Common use of W&I Policy Clause in Contracts

W&I Policy. (a) The Purchaser shall obtain and maintain the W&I Policy. (b) Within five Business Days from the date of this Agreement, the Purchaser shall deliver to the Sellers a copy of the signed and stamped (if applicable) W&I Policy. (c) The Purchaser shall: (i) take all commercially reasonable steps (which shall not require the Purchaser to initiate any litigation or arbitration) to enforce the terms of the W&I Policy in respect of any Losses that the Purchaser suffers or incurs in relation to any breach or inaccuracy of the representations and warranties of any Seller in this Agreement (other than the Excluded Warranties); (ii) not agree to any amendment, variation or waiver of the W&I Policy that could reasonably be expected to have an adverse impact on any Seller (or take any other action that has a similar effect) without the prior written consent of each Seller; (iii) not novate, or otherwise assign its rights under, the W&I Policy (or take any other action that has a similar effect) other than: (A) with the prior written consent of each Seller; or (B) to (I) any of its Affiliates or (II) a subsequent purchaser or transferee of all or a substantial portion of any Relevant Business, provided that in each case (I) and (II), each such Person undertakes to the Relevant Seller, in a form reasonably acceptable to such Seller, to be bound by the provisions of this Article 9 as though such Person was the “Purchaser”; (iv) satisfy on a timely basis those conditions to coverage explicitly set forth in the W&I Policy, and pay when due all premiums, fees, costs and taxes associated therewith; (v) not take any action that could reasonably be expected to cause the W&I Policy or the rights of any party thereunder to be terminated, cancelled, amended or limited in a manner that (A) could vitiate the W&I Policy or (B) could otherwise reasonably be expected to have an adverse impact on any Seller; and (vi) (A) ensure that the W&I Policy (I) includes an express waiver of the Insurer’s rights of subrogation, contribution and express rights acquired by assignment against each Seller, except to the extent that any Warranty Claim arises out of or results from fraud of such Seller, in which case the Insurer shall only be entitled to subrogate to the extent of the rights of recovery relating directly to the fraud of such Seller and (II) acknowledges the rights of such Seller as a third party beneficiary in respect of such waiver and (B) not agree to any amendment, variation or waiver of the foregoing (or take any other action that has a similar effect) without the prior written consent of such Seller. (d) The Purchaser acknowledges and agrees that: (i) each Seller has entered into this Agreement in reliance on the W&I Policy being obtained and maintained by the Purchaser; and (ii) notwithstanding any other provision in this Agreement or the W&I Policy, the other provisions of this Article 9 shall apply for the benefit of each Seller with respect to any Warranty Claim despite any vitiation, expiry or termination of, default under or failure to take out or enforce, the W&I Policy.

W&I Policy. (Notwithstanding any provision to the contrary in this agreement: a) The the parties acknowledge that the Purchaser has the benefit of the W&I Policy which provides (conditional on Completion) insurance coverage in respect of Warranty Claims and Tax Covenant Claims; b) the Purchaser shall obtain and maintain procure that the W&I Policy.Policy contains terms to the effect that the insurer shall be subrogated to (or may require the Purchaser to assign to the insurer) all rights of recovery of the Purchaser or the Group, save that the insurer shall only be entitled to subrogate against the Seller if the loss arose in whole or part out of the Seller’s fraud or fraudulent misrepresentation; and c) the Purchaser shall: i. provide a certified copy of the W&I Policy to the Seller within five (b5) Within five Business Days from of the date of this Agreement, the Purchaser shall deliver to the Sellers a copy of the signed and stamped (if applicable) W&I Policy. (c) The Purchaser shall: (i) take all commercially reasonable steps (which shall not require the Purchaser to initiate any litigation or arbitration) to enforce the terms of the W&I Policy in respect of any Losses that the Purchaser suffers or incurs in relation to any breach or inaccuracy of the representations and warranties of any Seller in this Agreement (other than the Excluded Warranties)agreement; (ii) . not agree to any amendment, variation variation, novation, assignment or waiver of the W&I Policy that could reasonably be expected to have an adverse impact on any Seller (or take any other action that do anything which has a similar effect) ), where such amendment, variation, novation, assignment or waiver would have an adverse effect on the Seller, without the express prior written consent of each the Seller;; and (iii) not novate. without limitation to any right of the Seller to separately enforce such terms, or otherwise