Nose Coverage definition
Examples of Nose Coverage in a sentence
AMP will use commercially reasonable methods to obtain for each Physician professional liability insurance with a benefit date retroactive to the Closing Date ("Nose Coverage").
AMP will use commercially reasonable methods to obtain for each Physician professional liability insurance with a benefit date retroactive prior to the Closing Date ("Nose Coverage").
The Nose Coverage will also contain an endorsement on terms reasonably acceptable to Sellers requiring the insurer(s) providing such Nose Coverage to obtain Seller’s consent to termination or amendment of the Nose Coverage on or before December 31, 2016 (the “Modification Endorsement”).
Buyer, and any of its Affiliates reasonably determined by Buyer, may be listed as additional insureds with respect to the Nose Coverage.
Such Nose Coverage shall be purchased in one or more premium payments (the “Nose Premium”) and shall include coverage deductibles and limits reasonably satisfactory to Buyer and similar to those contained in Seller’s historical professional and general liability insurance policies applicable to the Facilities, taking into account the limits in the Facilities’ historical liability policies covering the Facilities prior to the Closing.
Buyer, and any of its Affiliates reasonably determined by Buyer, will be the named insured or listed as additional insureds with respect to the Nose Coverage.
Buyer shall not cause or permit termination or amendment of the Nose Coverage or any coverage provided thereunder.
Sellers shall pay $327,000 to Buyer out of the Purchase Price delivered on the Closing Date to go toward Buyer’s payment of the premium for the Nose Coverage.
Given that the policies will be owned by the Group Companies’ being acquired by the Buyer in accordance with the terms of this Agreement, Buyer and its Affiliates will take responsibility for the administration of all claims that arise following the Closing Date, regardless of whether such claims relate to events that occurred prior to the Closing Date (in which case the claims will be covered by the Nose Coverage).
Given that the policies will be owned by the Group Companies’ being acquired by the Buyer in accordance with the terms of this Agreement, Buyer and its Affiliates will take responsibility for the administration of all claims that arise following the Closing Date, regardless of whether such claims relate to events that occurred prior to the Effective Time (in which case the claims will be covered by the Nose Coverage).