Novated Policies Sample Clauses

Novated Policies. In the event that a Reinsured Policy defined herein as a Novated Policy is determined by applicable regulatory authorities or by judicial decision (in either case, following the exhaustion of all rights of appeal) not to have been novated, such Reinsured Policy shall, for all purposes of this Assumption Agreement, be deemed never to have been a Novated Policy. Notwithstanding the foregoing, the fact that a Reinsured Policy has not been or cannot be assumed and novated by the Reinsurer pursuant to the terms and conditions of this Assumption Agreement, for whatever reason, shall in no event cause it not to be a Reinsured Policy under the Coinsurance Agreement.
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Novated Policies. This Agreement shall cease to apply to any Reinsured Policy on the date that such Reissued Policy becomes assumed by the Reinsurer by novation pursuant to the Assumption Reinsurance Agreement.
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Novated Policies. Zenith shall be the successor to the Company under the Novated Policies that it assumes as if the Novated Policies were direct obligations originally issued by Zenith. Zenith shall be substituted in the place and stead of the Company so as to effect a novation of the respective Insurance Contracts and release the Company from any and all rights and obligations thereunder. Each insured under a Novated Policy shall disregard the Company as a party thereto and treat Zenith as if it had been originally obligated thereunder except as otherwise provided herein. The insureds shall file claims arising under the Novated Policies on or after the effective date of such novation directly with Zenith. The insureds under the Novated Policies shall also have a right to assert claims related to such Novated Policies directly against Zenith and Zenith hereby consents to be subject to such claims by any insured under the Novated Policy; PROVIDED, HOWEVER, that the rights of any insured under any Insurance Contract shall be limited to and consist of those rights set forth in such Insurance Contract (including any rider or endorsement thereto), and no insured shall have the right to receive any greater amount under any Insurance Contract than such insured would have had in the absence of this Agreement (except that in assessing such right no effect shall be given to any bankruptcy, liquidation, insolvency, reorganization or moratorium of the Company, or the effect of laws or legal procedures affecting enforcement of creditors' rights against the Company generally). Payments made to insureds in discharge of obligations on Novated Policies to provide direct coverage to insureds will diminish any obligation in respect to those Novated Policies which Zenith may have to the estate of the Company if it shall be in receivership, liquidation or rehabilitation proceedings.
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Novated Policies. Policy Name
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Novated Policies. In the event that a Coinsured Policy defined herein as a Novated Policy is determined by applicable regulatory authorities or by judicial decision (in either case, following the exhaustion of all rights of appeal) not to have been novated, such Coinsured Policy shall, for all
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Novated Policies 
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Related to Novated Policies

  • SPAM POLICY You are strictly prohibited from using the Website or any of the Company's Services for illegal spam activities, including gathering email addresses and personal information from others or sending any mass commercial emails.

  • Blanket Policies Notwithstanding anything to the contrary in this Section 6.03, any insurance which Lessee is required to obtain pursuant to this Section 6.03 may be carried under a “blanket” policy or policies covering other properties or liabilities of Lessee provided that such “blanket” policy or policies otherwise comply with the provisions of this Section 6.03.

  • BOARD POLICIES The Borrower shall not modify the terms of any policy or resolutions of its board of directors if such modification could reasonably be expected to have or result in a Material Adverse Effect.

  • R&W Policy (a) Purchaser has conditionally bound a representations and warranties insurance policy (the “R&W Policy”) pursuant to the binder agreement which was provided to Seller for review in advance of the Execution Date and which is attached hereto as Exhibit H (the “R&W Conditional Binder”). From and after the Execution Date, each Party shall use its commercially reasonable efforts to satisfy the conditions set forth in the R&W Conditional Binder as of the Closing Date. The R&W Policy shall contain: (i) a waiver of subrogation, contribution, or otherwise by the insurer in favor of the Seller Indemnified Parties, except against Seller or any “Seller” under the Other PSAs or with respect to such Seller’s or “Seller’s” (as applicable) actual and intentional fraud in the making of the representations and warranties set forth in Article 3 of this Agreement (or the corresponding article setting forth any “Seller’s” representations and warranties in any Other PSA, as applicable), it being understood that the fraud of one Seller or “Seller” (as applicable) shall not be imputed to any other Seller or “Seller” (as applicable); and (ii) a statement that each Seller Indemnified Party is an intended third party beneficiary of the foregoing subrogation limitation. (b) Seller and Purchaser shall each pay fifty percent (50%) of all costs of obtaining the R&W Policy, specifically the premium, surplus lines Taxes and fees, and any related broker compensation and underwriting fees; provided that Seller’s share of such costs shall be paid by Seller via the adjustment of the Cash Purchase Price pursuant to Section 2.3(n). (c) Purchaser agrees that after the Closing it will not agree to any amendment of the R&W Policy that would be expected to cause actual and material prejudice to Seller without Seller’s prior written consent. (d) Notwithstanding anything to the contrary in this Agreement, none of the Seller Indemnified Parties shall be entitled to any proceeds from the R&W Policy. Notwithstanding anything in this Section 5.18 or otherwise to the contrary, nothing herein shall be interpreted to limit Purchaser’s rights to make or pursue claims, or secure recovery under the R&W Policy, as Purchaser believes, in its sole discretion, to be in Purchaser’s interests.

  • Leave Policies Military, sick, annual and personal leaves, shall be governed by any applicable law or by the applicable College policy.