PREAMBLE/SCOPE Sample Clauses
The PREAMBLE/SCOPE clause defines the overall purpose and boundaries of the agreement, setting out what the contract covers and the context in which it operates. It typically outlines the parties involved, the subject matter, and any key definitions or limitations relevant to the agreement. By clearly establishing the framework and intent of the contract, this clause helps prevent misunderstandings about the agreement’s reach and ensures all parties are aware of their roles and obligations from the outset.
PREAMBLE/SCOPE. 1.01 The Company agrees to cede and the Reinsurer agrees to accept reinsurance of Policies as set forth in Schedule A, “Policy Forms Reinsured”, and in accordance with the terms of this Agreement. The term Policy/Policies and other terms used in this Agreement are defined in Article 25, “Definitions.” Occasionally, certain terms may be defined in the body of the Agreement as necessary to promote readability. In all cases, defined terms will be capitalized throughout this Agreement. This excludes article headings and subsections.
1.02 Policies are reinsured in accordance with the terms contained herein. The intent of this Agreement is to pass a Quota Share percentage of the underlying risks assumed on the Policies, including the investment risk, to the Reinsurer without necessitating the Company to transfer the underlying assets supporting the Policies, or their cash equivalents, to the Reinsurer.
1.03 The parties anticipate and acknowledge that the Reinsurer will cede a portion of the Policies reinsured under this Agreement in excess of the Reinsurer’s Retention to one or more retrocessionaires.
1.04 The Company agrees to:
a. Cede a Policy to the Reinsurer as Automatic Reinsurance in accordance with Article 3, “Automatic Reinsurance;” or
b. Submit a Policy to the Reinsurer or its facultative underwriting Designee to facilitate Facultative Reinsurance consideration in accordance with Article 4, “Facultative Reinsurance;” or
c. Cede a Policy as a Continuation to the Reinsurer, in accordance with Article 12, “Policy Changes, Continuations, Reductions and Increases.”
1.05 The Reinsurer may designate one or more Designees to perform certain functions under this Agreement. The Designee will be one or more of the Reinsurer’s retrocessionaires. Retrocessionaires refer to any of the reinsurers with which the Reinsurer has entered into a third-party reinsurance arrangement for the purpose of ceding mortality risk. A retrocessionaire may be appointed as a Designee on the Reinsurer’s behalf in order for the Reinsurer to satisfy certain rights and obligations pursuant to the terms and conditions of this Agreement. Such functions generally include, but are not limited to:
a. Performing facultative underwriting reviews and extending facultative offers to the Company;
b. Performing claims reviews of the Company; or
c. Performing underwriting and administrative audits The Reinsurer shall be and remain responsible under this Agreement in respect of all duties and obligation...
PREAMBLE/SCOPE. This Quality Assurance Agreement (QAA) contains the binding definition of the technical and organisational framework conditions between the Buyer and the Supplier, which are necessary to achieve the desired zero-defect target. This QAA describes the minimum requirements for the quality management system and concerns suppliers of the Buyer's supply chain relevant to the construction industry, general engineering, or accessories ("after-market” parts). These include, among others, pre-material suppliers, suppliers of purchased parts, as well as providers for machining and surface treatment for components of the buyer. The QAA refers to suppliers and subcontractors who regularly supply the production process of the Buyer under series conditions with products, processes, or services and who cannot be assigned to any other specific QAA document of the Buyer (see supplier portal of the Buyer under www.▇▇▇▇- ▇▇▇▇▇.▇▇▇). The acceptance of this QAA by the Supplier is the prerequisite for a business relationship with the Buyer.