Common use of Allocation of Amounts Clause in Contracts

Allocation of Amounts. For purposes of the exhaustion of any limits that apply to coverage available under the Insurance Policies, amounts shall be allocated to the Insurance Policies on a first come/first served basis. That means that amounts covered by such Insurance Policies shall be allocated to such Insurance Policies in the order in which such amounts were paid by the insurance companies.

Appears in 2 contracts

Sources: Insurance Matters Agreement (Huntington Ingalls Industries, Inc.), Insurance Matters Agreement (Huntington Ingalls Industries, Inc.)