Renewal Rights definition
Renewal Rights means rights to renew Service Agreement, Firm Service under Rate Schedule FT, Firm Transportation Service available to certain of Company’s current firm Shippers.
Renewal Rights means all the direct and indirect rights of St. Xxxx and its Subsidiaries to seek to renew reinsurance treaties, contracts and agreements underwritten by St. Xxxx Re and in force on the Closing Date relating to the Transferred Lines, other than treaties, contracts and agreements identified or described in SCHEDULE 2.01(g).
Renewal Rights means all of the Seller’ existing rights to offer, quote and/or solicit the renewals of any of the Insurance Contracts, including (i) the right to offer to cancel and rewrite any of the Insurance Contracts and to solicit replacement insurance coverage with no restriction as to geographical territory, and (ii) the relationships that the Seller enjoys with each of the Producers, subject in each case to all rights of Producers and Policyholders and Applicable Law.
Examples of Renewal Rights in a sentence
Failure to pay premium because of good faith differences in the accounting records of Managing General Agent and the Company will not be considered a failure to pay and will not give rise to a right to terminate or suspend the Expiration and Renewal Rights by the Company.
In the event the Managing General Agent is in material default of its obligations hereunder and does not cure such default as required by Section 14.3, the right to use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted.
Effective as of the Closing Date, and promptly after the delivery of the Firm Public Offering Shares against payment therefor, St. Xxxx shall cause to be delivered to the Company or its Subsidiaries the information in respect of Renewal Rights set forth in Schedule 2.02.
Expansion and Renewal Rights: The University will have certain rights to expand its leased area and to extend the term of the lease.
Additionally, OneBeacon will pay Liberty Mutual a ceding commission equal to 67% of certain underwriting expenses during the first twelve months of the Renewal Rights Agreement and 33% of such underwriting expenses during the following twelve months.
More Definitions of Renewal Rights
Renewal Rights means all of the Renewal Rights Sellers’ rights to offer, quote and solicit the renewals of the In-Force Policies, including the rights to solicit replacement insurance coverage upon expiration of the terms of such In-Force Policies.
Renewal Rights means (i) rights to renew the Reinsured Contracts upon the expiration or cancellation thereof, subject to applicable contractual relationships with non-affiliated companies, and (ii) the exclusive right to use the Books and Records relating to the Reinsured Contracts.
Renewal Rights has the meaning ascribed to such term in Section 1.2(a)(i).
Renewal Rights mean any Acquired Entity’s existing, if any, rights to renew or rewrite all in-force insurance contracts, policies, binders, riders, endorsements or extensions thereto brokered, placed, issued or written by such Acquired Entity that are for the Accounts, upon expiration, cancellation or anniversary thereof, to the extent such right does not infringe upon contractual rights of agents or brokers or otherwise violate any applicable Law.
Renewal Rights means Seller' rights from and after the Closing Date to renew or replace all Flood Policies comprising the Flood Book. For the avoidance of doubt, Buyer acknowledges and agrees that Seller does not have the power or ability to require any policyholder or producer of any policy included in the Flood Book to write or renew any such policy following the Closing Date, upon expiration or otherwise. (c) "Flood Book" shall mean (i) all of Seller' right, title and interest in the Flood Policies; (ii) a complete list of all such insurance policies, policy type, coverage level, premium amount, expiration date for each of the Flood Policies, which shall be specifically contained within an Excel spreadsheet attached hereto as Schedule 1(a); and (iii) all business data available with National Flood Services pertaining to the Flood Book, which shall be provided by Seller to Buyer upon execution of this Agreement.
Renewal Rights means Seller’s existing rights to (a) renew the Insurance Policies upon the expiration or cancellation thereof, and (b) offer, quote and solicit renewals of and replacement coverages for the Insurance Policies, subject in each case to all rights of Producers and Policyholders and Applicable Law. “Renewal Rights Commission” has the meaning specified in Section 2.4(a). “Representatives” means, with respect to any Person, the directors, officers, employees, partners, agents, contractors or advisors (including attorneys, accountants, consultants, bankers and financial advisors) of such Person. “Reserves” has the meaning specified in Section 3.6. “Restricted Person” has the meaning specified in Section 7.9. “Seller” has the meaning specified in the preamble hereto. “Seller Disclosure Schedule” has the meaning specified in Article III. “Seller Fundamental Representations” has the meaning specified in Section 8.2(e). “Seller Indemnified Parties” has the meaning specified in Section 9.2. “Seller Parent” has the meaning specified in the preamble hereto. “Seller Privacy Policies” means the privacy policies of Seller, a copy of which has been made available to Purchaser. “Southeast Homeowners Lines” means the following lines of property and casualty insurance written by Seller within the Territory: (a) personal homeowners, (b) renters, (c) landlord and condominium / co-op insurance, (d) dwelling fire, (e) allied lines, (f) federal flood, (g) inland marine, (h) earthquake, (i) group accident and health and (j) general liability. “Statutory Financial Statements” has the meaning specified in Section 3.5(a). “Taxes” means any and all federal, state, local, or foreign income, premium, property (real or personal), sales, excise, employment, payroll, withholding, gross receipts, license, severance, stamp, occupation, windfall profits, environmental, customs duties, capital stock, franchise, profits, social security (or similar, including FICA), unemployment, disability, use, transfer, registration, value-added, alternative or add-on minimum, estimated, or other tax of any kind or any charge of any kind in the nature of (or similar to) taxes whatsoever, including any interest, penalty, or addition imposed in connection with the payment, reporting or disclosure thereof; provided, that, for the avoidance of doubt, “Taxes” shall not include any guaranty fund assessment, or escheatment or similar Liabilities.
Renewal Rights means the Sellers' rights to (i) renew the Reinsured Contracts upon the expiration or cancellation thereof (subject to the Purchaser's and its Affiliates' underwriting and pricing guidelines, the terms and conditions of their reinsurance contract forms, and their other requirements), (ii) solicit renewals of and replacement coverages for the Reinsured Contracts and (iii) replicate and use the products and contract forms used in the Business.