Assignments to the FSCS Clause Samples

Assignments to the FSCS. 1.3.1 Immediately upon any payment being made by the FSCS pursuant to this Schedule in respect of a Protected Liability, there shall automatically be assigned to the FSCS absolutely, without any further act or document: (a) all rights of the Protected Policyholder in respect of that Protected Liability (including in respect of the debt or claim constituted by or arising out of or relating to that Protected Liability) under or in respect of the policy relating to that Protected Liability and The Australian Scheme or under or in respect of section 562A(4) of the Corporations Act or a Section 562A(4) Order; (b) any rights and claims such Protected Policyholder may have in respect of payments made by him by way of premiums under the policy relating to that Protected Liability; and (c) without prejudice and subject to paragraph 1.2.5(b), any rights and claims such Protected Policyholder may have against any other persons in respect of any event giving rise to that Protected Liability (other than another insurer which has insured the Protected Policyholder in respect of the same event, but without prejudice to the application of this paragraph 1. 3.1 in relation to any Protected Liability to which the event has also given rise) or by reference to or in connection with the policy relating to that Protected Liability; whether, in any such case, those rights or claims arise under or in respect of the policy relating to that Protected Liability, under or in respect of The Australian Scheme, by virtue of any trust or legislation (primary or subordinate) or otherwise howsoever, and whatever the nature of those rights or claims. If, before making a payment pursuant to paragraph 1.1, in any particular case the FSCS in its absolute discretion determines that the terms of the assignment of rights and claims which would otherwise apply under paragraph 1.3.1(c) should be varied in that case, subject to the consent of the Protected Policyholder concerned to the variation, paragraph 1.3.1(c) shall have effect as if those terms of assignment as so varied applied in that case. If any question arises as to the identification of any Protected Liability, or as to whether any payment has been made by the FSCS in respect of that liability, or as to whether that liability is or is not the subject of an assignment to the FSCS under this paragraph 1.3.1, a certificate from the FSCS that it has made a payment in respect of that liability shall be binding and conclusive on all persons fo...
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Assignments to the FSCS. 1.3.1 Immediately upon any payment being made by the FSCS pursuant to this Schedule in respect of a Protected Liability, there shall automatically be assigned to the FSCS absolutely, without any further act or document: (a) all rights of the Protected Policyholder in respect of that Protected Liability (including in respect of the debt or claim constituted by or arising out of or relating to that Protected Liability) under or in respect of the policy relating to that Protected Liability and The English Scheme or under or in respect of Section 562A(4) of the Corporations Act or a Section 562A(4) Order; (b) any rights and claims such Protected Policyholder may have in respect of payments made by him by way of premiums under the policy relating to that Protected Liability; and (c) without prejudice and subject to paragraph 1.2.5(b) any rights and claims such Protected Policyholder may have against any other persons in respect of any event giving rise to that Protected Liability (other than another insurer which has insured the Protected Policyholder in respect of the same event, but without prejudice to the application of this paragraph 1.
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Related to Assignments to the FSCS

  • AMENDMENTS TO THE CONTRACT This Contract shall not be altered, amended, or modified by oral representation made before or after the execution of this Contract. All amendments or changes of any kind must be in writing, executed by all Parties.

  • Amendments to the Loan Agreement As of the date of this Amendment, the Loan Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the bold and double-underlined text (indicated textually in the same manner as the following example: bold and double-underlined text) as set forth on the pages of the Loan Agreement attached as Appendix A hereto.

  • Amendments to the Purchase Agreement (a) Section 1.6 of the Purchase Agreement is hereby amended and restated in its entirety as follows:

  • Transfers or Assignments to a Third Party Financing Agent It is understood and agreed by the parties that a condition precedent to the consummation of the purchase (s) under the Contract may be the obtaining of acceptable third party financing by the Authorized User. The Authorized User shall make the sole determination of the acceptability of any financing proposal. The Authorized User will make all reasonable efforts to obtain such financing, but makes no representation that such financing has been obtained as of the date of Bid receipt. Where financing is used, Authorized User may assign or transfer its rights in Licensed Products (existing or custom) to a third party financing entity or trustee (“Trustee”) as collateral where required by the terms of the financing agreement. Trustee’s sole rights with respect to transferability or use of Licensed Products shall be to exclusively sublicense to Authorized User all of its Licensee’s rights under the terms and conditions of the License Agreement; provided, further, however, in the event of any termination or expiration of such sublicense by reason of payment in full, all of Trustee’s rights in such Licensed Product shall terminate immediately and Authorized User’s prior rights to such Existing Licensed Product shall be revived.

  • Payments to the Owner Allstate Life shall withdraw from the Funding Account and pay to or at the direction of the Owner amounts in accordance with the terms set forth in the Annex hereto. All payments made by Allstate Life to the Owner hereunder shall be paid in cash, in same-day, freely transferable funds on the date of payment to such account as has been specified for such purpose in writing by the Owner to Allstate Life.