Reinsured Extra Contractual Obligations definition

Reinsured Extra Contractual Obligations means those Extra Contractual Obligations (a) that arise from or are related to the handling of any Claim with respect to the Subject Business by the Reinsurer or its Affiliates from and after the Closing Date, (b) with respect to which Aspen has consulted with the Reinsurer after disclosing all relevant material information to the Reinsurer and prior to Aspen taking the course of conduct that gives rise to such Extra Contractual Obligations and with respect to which the Reinsurer has consented in writing to the course of conduct taken by Xxxxx, or Aspen has followed the express written direction of the Reinsurer, in each case, giving rise to such Extra Contractual Obligations or (c) any other Extra Contractual Obligation resulting from actions taken by the Reinsurer or its Affiliates.
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Reinsured Extra Contractual Obligations means Extra Contractual Obligations that arise out of any act, error, or omission in the administration of the Subject Business after the Closing Date (a) by the Retrocessionaire or its Affiliates or (b) by the Retrocedent or its Affiliates (i) taken (or not taken, as applicable) at the written direction or recommendation of the Retrocessionaire or its Affiliates or (ii) required to be taken (or not taken, as applicable) by the Retrocedent or its Affiliates pursuant to the terms of Section 4.1.
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Reinsured Extra Contractual Obligations has the meaning set forth in the LPT Agreements.
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More Definitions of Reinsured Extra Contractual Obligations

Reinsured Extra Contractual Obligations means those liabilities arising from the handling of any claim on business covered hereunder because of, but not limited to, failure to settle within the Policy limit, or by reason of alleged or actual negligence, fraud or bad faith rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparations or prosecution of an appeal consequent upon such action, whether the handling of a claim is provided by Reinsured or Reinsurer, excluding Administrator Extra-Contractual Obligations.
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Reinsured Extra Contractual Obligations means those Extra Contractual Obligations (a) that arise from or are related to the handling of any Claim with respect to the Subject Business by the Reinsurer or its Affiliates from and after the Closing Date, (b) with respect to which Aspen has consulted with the Reinsurer after disclosing all relevant material information to the Reinsurer and prior to Aspen taking the course of conduct that gives rise to
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Related to Reinsured Extra Contractual Obligations

  • Extra Contractual Obligations shall be defined as those liabilities not covered under any other provision of this Contract and that arise from the handling of any claim on business covered hereunder, such liabilities arising because of, but not limited to, the following: failure by the Company to settle within the Policy limit, or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action.

  • Contractual Obligation means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.

  • Standard Contractual Clauses means the clauses attached hereto as Exhibit 1 pursuant to the European Commission’s decision (C(2010)593) of 5 February 2010 on Standard Contractual Clauses for the transfer of personal data to processors established in third countries which do not ensure an adequate level of data protection.

  • EU Standard Contractual Clauses means the standard contractual clauses approved by the European Commission in Commission Implementing Decision (EU) 2021/914 of 4 June 2021 on standard contractual clauses for the transfer of personal data to third countries pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council, as applicable (referencing Module 2: Transfer Controller to Processor) and as may be amended or replaced by the European Commission from time-to-time;

  • Covered contract means a DoD prime contract for an amount exceeding the simplified acquisition threshold, except for a fixed-price contract without cost incentives. The term also includes a subcontract for an amount exceeding the simplified acquisition threshold, except for a fixed-price subcontract without cost incentives under such a prime contract.

  • Pre-Contractual Statement means a draft agreement, undertaking, representation, warranty, promise, assurance or arrangement of any nature whatsoever, whether or not in writing, relating to this Agreement made or given by a Party to this Agreement or any other person at any time prior to the date of this Agreement.

  • Assumed Contract means any Executory Contract or Unexpired Lease assumed by the Reorganized Debtors in accordance with Article V of the Plan.

  • Material Insurance Subsidiary means any Insurance Subsidiary that is a Material Subsidiary.

  • Assumed Contracts has the meaning set forth in Section 2.1(d).