Replacement Policy definition

Replacement Policy means a policy offered or issued by Insurer on its own policy forms, to take effect upon the expiration or cancellation of a Removed Policy.

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Replacement Policy means a Policy issued to replace a Policy previously issued under the Plan.

Replacement Policy shall have the meaning specified in Section 4.3(a).

Examples of Replacement Policy in a sentence

• After the thirty-day period following an Assumption Date, but prior to the date on which they are renewed onto a Replacement Policy issued by the Insurer, any assumed policyholder that elects to return to CITIZENS may cancel their Policy with the Insurer, and may make application to CITIZENS for a new Policy, and shall be accepted for coverage by CITIZENS if otherwise eligible.

• The Insurer shall remove the Removed Policies by Assumption in accordance with this Agreement and the Assumption Procedures and shall offer to renew the Insurer’s Replacement Policy for a period of three (3) years subsequent to the expiration of the Removed Policy.

• During the aforenoted period, the Insurer’s renewals of the Replacement Policy shall be at the Insurer’s approved rates and on substantially similar terms or on such forms and rates as approved by the Office.

• Parent shall not take any action to terminate the D&O Replacement Policy or the D&O Tail Policy during such seven-year period, and any insurance obtained by Parent or the Surviving Corporation pursuant to this Section 5.10(c) shall not result in gaps in coverage.

• If such D&O Tail Policy is obtained, Parent shall not be obligated to obtain the D&O Replacement Policy.

More Definitions of Replacement Policy

Replacement Policy means a policy that a company issues to replace a voluntary policy for the purpose of ceding the insured to the facility or moving the insured to a higher rated company or tier.

Replacement Policy means any agents E&O policy, whether or not its terms, conditions and premiums are comparable to those offered by the INSURER.

Replacement Policy means a policy that a company issues to replace a voluntary policy for the purpose of ceding the insured to the facility.

Replacement Policy means a multiple premium policy which is an investment policy, where the policyholder is or was either the policyholder or the life insured in respect of any other investment policy, and where a replacement event occurs in respect of that other investment policy within a period of 4 months before or after the replacement policy is entered into;

Replacement Policy has the meaning set forth in Section 3.13 hereof.

Replacement Policy has the meaning set forth in Section 6.04(b). “Security Breach” has the meaning set forth in Section 3.05(g). “Software” has the meaning set forth in Section 3.26(h). “Standard Exceptions” has the meaning set forth in Section 3.10(b). “Stockholder Representative” has the meaning set forth in Section 6.06(b). “Subsequent CedarStone Financial Statements” has the meaning set forth in Section 5.11. “Subsidiary” when used with respect to any Person, means any corporation, partnership, limited liability company, bank, savings association, savings bank, or other organization, whether incorporated or unincorporated, or Person of which (i) such first Person directly or indirectly owns or controls at least a majority of the securities or other interests having by their terms ordinary voting power to elect a majority of the board of directors or others performing similar functions or (iii) such first Persons is or directly or indirectly has the power to appoint a general partner, manager, or managing member or others performing similar functions. “Superior Proposal” has the meaning set forth in Section 5.06(f). “Surviving Corporation” has the meaning set forth in Section 1.01. “Tax Claim” has the meaning set forth in Section 6.06(b). “Tax Proceeding” has the meaning set forth in Section 6.06(b). “TBCA” has the meaning set forth in Section 1.01. “TDR” has the meaning set forth in Section 3.11(a) “Terminated Contracts” has the meaning set forth in Section 5.21. “Transaction Litigation” has the meaning set forth in Section 6.04(e). “Termination Fee” has the meaning set forth in Section 8.02(a). “Unpermitted Exceptions” has the meaning set forth in Section 3.10(b). “VEBA” has the meaning set forth in Section 3.14(f). EXHIBIT 1.03 EXHIBIT 1.03 BANK MERGER AGREEMENT (See attached)

Replacement Policy or “Replacement Policies” has the meaning set forth in the recitals.