Covered Losses has the meaning set forth in Section 9.2(b).
Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.
Covered Losses means, subject to Section 9.7, losses, liabilities, claims, fines, deficiencies, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), penalties and reasonable attorneys’ and accountants’ fees and disbursements; provided that in no event shall Covered Losses include any amounts in respect of Taxes for which indemnification may be sought pursuant to Section 6.1 or Section 6.2.
Examples of Covered Losses in a sentence
The Reinsurer shall be subrogated to all rights of AXIS against any Person who may be legally responsible in damages constituting Covered Losses for which the Reinsurer shall actually pay on or after the Effective Date (but only to the extent of the amount of payment by the Reinsurer).
More Definitions of Covered Losses
Covered Losses means Reinsurance Agreement Losses and Allocated Loss Adjustment Expenses.
Covered Losses means all losses, liabilities, expenses or damages (including reasonable attorneys' fees and expenses) paid to any Third Party Claimant for claims or legal actions arising out of the Senior Loan or the Management Agreement or the performance of responsibilities, or taking of actions or decisions pursuant to either, but shall not include claims or actions to collect or enforce the Outside Financing or any other contractual obligation of the Company.
Covered Losses means those Claims payable by Aspen on or after the Effective Date with respect to the Subject Business, including all amounts payable in respect of Allocated Loss Adjustment Expenses, Reinsured Extra Contractual Obligations, and ex gratia payments for which the Reinsurer has provided its prior written consent or which are made by or at the express written direction of the Administrator; provided, that “Covered Losses” shall not include any Excluded Liabilities.
Covered Losses has the meaning ascribed to such term in Section 8.02(c)(iii).
Covered Losses means any and all losses, liabilities, claims, fines, deficiencies, damages, obligations, payments (including, without limitation, those arising out of any settlement, judgment or compromise relating to any Action), reasonable costs and expenses (including, without limitation, interest and penalties due and payable with respect thereto and reasonable attorneys' and accountants' fees and any other reasonable out-of-pocket expenses incurred in investigating, preparing, defending, avoiding or settling any Action), including, without limitation, any of the foregoing arising under, out of or in connection with any Action, order or consent decree of any Governmental Authority or award of any arbitrator of any kind, or any law, rule, regulation, contract, commitment or undertaking.
Covered Losses. Part A Covered Losses: Subject to the Overall Aggregate Limit and the Part A Aggregate Sublimit, Part A Covered Losses shall mean Fifty Percent (50%) of Part A Subject Losses in excess of the Part A Aggregate Retention. Part B Covered Losses: Subject to the Overall Aggregate Limit and the Part B Sublimit, Part B Covered Losses shall mean Fifty Percent (50%) of Part B Subject Losses in excess of the Part B Aggregate Retention.
Covered Losses means losses, liabilities, Taxes, claims, fines, deficiencies, assessments, charges, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), penalties and reasonable attorneys’ and accountants’ fees and disbursements, in each case that are due and payable; provided that Covered Losses shall not include any punitive or similar damages except to the extent such damages are awarded by a Judgment against, and paid by, an Indemnified Party pursuant to a Third Party Claim.