Qualified Claims definition
Examples of Qualified Claims in a sentence
Within ninety (90) days after all Qualified Claims have been paid by the Tort Trust, the National Settlement Administrator shall wind up the affairs of the Claims Resolution Facility and the National Settlement Administrator and the Tort Trustee shall file a joint final report with the Bankruptcy Court and the District Court.
Client shall at all times provide funds adequate for the payment of Qualified Claims, including allocated loss adjustment expenses.
For Qualified Claims awarded 55 base points under CATEGORY I, the National Settlement Administrator shall also award an additional 5 points if the decedent was married on as the date of death as evidenced by the decedent’s certified death certificate.
As a result, the actual amount paid to Settlement Class Members may depend upon the number of Qualified Claims, and their merits.
In determining the amount of Loss Reserves necessary to be established or adjusted as described above, the Qualified Claims Administrator shall consider such facts and circumstances occurring during the period covered by such report as it, in its independent judgment, deems necessary in accordance with prudent practice.
PMA will maintain a non-interest bearing checking account in PMA’s name (“Payment Account”) with PMA’s bank, which is to be funded by Client but which PMA will administer for the purposes of paying Qualified Claims and ALAE in accordance with the procedures set forth in this Section.
After the expiration of each calendar month, PMA will provide Client with a Payment Register and invoice detailing all payments made for Qualified Claims and ALAE during the prior month.
All Qualified Claims for CATEGORY VII shall be allowed by the National Settlement Administrator and be awarded ½ base point.
For Qualified Claims awarded 55 base points under CATEGORY I, the National Settlement Administrator shall also award an additional 5 points for each dependent child under the age of 18 that the decedent had as the date of death, up to a maximum of 15 points.
For Qualified Claims awarded 55 base points under CATEGORY I, the National Settlement Administrator shall also award an additional point for each year decedent’s age was less than 65 on the date of death, up to a maximum of 20 points, as evidenced by the decedent’s certified death certificate.