assign its rights under, use all reasonable endeavours to enforce any term in the W&I Policy (or under which the insurer waives its rights to take any other subrogated action that has a similar effect) other than: (A) with against the prior written consent of each Seller; or (B) to (I) any of its Affiliates or (II) a subsequent purchaser or transferee of all or a substantial portion of any Relevant Business, provided that in each case (I) and (II), each such Person undertakes to Seller upon the Relevant Seller, in a form reasonably acceptable to such Seller, to be bound by the provisions of this Article 9 as though such Person was the “Purchaser”; (iv) satisfy on a timely basis those conditions to coverage explicitly terms set forth out in the W&I Policy, and pay when due all premiums, fees, costs and taxes associated therewith; (vd) the Purchaser acknowledges that there shall not take be any action that could reasonably be expected to cause the W&I Policy excess or the rights of any party thereunder to be terminated, cancelled, amended or limited in a manner that (A) could vitiate the W&I Policy or (B) could otherwise reasonably be expected to have an adverse impact on any Seller; and (vi) (A) ensure that the W&I Policy (I) includes an express waiver of the Insurer’s rights of subrogation, contribution and express rights acquired by assignment against each Seller, except to the extent that any Warranty Claim arises out of or results from fraud of such Seller, in which case the Insurer shall only be entitled to subrogate to the extent of the rights of recovery relating directly to the fraud of such Seller and (II) acknowledges the rights of such Seller as a third party beneficiary in respect of such waiver and (B) not agree to any amendment, variation or waiver of the foregoing (or take any other action that has a similar effect) without the prior written consent of such Seller. (d) The Purchaser acknowledges and agrees that: (i) each Seller has entered into this Agreement in reliance on the W&I Policy being obtained and maintained amount payable by the Purchaser; and (ii) notwithstanding any other provision in this Agreement or the W&I Policy, the other provisions of this Article 9 shall apply for the benefit of each Seller with respect to any Warranty Claim despite any vitiation, expiry or termination of, default under or failure to take out or enforce, the W&I Policy.

W&I Policy. (a) The Purchaser Purchasers shall obtain and maintain the W&I Policy. (b) Within five Business Days from the date of this Agreement, the Purchaser Purchasers shall deliver to the Sellers Seller a copy of the signed and stamped (if applicable) W&I Policy. (c) The Each Purchaser shall: (i) take all commercially reasonable steps (which shall not require the such Purchaser to initiate any litigation or arbitration) to enforce the terms of the W&I Policy in respect of any Losses that the such Purchaser suffers or incurs in relation to any breach or inaccuracy of the representations and warranties of any the Seller in this Agreement (other than the Excluded Warranties); (ii) not agree to any amendment, variation or waiver of the W&I Policy that could reasonably be expected to have an adverse impact on any the Seller (or take any other action that has a similar effect) without the prior written consent of each the Seller; (iii) not novate, or otherwise assign its rights under, the W&I Policy (or take any other action that has a similar effect) other than: (A) with the prior written consent of each the Seller; or (B) to (I) any of its Affiliates or (II) a subsequent purchaser or transferee of all or a substantial portion of any Relevant either Transferring Business, provided that in each case (I) and (II), each such Person undertakes to the Relevant Seller, in a form reasonably acceptable to such the Seller, to be bound by the provisions of this Article 9 as though such Person was the a “Purchaser”; (iv) satisfy on a timely basis those conditions to coverage explicitly set forth in the W&I Policy, and pay when due all premiums, fees, costs and taxes associated therewith; (v) not take any action that could reasonably be expected to cause the W&I Policy or the rights of any party thereunder to be terminated, cancelled, amended or limited in a manner that (A) could vitiate the W&I Policy or (B) could otherwise reasonably be expected to have an adverse impact on any the Seller; and (vi) (A) ensure that the W&I Policy (I) includes an express waiver of the Insurer’s rights of subrogation, contribution and express rights acquired by assignment against each the Seller, except to the extent that any Warranty Claim arises out of or results from fraud of such the Seller, in which case the Insurer shall only be entitled to subrogate to the extent of the rights of recovery relating directly to the fraud of such the Seller and (II) acknowledges the rights of such the Seller as a third party beneficiary in respect of such waiver and (B) not agree to any amendment, variation or waiver of the foregoing (or take any other action that has a similar effect) without the prior written consent of such the Seller. (d) The Purchaser acknowledges Purchasers acknowledge and agrees agree that: (i) each the Seller has entered into this Agreement in reliance on the W&I Policy being obtained and maintained by the PurchaserPurchasers; and (ii) notwithstanding any other provision in this Agreement or the W&I Policy, the other provisions of this Article 9 shall apply for the benefit of each the Seller with respect to any Warranty Claim despite any vitiation, expiry or termination of, default under or failure to take out or enforce, the W&I Policy.

