Examples of Bermuda Law in a sentence
In accordance with Bermuda Law, the records of account and registers will be kept available for inspection by any Limited Partner or its duly authorized representatives during regular business hours at the registered office of the Partnership.
A Bermuda Law Event shall occur and be continuing, provided that any grace period provided under the provisions of this Section 8 or otherwise under this Agreement or under the other Loan Documents applicable to an equivalent breach of covenant under Section 7 shall apply to this Section 8.01(o).
The parties acknowledge and agree that for purposes of Bermuda Law (a) the Amalgamation shall be effected so as to constitute an “amalgamation” and (b) the Amalgamated Company shall be deemed to be an “amalgamated company” in accordance with Section 104 of the Companies Act.
Under Bermuda Law, an annual general meeting must be convened at least once in every calendar year.
The parties acknowledge and agree that for purposes of Bermuda Law: (i) the Merger shall be effected so as to constitute an “merger” in accordance with S.104H of the Companies Act; and (ii) the Surviving Company shall be deemed to be a “surviving company” as such term is understood under the Companies Act.
On and after the Effective Date, the Reinsurer shall establish and maintain as a liability on its Statutory Financial Returns filed with the BMA, Reserves for the Covered Insurance Contracts ceded hereunder, calculated consistent with (a) the reserve requirements, Bermuda SAP and actuarial principles applicable to the Company under Bermuda Law; and (b) otherwise in accordance with any valuation bases and methods of determining Reserves that may be provided in the Covered Insurance Contracts.
The assets that may be held in the SLDI Reserve Trust Account (the "Eligible Assets") shall consist of cash and investments of the type permitted by Bermuda Law; provided, that (i) each such investment that is a security is issued by an institution that is not the Reinsurer, the Company or an Affiliate of either party, and (ii) such investments comply with the requirements specified by the Eligible Asset Guidelines as set forth on Schedule 4.4.
All necessary corporate action required to have been taken by the Company in connection with the original issuance by the Company of the Selling Shareholder Shares pursuant to Bermuda Law has been taken by or on behalf of the Company, and all necessary approvals of the Bermuda Monetary Authority were duly obtained for the original issuance by the Company of the Selling Shareholder Shares.
Except as required by Bermuda Law, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Shareholder shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a shareholder of the Company.
This agreement shall be governed by an construed in accordance with Bermuda Law.