Loss Sharing definition

Loss Sharing. All Subcontractors and Sub-subcontractors involved in a loss which arises from their negligence as reasonably determined by the Contractor, shall share equally in the first $10,000 of such loss. Primary and non-contributory: Any insurance provided under this Section 11.2 shall be endorsed to be primary and non-contributing with any insurance or self-insurance maintained by the Named Insureds and Additional Insureds. Loss Sharing: The limits of liablity provided under the commercial general liablity insurance apply collectively for all Named Insureds and Additional Insureds. Insurance Credits: The Contractor will deduct a credit, as specified by the AOC in consultation with the Contractor, from each Subcontract amount and any change order increasing the Subcontract amount, and the Contractor and Subcontractor agree that all insurance charges for any OCIP insurance have been removed from its cost of work and any duplication in insurance coverage will not be reimbursed.
Sample 1

Examples of Loss Sharing in a sentence

  • Loss Sharing Ratio In accordance with the ratio of the Musharakah Parties’ respective prevailing capital contribution for the Diminishing Musharakah Arrangement.

  • Neither the Commitment nor any other right or obligation hereunder may be assigned, pledged or otherwise transferred, in whole or in part, to any Person without the prior written consent of the other parties hereto, provided that, for the avoidance of doubt, GMAC may collect Loss Sharing Payments on behalf of, or direct that Loss Sharing Payments be made to, GMAC Subsidiaries.

  • For the avoidance of doubt, LLC shall not use the Loss Sharing Payment Account to pay the fees and expenses of GMAC or LLC in connection with the initial negotiation of and any subsequent negotiation, modification or amendment of this Agreement or any related Agreement.

  • LLC shall keep, or cause to be kept accurate books and records of account of LLC reflecting all transaction with respect to the Loss Sharing Payment Account.

  • Cross-Margining or Other Loss Sharing Arrangements of FICC: Agreement With or Without Priority Over this Agreement After Guaranty Payment is Made DTC/FICC/NSCC/OCC Multilateral Netting Contract and Limited Cross Guaranty Agreement dated January 1, 2003.

  • By: _ Print Name: Title: APPENDIX A [amended June 2014] Cross-Margining or Other Loss Sharing Arrangements of CME: Agreement With or Without Priority Over this Agreement After Guaranty Payment is Made CME/OCC/NYCC Cross-Margining Agreement dated June 7, 1993.

  • The Loan Underwriting, Servicing, and Loss Sharing Agreement will be in a standardized form, approved by RBS, and subject to amendment only with the prior approval of RBS.

  • Each participating Member will execute (a) the Lender's Agreement for the B&I Program, Form 4279-4 ("Lender's Agreement"), and (b) a contract with CFC providing for CFC to fulfill the Member's obligations under the Lender's Agreement ("Loan Underwriting, Servicing, and Loss Sharing Agreement").

  • In the event that any Membership Interest is transferred in accordance with this Agreement, the transferee shall succeed to the Capital Account and the Profit and Loss Sharing Percentage of the transferor Member to the extent such Capital Account related to the transferred interest.

  • Exhibit 5.3(a) 74 SCHEDULE Page Loans Subject to Loss Sharing under the Single Family Shared-Loss Agreement.....................................

Related to Loss Sharing

  • Job Sharing means the sharing by two or more persons of a position.

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • Plan means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Benefit Arrangement means at any time an employee benefit plan within the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).