Closing Date Transfers definition
Examples of Closing Date Transfers in a sentence
To the extent not satisfied as of the Closing Date, all conditions set forth in this paragraph 10 shall be deemed to have been waived following the delivery of the Closing Date Transfers; provided, however, the requirements of paragraph 10.a. shall never be waived.
Insurer acknowledges and agrees that, if the Closing Date Transfers occur, then, from and after the Commitment Agreement Date, Insurer bears any and all risks associated with each Transferred Asset.
By written notice to the other party on or before the fifth Business Day following the Closing Date, Company or Insurer may identify as an Ineligible Asset any asset that was transferred to Insurer as part of the Closing Date Transfers, and the parties will work in good faith for seven (7) Business Days following the receipt of such notice to agree on which, if any, assets constituting part of the Closing Date Transfers are Ineligible Assets.
Insurer will deposit the Closing Date Transfers into its general account that supports the Contract.
Contemporaneously with Prudential’s receipt of the Closing Date Transfers, the Company and Prudential will each duly execute the Contract and Prudential will issue and deliver to the Company the Contract (the “Contract Issuance”).
Subject to the Insurers’ receipt of the Closing Date Transfers on the Closing Date, each Insurer agrees to issue, effective as of the Closing Date, the applicable Contract as described in paragraph 2.
The delivery of the Closing Date Transfers (as defined in paragraph 3.a) to the Insurer (the “Closing”) will take place five (5) Business Days following the Commitment Agreement Date if on such date all of the conditions set forth in paragraph 11 have been satisfied or waived (the “Closing Date”).
By written notice to the other party on or before the fifth Business Day following the Closing Date, Council or an Insurer may identify as an Ineligible Asset any asset that was transferred to such Insurer as part of the applicable Closing Date Transfers, and such parties will work in good faith for seven (7) Business Days following the receipt of such notice to agree on which, if any, assets constituting part of the applicable Closing Date Transfers are Ineligible Assets.
On the terms and subject to the conditions set forth in paragraph 9, the consummation of the Closing Date Transfers and the Contract Issuance (collectively, the “Closing”) will take place on *** if on such date all of the conditions set forth in paragraph 9 have been satisfied or waived, or if the Closing does not occur on ***, then such later date that is one business day after the conditions set forth in paragraph 9 have been satisfied or waived (the “Closing Date”).
If any dispute with respect to any such information cannot be resolved on or prior to the Closing Date, Insurer’s determination will control for purposes of the Closing Date Transfers but Independent Fiduciary may direct the Plan Custodian to immediately commence an arbitration dispute with respect to any such information.