Covered Business Sample Clauses

Covered Business. The term “Covered Business” shall mean (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

Covered Business. (a) Subject to Section 1.1(b), for purposes of this Agreement, “Covered Business” means (i) the Business and (ii) Buyer’s business in West Africa, which consists of four vessels as operated by Buyer immediately prior to the Closing Date; but the Covered Business excludes any Unavailable Assets. “West Africa” means the following countries which are located in the western part of Africa: Nigeria, Angola, Ghana, the Ivory Coast, Congo, Gabon, Equatorial Guinea, Cameroon, Benin, Togo, and Sao Tome & Principe.

Covered Business. (a) From and after the Effective Time, each Company hereby cedes, and the Reinsurer hereby assumes, one hundred percent (100%) of all Losses for which such Company is liable in respect of the Policies that are issued pursuant to the PL MGA Agreement. (b) In the event the Reinsurer makes an indemnity payment on behalf of a Company directly to any Policyholder, insured or third party pursuant to any Policy that pays, in full, a Loss, cost or expense under such Policy, such payment satisfies and extinguishes any and all obligation of the Reinsurer hereunder to indemnify a Company for such Loss, cost or expense to the extent of such payment. In no event shall the Reinsurer be obligated hereunder to indemnify with respect to any Loss, cost or expense under a Policy for an amount in excess of such Loss, cost or expense.

Covered Business. 2.1. Covered Business shall mean all of the Ceding Company’s gross liability on financial guaranty insurance business written by the Ceding Company as defined in Section 6901 of the New York Insurance Law. The Ceding Company’s Net Retained Liability is the remaining portion of the Ceding Company’s gross liability on each policy reinsured hereunder after deducting all cessions to facultative and/or other reinsurance cessions and/or other third party risk assumptions which inure to the benefit of the Ceding Company. The term “policy” or “policies” shall mean the Ceding Company’s policies and endorsements providing coverage of financial guaranty exposures.

Covered Business. All insurance or reinsurance agreements, policies, binders and other contracts reinsuring or providing financial guaranty insurance, reinsuring, insuring or issuing credit default swaps, insuring or reinsuring trade credit business, or reinsuring or providing other substantially similar credit related business issued by the Cedent prior to or during the Term (the “Covered Business”).

Covered Business. This agreement relates to Covered Business which means the sale of life insurance or administrative or consulting services made by Principal where a corporation is either the owner of life insurance policies or, directly or indirectly, the payor of the majority of the premium or administrative or consulting fees and the purpose or result of the sale is to fund, finance, study or administer an executive or employee benefit plan. Covered Business does not include group term life insurance or sales to qualified plans.

Covered Business. 2.1 Covered Business shall mean all of the Ceding Company's net retention on business written by the Ceding Company. Such net retention: (a) is net of cessions by the Ceding Company to other reinsurers (the "third party reinsurers"); (b) includes all liabilities assumed by the Ceding Company; (c) includes the Ceding Company's interest in any contingent commissions due or which become due to the Ceding Company from third-party reinsurers.

Covered Business. 2.1 Covered Business shall mean all of the Ceding Company's net retention on its financial guaranty insurance business, whether written on a direct basis or assumed from other insurers, and shall include the Ceding Company's interest in any contingent commissions due or which become due to the Ceding Company from other reinsurers ("third party reinsurers"). In determining said net retention, amounts paid or payable to the Ceding Company by its third party reinsurers shall be excluded, except where such payable amounts are more than ten (IO) days overdue. Any recovery of such overdue amounts from a third party reinsurer which occurs subsequent to payment by the Reinsurer hereunder shall be credited pursuant to Article 9.

Covered Business. Except as expressly excluded herein, the Policies subject to this Agreement and known as Covered Business shall be limited to Accident and Health Policies for Employer Group LTD Plans.

Covered Business. 2.1. Covered Business shall mean all of the Ceding Company’s gross liability on financial guarantee business written by the Ceding Company as defined in Section 6901 of the New York Insurance Law. The Ceding Company’s net retention is the remaining portion of the Ceding Company’s gross liability on each policy reinsured hereunder after deducting all cessions to facultative and/or other reinsurances and/or risk assumptions which inure to the benefit of Ceding Company. The term “policy” or “policies” shall mean the Ceding Company’s policies and endorsements providing coverage of financial guarantee exposures.