Res09 14919 - Laserfiche WebLink

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01/12/2009 (a) For each occurrence, there shall be only one retained limit regardless of the number of claimants or covered parties against whom a claim is made. If the covered parties have different retained limits, the lowest retained limit of any party found liable will apply. Payment of the retained limit shall be apportioned amongst the covered parties in accordance with their proportionate shares of liability. (b) If the payment is for a settlement, the retained limit shall be apportioned amongst the covered parties, in accordance with the respective parties' agreed upon or court- determined share of liability. In the event that the apportionment requires court determination, the covered parties will pay all costs of the Authority in seeking such determination, including its attorney's fees in proportion to the court's determination of liability. 20. Sudden and accidental pollution means the sudden and accidental discharge, dispersal, release, or escape of pollutants, resulting in property damage or bodily injury neither expected nor intended from the standpoint of the covered party, onto or upon the land, into the atmosphere, into or under the ground, or into any watercourse, whether natural or man -made, or body of water or aquifer, but does not include any discharge, dispersal, release, or escape of pollutants, whether sudden or accidental or gradual or intentional from any fixed or stationary container, vessel, or tank of any description whatever, whether located above ground or underground. The coverage provided for sudden and accidental pollution is limited to $100,000 over the retained limit, per occurrence, per covered party. 21. Ultimate net loss means the sum actually paid or payable as damages, attorneys fees, or costs in settlement or satisfaction of a claim, or as defense costs, for which the covered party is liable either by adjudication or by compromise with the written consent of the Authority, after making proper deduction for all recoveries and salvages and other collectible insurance. In the event several Participants are involved in the loss, the ultimate net loss will be apportioned amongst those Participants by dividing the ultimate net loss by the number of Participants involved, unless and until the liability of the various Participants is determined by arbitration or judgment, at which time the ultimate net loss will be apportioned by the relative liabilities of the Participants. Ultimate net loss does not include attorneys' fees or costs awarded to the prevailing party in a suit except where such attorneys' fees or costs are attributable to a claim for damages covered by this MOC. SECTION III - DEFENSE AND SETTLEMENT The Authority shall have no duty to assume charge of investigation or defense of any claim. However, the Authority, at its own expense, shall have the right to assume control of the negotiation, investigation, defense, appeal, or settlement of any claim, which the Authority determines, in its sole discretion, to have a reasonable probability of resulting in an ultimate net J:\ BCJP1A\ Admin \Documents\GoverninglM0C's and MPD's12008- 20091Liability/Liability MOC 2008 -2009 FINAL 050808.doe 7 14919 MUFF #505