Subject Contract definition
Examples of Subject Contract in a sentence
For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Novation Subject Contract; rather such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Assuming Company were the original party thereto in lieu of the Ceding Company in respect of such Novated Contract.
Prior to the first Effective Time as to any Novation Subject Contract that constitutes a NI Modco Accounts Reinsured Contract, the Assuming Company shall establish and maintain one or more non-insulated separate accounts to mirror the Ceding Company’s NI Modco Account for such Novation Subject Contracts, and shall allocate to such separate accounts all assets and liabilities with respect to NI ModCo Accounts Reinsured Contracts that become Novated Contracts in accordance with applicable Law.
For the avoidance of doubt, unless and until a Novation Subject Contract becomes a Novated Contract, the Ceding Company shall retain control over the Non-Guaranteed Elements for such Novation Subject Contract in accordance with the terms of the Coinsurance Agreement.
In addition, with respect to any Leased Vehicle (the "Subject Vehicle") and the Contract related thereto (the "Subject Contract") the Buyer may acquire from TAF-I, the Subject Contract may not be in default at the time of purchase by Buyer and may not be purchased if another Leased Vehicle and Contract within TAF-I's portfolio both satisfies the criteria specified within this Exhibit A and was entered into as of a date prior to the date of such Subject Contract.
In addition, PGET shall pay to DTE the sum of Five Hundred Sixty Six Thousand Four Hundred Dollars ($566,400) representing payments due and owing under the Subject Contract for services rendered through the date of this Agreement (the “Ordinary Course Payments”).
As of the date of this Agreement, neither the Company nor any of its Subsidiaries has received any written notice regarding any actual or possible material violation or breach of or material default under, or intention to cancel or materially modify to the detriment of the Company or any of its Subsidiaries, any Subject Contract, except in each case as would not, individually or in the aggregate, have a Company Material Adverse Effect.
To the Seller's Knowledge, no other party to any Subject Contract is in default thereunder.
Manager will promptly notify Owner of any material violation of any such Subject Contract.
PG&E Corporation, a California corporation (the “Assignor”), entered into a Guarantee dated as of May 24, 2000 (the “Guarantee”) in favor of DTE pursuant to which, among other things, the Assignor unconditionally guaranteed to DTE the prompt payment when due of all amounts payable under the Subject Contract.
Since December 31, 2019, the Company has not breached or violated, and has been in compliance in all material respects with, any applicable Law, certification or requirement pertaining to or contained in any Subject Contract with any Governmental Authority, except for such breaches, violations or failures that would not, individually or in the aggregate, have a Company Material Adverse Effect.