Where the Reassured definition

Where the Reassured s original policies and/or specific coverage parts of their original policies provide for loss adjustment expenses in addition to limit, all loss adjustment expenses paid by the Reassured shall be apportioned in proportion to the respective interests in the loss of the parties hereto as such interests finally appear, provided that in the event a verdict or judgment is reduced by an appeal or a settlement, subsequent to the entry of the judgment, resulting in an ultimate saving on such verdict or judgment, or a judgment is reversed outright, the expense incurred in securing such final reduction or reversal shall be pro rata between the Reinsurers and the Reassured in the proportion that each benefits from such reduction or reversal; and the expenses incurred up to the time and date of the original verdict or judgment shall be pro-rated in proportion to each party's interest in such verdict or judgment. In the event of external legal or external adjustment expenses, including outside monitoring counsel expenses, which are incurred by the Reassured in connection with a claim or potential claim hereunder and which are not the subject of the Reassured's original policy, then Reinsurers shall also be liable for their proportion of such expenses in addition to their share of the loss recoverable hereunder. The Reinsurers shall also accept additional liability, solely on cessions made hereunder, for legal expenses incurred in respect of coverage questions and legal actions in connection with a claim or potential claim hereunder (hereinafter referred to as "declaratory judgment and/or rescission expenses"). It is understood and agreed that:
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Where the Reassured s original policies and/or specific coverage parts of their original policies provide for loss adjustment expenses in addition to limit, all loss adjustment expenses paid by the Reassured shall be apportioned in proportion to the respective interests in the loss of the parties hereto as such interests finally appear, provided that in the event a verdict or judgment is reduced by an appeal or a settlement, subsequent to the entry of the judgment, resulting in an ultimate saving on such verdict or judgment, or a judgment is reversed outright, the expense incurred in securing such final reduction or reversal shall be pro rata between the Reinsurers and the Reassured in the proportion that each benefits from such reduction or reversal; and the expenses incurred up to the time and date of the original verdict or judgment shall be pro-rated in proportion to each party's interest in such verdict or judgment. In the event of external legal or external adjustment expenses, including outside monitoring counsel expenses, rescission expenses and declaratory judgment expenses, which are incurred by the Reassured in connection with a claim or potential claim hereunder and which are not the subject of the Reassured's original policy, then Reinsurers shall also be liable for their proportion of such expenses in addition to their share of the loss recoverable hereunder. For the purposes of this Contract loss adjustment expenses shall include all expenses of litigation, including post judgment interest, but shall exclude the salaries of regular employees and all office expenses of the Reassured. All salvages, recoveries or payments recovered or received subsequent to a loss settlement under this Contract shall be applied as if recovered or received prior to the aforesaid settlement and all necessary adjustments shall be made by the parties hereto. Paid and outstanding loss bordereaux for all claims with incurred amounts (indemnity, defense and expense combined), established by the Reassured of $500,000 or more for to be rendered by the Reassured within forty-five (45) days of the end of each calendar quarter, being within forty-five (45) days of June 30th, 2005 and quarterly thereafter. It is understood and agreed, both by the Reassured and Reinsurers, that all paid and outstanding losses shall be advised to Reinsurers solely by quarterly bordereaux and that no individual loss reports are to be provided unless specifically requested by Reinsurers. The bordereaux shall solel...
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Related to Where the Reassured

  • Reassured shall be understood to mean “Company”, “Reinsured”, “Reassured” or whatever other term is used in the attached reinsurance document to designate the reinsured company or companies.

  • Abandon means the vacating of all or a substantial portion of the leased premises by Lessee, whether or not Lessee is in default of the rental payments due under this Lease.

  • Procurer means Rajasthan Urja Vikas Nigam Limited on behalf of Discoms

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • MD&A means management’s discussion and analysis.

  • LBD means any day on which commercial banks are open for general business (including dealing in foreign exchange and foreign currency deposits) in London;

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Builder means the general contractor.

  • Condemnor means any public or quasi-public authority, or private corporation or individual, having the power of Condemnation.

  • Close of Escrow or “Closing” means the date Escrow Holder records the Deed in favor of Buyer. The Closing shall take place on the Closing Date set forth in Section 1.5.1, as the same may be extended, provided all conditions to the Closing have been satisfied or duly waived as provided herein.

  • Reassurance means to offer an individual encouragement and support.

  • Collocate means to install or mount a Small Wireless Facility in the public right-of-way on an existing Support Structure, an existing Tower, or on an existing Pole to which a Small Wireless Facility is attached at the time of the application. “Collocation” has a corresponding meaning.

  • BMR means the EU Benchmarks Regulation (Regulation (EU) 2016/1011). "Non-Approval Event" means, in respect of the Benchmark:

  • Sublessor means one who conveys real property by sublease."

  • Should means that a certain feature, component and/or action is desirable but not mandatory.

  • the Landlord means the party named on the first page of this Agreement and any successor and any person who has an interest as heritable proprietor in The Property, even if not named in this Agreement. The Landlord agrees to inform The Agent, in writing, of any changes to ownership of The Property, contact telephone numbers, postal or e-mail addresses as soon as possible and in any event within 7 days of the change.

  • Lessors means a lessor under a Superior Lease.

  • Owner-builder means an owner or lessor of real property who, by himself or by or through others, constructs or has constructed or reconstructs or has reconstructed any improvement to real property.

  • Construction-manager-at-risk means a project delivery method in which:

  • Landlord means the owner, lessor or sublessor of the dwelling unit or the building of which such

  • Franchisor means Marriott International, Inc.

  • Anchor Tenant means, with respect to a Community Renewable Energy Generation Project, the non-End Use Customer subscriber designated by Seller as such under its SFA application.” The following is added as Section 1.3.3:

  • The Lessor Agent" for "the Lessee", "Unit Premises, Unit Improvements, Unit FF&E and Unit" for "Parcel of Property" and "Section 13" for "Section 28".

  • Office of the Interconnection Control Center means the equipment, facilities and personnel used by the Office of the Interconnection to coordinate and direct the operation of the PJM Region and to administer the PJM Interchange Energy Market, including facilities and equipment used to communicate and coordinate with the Market Participants in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.

  • Construction Manager means a competent person responsible for the management of the physical construction processes and the coordination, administration and management of resources on a construction site;

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.