Reinsurance Policies Sample Clauses

Reinsurance Policies. 25 3C.12 Litigation.....................................................26 3C.13
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Reinsurance Policies. Set forth on Schedule 5.18 of the Sellers' Disclosure Schedule is a complete and accurate list of all in-force reinsurance contracts and treaties under which each Company has ceded or assumed reinsurance obligations. Each contract and treaty set forth on such Schedule 5.18 (or required to be set forth on such Schedule 5.18) is in full force and effect and except as set forth in Schedule 5.18 of the Sellers' Disclosure Schedule will not be terminated or otherwise adversely affected as a result of the transactions contemplated hereby. Except as set forth on Schedule 5.18 of the Sellers' Disclosure Schedule, such contract or treaty under which each Company cedes reinsurance obligations is qualified under all Laws applicable to reinsurance policies and treaties to receive the statutory credit assigned to such contract or treaty in the Statutory Statements at the time such Statutory Statements were prepared. No Company has violated any of the terms and conditions of any such policies or treaties in any material respect and, to the knowledge of each Seller, all of the covenants to be performed by any other party under any such policy and treaties were negotiated with independent third parties in good faith at arm's length, other than any such policies or treaties among any Company and its Affiliates as listed on Schedule 5.18 of the Sellers' Disclosure Schedule. Schedule 5.18 of the Sellers' Disclosure Schedule separately sets forth all contracts or treaties of reinsurance no longer in force to which PNIC was a party, under which, to the knowledge of each Seller (including without limitation the officers of Sellers in their capacity as such), benefits or liabilities remain outstanding, except for contracts or treaties which would not have a Material Adverse Effect. Schedule 5.18 of the Sellers' Disclosure Schedule also sets forth all disputes between any Seller and PNIC and any third party regarding any contracts or treaties of reinsurance.
Reinsurance Policies. Set forth in Schedule 3.13 is a complete and accurate list of all in-force reinsurance contracts and treaties under which any of the Companies has ceded or assumed reinsurance obligations. Each contract and treaty set forth on Schedule 3.13 (or required to be set forth on Schedule 3.13) is in full force and effect and will not be terminated or otherwise adversely affected as a result of the transactions contemplated hereby. Except as set forth on Schedule 3.13, such contract or treaty under which any of the Companies cedes reinsurance obligations is qualified under all Laws applicable to reinsurance policies and treaties to receive the statutory credit assigned to such contract or treaty in the Statutory Statements at the time such Statutory Statements were prepared. None of the Companies has violated any of the terms and conditions of any such policies and treaties and, to the Knowledge of Figgie, Services, Holdings and the Companies, all of the covenants to be performed by any other party under any such policy and treaties were negotiated with independent third parties in good faith at arm's length, other than any such policies or treaties among the Companies and their Affiliates as listed on Schedule 3.13. Schedule 3.13 separately sets forth all contracts or treaties of reinsurance no longer in force to which any of the Companies was a party, under which, to the Knowledge of Figgie, Holdings, Services or the Companies, benefits or liabilities remain outstanding, except for contracts or treaties which would not have a Material Adverse Effect.
Reinsurance Policies. Set forth in Schedule 3.14 of the Disclosure Schedule of Seller is a complete and accurate list of all reinsurance contracts and treaties under which the Company has ceded or assumed reinsurance obligations and the cost and terms and the expiration date of each such contract or treaty. Such Schedule 3.14 specifies whether any such contract or treaty has been commuted or has lapsed. Each contract and treaty set forth on such Schedule 3.14 (or required to be set forth on such Schedule 3.14) will not be terminated or otherwise adversely affected as a result of the transactions contemplated hereby. Except as set forth on such Schedule 3.14, each such contract or treaty is in full force and effect, and any such contract or treaty under which the Company cedes reinsurance obligations is qualified under all Laws applicable to reinsurance policies and treaties to receive the statutory credit assigned to such contract or treaty in the Statutory Statements at the time such Statutory Statements were prepared. During the Ownership Period or, to the best knowledge of Seller, during the Pre-Ownership Period, the Company has not violated any of the terms and conditions of any such policies and treaties and, to the best knowledge of Seller, all of the covenants to be performed by any other party under any such policy and treaties were negotiated with independent third parties in good faith at arm's length, other than any such policies or treaties among the Company and its Affiliates as listed on such Schedule 3.14.
Reinsurance Policies. 27 5.19 Taxes............................................................... 28 5.20 Contracts........................................................... 29 5.21 Employees........................................................... 30 5.22

Related to Reinsurance Policies

  • Insurance Policies Insurance required herein shall be by companies duly licensed or admitted to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Lessor. Lessee shall, at least thirty (30) days prior to the expiration of such policies, furnish Lessor with evidence of renewals or "insurance binders" evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.

  • R&W Insurance Policy The Buyer has obtained the R&W Insurance Policy and shall pay when due all fees, premiums, and other costs and expenses in connection with the purchase and implementation of the R&W Insurance Policy. The Company and the Seller shall cooperate with the Buyer in connection with the arrangement and origination of the R&W Insurance Policy, including by facilitating the Buyer’s acquisition of a copy of the materials included in the electronic data room established by the Seller and the Company in connection with the transactions contemplated hereby. Buyer shall cause coverage under the R&W Insurance Policy to incept effective as of the signing date of this Agreement and, thereafter, to be issued promptly following the Closing in accordance with the terms of the binder thereof. Buyer shall cause the R&W Insurance Policy to remain in full force and effect, including by: (a) complying with the terms and conditions of the R&W Insurance Policy and (b) satisfying on a timely basis, all conditions necessary for the issuance of or continuance of coverage under the R&W Insurance Policy. During the term of the R&W Insurance Policy, Buyer shall cause the R&W Insurance Policy to explicitly provide for an irrevocable waiver by the insurer(s) that issued the R&W Insurance Policy of any and all rights of subrogation or contribution which such insurer(s) might have under the R&W Insurance Policy against Seller or any of their respective officers, managers, directors, employees or agents under this Agreement, except in the case of Fraud. From and after the signing date of this Agreement, except as may be agreed in writing by Seller, Buyer shall not amend the R&W Insurance Policy in any manner that expands the rights of subrogation or contribution which the insurer(s) that issued the R&W Insurance Policy have under the R&W Insurance Policy to any claims of Buyer against Seller, or any of their respective officers, managers, directors, employees or agents under this Agreement, which, for the avoidance of doubt, such anti-subrogation provisions shall not apply in the case of Fraud.

