Pending Withdrawal definition
Pending Withdrawal means a withdrawal, partial or complete surrender, or partial or complete exchange from, of, or in respect of a given Administered Contract (by case) that has not been effected as of the Closing Date, but with respect to which Sellers have received, on or prior to the Closing Date, written notice from the relevant Contractholder affirmatively requesting such action and which request has not been rescinded on or prior to the Closing Date. For this purpose, “Pending Withdrawal” shall not include(a) the Bank Withdrawal or (b) notification for an exchange of an Administered Contract (by case) for (i) new BOLI/COLI Policies, GAC Agreements or HNW Policies issued by HLIC or HLAC to the extent such new policies or agreements become included as an Administered Contract or (ii) products of Purchaser or its Affiliates.
Examples of Pending Withdrawal in a sentence
Duties Pending Withdrawal Without prejudice to the provision of Article 18(1) of this treaty, the withdrawing state is remain duty-bound to all obligations stated in this treaty until such a withdrawal is fully effective.