Determination of a Claim Clause Samples

The "Determination of a Claim" clause outlines the process by which a claim made under a contract is reviewed and decided upon by the relevant party or authority. Typically, this clause specifies the steps for submitting a claim, the documentation required, and the timeframe within which a decision must be made. For example, it may require the claimant to provide detailed evidence and allow the other party an opportunity to respond before a final determination is issued. The core function of this clause is to ensure a clear, fair, and orderly method for resolving claims, thereby reducing disputes and uncertainty between the parties.
Determination of a Claim. After the expiration of a period of thirty (30) days following the time of delivery of the notice of claim described in Section 11.4 (a “Notice of Claim”) to the Indemnifying Party, the Indemnified Party’s indemnification right shall be deemed perfected unless (a) any Indemnifying Party shall object in a written statement delivered to the Indemnified Party to the claims made in the Notice of Claim and (b) such statement shall have been delivered to the Indemnified Party prior to the expiration of such thirty (30) day period. Any indemnification claim that is deemed to be perfected under this Section 11.5 because the Indemnifying Party does not object thereto in the manner described in the preceding sentence is referred to herein as an “Agreed Claim.” For any indemnification claim by a Buyer Indemnitee that is deemed to be perfected under this Section 11.5, for which a Notice of Claim was delivered to the Indemnifying Party on or before the applicable time period specified, Buyer may submit to the Indemnifying Party a certificate signed by an officer of Buyer describing the Agreed Claim and certifying as to Buyer’s entitlement to indemnification from Indemnifying Party with respect to such Agreed Claim.
View SourceView Similar (3)
Determination of a Claim. (a) Unless otherwise agreed by EXIM Bank and the Policyholder, EXIM Bank shall make a determination of the Policyholder’s claim promptly, and in any event must notify the Policyholder, of its determination upon the "Claim Determination Date", being the date the later of: (i) the expiry of the Waiting Period; or (ii) thirty (30) business days after the date upon which the Policyholder provided the first Claim Form; or (iii) if additional evidence has been reasonably requested by EXIM Bank within the time period specified in Article 7.3., thirty (30) business days after the date of provision of such information. (b) Where EXIM Bank has determined that the Policyholder’s claim is not valid or that the Policyholder is not entitled to receive indemnity for a Loss it has incurred, EXIM Bank shall provide the Policyholder with a detailed written explanation of why the claim is being denied within the time frames detailed above. (c) Subject to the Maximum Aggregate Liability, in the event of a Loss, and unless otherwise agreed by the Policyholder and EXIM Bank, indemnification due to the Policyholder under this Policy shall be payable within thirty (30) days after the Claim Determination Date.
View SourceView Similar (2)
Determination of a Claim. After the expiration of a period of thirty (30) days following the time of delivery of the notice of claim described in Section 11.4 (a “Notice of Claim”) to the Indemnifying Party, the Indemnified Party’s indemnification right shall be deemed perfected unless (a) any Indemnifying Party shall object in a written statement delivered to the Indemnified Party to the claims made in the Notice of Claim and (b) such statement shall have been delivered to the Indemnified Party prior to the expiration of such thirty (30) day period. Any indemnification claim that is deemed to be perfected under this Section 11.5 because the Indemnifying Party does not object thereto in the manner described in the preceding sentence is referred to herein as an “Agreed Claim.”
View Source
Determination of a Claim. Within 90 days after receipt of the claim by the Administrator, the Administrator shall furnish to the claimant written notice of the decision with respect to the claim. If special circumstances require an extension of time of no more than 90 additional days, then written notice will be given to the claimant before the end of the original 90 day period and will (a) explain the reasons for the delay and (b) specify when a determination of the claim is expected to be made. If the claim is wholly or partially denied, the written notice shall set forth in a manner reasonably (a) the specific reason or reasons for the denial; (b) specific reference to pertinent Plan provisions on which the denial is based; (c) a description of additional material or information that should have been included with the claim, if any, and explain its importance in the determination of the claim; and (d) an explanation of this claims procedure. If the claimant does not receive a denial notice within 90 days of the date he/she filed the claim (or a notice of delay in the processing the claim), the claim shall be deemed denied, and such claimant may appeal the denial in accordance with the procedures set forth herein below.
View Source

Related to Determination of a Claim

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Determination of Eligibility The Plan Administrator shall determine the eligibility of each Employee for participation in the Plan based upon information provided by the Employer. Such determination shall be conclusive and binding on all individuals except as otherwise provided herein or by operation of law.

  • Determination of Adverse Consequences The Parties shall take into account the time cost of money (using the Applicable Rate as the discount rate) in determining Adverse Consequences for purposes of this §8. All indemnification payments under this §8 shall be deemed adjustments to the Purchase Price.

  • Determination of Disputes Any dispute arising under this Section 2.6 shall be resolved pursuant to the dispute resolution procedures of Article 7.

  • Determination of Adjustments If any questions will at any time arise with respect to the Exercise Price or any adjustment provided for in Section 4.8, such questions will be conclusively determined by the Company’s Auditors, or, if they decline to so act any other firm of certified public accountants in the United States of America that the Company may designate and who will have access to all appropriate records and such determination will be binding upon the Company and the Holders of the Warrants.