Policy Obligations definition

Policy Obligations means benefits under and by virtue of the terms of the Policies that arise and become payable on account of a death or other event covered by the terms of the Policies occurring on or after the Effective Date, and as further defined in Section 2.2.
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Policy Obligations has the meaning specified in the Intercreditor Agreement.
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Policy Obligations. Consultant’s indemnity and other obligations shall not be limited by the foregoing insurance and license requirements.
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Examples of Policy Obligations in a sentence

  • The Reinsurer's liability in respect to the Policy Obligations will terminate simultaneously with the Company's liability, except as otherwise provided herein.

  • Concurrently with the Effective Date of this Agreement, Reinsurer and the Company have entered into a "Policy Administration and Data Processing Services 3 Agreement," attached hereto as Exhibit 3.1 ("Administration Agreement.") Beginning on the Effective Date, Reinsurer shall be liable for the payment of the Reinsurer's Portion of the Policy Obligations.

  • Reinsurer shall be liable for any and all claims and other Policy benefits falling within the scope of the Policy Obligations that become due and payable on and following the Effective Date, and for any and all claims based on Reinsurer's role as administrator pursuant to the Administrative Service Agreement.

  • By this Agreement the type of reinsurance in place means that the Policies remain in the name of the Company and the Policy Obligations are transferred to the Reinsurer (typically referred to as "coinsurance").

  • The Company, in its capacity as administrator of the Policies, shall receive and administer premiums and other payments with respect to the Polices received by the Company, shall pay all Policy Obligations, and shall account for any and all such collected premiums and payments as of the end of each calendar month.

  • By this Agreement the type of reinsurance in place means that the Policies remain in the name of the Company and the Policy Obligations are transferred to Reinsurer (typically referred to as "coinsurance").

  • Subject to the terms and conditions of this Agreement, the Company hereby cedes to the Reinsurer and the Reinsurer hereby reinsures one hundred percent (100%) of the Policy Obligations.

  • The Reinsurer's liability in respect to the Policy Obligations will begin simultaneously with the Company's liability, but not prior to the Effective Date of this Agreement.

  • The Reinsurer shall be liable for any and all claims and other Policy benefits falling within the scope of the Policy Obligations that become due and payable after the Effective Date.

  • Except as otherwise provided in this Agreement, Reinsurer shall pay benefits falling within the scope of the Reinsured Policy Obligations directly to the policyholders or other designated beneficiaries of the Transferred Policies in accordance with the terms of such policies.


More Definitions of Policy Obligations

Policy Obligations means the policy obligations of any Group Insurance Entity. means claims of policyholders in a winding-up of a Group Insurance Entity to the extent that those claims relate to any amounts to which the Group Insurance Entity is, or may become, liable to a Policy Holder pursuant to a contract of insurance, including all amounts to which Policy Holders are entitled under applicable legislation or rules relating to the winding-up or administration of insurance companies to reflect any right to receive, or expectation of receiving, benefits which such Policy Holders may have.
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Related to Policy Obligations

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Financial Instrument Obligations means obligations arising under:

  • Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).

  • Contingent Obligations means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent: