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.
View Source

Examples of Loss Limitation in a sentence

  • 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.

  • 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.

  • 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 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.

  • 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.

  • Any Net Loss otherwise allocable to a Member but for the Loss Limitation ("Contingent Loss") shall be allocated among the other Members, pro rata based on their respective positive Capital Account balances, subject to the Loss Limitation.

  • Other than its interest in the Net Losses of DBNY as described and limited in the preceding sentence, Affiliate has no obligation to bear the Net Losses of DBNY and nothing in this Agreement creates or imposes an obligation on Affiliate to reimburse or indemnify DBAG or DBNY for any losses of Affiliate or DBNY beyond the Loss Limitation Amount.

  • INTERIM OPERATIONS 28 Section 8.1 Operations Prior to Closing 28 Section 8.2 Restricted Activities 28 Section 8.3 Casualty Loss 30 Section 8.4 Casualty Loss Limitation 30 ARTICLE IX.

  • If Hologic's aggregate ----------------------------------- Loss resulting from its indemnities and payments under this Agreement exceeds the Loss Limitation computed under Section 11(d), then Hologic may invoice SBCC for the amount of such excess Loss.

  • Allocations of Profits and Losses 22 Section 6.2 Adjustments and Special Allocations 22 Section 6.3 Curative Allocations 24 Section 6.4 Loss Limitation.

  • Interest payable hereunder shall not be included in any Loss Limitation.

Related to Loss Limitation

  • Loss Allocation Limitation As defined in Section 4.4(g).

  • Maximum daily discharge limitation means the highest allowable “daily discharge.”

  • Deduction Limitation means the following described limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan. Except as otherwise provided, this limitation shall be applied to all distributions that are "subject to the Deduction Limitation" under this Plan. If an Employer determines in good faith prior to a Change in Control that there is a reasonable likelihood that any compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code Section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any distribution to the Participant pursuant to this Plan prior to the Change in Control is deductible, the Employer may defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this limitation shall continue to be credited/debited with additional amounts in accordance with Section 3.6 below, even if such amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the Participant or his or her Beneficiary (in the event of the Participant's death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or payable to the Participant for the taxable year of the Employer during which the distribution is made will not be limited by Section 162(m), or if earlier, the effective date of a Change in Control. Notwithstanding anything to the contrary in this Plan, the Deduction Limitation shall not apply to any distributions made after a Change in Control.

  • Acid rain emissions limitation means, as defined in 40 CFR 72.2*, a limitation on emissions of sulfur dioxide or nitrogen oxides under the acid rain program under Title IV of the Clean Air Act (CAA).

  • 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