ADMINISTRATION OF THE POLICIES Sample Clauses

ADMINISTRATION OF THE POLICIES. Insurer does hereby grant to Darwin authority in all matters relating to risk management and policy administration of the Policies (to the extent such authority may be granted pursuant to applicable law), including, without limitation, the power, without reservation, to bill and collect all premiums for the Policies, to pay all amounts oxxxx to agents or brokers in respect of the policies, to adjust, to defend, to settle and to pay all claims, and to recover (by way of subrogation or otherwise) any losses, incurred under any of the Policies, and to take such other and further actions as may be necessary or desirable to effect the transactions contemplated by this Agreement. Insurer also grants to Darwin authority and discretion with respect to all matters relating to claims settlement, salvage and subrogation and litigation concerning the Policies, including, but not limited to, the selection of counsel therefor. Darwin agrees to remit to Insurer promptly upon receipt thereof (a) all premium payments, (b) any salvage, subrogation or other recoveries received by it in respect of the Policies and (c) all notices of claims, losses or any other information whatsoever relating to the Policies.
Sample 1Sample 2
AutoNDA by SimpleDocs
ADMINISTRATION OF THE POLICIES. As of the Effective Date, the Administrator agrees to perform the Services with the utmost good faith for as long as the Reinsurer is required to provide reinsurance hereunder. The Administrator agrees to indemnify and hold harmless the Company from and against any losses, damages, liabilities, costs, or expenses incurred by the Company as a result of the Administrator's material breach of this Article IX. If the Reinsurer reasonably believes that the Administrator has failed to perform the Services, the Reinsurer shall notify the Administrator in writing of such failure and the Administrator shall have ten (10) business days to cure such failure to the reasonable satisfaction of the Reinsurer. If the Administrator fails or refuses to cure such failure within such period, or has become financially impaired, the Reinsurer may request the Administrator to secure another Person to perform the Services, in which case the Company shall engage another Person selected by the Administrator and reasonably satisfactory to the Company and the Reinsurer to perform the Services. Such other Person shall have in good standing all governmental, regulatory and other licenses, permits and authorizations necessary or required by law to perform the Services. In the event the Administrator is removed from performing the Services pursuant to this Article, the Company and the Administrator shall deliver to the replacement Person providing the Services all reports, records, documents, instruments and other information necessary or required to perform satisfactorily the Services. All costs associated with the transfer of the Services to another Person shall be borne by the Administrator.
Sample 1
ADMINISTRATION OF THE POLICIES. (a) The Policies shall be serviced by the Servicer until the Transaction Termination Date in accordance with the terms of the Contribution, Sale and Servicing Agreement and the Master Agreement. The Servicer retains all rights to provide any notices and instructions to Obligors in connection with the Policies. In the event that the Indenture Trustee obtains any notices, requests for information or other communication from an Obligor, including without limitation, notices regarding the payment of insurance premiums, it shall immediately forward such communication to the Servicer. The Indenture Trustee shall deposit all Policy Proceeds received by it with respect to any Policy in the Collection Account, in accordance with Section 12.02 hereof, and in the event the Servicer receives any payments with respect to a Policy, it shall notify the Indenture Trustee of such receipt and anticipated remittance and shall remit (in the form received, and properly endorsed) such amounts to the Indenture Trustee within one Business Day of receipt thereof for deposit (when such amounts have cleared) in the Collection Account. The Indenture Trustee shall have no obligation to advance funds to the Collection Account. In the absence of an Event of Default, the Indenture Trustee shall not take any action with respect to any Policy without the express written authorization of the Servicer or the Issuer. Notwithstanding that the Indenture Trustee is the assignee of the Policies, the Indenture Trustee shall have no duties or responsibilities under the terms of the Policies except as specifically set forth herein.
Sample 1
ADMINISTRATION OF THE POLICIES. As of the Effective Date, the Company shall perform the Services following commercially reasonable practices for as long as the Reinsurer is required to provide reinsurance hereunder. If the Reinsurer reasonably believes that the Company has failed to perform the Services, the Reinsurer shall notify the Company in writing of such failure and the Company shall have 30 days to demonstrate to the reasonable satisfaction of the Reinsurer that its Services are being performed in a commercially reasonable manner or to cure such failure to the reasonable satisfaction of the Reinsurer. Failure to follow current underwriting practices or to perform other insurance practices in a commercially reasonable manner shall be considered a breach of a covenant by the Company under this Agreement.
Sample 1
ADMINISTRATION OF THE POLICIES. A. The Reinsurer shall administer all matters related to the Policies pursuant to the terms and conditions of the Administrative Services Agreement. Notwithstanding any other provision to the contrary, the Reinsurer acknowledges that (i) in no event shall the Ceding Company have any Liability to the Reinsurer hereunder for any default of its obligations under this Agreement caused by the failure of the Reinsurer to perform its obligations under the Administrative Services Agreement and (ii) in no event shall the failure of the Reinsurer to perform its obligations under the Administrative Services Agreement give the Reinsurer any grounds for not performing its obligations under this Agreement.
Sample 1

