Reasonable and Necessary Expenses definition
Reasonable and Necessary Expenses means the expenses necessarily and reasonably incurred by the Insured in the geographic area where the service is received. In no event will the Reasonable and Necessary Expenses exceed the charges prevalent in the relevant geographic area where the services are availed.
Reasonable and Necessary Expenses means (i) expenses actually and reasonably incurred (including attorneys’ fees) and (ii) to the extent permitted by Applicable Law, amounts paid as out-of pocket expenses, in each case, by or on behalf of an indemnified person or Insured in connection with any action, suit or proceeding, including any investigation of, preparation for or defense of any such action, “suit” or proceeding, for which such person or Insured is entitled to indemnification under the policy, as applicable, and any appeal therefrom that may be reimbursed under the Your usual expense account practice, as accepted by the Management Committee or Audit Committe or any Standard Operating Practice set forth in Your organization
Reasonable and Necessary Expenses shall include those expenses incident to completion of an assignment, including any travel expenses to and from assignments, lodging and meal expenses, and all other expenses reasonably related to completion of the task. Upon request, Consultant shall document Consultant's consulting expenses to ▇▇▇▇▇▇▇, including receipts for travel, lodging and meals.