W&I Policy. 2.1 Subject to paragraph 1.3, the Buyer acknowledges and agrees that: (a) The Purchaser its sole recourse in respect of any Business Warranty Claim or Tax Claim shall obtain and maintain be to make a claim under the W&I Policy.; (b) Within five the Buyer shall not make, and no Seller shall be liable for, any Business Days from Warranty Claim or Tax Claim unless and until (i) the date of this Agreement, the Purchaser shall deliver to the Sellers Buyer has made a copy claim in respect of the signed underlying Business Warranty Claim or Tax Claim against the W&I Insurer, (ii) the Buyer has taken all action necessary to prosecute such claim in accordance with the terms of the W&I Policy and stamped (if applicableiii) W&I Policy.that claim has been settled, agreed or otherwise determined; and (c) The Purchaser shall: (i) take all commercially reasonable steps (which shall not require the Purchaser to initiate any litigation or arbitration) to enforce absence of a recourse of the terms of Buyer under the W&I Policy in respect of any Losses that Business Warranty Claim or Tax Claim (including, without limitation, as the Purchaser suffers or incurs in relation to any breach or inaccuracy of the representations and warranties result of any Seller in this Agreement (other than the Excluded Warranties); (ii) not agree to any amendmentlimitation, variation exclusion, deduction or waiver of the W&I Policy that could reasonably be expected to have an adverse impact on any Seller (or take any other action that has a similar effect) without the prior written consent of each Seller; (iii) not novatederogation under, or otherwise assign its rights underany invalidity, the W&I Policy (or take any other action that has a similar effect) other than: (A) with the prior written consent of each Seller; or (B) to (I) any of its Affiliates or (II) a subsequent purchaser or transferee of all or a substantial portion of any Relevant Businessillegality, provided that in each case (I) and (II), each such Person undertakes to the Relevant Seller, in a form reasonably acceptable to such Seller, to be bound by the provisions of this Article 9 as though such Person was the “Purchaser”; (iv) satisfy on a timely basis those conditions to coverage explicitly set forth in the W&I Policy, and pay when due all premiums, fees, costs and taxes associated therewith; (v) not take any action that could reasonably be expected to cause the W&I Policy or the rights of any party thereunder to be terminated, cancelled, amended or limited in a manner that (A) could vitiate the W&I Policy or (B) could otherwise reasonably be expected to have an adverse impact on any Seller; and (vi) (A) ensure that the W&I Policy (I) includes an express waiver of the Insurer’s rights of subrogation, contribution and express rights acquired by assignment against each Seller, except to the extent that any Warranty Claim arises out of or results from fraud of such Seller, in which case the Insurer shall only be entitled to subrogate to the extent of the rights of recovery relating directly to the fraud of such Seller and (II) acknowledges the rights of such Seller as a third party beneficiary in respect of such waiver and (B) not agree to any amendment, variation or waiver of the foregoing (or take any other action that has a similar effect) without the prior written consent of such Seller. (d) The Purchaser acknowledges and agrees that: (i) each Seller has entered into this Agreement in reliance on the W&I Policy being obtained and maintained by the Purchaser; and (ii) notwithstanding any other provision in this Agreement or the W&I Policy, the other provisions of this Article 9 shall apply for the benefit of each Seller with respect to any Warranty Claim despite any vitiation, expiry or termination of, default under or failure to take out or enforce, the W&I Policy) or any inability of the Buyer to obtain any remedy in respect of any Business Warranty Claim or Tax Claim under the W&I Policy for any reason whatsoever (including, without limitation, any winding up, bankruptcy or other insolvency proceedings affecting any W&I Insurer, any failure of any W&I Insurer to perform its obligations under the W&I Policy, any non-payment by any W&I Insurer or any deductible, threshold or other financial limitation applying to the W&I Policy) shall not affect or increase the liability of any Seller under this Agreement, except as expressly stated otherwise in paragraph 1.3.

