Aggregate Deductible Clause Samples
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Aggregate Deductible. The maximum amount to be borne by the participant in respect of the sectional or combined deductible applicable to all occurrences during the current period of cover. In the event of mid-term cancellation, shortening, or extension of the period of cover, the aggregate deductible shall be adjusted proportionately. If the amount of losses exceed the proportionate aggregate deductible for the same period, the difference shall be payable by the Insurers to the participant. The aggregate deductible is eroded on a claims paid basis, i.e. for the purpose of determining whether or not a claim is payable in terms of the aggregate, the payment is not off-set against the balance until actual payment is made.
Aggregate Deductible. Notwithstanding anything contained in this Agreement to the contrary, Buyer shall not be entitled to any remedy relating to an alleged material Environmental Defect or Title Defect unless, and except to the extent that, the aggregate cost associated with remedying all alleged material Environmental Defects and Title Defects not cured or indemnified against by Seller exceeds Three Million Forty Thousand Dollars ($3,040,000.00) (4% of the Purchase Price) (the “Aggregate Adjustment Deductible”) and Buyer shall be solely responsible for and bear all costs and expenses after Closing associated with any and all alleged Environmental Defects and Title Defects up to the Aggregate Adjustment Deductible.
Aggregate Deductible. The total deductible for all covered claims during the policy period shall not exceed the named storm deductible. The aggregate deductible shall apply separately to Condominium Unit claims and to Personal Property claims.
Aggregate Deductible. Notwithstanding Section IV.(A) above, an Insured’s obligation to pay the applicable Deductible shall not exceed the Aggregate Deductible, if any, shown in the Declarations of this Policy, regardless of the number of Claims, claimants, Insureds or applicable Insuring Agreements.
Aggregate Deductible. The total deductible for all covered claims during the policy period shall not exceed the named storm deductible. The aggregate deductible shall apply separately to Dwelling claims and to Personal Property claims. Example: If your Coverage A – Dwelling Limit of Liability is $500,000, and your named storm deductible is 3%, the amount of your aggregate deductible for the current policy term will be $15,000. If you have two Coverage A – Dwelling claims of $6,000 each, for a total of $12,000, during the current policy period, you will not receive any payment under this policy. If you have two Coverage A – Dwelling claims during the policy period, one for $5,000, and another for $20,000, your damages will have exceeded your aggregate deductible of $15,000. You will be entitled to recover some of your damages for the second claim, subject to the terms and conditions of this policy.
Aggregate Deductible. Notwithstanding anything contained in this Agreement to the contrary, Buyer shall not be entitled to any remedy relating to an alleged Environmental Defect, Title Defect of Casualty Defect unless, and except to the extent that, the aggregate cost associated with remedying all alleged Environmental Defects, Title Defects and Casualty Defects not cured or indemnified against by Sellers exceeds Three Percent (3%) of the Purchase Price (the “Aggregate Adjustment Deductible”) and Buyer shall be solely responsible for and bear all costs and expenses associated with any and all alleged Environmental Defects, Title Defects and Casualty Defects up to the Aggregate Adjustment Deductible.
Aggregate Deductible. Notwithstanding anything to the contrary in Section 8 or Section 9, Buyer may not and has no right to assert or recover for, and there will be no adjustment to the Base Purchase Price or other remedy for, any Title Defect that exceeds the Individual Title Threshold or any Environmental Liability that exceeds the Individual Environmental Threshold unless and until the aggregate sum of all Title Defect Amounts and all Environmental Liability Amounts exceeds two percent (2%) of the Base Purchase Price (the “Aggregate Deductible”), after which point Buyer will be entitled to adjustments to the Base Purchase Price as set forth in Section 8 and in Section 9 for any amounts which have been finally determined in excess of the Aggregate Deductible only.
Aggregate Deductible. There shall be no reduction to the Purchase Price or other remedies provided by Seller for any Environmental Defect unless the Environmental Defect Amount of all Environmental Defects in the aggregate (excluding any Environmental Defects Remediated by Seller), plus the Title Defect Amounts of all Title Defects in the aggregate, exceed the Aggregate Deductible, after which point Buyer shall be entitled to adjustments to the Purchase Price and remedies with respect to such Environmental Defects in excess of the Aggregate Deductible.