FOLLOW THE FORTUNES CLAUSE Sample Clauses

FOLLOW THE FORTUNES CLAUSE. The Reinsurer's liability shall attach simultaneously with that of the Company and all reinsurances for which the Reinsurer shall be liable by virtue of this Agreement shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, assessments, waivers, and to the same modifications, alterations and cancellations, as the respective Policy(ies) of the Company to which this Reinsurance Agreement relates. The true intent of this Agreement is that, in every case to which this Agreement applies and in the proportions specified herein, the Reinsurer shall follow the fortunes of the Company. This Article shall not apply insofar as the Company has been tortuous in handling a claim which is covered by this Agreement.
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FOLLOW THE FORTUNES CLAUSE. The Reinsurer's liability shall attach simultaneously with that of the Company and all reinsurance for which the Reinsurer shall be liable by virtue of this Agreement shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, assessments, waivers, and to the same modifications, alterations and cancellations, as the respective insurances (or reinsurances) of the Company to which such reinsurances relate. This Agreement shall further protect the Company in connection with any loss for which the Company may be legally liable to pay in excess of the limit having been incurred because of failure by it to settle within the policy limit or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against their Insured or in the preparation or prosecution of an appeal consequent upon such action. The true intent of the Agreement being that the Reinsurer shall, in every case to which this Agreement applies and in the Proportions specified herein, follow the fortunes of the Company. This Article shall not apply insofar as it can be shown that the Company has been negligent or guilty of bad faith in handling a claim which is the subject matter of this Agreement.
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FOLLOW THE FORTUNES CLAUSE. The REINSURER's liability shall attach simultaneously with that of MICCA and shall be subject in all respects to the same risks, terms, conditions, interpretations, waivers, and to the same modification, alterations and cancellations of the POLICIES, the true intent of this AGREEMENT being that the REINSURER shall, in every case to which this AGREEMENT applies, follow the underwriting fortunes of MICCA. Nothing shall in any manner create any obligations or establish any rights against the Reinsured in favor of any third parties or any person not a party to this AGREEMENT.
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FOLLOW THE FORTUNES CLAUSE. The Reinsurers’ liability shall attach simultaneously with that of the Company and all reinsurance for which the Reinsurers shall be liable by virtue of this Agreement shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, assessments, waivers, and to the same modifications, alterations and cancellations, as the respective Policies of each of the Companies to which this Agreement relates. This Agreement shall further protect the Company in connection with any Loss for which the Company may be legally liable to pay in excess of the Policy limit(s) or extra contractual obligations which have been incurred because of failure by the Company to settle within said limits or by reason of alleged negligence or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its Insured or in the preparation or prosecution of any appeal consequent upon such action. The true intent of this Agreement being that the Reinsurers shall, in every case to which this Agreement applies and in the proportions specified herein, follow the fortunes of the Company. Notwithstanding anything to the contrary herein, this Agreement shall not apply to any Loss in excess of Policy limits or extra contractual obligations incurred by a Company as a result of any fraudulent or criminal act by any officer of director of such Company, acting individually or collectively, or in collusion with any individual, corporation or any other organization or party involved in the presentation, defense or settlement of any claim covered hereunder.
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Related to FOLLOW THE FORTUNES CLAUSE

  • CONTRACT CLAUSES SECTION I -

  • Cooperation Clause (a) To facilitate the orderly conduct of the Company and its Related Entities’ businesses, for the twelve (12)-month period following the Effective Date, Executive agrees to cooperate, at no charge, with the Company and its Related Entities’ reasonable requests for information or assistance related to the time of his/her employment.

  • Grant Clause (a) It is intended that the conveyance of the Depositor's right, title and interest in and to property constituting the Trust Fund pursuant to this Agreement shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan. However, if such conveyance is deemed to be in respect of a loan, it is intended that: (1) the rights and obligations of the parties shall be established pursuant to the terms of this Agreement; (2) the Depositor hereby grants to the Trustee for the benefit of the Holders of the Certificates a first priority security interest in all of the Depositor's right, title and interest in, to and under, whether now owned or hereafter acquired, the Trust Fund and all proceeds of any and all property constituting the Trust Fund to secure payment of the Certificates; and (3) this Agreement shall constitute a security agreement under applicable law. If such conveyance is deemed to be in respect of a loan and the trust created by this Agreement terminates prior to the satisfaction of the claims of any Person holding any Certificate, the security interest created hereby shall continue in full force and effect and the Trustee shall be deemed to be the collateral agent for the benefit of such Person, and all proceeds shall be distributed as herein provided.

  • Savings Clause If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by applicable law.

  • Representations Relating to Documents and Legal Compliance Borrower represents and warrants to Silicon as follows: All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Receivables are and shall be true and correct and all such invoices, instruments and other documents and all of Borrower's books and records are and shall be genuine and in all respects what they purport to be, and all signatories and endorsers have the capacity to contract. All sales and other transactions underlying or giving rise to each Receivable shall fully comply with all applicable laws and governmental rules and regulations. All signatures and endorsements on all documents, instruments, and agreements relating to all Receivables are and shall be genuine, and all such documents, instruments and agreements are and shall be legally enforceable in accordance with their terms.

  • Integration Clause Except for documents and instruments specifically referenced herein, this Agreement constitutes the entire agreement between Bank and Borrower regarding the Loan and all prior communications verbal or written between Borrower and Bank shall be of no further effect or evidentiary value.

  • NOW THEREFORE THIS AGREEMENT WITNESSETH that, in consideration of the mutual covenants and provisos herein contained, THE PARTIES HERETO AGREE AS FOLLOWS:

  • Conditions Precedent to Obligation of Purchaser The obligation of Purchaser to consummate the transaction hereunder shall be subject to the fulfillment on or before the Closing Date of all of the following conditions, any or all of which may be waived by Purchaser in its sole discretion:

  • SIGNATURE CLAUSE This Agreement shall become effective as of the date set forth above when fully executed by both Parties, provided that the payments specified in Section 11 of this Agreement have been received by SCE on or before this date. Payment to SCE must be sent to SCE (at the address set for on page 1 of this Agreement), ATTN: Administrative Assistant for Grid Interconnection and Contract Development. If this Agreement is not signed by Applicant within fifteen (15) calendar days of the Agreement being submitted to Applicant for signature, then SCE’s offer to perform the Study described in this Agreement shall be treated as rejected by Applicant and this Agreement will be of no effect. Southern California Edison Company Coronus Energy Corporation By: Xxxx Xxxxxxxxxx By: Xxxx Xxxxxxx Name: Xxxx Xxxxxxxxxx Name: Xxxx Xxxxxxx Title: Manager, Grid Interconnections and Contract Development, Eastern Title: Director & CEO Date: 12/21/2011 Date: 05/03/2012

  • Conditions to Obligation of Purchaser The obligation of Purchaser to consummate the transactions to be performed by it in connection with the Closing is subject to satisfaction of the following conditions:

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