Related Person Insurance Income Sample Clauses

Related Person Insurance Income. Except as disclosed in the Disclosure Package and the Prospectus, Assured Guaranty Re Ltd. intends to operate in a manner that is intended to ensure that either (i) the related person insurance income of such company does not equal or exceed 20% of such company’s gross insurance income for any taxable year in the foreseeable future or (ii) at all times during each taxable year for the foreseeable future less than 20% of the voting power and less than 20% of the value of the shares of Assured Guaranty Re Ltd. is owned (directly or indirectly) by persons who are (directly or indirectly) insured (each, an “insured”) under any policy of insurance or reinsurance issued by Assured Guaranty Re Ltd. or related persons to any such insured.
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Related Person Insurance Income. The Company believes that its and its Subsidiary’s gross related person insurance income (as defined in Section 953(c)(2) of the Code) will not equal or exceed 20% of each such company’s gross insurance income for any taxable year in the foreseeable future.
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Related Person Insurance Income. (a) The Company shall use its best efforts to cause CGA not to sell insurance or reinsurance to a U.S. person which is a shareholder of the Company ("U.S. Shareholder") or a related person (within the meaning of Section 953(c)(6) of the Code) to a U.S. Shareholder ("Related Person") and which would therefore generate related person insurance income (within the meaning of Section 953(c)(2) of the Code) ("RPII") if the Company knows that (i) 20% or more of CGA's gross insurance income in any taxable year will be RPII and (ii) persons which are directly or indirectly insured or reinsured by CGA ("Insureds") or Related Persons to Insureds own 20 percent or more of the stock of CGA ("Excess RPII"); provided, however, that it is hereby understood that the Company shall not be considered to violate this Section 5.15(a) by virtue of such sale which the Company has reason to believe will generate Excess RPII if the Company receives the prior approval of 100% of the members of the Board then in office; provided, further, that it is hereby understood that this Section 5.15(a) does not alter any provision in the Company's Bye-laws and all actions taken in connection herewith must comply with such Bye-laws.
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Related Person Insurance Income. (a) The Company represents that to the best of its knowledge: (i) it does not own, directly or indirectly, any shares of ACE Limited, (ii) no Person that controls the Company through direct or indirect ownership of fifty (50) percent or more (by vote or value) of the capital stock of the Company owns any shares of ACE Limited, and (iii) no Person that is controlled by the Company through direct or indirect ownership of fifty (50) percent or more (by vote or value) of the capital stock of that Person (“Controlled Person”) owns any shares of ACE Limited. (b) The Company agrees that, during the term of this Agreement, it will not knowingly purchase, and to the extent reasonably practicable, it will not permit any Controlled Person to purchase any shares of ACE Limited.
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Related Person Insurance Income. Except as disclosed in the Disclosure Package and the Prospectus, Assured Guaranty Re Ltd. and Assured Guaranty (UK) Ltd. intend to operate in a manner that is intended to ensure that the related person insurance income of each such company does not equal or exceed 20% of each such company’s gross insurance income for any taxable year in the foreseeable future;