W&I Policy. (a) The Purchaser Purchasers shall obtain and maintain the W&I Policy. (b) Within five Business Days from the date of this Agreement, the Purchaser Purchasers shall deliver to the Sellers Seller a copy of the signed and stamped (if applicable) W&I Policy. (c) The Each Purchaser shall: (i) take all commercially reasonable steps (which shall not require the Purchaser to initiate any litigation or arbitration) to enforce the terms of the W&I Policy in respect of any Losses that the such Purchaser suffers or incurs in relation to any breach or inaccuracy of the representations and warranties of any the Seller in this Agreement (other than the Excluded Warranties); (ii) not agree to any amendment, variation or waiver of the W&I Policy that could reasonably be expected to have an adverse impact on any the Seller (or take any other action that has a similar effect) without the prior written consent of each the Seller; (iii) not novate, or otherwise assign its rights under, the W&I Policy (or take any other action that has a similar effect) other than: (A) with the prior written consent of each the Seller; or (B) to (I) any of its Affiliates or (II) a subsequent purchaser or transferee of all or a substantial portion of any Relevant Transferring Business, provided that in each case (I) and (II), each such Person undertakes to the Relevant Seller, in a form reasonably acceptable to such the Seller, to be bound by the provisions of this Article 9 as though such Person was the a “Purchaser”; (iv) satisfy on a timely basis those conditions to coverage explicitly set forth in the W&I Policy, and pay when due all premiums, fees, costs and taxes associated therewith; (v) not take any action that could reasonably be expected to cause the W&I Policy or the rights of any party thereunder to be terminated, cancelled, amended or limited in a manner that (A) could vitiate the W&I Policy or (B) could otherwise reasonably be expected to have an adverse impact on any the Seller; and (vi) (A) ensure that the W&I Policy (I) includes an express waiver of the Insurer’s rights of subrogation, contribution and express rights acquired by assignment against each the Seller, except to the extent that any Warranty Claim arises out of or results from fraud of such the Seller, in which case the Insurer shall only be entitled to subrogate to the extent of the rights of recovery relating directly to the fraud of such the Seller and (II) acknowledges the rights of such the Seller as a third party beneficiary in respect of such waiver and (B) not agree to any amendment, variation or waiver of the foregoing (or take any other action that has a similar effect) without the prior written consent of such the Seller. (d) The Purchaser acknowledges Purchasers acknowledge and agrees agree that: (i) each the Seller has entered into this Agreement in reliance on the W&I Policy being obtained and maintained by the PurchaserPurchasers; and (ii) notwithstanding any other provision in this Agreement or the W&I Policy, the other provisions of this Article 9 shall apply for the benefit of each the Seller with respect to any Warranty Claim despite any vitiation, expiry or termination of, default under or failure to take out or enforce, the W&I Policy.