Open Claims definition

Open Claims is defined in Section 6.8(b).

Open Claims has the meaning set forth in Section 8.7.

Open Claims or "pending claims" are Asbestos-Related Claims that are not "closed" so far as the Producer or entity in question is concerned.

Examples of Open Claims in a sentence

• For purposes of this agreement, the “Unclaimed Deposit” shall mean the entire balance of the Escrow Account then remaining, minus the aggregate of the then existing Claim Reserves for Open Claims and any interest accrued thereon.

• To the extent Buyer has asserted indemnification claims hereunder or under the Other Acquisition Agreement that have not been satisfied or resolved (“Open Claims”) at the time that Buyer is obligated to pay any EBITDA Payment Amount hereunder, Buyer may offset the amount of such Open Claims against the EBTIDA Payment Amount.

• ReportingThe IT team generated several Open Claims reports and Outstanding Carrier Fines for external stakeholders and provided Compliance reports for internal staff.

• Upon final resolution of the Open Claims, Parent shall remit the remaining balance, if any, of the Reserve Amount and any interest thereon net of taxes incurred by Parent thereon to the Sellers.

• The Reserve Amount shall be deposited into an interest bearing account so long as the Open Claims remain pending.

More Definitions of Open Claims

Open Claims means the Direct Claims arising under or constituting the Workers’ Compensation Book (other than the Excluded Losses) and which have not been paid, settled, or otherwise closed prior to July 1, 2011, or such other date as specified in the relevant provision or report.

Open Claims means the existing known and open claims arising as a result of

Open Claims shall have the meaning ascribed to it in Section 1.5.

Open Claims means claims which have been reported to the insurer and which are not yet settled.

Open Claims is defined in Section 7.11(a)(i).

Open Claims means all claims arising under all Insurance Contracts with an accident date occurring prior to July 1, 2018, but specifically excluding the Specified Claims.

Open Claims for this purpose shall mean any situation where notice of injury was given to the member, whether or not the member reported the same. In the event the Board is unable to identify or deliver a refund for any reason, such monies shall remain in the Fund for the benefit of the remaining members.