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Related Person Insurance Income. (a) The Company shall use its best efforts to cause CGA not to sell insurance or reinsurance to a U.S. person that is a shareholder of the Company ("U.S. Shareholder") or a related person (within the meaning of Section 953(c)(6) of the Code) to a U.S. Shareholder ("Related Person") and which would therefore generate related person insurance income (within the meaning of Section 953(c)(2) of the Code) ("RPII") if the Company knows that (i) 20% or more of CGA's gross insurance income in any taxable year (interpreted in accordance with Section 953(c)(3)(B) of the Code) will be RPII and (ii) persons which are directly or indirectly insured or reinsured by CGA ("Insureds") or Related Persons to Insureds own stock of CGA that represents 20% or more of the combined voting power of all classes of stock of the Company that are entitled to vote or 20% or more of the total value of the Company ("Excess RPII"); provided, however, that it is hereby understood that the Company shall not be considered to violate this Section 5.13(a) by virtue of such sale which the Company has reason to believe will generate Excess RPII if the Company receives the prior approval of 100% of the members of the Board then in office; provided, further, that it is hereby understood that this Section 5.13(a) does not alter any provision in the Amended and Restated Bye-laws and all actions taken in connection herewith must comply with such Amended and Restated Bye-laws.
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Related Person Insurance Income. The Company represents that (i) it does not own, directly or indirectly, any shares of ACE Limited, (ii) no person that controls the Company through direct or indirect ownership of 50% or more (by vote or value) of the capital stock of the Company (a “Controlling Person”) owns any shares of ACE Limited and (iii) no person that is controlled by the Company through direct or indirect ownership of 50% or more (by vote or value) of that person (a “Controlled Person”) owns any shares of ACE Limited. The Company agrees that, during the Term, it will not purchase, and it will not permit any Controlled Person to purchase, any shares of ACE Limited. SIGNING SCHEDULE Attaching to and forming part of this Agreement In witness whereof this Agreement is signed on behalf of THE PRUDENTIAL INSURANCE COMPANY OF AMERICA By: Name: Title: Date:
Sample 1
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Related Person Insurance Income. (a) The Company shall use its best efforts to cause CGA not to sell insurance or reinsurance to a U.S. person that is a shareholder of the Company ("U.S. Shareholder") or a related person (within the meaning of Section 953(c)(6) of the Code) to a U.S. Shareholder ("Related Person") and which would therefore generate related person insurance income (within the meaning of Section 953(c)(2) of the Code) ("RPII") if the Company knows that (i) 20% or more of CGA's gross insurance income in any taxable year (interpreted in accordance with Section 953(c)(3)(B) of the Code) will be RPII and (ii) persons which are directly or indirectly insured or reinsured by CGA ("Insureds") or Related Persons to Insureds own stock of CGA that represents 20% or more of the combined voting power of all classes of stock of the Company that are entitled to vote or 20% or more of the total value of the Company ("Excess RPII"); provided, however, that it is hereby understood that the Company shall not be considered to violate this Section 5.13(a) by virtue of such sale which the Company has reason to believe will generate Excess RPII if the Company receives the prior approval of 100% of the members of the Board then in office; provided, further, that it is hereby understood that this Section 5.13(a) does not alter any provision in the Amended and Restated Bye-laws and all actions taken in connection herewith must comply with such Amended and Restated Bye-laws. (b) In the event that the Board shall have given prior authorization (as provided in subsection (a) of this Section 5.13) for CGA to sell insurance or reinsurance which the Company has reason to believe will generate Excess RPII for any tax year, then, unless a U.S. statute, a final regulation of the U.S. Treasury or a published ruling of the U.S. Internal Revenue Service issued after the Closing Date provides or establishes that subpart F insurance income (as defined in Code Section 953) does not constitute unrelated business taxable income (as defined in Code Section 512), the Company shall notify any U.S. Shareholder that the Company knows is subject, pursuant to Code Section 511, to tax only on its unrelated business taxable income not later than June 30 of the tax year in which the Company proposes that CGA generate Excess RPII of such authorization. SECTION 5.14
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Related to Related Person Insurance Income

