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.
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Examples of Loss Sharing in a sentence

  • For the avoidance of doubt, each Lender agrees that any Term Loan that is converted to an Extended Term Loan (and the Extending Lender providing such Extended Term Loan) shall continue to be subject to the Loss Sharing Agreement to the same extent as the Term Loan from which such Extended Term Loan was converted.

  • Without limiting the generality of the foregoing, each of the Lenders hereby authorizes and directs the Administrative Agent and/or the Collateral Agent to bind each Lender to the actions required by such Lender under the terms of the Lender Loss Sharing Agreement and any intercreditor agreement, including the Intercreditor Agreement.

  • The parties acknowledge that DBS is a wholly-owned subsidiary of DBAG and that DBAG and DBS are parties to a Profit and Loss Sharing Agreement (Ergebnisabfuehrungsvertrag).

  • 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.

  • 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.

  • This Agreement shall be effective as of the date on which (a) all entities listed on the signature pages hereto have executed the Agreement; and (b) all entities listed on the signature pages thereto have executed each of the Omnibus Agreement, Consent to Amendment of Interchange Judgment Sharing Agreement, and Consent to Amendment of Loss Sharing Agreement (the “Effective Date”).

  • 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.

  • This Omnibus Agreement shall be effective as of the date on which (a) all entities listed on the signature pages hereto have executed the Omnibus Agreement; and (b) all entities listed on the signature pages thereto have executed each of the MasterCard SJSA, Consent to Amendment of Interchange Judgment Sharing Agreement, and Consent to Amendment of Loss Sharing Agreement (the “Effective Date”).

  • The relevant Swingline Agent shall give at last 3 Business Days notice to each affected Lender of the Loss Sharing Date and notify it of the amounts to be paid or received by it.

  • None of the representations and warranties in this Agreement or in any instrument delivered pursuant to this Agreement shall survive the Closing; provided, however, that nothing in this Section 9.1 shall impact the survival of any representations and warranties included in the Loss Sharing Agreement, the Litigation Management Deed and any other Transaction Document that by their terms are expressly contemplated to survive the Closing.

Related to Loss Sharing

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

  • Cost sharing means the respective share of Total Project Costs to be contributed by the Applicant and by DOE. The percentage of Applicant Cost Share is to be applied to the Total Project Cost (i.e., the sum of Applicant plus DOE Cost Shares) rather than to the DOE contribution alone.

  • Sharing means the use by two or more persons, in an arrangement not involving resale, of a telecommunications service provided by a Telecommunications Provider.

  • Revenue sharing means sharing tax increment proceeds as defined in ORS 457.470.

  • Car sharing start time means the time when the shared vehicle becomes subject to the control of the shared vehicle driver at or after the time the reservation of a shared vehicle is scheduled to begin as documented in the records of a peer–to–peer car sharing program.