Captive Insurance Entity means any Person (other than an individual) created solely for the purpose of purchasing or providing, or facilitating the provision of, insurance for products liability, workers compensation, property damage, professional indemnity, employee benefits, employer’s liability and motor and medical expenses, in each case, to the extent that such insurance may be so purchased, provided, or facilitated in accordance with applicable requirements of Law.
Captive Insurance Entity means an insurance company created and owned by a Credit Party whose primary purpose is to provide coverage on the risk of the Parent or the Parent’s Subsidiaries.
Captive Insurance Entity appearing in Section 1.01 (Defined Terms) of the Credit Agreement is hereby amended by deleting the text “Agents” in said definition and inserting the text “Administrative Agent” in lieu thereof.
Examples of Captive Insurance Entity in a sentence
Section 6.10 of the Credit Agreement is hereby amended by adding the following clause (f) at the end of such Section, and making the appropriate punctuation and grammatical changes thereto as follows: and (f) payments of insurance premiums by any Credit Party to the Captive Insurance Entity.
The following sentence is hereby added to the end of the definition of “Subsidiary”: Notwithstanding the foregoing, in no event shall the Captive Insurance Entity be considered a Subsidiary.
Excluded US Active Subsidiaries shall mean collectively the following Subsidiaries of any Loan Party: (a) any entity in the Big Lots Capital Group, (b) any Captive Insurance Entity, (c) any Qualified Community Development Entity and any Subsidiary of a Qualified Community Development Entity, and (d) the Subsidiaries of the Parent listed on Schedule 1.1(E)(3); each of which is referred to herein individually as an Excluded US Active Subsidiary.
More Definitions of Captive Insurance Entity
Captive Insurance Entity means any captive insurance company established for the purpose of insuring the Borrower and its Subsidiaries and that is or will be subject to regulation as an insurance subsidiary.
Captive Insurance Entity means any wholly-owned Subsidiary created solely for the purpose of purchasing or providing, or facilitating the provision of, insurance for products liability, workers compensation, property damage, professional indemnity, employee benefits, employer’s liability and motor and medical expenses, in each case, to the extent that such insurance may be so purchased, provided, or facilitated in accordance with applicable Law.
Captive Insurance Entity means a Subsidiary of the Company that engages in no activities other than issuing or otherwise providing insurance to the Company and its affiliates, and activities directly related to such activities.
Captive Insurance Entity means an insurance company created and owned by a Loan Party whose primary purpose is to provide coverage on the risk of the Parent or the Parent's Subsidiaries. Carryover Amount shall have the meaning assigned to such term in Section 7.2.14. CIP Regulations shall have the meaning assigned to such term in Section 9.18.
Captive Insurance Entity means any Wholly-Owned Subsidiary or other Person (other than an individual and otherwise reasonably acceptable to the Administrative Agent) created solely for the purpose of purchasing or providing, or facilitating the provision of, indemnity, insurance, or both, for acts or omissions of Persons acting or failing to act in their capacity as a director, officer, employee or agent of the Borrower or any Subsidiary of the Borrower to the extent that such insurance, indemnity, or both, may be so purchased, provided, or facilitated in accordance with applicable Requirements of Law.
Captive Insurance Entity means an insurance company created and owned by a Credit Party whose primary purpose is to provide coverage on the risk of the Parent or the Parent’s Subsidiaries. “Casualty” shall mean any damage or destruction of all or any portion of the Property as a result of a fire or other casualty. “CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. § 9601 et seq., as amended by the Superfund Amendments and Reauthorization Act of 1986. “Certifying Party” shall have the meaning given to such term in Section 26.3 of the Lease. “Claims” shall mean any and all obligations, liabilities, losses, actions, suits, penalties, claims, demands, costs and expenses (including reasonable attorney’s fees and expenses) of any nature whatsoever. “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. “Collateral” shall mean, excluding in all cases Excepted Payments, the assets and property upon which a Lien is created, exists or is purported to be created by one or more of the Security Documents. “Commencement Date” shall have the meaning given to such term in Section 2.2 of the Lease.
Captive Insurance Entity means an insurer a) registered as a trust under the Indian Trusts Act 1882 or under any other law for the time being in force in any State relating to trusts, or (b) which is registered as a Special Purpose Vehicle formed in India by any person including Government or (c) a public company.