Common use of Documents and Data Clause in Contracts

Documents and Data. ‌ In the course of Insurer’s performance of this Contract, Insurer agrees that Data and FHKC- generated data is and shall remain the sole and exclusive property of FHKC, free and clear of any and all claims of Insurer. All Data and FHKC-generated data shall be immediately delivered to FHKC in the format to be mutually agreed upon by the Parties as requested or upon commencement of transition as set forth in section 45. Section 9: Financial Requirements‌ 9.1 General Financial Requirements‌ At a minimum, Insurer shall meet the solvency requirements necessary to maintain a certificate of authority in the State of Florida, as determined by the applicable laws and regulations and the Office of Insurance Regulation. In no event shall FHKC or Enrollees be held liable for Insurer’s debt. Insurer shall make sufficient provision against the risk of insolvency to ensure Enrollees will not be liable for Insurer’s debt in the event Insurer becomes insolvent. Insurer shall provide Insurer’s audited financial statements to FHKC for Insurer’s preceding fiscal year by July 1st each year. Failure to comply with the solvency requirements of this provision constitutes an Event of Default and renders the Contract subject to unilateral cancellation by FHKC, at FHKC’s sole discretion.