Common use of Definition of Company Clause in Contracts

Definition of Company. As respects the use of "Company" within this Agreement, it is understood and agreed that Company shall mean the insurance companies owned directly or indirectly by CNA Financial Corporation which are affiliated with, controlled by or under common management of CNA, with the exception of the life insurance companies, CNA Re Management Company Limited, RVI Guarantee Company Limited, and CNA Surety Corporation and their respective subsidiaries. It is further agreed that notice will be given to the Reinsurer within 45 (forty-five) days of the acquisition of a company having in-force business that the Company wishes to have covered by this Agreement. In the event that either party hereto maintains that the inclusion hereunder of some portion of the in-force business of any such new acquisition calls for alteration in the existing terms of this Agreement, and the parties are unable to negotiate terms that are mutually acceptable, then that portion of the newly acquired in-force business not considered mutually acceptable shall be covered for an additional period of forty-five (45) days from the date the dissenting party gives to the other written notice that said portion of the newly acquired in-force business is unacceptable.

Appears in 3 contracts

Samples: Accountants Professional Liability Quota Share (Amerinst Insurance Group Inc), Value Plan Policies Accountants Professional Liability Quota Share (Amerinst Insurance Group LTD), Amerinst Insurance Group LTD

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Definition of Company. As respects the use of "Company" within this Agreement, it is understood and agreed that Company shall mean the insurance companies owned directly or indirectly by CNA Financial Corporation which are affiliated with, controlled by or under common management of CNA, with the exception of the life insurance companies, CNA Re Management Company Limited, RVI Guarantee Company Limited, and CNA Surety Corporation and their respective subsidiaries. It is further agreed that notice will be given to the Reinsurer within 45 (forty-five) days of the acquisition of a company having in-force business that the Company wishes to have covered by this Agreement. In the event that either party hereto maintains that the inclusion hereunder of some portion of the in-in- force business of any such new acquisition calls for alteration in the existing terms of this Agreement, and the parties are unable to negotiate terms that are mutually acceptable, then that portion of the newly acquired in-force business not considered mutually acceptable shall be covered for an additional period of forty-five (45) days from the date the dissenting party gives to the other written notice that said portion of the newly acquired in-force business is unacceptable.

Appears in 2 contracts

Samples: Accountants Professional Liability Quota Share (Amerinst Insurance Group LTD), Amerinst Insurance Group LTD

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Definition of Company. As respects the use of "Company" within this Agreement, it is understood and agreed that Company shall mean the insurance companies owned directly or indirectly by CNA Financial Corporation which are affiliated with, controlled by or under common management of CNA, with the exception of the life insurance companies, CNA Re Management Company Limited, RVI Guarantee Company Limited, and CNA Surety Corporation and their respective subsidiaries. It is further agreed that notice will be given to the Reinsurer within 45 (forty-five) days of the acquisition of a company having in-force business that the Company wishes to have covered by this Agreement. In the event that either party hereto maintains that the inclusion hereunder of some portion of the in-force business of any such new acquisition calls for alteration in the existing terms of this Agreement, and the parties are unable to negotiate terms that are mutually acceptable, then that portion of the newly acquired in-force business not considered mutually acceptable shall be covered for an additional period of forty-five (45) days from the date the dissenting party gives to the other written notice that said portion of the newly acquired in-force business is unacceptable.

Appears in 2 contracts

Samples: Quota Share Treaty (Amerinst Insurance Group LTD), Value Plan Policies (Amerinst Insurance Group LTD)

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