Assumed Policy definition

Assumed Policy refers to any policy that has been assumed, removed, or taken-out from Citizens pursuant to the Plan by Insurer.
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Assumed Policy means each of the Policies.
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Assumed Policy has the meaning ascribed to it in the Assumption Agreement.
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Examples of Assumed Policy in a sentence

  • On the applicable Assumption Effective Date, the Reinsurer shall be the successor of the Company with respect to the Assumed Policy, and such Assumed Policy shall be the direct obligation of the Reinsurer, and the Company shall have no further rights or liability thereunder.

  • The Policyholder and any persons insured under the Assumed Policy shall thereafter disregard the Company as a party to the Assumed Policy and treat the Reinsurer as if it had been originally obligated under the Assumed Policy.

  • The substitution of the Reinsurer for the Company under an Assumed Policy with the result that the Reinsurer becomes directly liable to the Policyholder as of the Assumption Effective Date and the Company's liability to the Policyholder under such Assumed Policy is extinguished.

  • Upon the Assumption Effective Date with respect to any Coinsured Contract, the Ceding Company shall have no further obligation, liability or risk arising under, in connection with or related to the Assumed Policy.

  • Any policyholder under an Assumed Policy may elect to return to Citizens (also referred to as opting out of the assumption) under the conditions stated in the Consent Order (a “Returned Policy”).

  • Assumed Policy has the meaning ascribed to it in the Assumption Agreements.

  • Any payments for benefits made under any Assumed Policy by the Company prior to the applicable Assumption Effective Date shall be deemed to have been made by the Reinsurer for purposes of determining any maximum benefits payable under any of the Assumed Policies.

  • On and after the applicable Assumption Effective Date, the Policyholder and the insured or beneficiary under any Assumed Policy shall have the right to file claims for benefits under the Assumed Policy directly with the Reinsurer, and shall have a direct right of action against the Reinsurer therefor.

  • The certificate to be issued by the Reinsurer to the Policyholder of any Assumed Policy and which is substantially in the form provided in the Assumption Agreement, as modified and approved by various state insurance regulatory authorities.

  • Metabolite numbers are as shown in the metabolic scheme with metabolites 8- 12 unidentified… 42Table 18: Mass Balance of R089674 and Major Metabolites In Human Hepatocyte Cultures and Liver Subcellular Fractions.


More Definitions of Assumed Policy

Assumed Policy means any Ceded Policy to which an Assumption Effective Date applies, other than (a) a Ceded Policy for which the Unitrin Companies have provided Xxxxxx with an Exclusion Notice and not an Assumption Notice or (b) a Ceded Policy for which no company is identified on Exhibit A as eligible to assume such Ceded Policy.
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Related to Assumed Policy

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • R&W Policy means those certain buyer-side representations and warranties insurance policies purchased by Buyer in connection with this Agreement.

  • Claims Made Policies has the meaning set forth in Section 5.01(b).

  • Shared Policies has the meaning set forth in Section 8.1(b).

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Lapsed Policy means a Policy which has not acquired the Surrender Value and where the due Premium has not been received till the expiry of the Grace Period.

  • Reinsured Policies has the meaning assigned to it in the Reinsurance Agreement.

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • D&O Policies has the meaning set forth in Section 8.06.

  • Seller Plan means any Employee Benefit Plan that is maintained or sponsored by the Seller or any Subsidiaries of the Seller (other than the Companies and their Subsidiaries) for the benefit of any current or former NewCo Employee.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Insurance Policies has the meaning set forth in Section 3.16.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Assumed Servicing Liability means any Liabilities with respect to any Serviced Appointments (or Serviced Corporate Trust Contracts) that arise out of or relate to facts, circumstances, actions, omissions and/or events occurring from and after the Closing and prior to the applicable Succession Time for such Serviced Appointment; provided that Assumed Servicing Liability shall not include any Liabilities that arise out of or relate to facts, circumstances, actions, omissions and/or events with respect to any Retained Duties or any matters for which Seller or any of its Affiliates is responsible pursuant to Section 3.9.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Seller Employee Plan means any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

  • Insurance Contracts means all contracts and policies of insurance and re-insurance maintained or required to be maintained by or on behalf of any Grantor under the Loan Documents.

  • Insured contract means any written: a. leases of premises; b. easement agreements, except those concerning construction or demolition operations abutting railroad property; c. obligation to insure a municipality as required by law or ordinance, except in connection with work for the municipality; d. sidetrack agreements; or e. elevator maintenance agreements.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Assumed Agreements shall have the meaning as set forth in Section 2.2.