Excluded Policy definition

Excluded Policy means any Policy which the Transferee and the Transferor agree prior to the Legal Effective Date should not be transferred;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Excluded Policy means a policy contemplated in paragraphs (a), (b), (c) and (d) of the definition “excluded policy” in Part 5A;

Excluded Policy means (i) any Policy pledged under the Loan Agreement for which no written acknowledgement of a collateral assignment was received by the Administrative Agent or the Securities Intermediary from the related Issuing Insurance Company within sixty (60) calendar days of the Advance Date as of which such Policy became a Pledged Policy, (ii) any Policy set forth on Eligibility Criteria Clause (a) Schedule to the Loan Agreement, (iii) any Policy pledged under the Loan Agreement in respect of which the Insurance Consultant is not authorized to, or is not accepted by the related Issuing Insurance Company to, communicate and receive verifications of coverage and obtain other information from such Issuing Insurance Company and (iv) any Policy set forth on Schedule 7.1(f) to the Loan Agreement. With respect to any Policy described in clause (i) of the immediately preceding sentence, if such written acknowledgement of a collateral assignment is received by the Administrative Agent or the Securities Intermediary after such date, such Policy shall cease to be an Excluded Policy on the date of such receipt. With respect to any Policy described in clause (ii) of the first sentence of this definition, such Policy shall cease to be an Excluded Policy on the date the Administrative Agent receives written confirmation from the Securities Intermediary that the Securities Intermediary is designated as the “owner” and “beneficiary” under such Policy by the related Issuing Insurance Company. With respect to any Policy described in clause (iii) of the first sentence of this definition, if the Insurance Consultant becomes authorized to, or becomes accepted by the related Issuing Insurance Company to, communicate and receive verifications of coverage and obtain other information from such Issuing Insurance Company, such Policy shall cease to be an Excluded Policy on the date of such authorization or acceptance. With respect to any Policy described in clause (iv) of the first sentence of this definition, such Policy shall cease to be an Excluded Policy on the date the Custodian receives an original or a copy from the related Issuing Insurance Company of such Policy.

Examples of Excluded Policy in a sentence

Within a reasonable period of time prior to effecting any Excluded Policy Change, the Ceding Company shall provide reasonably detailed notice to the Reinsurer describing the nature of such change and the reasons for making such change.
In the event of any such proceeding, the arbitration panel shall only be authorized to determine whether the disputed change is an Excluded Policy Change.
If the resolution of the dispute results in a determination that the change was not an Excluded Policy Change, the Parties will use the mechanism set forth in Section 2.3(b) to value the impact of the change.
Within five (5) Business Days following the Reinsurer’s receipt of notice of any (i) change made due to Exigent Circumstances, or (ii) change required by Applicable Law, a Governmental Authority or any Existing Reinsurance Agreement pursuant to Section 2.3(a)(iii), the Reinsurer shall provide written notice to the Ceding Company of any disagreement that such change was an Excluded Policy Change.
Each of PK and HGV, on behalf of itself and its Subsidiaries, disclaims any rights that it otherwise may have under the Excluded Policies and agrees not to submit any claim or to pursue any recovery under any Excluded Policy, it being understood that the Excluded Policies are for the sole benefit of HLT and/or other parties.

More Definitions of Excluded Policy

Excluded Policy has the meaning set forth in the Master Transaction Agreement.

Excluded Policy means a With-Profits Policy allocated to the UF OB Sub-fund immediately prior to the Calculation Date in respect of which, based on Royal London's best estimate assumptions applied as at the Calculation Date, the projected value of the benefits payable under the With-Profits Policy as at the expected date of claim is not expected to be increased by the application of the Uplift and the increase in the Premium Amounts (if applicable) under this Scheme;

Excluded Policy. ’ means a policy of assurance or contract for a deferred annuity on the life of any person where the policy is issued to or the contract is made with, as the case may be, a per- son who did not continuously reside outside the State throughout the period of 6 months com- mencing on the date of issue or the date of con- tract, as the case may be;

Excluded Policy has the meaning assigned to in Section 1(b) of Annex B to the Agreement.

Excluded Policy means (i) any Policy that is in a state of grace or lapse pending or in a similar state, or has lapsed, and (ii) so long as the Servicer is not Magna Servicing, any Policy pledged under this Agreement in respect of which the Servicer is not authorized to, or is not accepted by the related Issuing Insurance Company to, communicate and receive verifications of coverage and obtain other information from such Issuing Insurance Company. With respect to any Policy described under clause (i) of this definition, any such Policy shall cease to be an Excluded Policy on the date Borrower provides evidence to Administrative Agent that the Servicer shall have determined that such Policy is no longer in a state of grace or lapse pending in a similar state, or has lapsed. With respect to any Policy described in clause (ii) of this definition, if the Servicer becomes authorized to, or becomes accepted by the related Issuing Insurance Company to, communicate and receive verifications of coverage and obtain other information from such Issuing Insurance Company, such Policy shall cease to be an Excluded Policy on the date of such authorization or acceptance.