Statutory Successor definition

Statutory Successor means any entity, whether constituted under the GLA Legislation or not, which:
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Statutory Successor means any person who under this Act has succeeded or may succeed to a croft whether as a person to whom the tenancy of the croft has been transferred in pursuance of section 16(2) of the 1964 Act or as the executor, heir-at-law, legatee or assignee of his immediate predecessor being a crofter in occupation of the croft;
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Statutory Successor means any entity, whether constituted under the GLA Legislation or not, which succeeds the Issuer in relation to all or substantially all of the statutory functions relating to the development, operation and funding of transport within Greater London;
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Examples of Statutory Successor in a sentence

  • In the event of the insolvency of the Reassured, the amounts due to the Reassured under this Contract shall be payable by the Reinsurers directly to the Reassured or to its Liquidator, Receiver or Statutory Successor.

  • During the pendency of such claim the Reinsurers may investigate such claim and intervene, at their own expense, in the proceedings where such claim is to be adjudicated and interpose any defense or defenses which they may deem available to the Reassured or its Liquidator or Receiver or Statutory Successor.

  • In the event of the insolvency of the Reassured, the Liquidator or Receiver or Statutory Successor of the Reassured shall give written notice to the Reinsurers of the pendency of any claim against the insolvent Reassured on the original policies reinsured hereunder within a reasonable time after such claim is filed in the insolvency proceedings.

  • During the pendency of such claim the Reinsurers may investigate such claim and intervene, at their own expense, in the proceedings where such claim is to be adjudicated and interpose any defense or defenses which they may deem available to the Reassured or its Liquidator or Receiver or Conservator or Statutory Successor.

  • In the event of the insolvency of the Reassured and the appointment of a Liquidator, Receiver, Conservator or Statutory Successor, the Liquidator or Receiver or Conservator or Statutory Successor of the Reassured shall give written notice to the Reinsurers of the pendency of any claim against the insolvent Reassured on the original policies reinsured hereunder within a reasonable time after such claim is filed in the insolvency proceedings.

  • In the event of the insolvency of the Reassured, the Liquidator or Receiver or Statutory Successor of the Reassured shall give written notice to the Reinsurers of the pendency of any claim against the insolvent Reassured on the cessions hereto within a reasonable time after such claim is filed in the insolvency proceedings.

  • During the pendency of such claim the Reinsurers may investigate such claim and intervene, at their own expense, in the proceedings where such a claim is to be adjudicated and interpose any defence or defences which they may deem available to the Reassured or its Liquidator or Receiver or Statutory Successor.

  • In the event of the insolvency of the Reassured, the amounts due to the Reassured under this Agreement shall be payable by the Reinsurers directly to the Reassured or to its Liquidator, Receiver or Statutory Successor.

  • The Trust Deed contains provisions under which a (i) Statutory Successor, (ii) a Subsidiary of the Issuer or (iii) a Subsidiary of a Statutory Successor may, without the consent of the Noteholders or Couponholders, assume the obligations of the Issuer as principal debtor under the Trust Deed and the Notes provided that certain conditions specified in the Trust Deed are fulfilled.

  • In the event of the insolvency of the Reassured, the amounts due to the Reassured under this Contract shall be payable by the Reinsurers directly to the Reassured or to its Liquidator, Receiver or Conservator or Statutory Successor.


More Definitions of Statutory Successor

Statutory Successor is defined in Article XIV -0Insolvency.
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Statutory Successor any successor authority, public body or other authority who shall take over the function of the Council “Step-In Agreement” any agreement to be made between (1) the Council (2) the Developer and (3) an Investor providing inter alia for the Investor to serve written notice on the Council within three months following notice from the Council specifying any Event of Default and giving notice of the Council's intention to terminate this Agreement (or such other period of time as the Investor may reasonably require to be specified) stating that the Investor intends either to step in to the obligations of the Developer or nominate another party (first approved by the Council acting reasonably) to do so complying with the terms of this Agreement and for allowing the Investor or such nominee to step-in to the obligations of the Developer on default by the Developer of any obligations owed by the Developer to the Investor, the terms of such agreement otherwise to be agreed between the parties acting reasonably “Structural Engineer” [[NAME] of [ADDRESS] or such other reputable] structural engineer as the Developer or the Building Contractor appoints as the Structural Engineer for the purposes of the Relevant Works in accordance with Part 1 of Schedule 2 [DN: Please confirm]
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Statutory Successor means and includes any conservator, rehabilitator, liquidator or other statutory representative appointed or otherwise designated to manage or supervise the affairs and operations of Penn Mutual under the Pennsylvania insurance insolvency laws.
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Related to Statutory Successor

  • Business Successor means (i) any former Subsidiary of the Company and (ii) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), or acquired (in one transaction or a series of transactions) all or substantially all of the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Company.

  • Division Successor means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any portion of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division shall be deemed a Division Successor upon the occurrence of such Division.

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Qualified Successor means a person who is entitled to ownership of an Option upon the death of an Optionee, pursuant to a will or the applicable laws of descent and distribution upon death;

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Merger has the meaning set forth in the Recitals.

  • Delaware LLC Division means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act.

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Pre-Adjustment Successor Rate has the meaning specified in Section 3.03(c).

  • Successor Entity means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

  • Successor Issuer means an issuer existing as a result of a reorganization, other than, in the case where the reorganization involved a divestiture of a portion of a participant's business, an issuer that succeeded to or otherwise acquired the portion of the business divested;

  • Successor Person has the meaning specified in Section 802 of this Indenture.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Successor Guarantor has the meaning ascribed to it in Section 4.01 hereof.

  • LIBOR Successor Rate has the meaning specified in Section 3.03(c).

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Consolidation means the consolidation of the accounts of each of the Restricted Subsidiaries with those of the Company in accordance with GAAP; provided that “Consolidation” will not include consolidation of the accounts of any Unrestricted Subsidiary, but the interest of the Company or any Restricted Subsidiary in any Unrestricted Subsidiary will be accounted for as an investment. The term “Consolidated” has a correlative meaning.

  • Sub-Division means a sub-division of a district;

  • successor in business means any company which, as a result of any amalgamation, merger or reconstruction: (a) owns beneficially the whole or substantially the whole of the undertaking, property and assets owned by the Issuer immediately prior thereto; and (b) carries on, as successor to the Issuer, the whole or substantially the whole of the business carried on by the Issuer immediately prior thereto.

  • Surviving Partnership has the meaning set forth in Section 11.2.B(ii) hereof.

  • Amalgamating Corporations means both of them;

  • Successor Institutional Trustee has the meaning set forth in Section 4.3(a).

  • Successors as used in this Agreement shall not include any purchaser, as such purchaser, of any of the [Unsecured Notes] from any of the respective Underwriters.

  • Successor Preferred Guarantee Trustee means a successor Preferred Guarantee Trustee possessing the qualifications to act as Preferred Guarantee Trustee under Section 4.1.

  • Surviving Corporation has the meaning set forth in Section 2.1.