LIMITATIONS ON WRITING OF TRANSITION GBO POLICIES Sample Clauses

LIMITATIONS ON WRITING OF TRANSITION GBO POLICIES. Unless otherwise agreed to by the parties hereto, the Company shall not be required to issue and cede Transition GBO Policies in any amount in any jurisdiction after the Transition Termination Date for that jurisdiction; except with respect to any renewal or conversion policies issued by the Company as required by law after the Transition Termination Date arising directly or indirectly with respect to any Coinsured Policy previously reinsured under this Coinsurance Agreement. Notwithstanding any other provision of this Coinsurance Agreement, prior to the last Transition Termination Date, the Company shall not be required to issue and cede (i) any Transition GBO Policies if upon issuance thereof the original gross written premiums for the aggregate of all Transition GBO Policies issued under this Coinsurance Agreement during the first year after the Effective Time, determined in accordance with SAP, would exceed an amount equal to 125% of the original gross written premiums for GBO Included Business during 1996, determined in accordance with SAP, (ii) any Transition GBO Policies if upon issuance thereof the original gross written premiums for the aggregate of all Transition GBO Policies issued under this Coinsurance Agreement during the eighteen (18) months after the termination of the first year after the Effective Time, determined in accordance with SAP, would exceed an amount equal to 100% of the original gross written premiums for GBO Included Business during 1996, determined in accordance with SAP, (iii) any Transition GBO Policies at any time that the Delaware Insurance Department has issued a corrective order regarding the risk based capital level of the Reinsurer and the subject matter of such corrective order has gone uncured for a period of thirty (30) consecutive days, (iv) any Transition GBO Policies to the extent that any applicable law, regulation, rule or stated position of a regulatory authority would prohibit the insurance or reinsurance of such Transition GBO Policies as contemplated hereunder, or (v) any Transition GBO Policies issued in a Permitted Jurisdiction, in the event that the Reinsurer's certificate of authority to do business in such Permitted Jurisdiction has not been obtained or has been revoked or suspended; PROVIDED, HOWEVER, that the Company shall issue and cede as Transition GBO Policies renewals of Existing GBO Policies issued in Maine, New Hampshire, Guam and Puerto Rico. The Company and the Reinsurer agree that upon the...
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to LIMITATIONS ON WRITING OF TRANSITION GBO POLICIES

  • Survival of Representations, Etc All representations and warranties contained in this Agreement or made in writing by or on behalf of the Borrower in connection herewith shall survive the execution and delivery of this Agreement and the Loan Documents, the making of the Advances and any investigation made by or on behalf of the Lenders, none of which investigations shall diminish any Lender’s right to rely on such representations and warranties. All obligations of the Borrower provided for in Sections 2.12, 2.13, 2.14(c), 9.04, and 9.07 and all of the obligations of the Lenders in Section 8.05 shall survive any termination of this Agreement and repayment in full of the Obligations.

  • Truth of Representations All of these representations shall be true as of the Closing and shall survive the Closing for a period of one year.

  • Incorporation of Representations and Warranties From Credit Agreement The representations and warranties contained in Section 5 of the Credit Agreement are and will be true, correct and complete in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date.

  • Term of Agreement; Resignation and Removal of Administrator This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically terminate.

  • Survival of Representations and Agreements All representations and warranties, covenants and agreements of the Underwriters and the Company contained in this Agreement or in certificates of officers of the Company submitted pursuant hereto, including the agreements contained in Section 6, the indemnity agreements contained in Section 8 and the contribution agreements contained in Section 9, shall remain operative and in full force and effect regardless of any investigation made by or on behalf of any Underwriter or any controlling person thereof or by or on behalf of the Company, any of its officers and directors or any controlling person thereof, and shall survive delivery of and payment for the Shares to and by the Underwriters. The representations contained in Section 1 and the agreements contained in Sections 6, 8, 9, 11, 12 and 18 hereof shall survive any termination of this Agreement, including termination pursuant to Section 10 or 12 hereof.

  • Reaffirmation of Representations The Borrower hereby repeats and reaffirms all representations and warranties made by the Borrower to the Administrative Agent and the Lenders in the Credit Agreement as amended by this Amendment and the other Credit Documents on and as of the date hereof with the same force and effect as if such representations and warranties were set forth in this Amendment in full.

  • Survival of Representations All representations and warranties made herein or in any other Loan Document or in certificates given pursuant hereto or thereto shall survive the execution and delivery of this Agreement and the other Loan Documents, and shall continue in full force and effect with respect to the date as of which they were made as long as any credit is in use or available hereunder.

  • Survival of Representations and Covenants All representations, warranties and covenants of the Pledgor contained herein shall survive the execution and delivery of this Pledge Agreement, and shall terminate only upon the termination of this Pledge Agreement.

  • Trustee’s Application for Instructions from the Company Any application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the Holders of the Notes under this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable to the Company for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any officer that the Company has indicated to the Trustee should receive such application actually receives such application, unless any such officer shall have consented in writing to any earlier date), unless, prior to taking any such action (or the effective date in the case of any omission), the Trustee shall have received written instructions in accordance with this Indenture in response to such application specifying the action to be taken or omitted.

  • Term of Agreement; Resignation and Removal of the Administrator (a) This Agreement shall continue in force until the dissolution of the Issuing Entity, upon which event this Agreement shall automatically terminate.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!