Approved Asbestos Insurance Settlement definition

Approved Asbestos Insurance Settlement means a settlement by the US Borrower or any of its Subsidiaries of claims under an insurance policy with respect to coverage for asbestos matters, provided that (a) such settlement is made in good faith and (b) to the extent that the aggregate amount of settlement proceeds received after the Closing Date exceeds $25 million, such settlement is on terms that have been approved by the Required Lenders or is no less favorable to the US Borrower and its Subsidiaries than such approved terms.
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Examples of Approved Asbestos Insurance Settlement in a sentence

  • The Debtor’s remaining unliquidated assets of significant value are its Asbestos Insurance Rights and any other rights, Claims and interests in and under its Asbestos Insurance Policies (other than policies subject to an Approved Asbestos Insurance Settlement Agreement).

  • For the avoidance of doubt, this Policy Injunction bars any Claim released in an Approved Asbestos Insurance Settlement Agreement, and any Claim otherwise barred, as to which a person asserts to be an insured on a third-party beneficiary theory or other similar theory or by virtue of having a judgment or Allowed Claim against the Debtor.

  • As a condition to making any payment to a Holder of an Asbestos PI Claim, the Liquidating Trust shall obtain a release of all of such Holder’s Claims against (i) the Debtor, (ii) the Liquidating Trust, and (iii) any Settling Asbestos Insurance Company, that relate in any way to the Debtor or the Asbestos Insurance Policies addressed under the Approved Asbestos Insurance Settlement Agreements.

  • The Trust Assets shall include, without limitation: Excess Cash; all rights under Approved Asbestos Insurance Settlement Agreements; the Asbestos Insurance Rights; and the Qualified Settlement Fund.

  • The Plan contemplates protecting the rights of Asbestos Insurance Companies that are not parties to Approved Asbestos Insurance Settlement Agreements with the Debtor.

  • On the Effective Date, the Estate shall transfer the Trust Assets, which shall include the Excess Cash, all rights under Approved Asbestos Insurance Settlement Agreements and the Asbestos Insurance Rights, to the Liquidating Trust for the benefit of Holders of Asbestos PI Claims.

  • The Debtor asserts that the Plan provides for fair and equitable treatment of all Classes of Claims, and that the only sources of funds available to distribute to creditors are cash on hand, including the proceeds from Approved Asbestos Insurance Settlement Agreements, the Debtor’s Asbestos Insurance Rights and its rights and interests in any other remaining insurance policies.

  • Moreover, the orders approving the Approved Asbestos Insurance Settlement Agreements eviscerate any claims CNA might have against any Settling Asbestos Insurance Company based on such rights.

Related to Approved Asbestos Insurance Settlement

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Ocean marine insurance means insurance against loss of or damage to:

  • Flood Insurance Study means the official report provided by the Federal Insurance Administration that includes flood profiles, the Flood Insurance Rate Map, the Flood Boundary and Floodway Map, and the water surface elevation of the base flood.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Flood Insurance Study (FIS means an examination, evaluation, and determination of flood hazards, corresponding water surface elevations (if appropriate), flood hazard risk zones, and other flood data in a community issued by the FEMA. The Flood Insurance Study report includes Flood Insurance Rate Maps (FIRMs) and Flood Boundary and Floodway Maps (FBFMs), if published.

  • Blanket insurance policy means a group policy covering a defined class of

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Regulated Insurance Company means any Subsidiary of the Borrower, whether now owned or hereafter acquired, that is authorized or admitted to carry on or transact Insurance Business in any jurisdiction and is regulated by any Applicable Insurance Regulatory Authority.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • approved blood scheme means a scheme established or approved by the Secretary of State, or trust established with funds provided by the Secretary of State, for the purpose of providing compensation in respect of a person having been infected from contaminated blood products;

  • Own risk and solvency assessment means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks.

  • Federal Flood Insurance means federally backed Flood Insurance available under the National Flood Insurance Program to owners of real property improvements located in Special Flood Hazard Areas in a community participating in the National Flood Insurance Program.

  • Xxxxxxx Mac Guide The Xxxxxxx Mac Single Family Seller/Servicer Guide and all amendments or additions thereto.

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a resident licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Bulk PMI Policy Not applicable.

  • Flood Insurance means the insurance coverage provided under the National Flood Insurance Program.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Uniform Single Attestation Program for Mortgage Bankers The Uniform Single Attestation Program for Mortgage Bankers, as published by the Mortgage Bankers Association of America and effective with respect to fiscal periods ending on or after December 15, 1995.

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Captive Insurance Subsidiary means any Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Subsidiary thereof).