Excluded Losses definition

Excluded Losses is defined in Section 7.1 hereof.

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Excluded Losses means Losses suffered by an Indemnified Party to the extent directly arising out of the gross negligence or willful misconduct of such Indemnified Party; provided, however, that the term “gross negligence” shall not include gross negligence imputed as a matter of law to any of the Indemnified Parties solely by reason of Lender’s interest in the Collateral or Lender’s failure to act in respect of matters which are or were the obligation of Borrower.

Excluded Losses has the meaning set out in clause 12.5.

Examples of Excluded Losses in a sentence

• The Flood Liabilities and the liabilities in respect of the named storms, as described above retained by Retrocedant as specified above (collectively, the "Excluded Losses") shall not be subject to this Agreement.

• Loss Reserves shall not include any loss and loss adjustment expense reserves or ceding commission reserves relating to Excluded Losses.

• Loss Reserves shall not include any loss and loss adjustment expense reserves relating to Excluded Losses.

• Manager assumes no responsibility other than to render the Services in accordance with the Performance Standard and shall not be responsible for any action of the Trustee in following or declining to follow any advice or recommendation of Manager other than with respect to the Excluded Losses.

• For the purposes of calculating the Net Loss Amount, no amount that qualifies as Excluded Losses and Costs shall be deducted from amounts received, or added to amounts paid or accounted for, by UBS or any Group Company, including where such Excluded Losses and Costs were (implicitly or explicitly) included in the consideration paid in connection with any Realisation.

More Definitions of Excluded Losses

Excluded Losses means any consequential, special or indirect damages, lost profits, lost investment or business opportunity, interest, damages to reputation, punitive damages, exemplary damages, treble damages, nominal damages and operating losses.

Excluded Losses has the meaning set forth in Section 10.2(c).

Excluded Losses means (i) punitive, special or exemplary damages and (ii) any Losses that are not probable or reasonably foreseeable and that were not proximately caused by (A) the breach or alleged breach of this Agreement or any of the other Transaction Documents or (B) the facts, circumstances or basis of the other matters giving rise to a claim for indemnification hereunder.

Excluded Losses has the meaning assigned thereto in Section 7.2.

Excluded Losses means (i) any Losses for which FBGH Parties have indemnification obligations under Sections 8.2(b) through and including 8.2(l); (ii) any Losses for which Buyer has indemnification obligations under Sections 8.4(b) through and including 8.4(d); (iii) any Losses arising from or due to Fraud by FBGH Parties or Buyer, respectively; and (iii) Seller’s payment obligations under Section 7.2.

Excluded Losses means any Action or Losses that arise out of or are based on any action or failure to act by Manager to the extent such Action or Losses are determined, by a final non-appealable judgment by a court of competent jurisdiction, to have resulted or arisen from Manager’s bad faith, gross negligence or willful misconduct.

Excluded Losses means Losses suffered by an Indemnified Party to the extent directly arising out of the gross negligence or willful misconduct of such Indemnified Party; however , that the term "gross negligence" shall not include gross negligence imputed as a matter of law to any of the Indemnified Parties solely by reason of Lender's interest in the Collateral or Lender's failure to act in respect of matters which are or were the obligation of Borrower.