Policy Assets definition

Policy Assets has the meaning set forth in Section 10.5.
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Policy Assets. The Policies, the Agency Agreement to the extent that it relates to the Policies, the Documentation, Policy Proceeds, and any supplementary contracts and documents executed in connection with the Policies, and all claims, options, privileges, benefits, refunds, cash values, dividends, rights, title and interest in the Policies, including, without limitation, all payments received on or with respect to the Policies and the right to collect from the related Obligor the net proceeds thereof upon the death of the Insured or other maturity and the right to surrender any such Policy for the surrender value thereof, and all proceeds of the foregoing (including, but not by way of limitation, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any and every kind, and other forms of obligations and receivables which at any time constitute all or part or are included in the proceeds of any of the foregoing).
Sample 1
Policy Assets means all of the retrospective premium receivables, deductibles and ceded reinsurance on gross losses paid by Westport, amounts recoverable from third parties (subrogation), second injury funds and any other amounts collectible from state reinsurance plans associated with the Subject Portfolio and all collateral, letters of credit, indemnity agreements and other security for the obligations of policyholders under the Subject Portfolio.
Sample 1

Examples of Policy Assets in a sentence

  • The Lessee is not permitted to dismantle or remove said fixtures, installations or improvements whether they were initially authorized by the Lessor or not, without the permission of the latter.

  • The assets comprising such Adjusting Transfer Amount shall consist of (i) bonds having an NAIC designation of 1, (ii) accrued investment income attributable to said bonds, (iii) Policy Assets attributable to the Policies (that is, an adjustment, up or down, of such Policy Assets to bring the Policy Assets component of the Closing Transfer Amount in line with the actual Policy Assets attributable to the Policies at December 31, 1997,) and/or cash.

  • PWCC, the Indenture Trustee and the Issuer are parties to that certain Amended and Restated Indenture pursuant to which the Issuer previously issued its Notes secured by the Policy Assets.

  • The Issuer shall treat (i) the issuance -------------------------- of the Notes as indebtedness of the Issuer, and (ii) the Policy Assets as assets of the Issuer, for purposes of Taxes imposed upon the Issuer.

  • The "Closing Net Transfer Amount" shall be the amount shown on Schedule 4.1 attached hereto, using estimated Reserves and Policy Assets.

  • However, since the Reserves and Policy Assets as of December 31, 1997, will not be determined prior to the Closing Date, the parties agree that, to effect the Closing, the Company shall transfer to Reinsurer at Closing an amount equal to the "Closing Net Transfer Amount" (defined in the next sentence).

  • The composition of the assets so transferred shall be cash plus the Policy Assets as of October 31, 1998.

  • The composition of the assets so transferred shall include the Policy Assets as of December 31, 1997.

  • The December 31, 1997, Reserves and Policy Assets shall be determined as set forth in Section 10.5. Using the format of Schedule 4.3, the parties shall calculate the amount that should have been transferred at Closing if the amount of the Reserves and Policy Assets as of December 31, 1997, had been known at Closing.

  • In connection with the Issuer's acquisition of the Policy Assets, prior to the Closing Date and prior to each related Acquisition Date, PWCC, on behalf of the Issuer, shall deliver the Policies and the related Documentation to the Indenture Trustee (or Bankers Trust, California, as agent for the Indenture Trustee), whereupon the Indenture Trustee shall retain possession thereof as agent for the Issuer and as Indenture Trustee.

Related to Policy Assets

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Receivables Facility Assets means currently existing and hereafter arising or originated Accounts, Payment Intangibles and Chattel Paper (as each such term is defined in the UCC) owed or payable to any Participating Receivables Grantor, and to the extent related to or supporting any Accounts, Chattel Paper or Payment Intangibles, or constituting a receivable, all General Intangibles (as each such term is defined in the UCC) and other forms of obligations and receivables owed or payable to any Participating Receivables Grantor, including the right to payment of any interest, finance charges, late payment fees or other charges with respect thereto (the foregoing, collectively, being “receivables”), all of such Participating Receivables Grantor’s rights as an unpaid vendor (including rights in any goods the sale of which gave rise to any receivables), all security interests or liens and property subject to such security interests or liens from time to time purporting to secure payment of any receivables or other items described in this definition, all guarantees, letters of credit, security agreements, insurance and other agreements or arrangements from time to time supporting or securing payment of any receivables or other items described in this definition, all customer deposits with respect thereto, all rights under any contracts giving rise to or evidencing any receivables or other items described in this definition, and all documents, books, records and information (including computer programs, tapes, disks, data processing software and related property and rights) relating to any receivables or other items described in this definition or to any obligor with respect thereto and any other assets customarily transferred together with receivables in connection with a non-recourse accounts receivable factoring arrangement and which are sold, conveyed assigned or otherwise transferred or pledge in connection with a Permitted Receivables Financing, and all proceeds of the foregoing.

