney’s Fees” include a charge for the service of in-house counsel at the market rate for independent counsel of similar experience.

  • Disposition Expenses means reasonable out-of-pocket expenses incurred by the Servicer in connection with the sale at auction or other disposition of a Leased Vehicle by the Servicer.

  • Restructuring Expenses means losses, expenses and charges incurred in connection with restructuring by U.S. Borrower and/or one or more of its Subsidiaries, including in connection with integration of acquired businesses or persons, disposition of one or more Subsidiaries or businesses, exiting of one or more lines of businesses and relocation or consolidation of facilities, including severance, lease termination and other non-ordinary-course, non-operating costs and expenses in connection therewith.

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Consolidated Non-cash Charges means, with respect to any Person, for any period, the aggregate depreciation, amortization and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person and its Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP (excluding any such charges constituting an extraordinary item or loss or any such charge which requires an accrual of or a reserve for cash charges for any future period).

  • Consolidated Cash Interest Expense means, for any period, Consolidated Interest Expense for such period excluding, however, any interest expense not payable in Cash (including amortization of discount and amortization of debt issuance costs).

  • Consolidated Cash Taxes means for any period for Consolidated Parties on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • Claim Expenses means reasonable documented attorneys’ fees and all other reasonable documented out-of-pocket costs, expenses and obligations (including experts’ fees, travel expenses, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim, including any Action relating to a claim for indemnification or advancement brought by an Indemnified Party as contemplated in Section 7.5.

  • Estimated Transaction Expenses has the meaning set forth in Section 2.3(a).

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Cash Interest Expense means, for any period, Consolidated Interest Expense for such period, less the sum of (a) interest on any debt paid by the increase in the principal amount of such debt including by issuance of additional debt of such kind, (b) items described in clause (c) or, other than to the extent paid in cash, clause (g) of the definition of “Consolidated Interest Expense” and (c) gross interest income of Borrower and its Subsidiaries for such period.

  • Management Expenses means the Management Expenses more particularly described in Clause 10.1;

  • Consolidated Net Interest Expense means, with respect to any Person for any period, (a) gross interest expense of such Person and its Subsidiaries for such period determined on a consolidated basis and in accordance with GAAP (including, without limitation, interest expense paid to Affiliates of such Person), less (b) the sum of (i) interest income for such period and (ii) gains for such period on Hedging Agreements (to the extent not included in interest income above and to the extent not deducted in the calculation of gross interest expense), plus (c) the sum of (i) losses for such period on Hedging Agreements (to the extent not included in gross interest expense) and (ii) the upfront costs or fees for such period associated with Hedging Agreements (to the extent not included in gross interest expense), in each case, determined on a consolidated basis and in accordance with GAAP.

  • Transaction Expenses means any fees or expenses incurred or paid by the Investors, Holdings, the Borrower or any of its (or their) Subsidiaries in connection with the Transactions (including expenses in connection with hedging transactions), this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Property Expenses means the costs (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Eligible Property or Property which secures Other Recourse Debt that are the responsibility of the Borrower or the applicable Material Subsidiary that are not paid directly by any Tenant, but excluding depreciation, amortization, interest costs and maintenance capital expenditures.

  • Transition Expenses The reasonable costs (including reasonable attorneys’ fees) of the Backup Servicer incurred in connection with the transferring the servicing obligations under this Agreement and amending this Agreement to reflect such transfer in an amount not to exceed $100,000.

  • Unpaid Transaction Expenses has the meaning specified in Section 2.4(c).

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.