Related to ADMINISTRATION OF THE POLICIES

  • Administration of the Plan a. The Plan will be administered by the Company in accordance with its terms and the costs of administration shall be the responsibility of the Company. Upon determination of each Quarterly Profit calculation, such calculation shall be forwarded to the Chair of the Union Negotiating Committee accompanied by a Certificate of Officer signed by the Chief Financial Officer of the Company, providing a detailed description of any adjustments made to Earnings Before Income and Taxes and stating that Profit was determined in accordance with GAAP and that Quarterly Profit was calculated in accordance with this Section.

  • Administration of the Bank a. The Committee maintains records of employees participating, receives requests, verifies validity, approves, and communicates actions to members and to the District.

  • ADMINISTRATION OF THE CONTRACT 2.2.1 The Architect will provide administration of the Contract as hereinafter described.

  • Administration of the Trust Section 3.01

  • Administration and Risk Management Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers. Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, coordination of client portfolios and related fixed income trade execution implementation and administration, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.”

  • Administration of the Agreement The Agreement shall be administered by the Board of Directors of the Company or its delegate (the “Administrator”). Subject to the provisions of the Agreement, the Administrator shall have full and final authority in its discretion to take any action with respect to the Agreement including, without limitation, the authority to (i) determine all matters relating to the payments; (ii) establish, amend and rescind rules and regulations for the administration of the Agreement; and (iii) construe and interpret the Agreement, to interpret rules and regulations for administering the Agreement and to make all other determinations deemed necessary or advisable for administering the Agreement. Except to the extent otherwise required under Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), the Administrator shall have the authority, in its sole discretion, to accelerate the date that any Consultation Payments or Separation Payments which were not otherwise vested or earned shall become vested or earned in whole or in part without any obligation to accelerate such date with respect to any other employee. The Administrator also may in its sole discretion determine that Executive’s rights or payments under the Agreement shall be subject to reduction, cancellation, forfeiture or recoupment due to conduct by Executive that is determined by the Administrator to be detrimental to the business or reputation of the Company, including, without limitation, upon termination of employment for cause; violation of policies of the Company; or breach of non-solicitation, noncompetition, confidentiality or other restrictive covenants that apply to the Executive. In addition to action by meeting in accordance with applicable laws, any action of the Administrator with respect to the Agreement may be taken by a written instrument signed by the Administrator (including, where the Board or a committee serves as the Administrator, by written consent signed by all of the members of the Board, or all of the members of a committee, and any such action so taken by written consent shall be as fully effective as if it had been taken by a majority of the members at a meeting duly held and called). No individual shall be liable while acting as Administrator for any action or determination made in good faith with respect to the Agreement, and any such individual shall be entitled to indemnification and reimbursement in the manner provided in the Company’s certificate of incorporation and bylaws and/or under applicable law.

  • Administration of the Trust Fund Section 4.01

  • Program Administration An activity relating to the general management, oversight and coordination of community development programs. Costs directly related to carrying out eligible activities are not included.

  • Administration of Medication Employees required to administer or apply medication(s) prescribed by a qualified medical practitioner, will be trained at the Employer's expense. Employees who have not received this training will not be permitted to administer such substances.

  • Administration of Plan The Plan is administered by a Committee appointed by the Company's Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding options, and to require of any person exercising this option, at the time of such exercise, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any State, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall in its discretion, deem necessary by reason of the Internal Revenue Code or any rule or regulation thereunder, or by reason of the tax laws of any State.

Time is Money Join Law Insider Premium to draft better contracts faster.