Maintenance Self-Insured Retention definition
Maintenance Self-Insured Retention means the amount stated as such in the Declarations, which amount is retained by the Insured. Each Insured shall retain such amount net for its own account after exhaustion of all applicable aggregate limits of all Underlying Insurance by actual payment of judgments, claims, or settlements for Loss. The Maintenance Self-Insured Retention shall apply to each occurrence, each loss, or each claim, as applicable, regardless of the number of such occurrences, losses, or claims. The Maintenance Self-Insured Retention shall only be eroded by amounts paid by the Insured which qualify as Loss hereunder; notwithstanding the foregoing, the Maintenance Self-Insured Retention shall not be reduced by payment of Defense Costs.