Spaulding definition
Examples of Spaulding in a sentence
On April 10, 2003, the New Jersey Supreme Court ruled in another case involving the same non-cumulation provisions as in the Congoleum primary policies (the "Spaulding Case") that the non-cumulation provisions are invalid under ▇▇▇ ▇▇▇▇ey law and that the primary policies provide coverage for the full amount of their annual limits for all successive policies.
Although Congoleum was not a party to this case, the decision in the Spaulding Case was likely binding on Congoleum and its primary insura▇▇▇ ▇▇▇▇▇ny.
Thus, based on the Spaulding Case decision, the primary insurance company became obligat▇▇ ▇▇ ▇▇▇vide the additional $13 million of coverage previously disputed by the excess carriers.
After the Spaulding decision was decided, Congoleum entered into settlement neg▇▇▇▇▇▇▇▇▇ and reached a settlement with the primary insurance company that had previously contended that limits in successive policies were not cumulative for asbestos claims within the "products hazard." Prior to the decision in Spaulding, Congoleum had entered into settlement agreements with asbe▇▇▇▇ ▇▇▇▇mants exceeding the $13 million amount of previously disputed coverage.
Transferee, Erwin, Spaulding, Sentio and Transferor, jointly and severally as between Transferee and New Key Principal and, unconditionally and irrevocably release and forever discharge Indemnitees from all Claims, and jointly and severally agree to indemnify Indemnitees, and hold them harmless from any and all claims, losses, causes of action, costs and expenses of every kind or character in connection with the Claims or the transfer of the Mortgaged Property.
Transferor, Erwin, Spaulding, Sentio and Transferee hereby represent and warrant that they are the current legal and beneficial owners of all Claims, if any, released hereby and have not assigned, pledged or contracted to assign or pledge any such Claim to any other person.
Congoleum has also reached a settlement with Liberty Mutual Insurance Company, the primary insurance company who had, prior to the Spaulding case decision, contended that limits in successive policies ▇▇▇▇ ▇▇▇ cumulative for asbestos, which was approved by the Bankruptcy Court on July 29, 2004.
After the Spaulding decision was decided, Congoleum entered into settlement neg▇▇▇▇▇▇▇▇▇ and reached a settlement with the primary insurance company that had previously contended that limits in successive policies were not cumulative for asbestos claims within the "products hazard." Prior to the decision in the Spaulding Case, Congoleum had entered into settlement agreements with ▇▇▇▇▇▇▇▇ claimants exceeding the $13 million amount of previously disputed coverage.
The excess carriers objected to the reasonableness of these settlements notwithstanding the decision in the Spaulding case and the settlement with the primary insurance company, ▇▇▇▇▇▇▇▇m also believes that the excess carriers will continue to dispute the reasonableness of the settlements, contend that their policies still are not implicated and dispute their coverage for that and other various reasons in ongoing coverage litigation.
Transferee, Transferor, Erwin, Spaulding, Sentio and Lender shall not refuse or reject delivery of any notice given in accordance with this Agreement.