Residual Policies definition

Residual Policies means any policy of the Transferor comprised in the Data under which any liability remains unsatisfied or outstanding at the Effective Date:

Residual Policies means Policies comprised in the Phoenix Policies under which any liability remains unsatisfied or outstanding at the Transfer Date:

Residual Policies means any Transferring Policies which do not transfer from the Transferor to the Transferee on the Scheme Effective Date;

Examples of Residual Policies in a sentence

• Any Residual Policy which is not subsequently transferred will become an Excluded Policy if the Residual Policies Reinsurance Arrangement is terminated.

• ReAssure shall procure that one-ninth of the cost of bonus on With-Profits Policies or Residual Policies which are With-Profits Policies from time to time allocated to the Guardian Assurance With-Profits Fund shall be transferred from the Guardian Assurance With-Profits Fund to the ReAssure Non-Profit Fund or any other fund of ReAssure as the ReAssure Board may from time to time determine.

• The Parties agree that the consideration, the sufficiency of which is hereby acknowledged by the Parties, for the transfer of the Transferring Assets, the Residual Policies and the Residual Assets to the Transferee shall be the assumption by the Transferee of the Transferring Liabilities and of such Liabilities under Residual Policies and such Residual Liabilities as are transferred to the Transferee on their respective Subsequent Transfer Dates.

• The Residual Policies shall, pending their transfer to the Transferee (whether pursuant to this Scheme of Transfer or otherwise) remain Policies of the Transferor.

• The Excluded Policies shall remain Policies of the Transferor and shall not (unless they become Residual Policies) transfer to the Transferee.

More Definitions of Residual Policies

Residual Policies means those Transferring Policies which do not transfer to the Transferee pursuant to the Order as at the Effective Date for any reason whatsoever and which are not otherwise transferred, including a Transferring Policy in respect of which:

Residual Policies means Policies listed in the Data under which any liability remains unsatisfied or outstanding at the Effective Date:

Residual Policies means any Transferring Policies comprised in the Transferring Business (other than Excluded Policies) in respect of which:

Residual Policies means the policies relating to the Residual Contracts;

Residual Policies means those Transferring Policies which do not transfer to the Transferee pursuant to the Order, or are alleged not to transfer to the Transferee pursuant to the Order, as at the Effective Date for any reason whatsoever and which are not otherwise transferred, including a Transferring Policy in respect of which:

Residual Policies means (i) any North and West Europe Insurance Policies which correspond to any facilities agreements, indemnity agreements or collateral agreements which constitute Residual Transferring Contracts which do not transfer from the Transferor to the Transferee on the Scheme Effective Date or (ii) any Specified Reinsurance Contracts which do not transfer from the Transferor to the Transferee on the Scheme Effective Date;

Residual Policies means Policies comprised in the NPLL Policies, the PLL Policies and the PLA Policies under which any liability remains unsatisfied or outstanding at the Transfer Date: