General Assets definition

General Assets shall have the meaning given it in Section 3.6(a) hereof;

General Assets means all property, real, personal or otherwise, not specifically mortgaged, pledged, deposited or otherwise encumbered for the security or benefit of specified persons or a limited class or classes of persons; and as to such specifically encumbered property, the term includes all such property or its proceeds in excess of the amount necessary to discharge the sums secured thereby. Assets held in trust or on deposit for the security or benefit of all policyholders or all policyholders and creditors in the United States of America are deemed general assets.

General Assets shall have the meaning given it in Article III, Section 6(a) of this Declaration of Trust;

Examples of General Assets in a sentence

• The Client shall pay GBS monthly, as billed, out of its General Assets, as indicated in the annual Employer Stop Loss Application (or Employer Stop Loss Supplemental Application) and any additional Schedule attached thereto.

• Separate and distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted for separately in such separate and distinct records from the assets held with respect to all other Series and the General Assets of the Trust not allocated to such Series.

• The liabilities attributable to any Series shall be enforceable against the assets of such Series only, and not against the General Assets, or the assets of any other Series.

• In the event of termination or dissolution of the Authority, all right, title and interest of the Authority in General Assets (as hereinafter defined) shall be conveyed to the jurisdictions that are parties to this Agreement at the time of termination, as tenants-in-common subject to any outstanding liens, mortgages, or other pledges of such General Assets.

• Separate and distinct records shall be maintained for each Series and the assets held with respect to each Series shall be held and accounted for separately from the assets held with respect to all other Series and General Assets of the Trust not allocated to such Series.

More Definitions of General Assets

General Assets means all real, personal, or other property, not specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or classes of persons. As to specifically encumbered property, "general assets" includes all property or its proceeds in excess of the amount necessary to discharge the sum or sums secured by the property or its proceeds. Assets held in trust and on deposit for the security or benefit of all policyholders or all policyholders and creditors, in more than a single state, shall be treated as general assets.

General Assets shall have the meaning assigned to such term in Section 2.06(a) herein.

General Assets means all property, real, personal or

General Assets shall have the meaning set forth in Section 3.4.1 hereof.

General Assets means all property, real, personal, or otherwise, not specifically

General Assets has the meaning set forth in Section 2.8(a)(i).

General Assets means any assets, income, earnings, profits of proceeds thereof, funds, or payments that are not readily identifiable as belonging to any particular Series of the Trust or any corresponding investment portfolio of the Trust.