  • Key Person Insurance At any time during the Term, the Company shall have the right to insure the life of Executive for the Company’s sole benefit. The Company shall have the right to determine the amount of insurance and the type of policy. Executive shall reasonably cooperate with the Company in obtaining such insurance by submitting to physical examinations, by supplying all information reasonably required by any insurance carrier, and by executing all necessary documents reasonably required by any insurance carrier, provided that any information provided to an insurance company or broker shall not be provided to the Company without the prior written authorization of Executive. Executive shall incur no financial obligation by executing any required document, and shall have no interest in any such policy.

  • Business Interruption Insurance Upon receipt by Company or any of its Subsidiaries of any business interruption insurance proceeds constituting Net Insurance/Condemnation Proceeds, (a) so long as no Event of Default shall have occurred and be continuing, Company or such Subsidiary may retain and apply such Net Insurance/Condemnation Proceeds for working capital purposes, and (b) if an Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitment Amount shall be reduced) as provided in subsection 2.4B;

  • ' Compensation Insurance PURCHASER shall perform the operations in accordance with the requirements of the Workers' Compensation Law of the State of Oregon during the term of this contract. In addition, the PURCHASER, its subcontractors, if any, and all employers providing work, labor, or materials under this contract are subject employers under the Oregon Workers' Compensation Law and shall comply with ORS 656.017 and 656.029, which requires them to provide workers' compensation coverage that satisfies Oregon law for all their subject workers. Out-of-state employers must provide Oregon workers' compensation coverage for their workers who work at a single location within Oregon for more than 30 days in a calendar year. Contractors who perform the operations without the assistance or labor of any employee need not obtain such coverage.

  • Indemnification Insurance (a) The Local Church shall defend, indemnify, and hold the Annual Conference (including its officers, directors, trustees, agents, employees, members and the like) harmless against any and all investigations, actions, claims, demands, lawsuits, loss, costs, damages, judgments, liabilities, settlement or expenses incurred, claimed, obtained, or sustained, including without limitation attorneys’ fees and costs, of any nature whatsoever, whether in law or in equity, including without limitation claims relating to or allegedly relating to employment matters, personal injuries, the Real Property, the Personal Property, contracts, agreements, loans, Subsidiary operations or claims related thereto, or relating to the transactions contemplated in this Disaffiliation Agreement, including the disaffiliation of the Local Church. Annual Conference reserves the right to select counsel to defend and/or bring any such claims. Notwithstanding the Annual Conference’s right to the choice of counsel, Local Church shall solely be responsible for any and all attorneys’ fees, costs, and expenses relating to any and all such actions. The Annual Conference shall promptly notify the Local Church of any claims hereunder, and the Annual Conference shall have the sole right to control and direct all litigation and settle any and all claims hereunder.

  • Business Insurance The Transaction Entities and their respective subsidiaries carry or are entitled to the benefits of insurance, with financially sound and reputable insurers, in such amounts and covering such risks as is generally maintained by companies of established repute engaged in the same or similar business, and all such insurance is in full force and effect. Neither of the Transaction Entities has any reason to believe that it or any of their respective subsidiaries will not be able to (A) renew, if desired, its existing insurance coverage as and when such policies expire or (B) obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not reasonably be expected to, singly or in the aggregate, result in a Material Adverse Effect.

  • Workers’ Compensation Insurance Contractor shall obtain and maintain a policy of workers’ compensation insurance for all of Contractor’s employees in accordance with the provisions of Labor Code Sections 3700, et seq., and all other applicable laws and requirements. In case any class of employee is not protected under the workers’ compensation laws for any reason, Contractor shall provide adequate coverage as shall be necessary for the protection of such employees. Prior to commencement of the Work, Contractor shall sign and file with District a certification regarding insurance for workers’ compensation in accordance with Labor Code Section 1861.

  • Group Insurance 38.01 The Group Insurance Plan presently in effect shall remain in effect during the term of this Agreement.

  • Additional Insurance Contractor may obtain additional insurance not required by this Contract.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Medical Insurance Upon termination of employment, the Executive shall be entitled to all COBRA continuation benefits available under the Company's group health plans to similarly situated employees. To the extent permitted under Code Section 409A, during the applicable Payout Period, the Company shall provide such COBRA continuation benefits to the Executive at the active employee rates similarly situated employees must pay for such benefits. Upon the expiration of such Payout Period, the Executive will be responsible for paying the full COBRA premiums for the remaining COBRA continuation period.

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