Examples of Fronting Arrangement in a sentence
Except as shown in the Company's most recently filed Statutory Insurance Statement and except for liabilities incurred in the ordinary course of business under the GAINSCO Fronting Arrangement or the Third Party Fronting Arrangements, as of the Closing Date, the Company will not directly or indirectly be liable upon, or obligated in any other way to provide funds in respect of, or to guarantee or assume, any debt, obligation or dividend of any person.
Each Bank agrees that it shall indemnify the Company and any Multicurrency Borrower for any additional costs or expenses incurred by the Company or any Multicurrency Borrower due to a Fronting Arrangement to which such Bank is a party.
All insurance-related liabilities of the Company existing as of the Closing (other than reserves for losses and loss adjustment expenses for claims incurred but not reported totaling $35,500 at June 30, 2002 that relate to a fronting program in runoff for Eastern Atlantic Insurance Company, which is reinsured 100% by unaffiliated reinsurers) shall pertain only to the Third Party Fronting Arrangements or the GAINSCO Fronting Arrangement.
Since the last date of the period covered by the Company's most recently filed Statutory Insurance Statement, the Company has not incurred any indebtedness, obligation or liability of any kind, whether absolute, accrued, contingent, known or unknown, other than such indebtedness, obligation or liability incurred in the ordinary course of business in connection with the GAINSCO Fronting Arrangement or the Third Party Fronting Arrangements.
Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $500,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments.