Qualifying Policy definition

Qualifying Policy means a financial guaranty insurance policy or similar financial guarantee pursuant to which a Reference Entity irrevocably guarantees or insures all Instrument Payments (as defined below) of an instrument that constitutes Borrowed Money (modified as set forth below) (the “Insured Instrument”) for which another party (including a special purpose entity or trust) is the obligor (the “Insured Obligor”). Qualifying Policies shall exclude any arrangement (i) structured as a surety bond, letter of credit or equivalent legal arrangement or (ii) pursuant to the express contractual terms of which the payment obligations of the Reference Entity can be discharged or reduced as a result of the occurrence or non-occurrence of any event or circumstance (other than the payment of Instrument Payments). The benefit of a Qualifying Policy must be capable of being delivered together with the delivery of the Insured Instrument.

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Qualifying Policy means a policy of insurance issued by Fremont Mutual and in force as of the close of business on the Eligibility Record Date.

Qualifying Policy means a financial guarantee insurance policy or similar financial guarantee pursuant to which a Reference Entity irrevocably guarantees or insures all Instrument Payments of an instrument that constitutes Borrowed Money (modified as set forth below) (the "Insured Instrument") for which another party (including a special purpose entity or trust) is the obligor (the "Insured Obligor"). Qualifying Policies shall exclude any arrangement (i) structured as a surety

Examples of Qualifying Policy in a sentence

G.4.5 The power of the Trustee to purchase or transfer a Qualifying Policy under this clause G.4 does not (unless it is made pursuant to clause G.4.3) apply to a Member who may exercise the option conferred by s95(2) 1993 Act except to the extent that the payment to be made to the Insurance Company pursuant to this clause G.4 exceeds the cash equivalent to which the Member has acquired a right under Chapter IV Part IV 1993 Act.
G.4.1 The Trustee may, if a Member ceases to be in Pensionable Service and subject to the remaining provisions of this clause G.4, purchase or provide in the name of the Member or a trustee for the benefit of such Member (and, if appropriate, the Member’s dependants), or transfer to such Member or trustee, a Qualifying Policy which provides benefits in lieu of the benefits which have accrued to or in respect of the Member under the Plan.
G.4.6 Where a Qualifying Policy has been purchased or transferred in accordance with this clause G.4 the Trustee shall be discharged from any obligation to provide benefits to which the Qualifying Policy relates.
For a Qualifying Policy issued after the Statement Date but before the Adoption Date, the AC was calculated as the present value as of the Statement Date of its expected future contributions to the surplus of the Company.
The Trustee may transfer, on the terms set out in clause H.5.2 and on such other terms as it determines, all or such part or parts of the Fund as it shall at its absolute discretion think fit, to the trustee or administrators of one or more Retirement Benefits Schemes and/or Personal Pension Schemes or may purchase (in accordance with clause G.4) a Qualifying Policy in respect of any Member of any Section.

More Definitions of Qualifying Policy

Qualifying Policy means a policy of insurance issued by PIPE, PCA or PPIX and in force as of the close of business on the Eligibility Record Date.

Qualifying Policy means any obligation, contingent or otherwise, of a Reference Entity guaranteeing or having the economic effect of guaranteeing any Borrowed Money obligation or other obligation (a "Insured Instrument") of any other person or entity (the "Insured Obligor") in any manner, whether directly or indirectly, and including, without limitation, any obligation of the Reference Entity, directly or indirectly, (i) to purchase or pay (or advance or supply funds for the purpose or payment of) such Borrowed Money obligations or other obligation or to purchase (or advance or supply funds for the purchase of) any security for the payment thereof, (ii) to purchase or lease property, securities or services for the purpose of assuring the owner of such Borrowed Money obligations or other obligation of the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity of the Insured Obligor so at to enable the Insured Obligor to pay such Borrowed Money obligations or other obligation, (iv) as an account party in respect of any letter of credit or letter of guarantee issued to support such Borrowed Money obligations or other obligation and (v) as an issuer of any surety bond, financial guaranty insurance policy or other instrument (whether or not a contract of insurance) operating or intended to operate as credit enhancement or credit protection in relation to any Borrowed Money obligations or other obligations of an Insured Obligor provided that the term Qualifying Policy shall not include endorsements for collection or deposits in the ordinary course of business.

Qualifying Policy means a policy of insurance issued by Fidelity Life and in force as of the close of business on the Eligibility Record Date. For the avoidance of doubt, a reinsurance agreement to which Fidelity Life is a party is not a Qualifying Policy.

Qualifying Policy means a financial guaranty insurance policy or similar financial guarantee pursuant to which a Reference Entity irrevocably guarantees or insures all

Qualifying Policy means a financial guaranty insurance policy or similar financial guarantee pursuant to which a Reference Entity irrevocably guarantees or insures all Instrument Payments of an instrument that constitutes Borrowed Money (modified as set forth in “Description of the Notes — Monoline Insurer as Reference Entity”) (the “Insured Instrument”) for which another party (including a special purpose entity or