Novated Contracts. Reinsured Policies satisfying all of the requirements for novation and assumption under Section 11.3 and applicable Law shall be assumed by the Reinsurer on the applicable Assumption Date and shall be deemed to have been assumed by novation. Such contracts shall cease to be deemed “Reinsured Policies”, shall thenceforth not be deemed indemnity coinsured under Article II hereof and shall be defined herein as “Novated Contracts”. Notwithstanding the foregoing, in the event that (a) a Required Party rejects or fails to provide any consent required by applicable Law to the novation of a Reinsured Policy as reasonably determined by the Reinsurer or (b) a Novated Contract is determined by appropriate Governmental Entities or a court of competent jurisdiction to be not novated from the Ceding Company to the Reinsurer (including, but not limited to, jurisdictions requiring the Policyholder’s affirmative consent for novation where the Policyholder either did not or refused to provide such consent), then in the case of either of (a) or (b), such Novated Contract shall for all purposes of this Agreement be deemed, retroactive to the Effective Time, to be a Reinsured Policy and such novation shall be null and void and of no effect. For the avoidance of doubt, the Reinsured Risks for each such Novated Contract that is deemed to be a Reinsured Policy in accordance with the foregoing shall be deemed assumed by the Reinsurer retroactive to the Effective Time for all purposes of this Agreement. Notwithstanding the foregoing, such retroactive treatment of any Novated Contract that is deemed a Reinsured Policy shall not result in a default with respect to any payments in connection with a prior Net Settlement or Modco Reserve Adjustment process or any prior funding or withdrawal obligations or rights hereunder with respect to the Trust Account; provided, that any appropriate adjustments will be addressed in the next succeeding Net Settlement, Modco Reserve Adjustment and Trust Account adjustment processes in accordance with Sections 4.10 and 5.
Novated Contracts. Targeted Policies satisfying all of the requirements for novation under Applicable Law shall be assumed by the Reinsurer on the applicable assumption date and shall be deemed to have been assumed by novation. Such contracts shall cease to be “Reinsured Contracts” under this Agreement, and shall thereafter not be deemed indemnity coinsured under Article II (such contracts, the “Novated Contracts”). Notwithstanding the foregoing, in the event that a Novated Contract is determined by appropriate Governmental Authorities or a court of competent jurisdiction to not be novated from the Ceding Company to the Reinsurer (including in jurisdictions requiring the insured’s affirmative consent for novation where the insured or policyholder, as the case may be, either did not or refused to provide such consent), then such Novated Contract shall for all purposes of this Agreement be deemed, retroactive to the Effective Time, to be a Reinsured Contract and such novation shall be null and void and of no effect. All Targeted Policies not novated by the Reinsurer shall remain Reinsured Contracts of the Ceding Company.
Novated Contracts. Reinsured Policies satisfying all of the requirements for novation and assumption under Section 11.3 and applicable Law shall be assumed by the Reinsurer on the applicable Assumption Date and shall be deemed to have been assumed by novation. Such contracts shall cease to be deemed “Reinsured Policies”, shall thenceforth not be deemed indemnity coinsured under Article II hereof and shall be defined herein as “Novated Contracts”. Notwithstanding the foregoing, in the event that (a) a Required Party rejects or fails to provide any consent required by applicable Law to the novation of a Reinsured Policy as reasonably determined by the Reinsurer or (b) a Novated Contract is determined by appropriate Governmental Entities or a court of competent jurisdiction to be not novated from the Ceding Company to the Reinsurer (including, but not limited to, jurisdictions requiring the Policyholder’s affirmative consent for novation where the Policyholder either did not or refused to provide such consent), then in the case of either of (a) or (b), such Novated Contract shall for all purposes of this Agreement be deemed, retroactive to the Effective Time, to be a Reinsured Policy and such novation shall be null and void and of no effect. For the avoidance of doubt, the 46445052.5 1007063901v8
Novated Contracts. 5 ARTICLE IV
Novated Contracts. Required Consents
Novated Contracts. 16 9.4 Performance by Transferor of Residual Contracts after Completion . 16 9.5 Performance by Transferee of Residual Contracts after Completion ...... 17 9.6
Novated Contracts. 50 Part 3
Novated Contracts. The Transferor shall use reasonable endeavours to procure that on or as soon as reasonably practicable after Completion each relevant third party enters into a novation agreement in a form reasonably satisfactory to the Transferee in respect ofeach Novated Contract, with the intent that the Transferee shall perform the Novated Contract and be bound by it as if the Transferee were a party to it in place of the Transferor (or, as the case may be,the agent or trustee for the Transferor) from Completion but subject to the terms of Clauses 9.6, 9.7 and 9.8.
Novated Contracts. Agreement Parties Commencement Date Type of contract ----------------------------------------------------------------------------------------------------------------------------- ISR Agent
(1) EPFAL; and 30th April, 1997 Provision of Agreement.
(2) Cap Gemini UK PLC. audit and security facilities ----------------------------------------------------------------------------------------------------------------------------- Side Agreement A
(1) EPFAL; and 12th August, 1997 Agreement (relating to the (2) Cap Gemini UK PLC. relating to the ISR Agent provision of a Agreement). Data Transfer Service
(1) EPFAL; and 21st April, 1997 Provision of Administrator (2)
Novated Contracts. Contract No. DAAD05-93-D-7022, dated April 1, 1993, issued by the Directorate of Contracting, USAAPGSA, Xxxx Xxxxxxxx, XXX, Xxxxxxxx 00000-0000, to Essex Corporation, 0000 Xxxxxxxxxx Xxxx, Xxxxx 000, XxXxxx, Virginia 22102.