  • Security Assets means all assets of the Chargor the subject of any security created by this Deed.

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Real Property Assets means, as of any time, the real property assets (including interests in participating mortgages in which the Borrower’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by the Borrower, EQR and the Consolidated Subsidiaries of either or both at such time.

  • Company Assets means all assets and property, whether tangible or intangible and whether real, personal or mixed, at any time owned by the Company.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Assets includes present and future properties, revenues and rights of every description;

  • Regulatory assets means the unamortized net regulatory assets that are capitalized or deferred on the regulatory books of the electric utility, pursuant to an order or practice of the public utilities commission or pursuant to generally accepted accounting principles as a result of a prior commission rate-making decision, and that would otherwise have been charged to expense as incurred or would not have been capitalized or otherwise deferred for future regulatory consideration absent commission action. "Regulatory assets" includes, but is not limited to, all deferred demand-side management costs; all deferred percentage of income payment plan arrears; post-in-service capitalized charges and assets recognized in connection with statement of financial accounting standards no. 109 (receivables from customers for income taxes); future nuclear decommissioning costs and fuel disposal costs as those costs have been determined by the commission in the electric utility's most recent rate or accounting application proceeding addressing such costs; the undepreciated costs of safety and radiation control equipment on nuclear generating plants owned or leased by an electric utility; and fuel costs currently deferred pursuant to the terms of one or more settlement agreements approved by the commission.

  • Program Assets means any assets, goods or property (real, tangible or intangible) purchased or financed in whole or in part (directly or indirectly) by MCC Funding.

  • Permitted Receivables Facility Assets means (i) Receivables (whether now existing or arising in the future) of the Company and its Subsidiaries which are transferred or pledged to the Receivables Entity pursuant to the Permitted Receivables Facility and any related Permitted Receivables Related Assets which are also so transferred or pledged to the Receivables Entity and all proceeds thereof and (ii) loans to the Company and its Subsidiaries secured by Receivables (whether now existing or arising in the future) and any Permitted Receivables Related Assets of the Borrower and its Subsidiaries which are made pursuant to the Permitted Receivables Facility.

  • Designated Assets means any property or assets (including Capital Stock of any Subsidiary) of Holdings, the Restricted Parent, the Issuer and their respective Restricted Subsidiaries constituting a business, a line or unit of a business or used in operating a business substantially as an entirety.

  • Fixed Assets means the Equipment and Real Estate of the Borrower.

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.

  • passenger vehicle means a motor vehicle (other than a motor cycle or invalid carriage) constructed solely for the carriage of passengers and their effects and adapted to carry not more than twelve passengers exclusive of the driver, and not drawing a trailer;

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • Collateral Portfolio means all right, title, and interest (whether now owned or hereafter acquired or arising, and wherever located) of the Borrower in the property identified below in clauses (i) through (iv) and all accounts, cash and currency, chattel paper, tangible chattel paper, electronic chattel paper, copyrights, copyright licenses, equipment, fixtures, contract rights, general intangibles, instruments, certificates of deposit, certificated securities, uncertificated securities, financial assets, securities entitlements, commercial tort claims, deposit accounts, inventory, investment property, letter-of-credit rights, software, supporting obligations, accessions, or other property consisting of, arising out of, or related to any of the following (in each case excluding the Retained Interest and the Excluded Amounts):

  • Receivables and Related Assets means any account receivable (whether now existing or arising thereafter) of the Company or any Restricted Subsidiary of the Company, and any assets related thereto including all collateral securing such accounts receivable, all contracts and contract rights and all Guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transaction involving accounts receivable.

  • Fund Assets means the net assets of the Fund managed by the Subadviser for which the fee is being calculated;

  • depreciable asset means any tangible personal property or structural improvement to real property that—

  • Company Intellectual Property Assets means all Intellectual Property Assets owned by the Company or used or held for use by the Company in the Business and all Products.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Subject Vehicle means the vehicle being tested.