Common use of Policies and Rights Included Within Assets Assignment of Policies Clause in Contracts

Policies and Rights Included Within Assets Assignment of Policies. (a) POLICY RIGHTS. The ST Assets shall include (i) any and all rights of an insured party under each of the Shared Policies, subject to the terms of such Shared Policies and any limitations or obligations of ST contemplated by this Article VII, specifically including rights of indemnity and the right to be defended by or at the expense of the insurer, with respect to all claims, suits, actions, proceedings, injuries, losses, liabilities, damages and expenses incurred or claimed to have been incurred prior to the Distribution Date by any party in or in connection with the conduct of the ST Business or, to the extent any claim is made against ST or any of its Subsidiaries, the conduct of the IMS Business, and which claims, suits, actions, proceedings, injuries, losses, liabilities, damages and expenses may arise out of an insured or insurable occurrence under one or more of such Shared Policies.