SNFC definition
Examples of SNFC in a sentence
CEI has delivered to SNFC Schedule J, which is entitled "Regulatory Filings" and lists as to SSLIC each and every Statutory Annual Statement filed with or submitted to any state insurance authority and any reports of examinations issued by such state insurance authority since January 1, 1987.
SNFC shall furnish CEI a copy of the application, all other documents filed with or delivered to the Florida Insurance Department, and all correspondence to or from the Florida Insurance Department, and consents and agrees that the Florida Insurance Department may furnish CEI with any documents relating to the application and proceedings thereon that CEI may request.
Neither this Agreement nor any document furnished or to be furnished in connection herewith, as amended or supplemented by CEI by written notice to SNFC given not less than five business days prior to the Closing Date, contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact necessary to make the statements contained therein, or herein, in the light of the circumstances under which they are made, not misleading.
CEI shall promptly provide SNFC with copies of all correspondence to and from all regulatory authorities having jurisdiction with respect to any of the Companies.
Further, SNFC shall cause SSLIC to pay, on the Closing Date, $1,050,000 to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ as a lump-sum settlement of the Executive Compensation Agreement dated as of October 22, 1983, by and between SSLIC and ▇▇.
The directors and officers of SNFC in office at the Effective Time shall continue to act as such and shall hold office until their successors shall have been elected and qualified.
In the event of such termination, CEI shall be entitled to receive the SNFC Deposit Amount and the CEI Deposit Amount shall be refunded to CEI, all in accordance with the provisions of the Escrow Agreement, and neither CEI nor SNFC shall have any further liability to the other.
After the Effective Time of the Merger, SNFC agrees that it shall give those persons who were CEI's officers, directors, attorneys, and accountants immediately prior to the Closing reasonable access to the records of the Companies in connection with any litigation that may arise under this Agreement or any requirements of law or government regulations which may be applicable.
SNFC and CEI agree that such sum is a fair and appropriate determination of the fees and expenses and other damages which SNFC will sustain if CEI breaches its obligations and fails to close hereunder.
SNFC may, at its option, elect to consummate the transactions contemplated by this Agreement by the merger of CEI into an SNFC subsidiary.