Delinquency Proceedings Sample Clauses

Delinquency Proceedings. A.1 Payment in the Event of Delinquency Proceedings(a) .
Sample 1
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Delinquency Proceedings. If Thrivent Financial is placed into delinquency proceedings or seized by its domiciliary regulator (a “Commissioner”) pursuant to applicable insurance law: i. All of the rights of Thrivent Financial under this Agreement extend to the receiver or Commissioner. ii. All books and records of Thrivent Financial will immediately be made available to the receiver or Commissioner, and shall be turned over to the receiver or Commissioner immediately upon request. iii. Thrivent Investment Mgt. shall have no automatic right to terminate this Agreement.
Sample 1
Delinquency Proceedings. If PPIC is placed in delinquency proceedings or seized by the Commissioner of Insurance (the “Commissioner”) under chapter 645 of the Wisconsin Statutes: (1) All of the rights of PPIC under the Agreement extend to the receiver or Commissioner; (2) All books and records of PPIC will immediately be made available to the receiver or the Commissioner, and shall be turned over to the receiver or Commissioner immediately upon the receiver or the Commissioner’s request; and (3) Quartz will continue to maintain any systems, programs, or other infrastructure notwithstanding such proceeding or seizure, and will make them available to the receiver for so long as Quartz continues to receive timely payment for services.
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Delinquency Proceedings. If a SERVICE RECIPIENT is placed in delinquency proceedings or seized by the commissioner under Chapter 645 of the Wisconsin Statutes, (a) all of the rights of the SERVICE RECIPIENT under the Agreement extend to the receiver or commissioner; and
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Delinquency Proceedings. (a) Payment in the Event of Delinquency Proceedings. Notwithstanding any other provision of this Quota Share Reinsurance Agreement to the contrary, (i) in the event that a delinquency proceeding (as such term is defined in 40 P.S. ss.221.3)(3) is initiated against the Cedent, the Reinsurer shall pay any amounts otherwise due to the Cedent hereunder (including, but not limited to, amounts due under Article II and Section 2.4 hereof) to, or on behalf of, any named insureds under the Reinsured Contracts, a list of which has been provided in electronic format by the Cedent to the Reinsurer (as such list may be updated from time to time), claimants or obligees in accordance with the terms and conditions of the Reinsured Contracts; and (ii) any such payments shall discharge of the Reinsurer's obligations to the Cedent for such payments under this Quota Share Reinsurance Agreement.
Sample 1
Delinquency Proceedings. If Client is placed in supervision, seizure, conservatorship, or receivership under Article 30 of Chapter 58 of the North Carolina General Statutes: (a) All of the rights of Client under this Agreement shall extend to the supervisor, conservator, receiver, or Commissioner to the extent permitted by Article 30 of Chapter 58 of the North Carolina General Statutes. (b) All Records of the Client shall be identifiable and segregated from all other persons’ Records and data or readily capable of segregation at no additional cost to the Client, supervisor, conservator, receiver, or the Commissioner. (c) A complete set of Records and data will immediately be made available to the supervisor, conservator, receiver, or Commissioner, shall be made available in a usable format, and shall be turned over to the supervisor, conservator, receiver, or Commissioner immediately upon their request with all such costs of transferring such records being fair and reasonable. (d) Manager shall make available all Representatives essential to the services and functions provided for under this Agreement for the immediate continued performance of the essential services under this Agreement ordered or directed by the supervisor, conservator, receiver, or Commissioner. Manager shall continue to provide such services and functions for a minimum of 90 days after termination or non-renewal of this Agreement if Client is placed in supervision, seizure, conservatorship, or receivership pursuant to Article 30 of Chapter 58 of the North Carolina General Statutes as ordered or directed by the supervisor, conservator, receiver, or the Commissioner. Performance of the essential services and functions shall continue without regard to pre-supervision, pre-seizure, pre-conservatorship, or pre-receivership unpaid fees, so long as Manager continues to receive timely payment for any fees incurred after Client is placed in supervision, seizure, conservatorship or receivership unless released by the supervisor, conservator, receiver, Commissioner, or supervising court. (e) Manager has no automatic right to terminate or non-renew this Agreement if Client is placed into supervision, seizure, conservatorship, or receivership pursuant to Article 30 of Chapter 58 of the North Carolina General Statutes. (f) Manager will continue to maintain any systems, programs, or other infrastructure used in performing the services and functions under this Agreement notwithstanding supervision, seizure, conservatorship, or...
Sample 1
Delinquency Proceedings. In the event that Xxxxxxxx is placed in delinquency proceedings or seized by the Commissioner of Insurance of the State of Wisconsin (the “Commissioner”) under Wis. Stat. ch. 645: (A) All of the rights of Southern under this Agreement shall extend to the receiver or Commissioner. (B) All books and records developed or maintained by Southern or UFL under or related to this Agreement shall be immediately made available to the receiver or the Commissioner, and shall be turned over to the receiver or Commissioner immediately upon the receiver or the Commissioner’s request. (C) UFL shall have no automatic right to terminate this Agreement if Southern is placed in receivership pursuant to Wis. Stat. ch. 645. (D) UFL will continue to maintain any systems, programs, or other infrastructure maintained by UFL in providing the services to be provided by UFL for or on behalf of Southern under this Agreement notwithstanding such delinquency proceeding or seizure, and will make the same available to the receiver, for so long as UFL continues to receive timely payment in accordance with the terms and conditions of this Agreement for the services to be provided by UFL for or on behalf of Southern under this Agreement.
Sample 1
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Related to Delinquency Proceedings