  • Other Insurance Policies No action, inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance.

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • Reinsurance The Contractor shall purchase reinsurance from a commercial reinsurer and shall establish reinsurance agreements meeting the requirements listed below. The Contractor shall submit new policies, renewals or amendments to OMPP for review and approval at least one hundred and twenty (120) calendar days before becoming effective.  Agreements and Coverage  The attachment point shall be equal to or less than $200,000 and shall apply to all services, unless otherwise approved by OMPP. The Contractor electing to establish commercial reinsurance agreements with an attachment point greater than $200,000 must provide a justification in its proposal or submit justification to OMPP in writing at least one hundred and twenty (120) calendar days prior to the policy renewal date or date of the proposed change. The Contractor must receive approval from OMPP before changing the attachment point.  The Contractor’s co-insurance responsibilities above the attachment point shall be no greater than twenty percent (20%).  Reinsurance agreements shall transfer risk from the Contractor to the reinsurer.  The reinsurer's payment to the Contractor shall depend on and vary directly with the amount and timing of claims settled under the reinsured contract. Contractual features that delay timely reimbursement are not acceptable.  The Contractor shall maintain a plan acceptable to the IDOI commissioner for continuation of benefits in the event of receivership. The Contractor must finance the greater of $1,000,000 or total projected costs as calculated by the form set forth in 760 IAC 1-70-8.  The Contractor shall obtain continuation of coverage insurance (insolvency insurance) to continue plan benefits for members until the end of the period for which premiums have been paid. This coverage shall extend to members in acute care hospitals or nursing facility settings when the Contractor’s insolvency occurs during the member’s inpatient stay. The Contractor shall continue to reimburse for its member’s care under those circumstances (i.e., inpatient stays) until the member is discharged from the acute care setting or nursing facility.  Requirements for Reinsurance Companies  The Contractor shall submit documentation that the reinsurer follows the National Association of Insurance Commissioners' (NAIC) Reinsurance Accounting Standards.  The Contractor shall be required to obtain reinsurance from insurance organizations that have Standard and Poor's claims- paying ability ratings of "AA" or higher and a Xxxxx’x bond rating of “A1” or higher, unless otherwise approved by OMPP.  Subcontractors  Subcontractors’ reinsurance coverage requirements must be clearly defined in the reinsurance agreement.  Subcontractors should be encouraged to obtain their own stop-loss coverage with the above-mentioned terms.  If subcontractors do not obtain reinsurance on their own, the Contractor is required to forward appropriate recoveries from stop- loss coverage to applicable subcontractors.

  • Title Insurance Policies The Borrower will deliver to the Administrative Agent a policy of title insurance (or marked-up title insurance commitment or title proforma having the effect of a policy of title insurance) (a “Title Policy”) insuring the Lien of such Mortgage as a valid first mortgage or deed of trust Lien on the Mortgaged Property described therein in an amount not less than the estimated fair market value of such Mortgaged Property as reasonably determined by the Borrower, which Title Policy shall (A) be issued by a nationally-recognized title insurance company reasonably acceptable to the Administrative Agent (the “Title Company”), (B) include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Administrative Agent, (C) be supplemented by a “tie-in” or “aggregation” endorsement, if available under applicable law, and such other endorsements as may reasonably be requested by the Administrative Agent (including (to the extent available in the applicable jurisdiction and/or with respect to the Mortgaged Property, in each case, on commercially reasonable terms) endorsements on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business, public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, and so-called comprehensive coverage over covenants and restrictions) if available under applicable law at commercially reasonable rates and (D) contain no other exceptions to title other than Permitted Liens and other exceptions acceptable to the Administrative Agent in its reasonable discretion;

  • Reinsurance Agreements In consideration of the premium stated herein, the Underwriter does hereby agree with the Named Insured to reinsure the Named Insured's insurance policies which provide coverage to the Assured, to the extent hereinafter set forth:

  • Insurance Plans The Executive is eligible to participate in the life, health, dental, short and long-term disability plans made available to the employees of the Company pursuant to the terms and conditions of such plans.

  • Title Insurance Policy In all cases, the Seller undertakes to remove any encumbrance that will materially interfere with the procurement of a title insurance policy or financing necessary for the purchase of the Property, whether the same is included in the above enumeration or not. Further, the Seller undertakes to, in good faith, cooperate with and assist the Buyer fully in obtaining a title insurance policy. The Seller shall be obligated to take all legal and reasonably necessary action in order to procure such title insurance policy but shall not incur any additional liability in relation thereto. If the title to the Property is not in a condition that is compliant with the above, if the Seller fails or refuses to comply with the Seller’s obligations under this section, or if the Parties are unable to obtain a title insurance policy, the Buyer may, in the Buyer’s sole discretion, accept the title as it is and proceed with the purchase under this Agreement, or terminate this Agreement and recover the Xxxxxxx Money, costs incurred in relation to this Agreement and .

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

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