Residual Policies definition

Residual Policies means any policy of the Transferor comprised in the Data under which any liability remains unsatisfied or outstanding at the Effective Date:

Residual Policies means Policies comprised in the Phoenix Policies under which any liability remains unsatisfied or outstanding at the Transfer Date:

Residual Policies means any Transferring Policies which do not transfer from the Transferor to the Transferee on the Scheme Effective Date;

Examples of Residual Policies in a sentence

• On and with effect from the Subsequent Transfer Date, all actual and potential Proceedings by or against the Transferor in connection with the relevant Residual Assets, the relevant Residual Liabilities and / or the relevant Residual Policies shall be continued by or against the Transferee.

• Such policies shall cease to be Residual Policies under the UK Scheme, and shall cease to be so reinsured to the Transferee, on the relevant Subsequent Transfer Date.

• The indemnities given by the Transferee under paragraphs 10.1 and 10.2 are given on the basis that the Transferor will use reasonable endeavours to mitigate its charges, costs and claims for which indemnification may be sought under paragraphs 10.1 and 10.2 and the Transferee's obligations under paragraphs 10.1 and 10.2 shall not apply in respect of any liability, charge, cost or claim covered by the Residual Policies Reassurance Arrangement.

• The parties may agree in writing to amend the terms of the Residual Policies Reassurance Arrangement, in which event the provisions of this paragraph 8 shall be deemed to be amended accordingly, provided always that such amendments shall not prejudice the interests of any policyholder of a Residual Policy.

• The consent of the Court or the Insurance Regulators shall not be required in relation to the amendment or termination of the Residual Policies Reassurance Arrangement provided that such amendment or termination shall be in accordance with the provisions of paragraph 8.

More Definitions of Residual Policies

Residual Policies means Policies listed in the Data under which any liability remains unsatisfied or outstanding at the Effective Date:

Residual Policies means any Transferring Policies comprised in the Transferring Business (other than Excluded Policies) in respect of which:

Residual Policies means the policies relating to the Residual Contracts;

Residual Policies means those Transferring Policies which do not transfer to the Transferee pursuant to the Order as at the Effective Date for any reason whatsoever and which are not otherwise transferred, including a Transferring Policy in respect of which:

Residual Policies means (i) any North and West Europe Insurance Policies which correspond to any facilities agreements, indemnity agreements or collateral agreements which constitute Residual Transferring Contracts which do not transfer from the Transferor to the Transferee on the Scheme Effective Date or (ii) any Specified Reinsurance Contracts which do not transfer from the Transferor to the Transferee on the Scheme Effective Date;

Residual Policies means Policies under which any Liability remains unsatisfied oroutstanding at the Effective Date:

Residual Policies means any Insurance Policy comprised in or relating to the Transferring Business in respect of which the Insurance Policy is or, on or prior to the Effective Date, becomes incapable of lawful transfer owing to the operation of provisions of the International Sanctions Regulations 2013, the Anti-Terrorism (Financial and Other Xxxxxxxx) Xxx 0000, the Proceeds of Crime Act 1997 or provisions of other statutes (whether of Bermuda or another jurisdiction); Scheme of Transfer means this Scheme of Transfer in its original form or with, or subject to, any modification or addition thereto;