Incurred Amount definition
Examples of Incurred Amount in a sentence
Any disputes so settled shall be binding for the determination of the Final Net Incurred Amount.
The final determination of the Independent Actuary respecting the amount of the Remaining Net Incurred Amount will be final, binding and conclusive on Purchaser and Seller.
To the extent that the Professional Costs Paid Amount is less than $4,900,000, the Purchase Price shall be increased dollar-for-dollar by the Professional Costs Incurred Amount; provided, however, that the sum of such increase plus the Professional Costs Paid Amount shall not exceed $4,900,000.
I have not been and will not be reimbursed by insurance or otherwise for these expenses and request reimbursement: Type of Medical Expense Date Incurred Amount All invoices and other receipts related to this claim are attached.
The Monthly Benefit payment for the second and subsequent months, provided You are still eligible, will be equal to the greater of: (a) 3% of the Incurred Amount as of the date of Your Total Disability; or (b) $10 and shall remain level thereafter.
The Independent Actuary will act as an arbitrator to determine only those issues pertaining to the Remaining Net Incurred Amount as to which Seller has disagreed in the notice of objection duly delivered by Seller to Purchaser pursuant to this sub-section that are disputed by Purchaser.
The Monthly Benefit payment for the second and subsequent months, provided You are still eligible, will be equal to the We will pay the Incurred Amount as of the date of Your Disability Requiring Hospitalization less the Benefit previously paid following Your initial 24 hours of Disability Requiring Hospitalization, up to a maximum of $10,000.
If such dispute remains unresolved after a period of 30 days following the date on which Seller gives Purchaser a written notice of objection, Purchaser shall engage a nationally recognized independent actuarial firm (the “Independent Actuary”), that (A) does not have a conflict of interest with respect to such engagement that is not waived by the parties and (B) is mutually acceptable to Purchaser and Seller, to resolve any remaining dispute regarding the amount of the Remaining Net Incurred Amount.