Laserfiche WebLink
C. Rectification Costs means direct costs and expenses the Company deems necessary to <br /> rectify a Design Defect, or to prevent further damages resulting from a Design Defect. <br /> Rectification Costs do not include: (1) any of the Insured's profit, mark-up, overhead or <br /> betterment to a project to which Rectification Costs apply (2) Claim Expenses and (3) any <br /> costs or expenses incurred by any Insured prior to the Company's written agreement. <br /> For the avoidance of doubt, Rectification Costs do not include any indirect costs for <br /> consequential damages, including but not limited to delay costs, cost overruns, increase in <br /> funding costs or loss of use. <br /> D. Rectification Retained Amount means the retained amount which applies on an each and <br /> every Design Defect basis shown in the Schedule of this endorsement and shall only be <br /> reduced by Rectification Costs. If the same Design Defect results in a Claim thereafter, <br /> then the amount paid by the Named Insured in satisfaction of the Rectification Retained <br /> Amount shall be applied to the Deductible or Self-Insured Retention, whichever is applicable. <br /> E. Temporary Works means temporary formwork or structures designed and constructed for use <br /> as construction aids during the construction of the construction project. <br /> ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS SHALL REMAIN UNCHANGED. <br /> OAmerican International Group,Inc. All rights reserved. <br /> s� <br /> ') <br /> Authorized Representative <br /> LX6266 (03/18) <br /> 128689 Page 3 of 3 <br />