SHIP Trust definition
Examples of SHIP Trust in a sentence
The Parties shall cooperate with each other in complying with regulatory requirements and responding to regulatory inquiries associated with the SHIP Health Insurance Policies, the SHIP Assignment Agreement, the SHIP Trust Agreement or this Agreement.
The duty of cooperation provided for in this Section 5.1 shall extend to any and all litigation matters regarding the Reinsured Liabilities, the SHIP Health Insurance Policies, the SHIP Assignment Agreement or the SHIP Trust Agreement, including litigation involving third parties.
Without the written consent of Reinsurer, neither the SHIP Assignment Agreement nor the SHIP Trust Agreement may be altered, amended or modified by Ceding Company in a manner that would have a material adverse effect on Reinsurer’s rights, obligations and economic expectations under this Agreement.
Notwithstanding the foregoing, it is understood that payments to be made to Reinsurer hereunder shall be funded by corresponding withdrawals and releases of funds maintained in the SHIP Trust and Ceding Company shall not be required to advance any funds independently from its own account in respect of payment to be made to Reinsurer hereunder.