Examples of Quota Share Reinsurance Agreement in a sentence
This Agreement (including all exhibits hereto), together with the Stock Purchase Agreement and the LPT and Quota Share Reinsurance Agreement, constitutes the entire agreement regarding the Administrative Services and supersedes all prior agreements and understandings regarding the Administrative Services, whether written or oral, among the parties with respect to the matters contemplated hereby.
At the Closing, Seller shall deliver to Buyer a guaranty substantially in the form attached hereto as Exhibit G (the “Guaranty”), whereby QBE Insurance Group Limited shall guaranty the obligations of Seller, and Seller’s Affiliates as applicable, under this Agreement, the Administrative Services Agreement and the LPT and Quota Share Reinsurance Agreement.
No Indemnifying Party shall make any indemnification payment with respect to any Losses hereunder to the extent that such indemnification payment would result in the duplication or double-counting of any indemnification or reinsurance payment made or payable with respect to such Losses under the Stock Purchase Agreement or the LPT and Quota Share Reinsurance Agreement.
The parties acknowledge and agree that employees of the Delaware County Sheriff’s Office sustaining injuries in the course of and arising out of the scope of their employment should understand their rights, and that efforts should be made to keep the employees actively employed by the Sheriff’s Office even if their work-related injuries prevent them from temporarily performing their former position of employment.
At the Closing, Reinsurer and the Company shall have entered into a Loss Portfolio Transfer and Quota Share Reinsurance Agreement substantially in the form attached hereto as Exhibit B, to be effective at the Closing Effective Time (the “LPT and Quota Share Reinsurance Agreement”), whereby Reinsurer shall reinsure all Policy Liabilities on the terms set forth therein.
Buyer and Seller agree that following the Asset Transfer (if required) and the consummation of the transactions contemplated by the LPT and Quota Share Reinsurance Agreement, the Company shall not have any material assets other than Acceptable Financial Assets, the Insurance Licenses, and the reinsurance recoverables under the LPT and Quota Share Reinsurance Agreement and under the Reinsurance Agreements.
At the Closing, Administrator and the Company shall have entered into an Administrative Services Agreement substantially in the form attached hereto as Exhibit A, to be effective at the Closing Effective Time (the “Administrative Services Agreement”), whereby Administrator shall, among other things, administer all policies reinsured by Reinsurer under the LPT and Quota Share Reinsurance Agreement, in accordance with the terms and conditions set forth therein.
Accordingly, pursuant to the Arbitration Provision in the Quota Share Reinsurance Agreement, Xxxxxxxx hereby demands arbitration against WGIC.
Any debts or credits incurred on and after the Effective Date in favor of or against either Cedent or Reinsurer with respect to this Quota Share Reinsurance Agreement are deemed mutual debts or credits, as the case may be, and shall be set off, and only the balance shall be allowed or paid.
ARTICLE XV ARBITRATION 15.1 Any dispute or other matter in question arising between the parties out of or relating to the interpretation, performance, or breach of this Facultative Quota Share Reinsurance Agreement, whether such dispute arises before or after termination of this Facultative Quota Share Reinsurance Agreement, shall be settled by arbitration under Article 75 of New York Civil Practice Law and Rules.