ARP Manager Clause Samples
The ARP Manager clause designates a specific individual or entity responsible for overseeing and administering the Asset Replacement Program (ARP) within an agreement. This clause typically outlines the manager's duties, such as tracking asset lifecycles, coordinating replacements, and ensuring compliance with program guidelines. By clearly assigning these responsibilities, the clause ensures accountability and smooth operation of the ARP, reducing confusion and potential disputes over asset management.
ARP Manager. 2.1 The ARP shall be managed and administered by the ARP Manager. The Law Society may carry out such of the functions of the ARP Manager as it is permitted to by law, and may appoint one or more third parties to carry out some or all of the functions of the ARP Manager as set out in this Agreement or in the Rules on its behalf. Any third party so appointed may directly enforce any rights granted by or under this Agreement to the ARP Manager in accordance with the Contracts (Rights of Third Parties) Act 1999 for the purpose of giving full effect to such appointment. The consent of any such third party shall not be required in respect of any variation or termination of this Agreement.
2.2 The Insurer agrees that the ARP Manager may issue an ARP Policy incepting during the relevant Indemnity Period to a Firm where:
2.2.1 the Firm has applied to be insured through the ARP; or
2.2.2 the Firm is a Firm in Default; and
2.2.3 (in either case) the Firm is eligible or is to be regarded under the Rules as being eligible to be so insured; or
2.2.4 the Law Society has granted a waiver in accordance with the Rules from the requirement to meet some or all of those criteria.
2.3 The Insurer irrevocably appoints the ARP Manager as its agent to:
2.3.1 set the premium payable by each ARP Firm in accordance with the Rules;
2.3.2 bind the Insurer to the terms of the ARP Policies issued to each ARP Firm in accordance with its Percentage Participation;
2.3.3 calculate and adjust (in accordance with paragraphs 3.9 and 9.4) the Insurer’s Initial Participation, Percentage Participation and Percentage Liability;
2.3.4 issue ARP Policies and related documentation to ARP Firms on behalf of all Qualifying Insurers participating in the ARP, including the Insurer;
2.3.5 if agreed in writing by the Insurer and subject to the terms of any agreement made with HM Revenue and Customs for this purpose, collect and account to HM Revenue and Customs for Insurance Premium Tax;
2.3.6 receive notice of, negotiate, settle and pay claims on behalf of all Qualifying Insurers participating in the ARP, including the Insurer;
2.3.7 recover unpaid premiums and other sums owed by ARP Firms;
2.3.8 recover sums owed by Qualifying Insurers;
2.3.9 provide data to the Law Society relating to ARP Policies and ARP Firms; and
2.3.10 do all things incidental to any of the above and generally to do all such other things as may be necessary or expedient from time to time to facilitate the operation of the ARP.
2.4 Th...
ARP Manager. The ARP shall be managed and administered by the ARP Manager. The Law Society shall act as ARP Manager, provided that it may appoint one or more third parties to carry out some or all of the functions of the ARP Manager as set out in this Agreement or in the Rules on its behalf. Any third party so appointed may directly enforce any rights granted by or under this Agreement to the ARP Manager in accordance with the Contracts (Rights of Third Parties) Act 1999 for the purpose of giving full effect to such appointment. The consent of any such third party shall not be required in respect of any variation or termination of this Agreement.
ARP Manager. 2.1 The ARP shall be managed and administered by the ARP Manager. The Law Society may carry out such of the functions of the ARP Manager as it is permitted to by law, and may appoint one or more third parties to carry out some or all of the functions of the ARP Manager as set out in this Agreement or in the Rules on its behalf. Any third party so appointed may directly enforce any rights granted by or under this Agreement to the ARP Manager in accordance with the Contracts (Rights of Third Parties) ▇▇▇ ▇▇▇▇ for the purpose of giving full effect to such appointment. The consent of any such third party shall not be required in respect of any variation or termination of this Agreement.