Successor Practice. The Insurer will indemnify each Insured against civil liability to the extent that it arises from Private Legal Practice in connection with a Successor Practice to the Insured Firm’s Practice (where succession is as a result of one or more separate mergers, acquisitions, absorptions or other transitions), provided that a Claim in respect of such liability is first made against an Insured:
(a) during the Period of Insurance; or
(b) during or after the Period of Insurance and arising from Circumstances first notified to the Insurer during the Period of Insurance.
Successor Practice. The insurance must indemnify each insured against civil liability to the extent that it arises from private legal practice in connection with a successor practice to the insured firm‟s practice (where succession is as a result of one or more separate mergers, acquisitions, absorptions or other transitions), provided that a claim in respect of such liability is first made against an insured:
(a) during the period of insurance; or
(b) during or after the period of insurance and arising from circumstances first notified to the insurer during the period of insurance unless run-off cover is provided in accordance with clause 5.3.
Successor Practice. ‘double insurance’
Successor Practice. Successor Practice means a practice identified in this definition as ‘B’, where -
(a) ‘A’ is the practice to which B succeeds; and
(b) ‘A’s owner’ is the owner of A immediately prior to transition; and
(c) ‘B’s owner’ is the owner of B immediately following transition; and
(d) ‘transition’ means merger, acquisition, absorption or other transition which results in A no longer being carried on as a discrete legal practice. B is a Successor Practice to A where -
(i) B is or was held out, expressly or by implication, by B’s owner as being the successor of A or as incorporating A, whether such holding out is contained in notepaper, business cards, form of electronic communications, publications, promotional material or otherwise, or is contained in any statement or declaration by B’s owner to any regulatory or taxation authority; and/or
(ii) (where A’s owner was a sole practitioner and the transition occurred on or before 31 August 2000) - the sole practitioner is a Principal of B’s owner; and/or
(iii) (where A’s owner was a sole practitioner and the transition occurred on or after 1 September 2000) - the sole practitioner is a Principal or Employee of B’s owner; and/or
(iv) (where A’s owner was a Recognised Body) - that body is a Principal of B’s owner; and/or
(v) (where A’s owner was a Partnership) - the majority of the Principals of A’s owner have become Principals of B’s owner; and/or
(vi) (where A’s owner was a Partnership and the majority of Principals of A’s owner did not become Principals of the owner of another legal practice as a result of the transition) - one or more of the Principals of A’s owner have become Principals of B’s owner and -
(A) B is carried on under the same name as A or a name which substantially incorporates the name of A (or a substantial part of the name of A); and/or
(B) B is carried on from the same premises as A; and/or
(C) the owner of B acquired the goodwill and/or assets of A; and/or
(D) the owner of B assumed the liabilities of A; and/or
(E) the majority of staff employed by A’s owner became employees of B’s owner. Notwithstanding the foregoing, B is not a Successor Practice to A under paragraph (ii), (iii), (iv) (v) or (vi) if another practice is or was held out by the owner of that other practice as the successor of A or as incorporating A, provided that there is insurance complying with these minimum terms and conditions in relation to that other practice.
Successor Practice. The insurance must indemnify each Insured against civil liability to the extent that it arises from Private Legal Practice in connection with a Successor Practice to the Insured Firm‘s Practice (where succession is as a result of one or more separate mergers, acquisitions, absorptions or other transitions), provided that a Claim in respect of such liability is first made against an Insured:
(a) during the Period of Insurance; or
(b) during or after the Period of Insurance and arising from Circumstances first notified to the Insurer during the Period of Insurance., unless run-off cover is provided in accordance with clause 5.3.
Successor Practice. The insurance must indemnify each Insured against civil liability to the extent that it arises from Private Legal Practice in connection with a Successor Practice to the Firm's Practice (where succession is as a result of one or more separate mergers, acquisitions, absorptions or other transitions), provided that a Claim in respect of such liability is first made against an Insured -
