Current Insurance Policies definition
Examples of Current Insurance Policies in a sentence
In the event that Seller shall become aware of any fact, event or circumstance (other than a fire or other casualty loss, which Seller shall address in accordance with Section 7.05(b)) arising after the date of this Agreement and prior to the Closing in respect of which a claim may be made under the Current Insurance Policies, Seller shall (i) file a claim in respect of such event or circumstance and (ii) have such claim paid prior to the Closing.
Purchaser further hereby acknowledges and agrees that no historic insurance coverage provided by or to any Seller, including the Current Insurance Policies, shall be available to Purchaser at any time, whether before or after Closing.
As of the date of this Agreement, unless otherwise noted on Schedule 3.15(a), to Seller’s knowledge, each of the Current Insurance Policies is in full force and effect, all premiums due and payable thereon have been paid in full and each Purchased Subsidiary and their Subsidiaries, as applicable, is in compliance in all material respects with the terms and conditions of such Current Insurance Policies.
Current Insurance Policies the policies summarised in schedule 11.
Purchaser further hereby acknowledges and agrees that no historic insurance coverage provided by or to Sellers, including the Current Insurance Policies, shall be available to Purchaser or Sellers after Closing, with the exception of insurance coverage required by statute or law and, in such limited instances only to the extent that the policies provide such historical coverage.
The insurance coverage provided by the Current Insurance Policies is in such amounts, with such deductibles, against such risks and losses, and provides such coverage any Purchased Subsidiary or any of their Subsidiaries have agreed to carry under any Material Contract to address its obligations under such Material Contract.
Each Security Provider must ensure that all aspects of the Current Insurance Policies are maintained.
Purchaser and CPEC further hereby acknowledge and agree that no historic insurance coverage provided by or to Vendor or its Affiliates, including the Current Insurance Policies, shall be available to Purchaser and CPEC after the Closing Time.
Purchaser acknowledges and agrees that (a) no insurance policies arranged for the benefit of or provided to Seller or any member of the Seller Group, including the Current Insurance Policies, shall continue after Closing and (b) the Purchaser shall not, and shall procure that no member of the Purchaser Group shall, make any claims under any such insurance policies or insurance coverage in respect of facts, events or circumstances arising prior to Closing.
Each of the Current Insurance Policies is in full force and effect and all premiums due and payable there under have been fully paid when due and each Current Insurance Policy will continue to be legal, valid, binding, enforceable, and in full force and effect on identical terms following the consummation of the transactions contemplated hereby or such other terms required by the applicable insurers.