  • Insolvency Proceedings, Etc Any Loan Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

  • Insolvency Proceedings In case there shall be pending, relative to the Borrower or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Collateral, proceedings under the Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Borrower, its property or such other obligor or Person, or in case of any other comparable judicial proceedings relative to the Borrower or other obligor upon the Notes, or to the creditors of property of the Borrower or such other obligor, the Collateral Agent irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Collateral Agent shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered but without any obligation, subject to Section 13.9(a), by intervention in such proceedings or otherwise: (a) to file and prove a claim or claims for the whole amount of principal and Interest owing and unpaid in respect of the Notes, all other amounts owing to the Lenders and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Collateral Agent (including any claim for reimbursement of all expenses (including the fees and expenses of counsel) and liabilities incurred, and all advances, if any, made, by the Collateral Agent and each predecessor Collateral Agent except as determined to have been caused by its own gross negligence or willful misconduct) and of each of the other Secured Parties allowed in such proceedings; (b) unless prohibited by Applicable Law and regulations, to vote (with the consent of the Agent) on behalf of the holders of the Notes in any election of a trustee, a standby trustee or person performing similar functions in any such proceedings; (c) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Secured Parties on their behalf; and (d) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Collateral Agent or the Secured Parties allowed in any judicial proceedings relative to the Borrower, its creditors and its property; and any trustee, receiver, liquidator, collateral agent or trustee or other similar official in any such proceeding is hereby authorized by each of such Secured Parties to make payments to the Collateral Agent and, in the event that the Collateral Agent shall consent to the making of payments directly to such Secured Parties, to pay to the Collateral Agent such amounts as shall be sufficient to cover all reasonable expenses and liabilities incurred, and all advances made, by the Collateral Agent and each predecessor Collateral Agent except as determined to have been caused by its own negligence or willful misconduct.

  • No Insolvency Proceedings No attachments, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings are pending, or to the Company’s Knowledge, threatened against the Company or any of the Company Subsidiaries, nor are any such proceedings contemplated by the Company or any of the Company Subsidiaries.

  • Bankruptcy Proceedings The commencement of any proceedings by or against Guarantor under any applicable bankruptcy, reorganization, liquidation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, trustee or other similar official is sought to be appointed for it;

  • Insolvency; Voluntary Proceedings The Company or any Material Subsidiary (i) ceases or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or otherwise; (ii) voluntarily ceases to conduct its business in the ordinary course; (iii) commences any Insolvency Proceeding with respect to itself; or (iv) takes any action to effectuate or authorize any of the foregoing; or

  • No Bankruptcy Proceedings No Person shall have commenced a proceeding against the Company pursuant to or within the meaning of any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced a voluntary case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property, or (III) orders the liquidation of the Company or any of its Subsidiaries.

  • Voluntary Bankruptcy or Insolvency Proceedings The Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) admit in writing its inability to pay its debts generally as they mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated, (v) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vi) take any action for the purpose of effecting any of the foregoing; or

  • Involuntary Bankruptcy or Insolvency Proceedings Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

  • Effectiveness in Insolvency Proceedings This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement” under section 510(a) of the Bankruptcy Code, shall be effective before, during and after the commencement of an Insolvency Proceeding.

  • Bankruptcy, Insolvency or Reorganization Proceedings If an Event of Default specified under Section 9.1.12 [Relief Proceedings] shall occur, the Lenders shall be under no further obligations to make Loans hereunder and the Issuing Lender shall be under no obligation to issue Letters of Credit and the unpaid principal amount of the Loans then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Lenders hereunder and thereunder shall be immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; and

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