Loss Limitation definition

Loss Limitation means any limitation on the Minimum WMI Losses or the Minimum AFI Losses under Section 382 of the Code or the Treasury Regulations issued thereunder or issued under Section 1502 of the Code and relating to Section 382 of the Code, as of the end of the Closing Date based on the Laws in effect as of the Closing Date and taking into account all activity through the Closing other than the purchase and sale of the Shares.
Sample 1Sample 2Sample 3

Examples of Loss Limitation in a sentence

  • If the amount for which a Member is considered to be at-risk with respect to the activities of the Company is reduced below zero (e.g., by distributions), the Member will be required to recognize gross income to the extent that their at-risk amount is reduced below zero.Passive Loss Limitation.

  • Passive Loss Limitation: Possibly the most significant change made by the Tax Reform Act of 1986 was the passive loss limitation enacted by Congress in Internal Revenue Code Section 469.

  • Affiliated Stop Loss Limit Plan Property Property Cat UNL Company ($000's) Cat UNL Loss Limitation ------- -------- ------- --------------- GE Re $X $X $X Frankona $X $X $X Med Pro $X $X $X Westport $X $X $X Coregis $X $X $X First Specialty $X $X $X Affiliated Company Total $X Statutory Penalties - The term "Statutory Penalties" shall mean fines imposed by statutes or laws.

  • Section 6.1 Allocation of Net Profit and Loss 22 Section 6.2 Special Allocations 22 Section 6.3 Loss Limitation 24 Section 6.4 Other Allocation Rules 24 Section 6.5 Tax Allocations 24 ARTICLE VII GOVERNANCE 25 Section 7.1 Board of Managers 25 Section 7.2 Composition of the Board 26 Section 7.3 Designation of Board Members 26 Section 7.4 Removals; Vacancies.

  • Subject to the Loss Limitation, this term shall mean all payments by the Company in settlement of claims or losses, payment of benefits, or satisfaction of judgments or awards, including Allocated Loss Adjustment Expense, prejudgment interest which erodes the policy limit, and Unallocated Loss Adjustment Expense, net of other reinsurance, deductibles, or self-insured retentions (all three preceding items, whether collectible or not), salvage, subrogation and all other recoveries.

  • However, this Loss Limitation will be waived if the Company has paid Optional Retrospective Premium of $40,000,000 or greater as stipulated in the article entitled REINSURANCE PREMIUM.

  • ALLOCATIONS E-7 Section 3.1. Profits E-7 Section 3.2. Losses E-7 Section 3.3. Special Allocations E-7 Section 3.4. Curative Allocations E-9 Section 3.5. Loss Limitation E-9 Section 3.6. Other Allocation Rules E-9 Section 3.7. Tax Allocations: Code Section 704(c) E-10 ARTICLE IV.

  • Notwithstanding the provisions of the article entitled MANAGEMENT OF CLAIMS AND LOSSES, this term shall also include 100% of Losses in Excess of Policy Limits and 100% of Extra Contractual Obligations within the constraints of the Loss Limitation.

  • Property Catastrophe Ultimate Net Loss Limitation shall equal X% of the Net Earned Premium of the combined Company and its Affiliated Companies, subject to a maximum of $X million, less all Non-Property Catastrophe Ultimate Net Losses in respect of the combined Company and its Affiliated Companies in excess of X% (estimate $X million) of the Net Earned Premium of the combined Company and its Affiliated Companies to the extent the Non-Property Catastrophe Ultimate Net Losses can be ceded to this Agreement.

  • In the case of a Tax Claim relating to Parent’s or a Company Entity’s use of the Net Operating Loss Limitation, Parent shall obtain the prior written consent of Stockholder Representative (which consent shall not be unreasonably withheld or delayed) before entering into settlement of such claim or ceasing to defend such claim.

Related to Loss Limitation

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Annual Additions means the sum of the following amounts credited to a Participant for a Limitation Year:

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Annual Addition The sum of the following amounts allocated on behalf of a Participant for a Limitation Year, of (i) all Employer contributions; (ii) all forfeitures; and (iii) all Employee contributions. Except to the extent provided in Treasury regulations, Annual Additions include excess contributions described in Code Section 401(k), excess aggregate contributions described in Code Section 401(m) and excess deferrals described in Code Section 402(g), irrespective of whether the plan distributes or forfeits such excess amounts. Annual Additions also include Excess Amounts reapplied to reduce Employer contributions under Section 3.10. Amounts allocated after March 31, 1984, to an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer are Annual Additions. Furthermore, Annual Additions include contributions paid or accrued after December 31, 1985, for taxable years ending after December 31, 1985, attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)) under a welfare benefit fund (as defined in Code Section 419(e)) maintained by the Employer.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.