Insolvency protection definition

Insolvency protection means that you are guaranteed a refund if any of the booked travel services is not carried out due to XY becoming insolvent. XY has taken out insolvency protection with YZ (contact details -including name, geographical address, e-mail and phone number- of the body in charge of the insolvency protection, e.g. a guarantee fund or an insurance company). You may contact this body if the services you have booked are denied because of XY's insolvency.
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Examples of Insolvency protection in a sentence

  • Insolvency protection (Articles 17 and 19 and Recitals 38 to 44) The effectiveness of the protection scheme and discretion as to the way in which insolvency protection is to be arranged by Member States were key objectives of the Council.

  • Insolvency protection for package holidays became a requirement of EU law from 1992 through the Package Travel Directive (PTD).

  • Insolvency protection for subscribers consisting of, for example; financial bonds, third party guarantees, reinsurance deposits, automatic conversion rights, or other arrangements which are adequate to the satisfaction of the Board to provide for continuation of benefits until the end of the third month following the month in which insolvency is declared.

  • Material requiring State approval shall include but is not limited to: 2.3.1.2.1 Marketing plans and all related materials, 2.3.1.2.2 Complaint/Grievance Appeal procedures, 2.3.1.2.3 Insolvency protection, 2.3.1.2.4 Member Handbook, 2.3.1.2.5 PCP enrollment procedures, 2.3.1.2.6 QM procedures, 2.3.1.2.7 Insurance and bonding plans, 2.3.1.2.8 Fraud and abuse plan, and 2.3.1.2.9 Physician Incentive Plans.

  • Insolvency protection and information requirements for linked travel arrangements Annex III - Accommodation Article 1.

  • MLH will abide by the terms of the Privacy Notice and promptly revise the Privacy Notice if there is a material change to the uses and disclosures of protected health information.

  • See Article 17 Effectiveness and scope of insolvency protection, Article 18 Mutual recognition of insolvency protection and administrative cooperation, and Article 19 Insolvency protection and information requirements for linked travel arrangements, recitals 38-44.

  • These findings are supported by the satisfactory implementation by the JSIF of the already closed Inner Cities Basic Services for the Poor Project (P091299).

  • Sections 92 and 93 (Insolvency: protection of essential supplies) extend to England and Wales and Scotland.

  • The rubric for “severity” is subjective, and depends on both the system you are analyzing and the type of shock that has occurred.

Related to Insolvency protection

  • insolvency practitioner means any receiver, administrator or liquidator appointed in respect of the Tenant;

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Insolvency Act means the Insolvency Xxx 0000;

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • Insolvency Proceeds shall have the meaning set forth in Section 9.01(b).

  • Insolvency Laws The Bankruptcy Code and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments, or similar debtor relief laws from time to time in effect affecting the rights of creditors generally.

  • Insolvency Legislation means legislation in any applicable jurisdiction relating to reorganization, arrangement, compromise or re-adjustment of debt, dissolution or winding-up, or any similar legislation, and specifically includes for greater certainty the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) and the Winding-Up and Restructuring Act (Canada).

  • Insolvency Law means the Bankruptcy Code and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments and similar debtor relief laws from time to time in effect affecting the rights of creditors generally.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Insolvency Regulation means the Council Regulation (EC) No.1346/2000 29 May 2000 on Insolvency Proceedings.

  • Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.

  • Bankruptcy Code means the United States Bankruptcy Code, as amended from time to time, any successor statute or rule promulgated thereto.

  • Petition means a written request to the court for an order after notice.

  • Insolvency Filing means that a Share Issuer institutes, or has instituted against it by a court, regulator, supervisor, or any similar official with primary insolvency, rehabilitative, or regulatory jurisdiction over it in the jurisdiction of its incorporation or organization or the jurisdiction of its head or home office, or it consents to a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor, or similar official or it consents to such a petition, provided that proceedings instituted or petitions presented by creditors and not consented to by the Share Issuer shall not be deemed an Insolvency Filing.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Applicable Insolvency Laws means all Applicable Laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances or other similar laws (including, without limitation, 11 U.S.C. Sections 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code, as amended or supplemented).

  • U.S. Bankruptcy Code means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors.

  • Emergency procurement means an acquisition resulting from an emergency need.

  • Federal Bankruptcy Code means the Bankruptcy Act of Title 11 of the United States Code, as amended from time to time.

  • Liquidation Process Regulations means, the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 2016 as amended from time to time;

  • Financial Insolvency means, with respect to any Named Entity covered under any Coverage Part designated as “included” in the Declarations attached hereto:

  • EU Insolvency Regulation means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

  • Bankruptcy Laws has the meaning specified in Section 10.9.

  • Federal Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.