Runoff Policy definition

Runoff Policy means the certain director & officer liability insurance policies and the related runoff period coverage purchased prior to the Petition Date by the Debtor from Old Republic Insurance Company (Policy No. ORPRO 38799); XL Specialty Insurance Company (Policy No. ELU146290-16); Argonaut Insurance Company (Policy No. MLX 7600656-03); Berkley Insurance Company (Policy No. BPRO8022729); Hudson Insurance Company (Policy No. HN-0303-3641-092716); and RLI Insurance Company (Policy No. EPG0500271).
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Runoff Policy has the meaning set forth in the definition of “Runoff Coverage”.
Sample 1Sample 2
Runoff Policy means that certain director & officer insurance policy purchased prior to the Petition Date by the Debtor.
Sample 1

Examples of Runoff Policy in a sentence

  • The period of cover provided by the ARP Run-off Policy shall be as determined under Rule 13.5.

  • ARP Run-off Policy means a contract of professional indemnity insurance issued by the ARP Manager on behalf of Qualifying Insurers to a Run-off Firm in the Assigned Risks Pool.

  • Observation includes project meetings, observing construction activities, preparing observation reports, documentation, coordinating testing, and punch- list/final inspections.

  • To the extent any insurance policy under which the insurer has a continuing obligation to pay the Debtor or a third party on behalf of the Debtor is held by the Bankruptcy Court to be an Executory Contract, such insurance policy (other than the Runoff Policy) will be treated as though it is an Executory Contract that is assumed by the Reorganized Debtor pursuant to section 365 of the Bankruptcy Code and Sections 7.1 and 7.3 of the Plan.

  • If an Insured Firm is issued with an ARP Run-off Policy, run-off cover shall be provided through the ARP, which shall indemnify each Insured in accordance with clauses 1.1 to 1.8 of the ARP Policy set out in Part 1 of Schedule 2, (but subject to the limits, exclusions and conditions of the ARP Policy).

  • In the event the Altria/Kraft Fiduciary Liability Runoff Policy coverage limit is reduced to less than $40 million as the result of payments of claims or claims expense on behalf of the PMI Group, PMI will indemnify Altria for the cost to reinstate the coverage with limits no less than $40 million.

  • At the Distribution Date, the coverage limits under the Altria/Kraft Fiduciary Liability Runoff Policy were $75 million for non-indemnifiable acts.

  • Transferee agrees that it shall cause the Company to assign to Transferor all benefits of the insurance under the Predecessor Policies and the Runoff Policy to the extent such benefits are actually received for the directors and officers liability claims for which Transferor has agreed to indemnify the Company pursuant to this Section 5(d).

  • The period of cover provided by the ARP Run-off Policy shall be as determined under Rule 13.5. Part 3 Excess Indemnity If cover is provided through the ARP jointly with other Qualifying Insurers on an excess of loss basis, and the ARP is writing one of the excess layers, the terms of the ARP Policy shall be as set out in Part 1 of Schedule 2, but subject to the following terms: 1 Clause 3 shall not apply in relation to the excess layer.

  • The period of cover provided by the ARP Run-off Policy shall be as determined under rule 29.3.

Related to Runoff Policy

  • Tariff Policy means a Tariff Policy adopted by the Council in terms of Section 74 of the Local Government: Municipal Systems Act 32 of 2000.

  • R&W Policy means those certain buyer-side representations and warranties insurance policies purchased by Buyer in connection with this Agreement.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Statement of policy means the summary explanation of information and facility policies

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Consensus Policies are those policies established (1) pursuant to the procedure set forth in ICANN’s Bylaws and due process, and (2) covering those topics listed in Section 1.2 of this Specification. The Consensus Policy development process and procedure set forth in ICANN’s Bylaws may be revised from time to time in accordance with the process set forth therein.

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Risk Management Policy means the Risk Management Policy of the Borrower in effect on the date of this Agreement as amended from time to time.

  • City Policies means any or all (as the context requires) of those procedures, standards and/or standard specifications, requirements, policies and the like listed in Schedule H or notified to the Supplier from time to time, as the same may be updated, modified, expanded, revised, supplemented and/or replaced from time to time by the City (as notified to the Supplier);

  • Procurement Policy means ADB’s Procurement Policy - Goods, Works, Nonconsulting and Consulting Services (2017, as amended from time to time);

  • Business Travel Policy means our business travel policy. A copy of our current Business Travel Policy is attached as Schedule 1 to Exhibit B.

  • Commissioner of Police means the person holding or acting in the office of Commissioner of Police under the Police Act 1892;

  • Master Policy means a single worker’s compensation insurance policy issued by an insurer authorized to do business in this state to an employee leasing company in the name of the employee leasing company that covers more than one client of the employee leasing company.

  • Board Policy means any and all policies adopted by the School Board and in effect at the time the RFP is published and as they may be amended from time to time (“Board Policy”). All Board Policies are incorporated by reference into this Solicitation and into all Proposals submitted by a Proposer.

  • Investment Policy means the investment policy from time to time determined by the Commission under the Rules;

  • Investment Policies means the investment objectives, policies, restrictions and limitations set forth in the “BUSINESS” section of its Registration Statement, and as the same may be changed, altered, expanded, amended, modified, terminated or restated from time to time.

  • Safeguard Policy Statement or “SPS” means ADB's Safeguard Policy Statement (2009);

  • Tail Policy has the meaning set forth in Section 6.18(b).

  • Insider Trading Regulations means the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time.

  • Policy means Related Party Transaction Policy.

  • New Jersey Stormwater Best Management Practices (BMP) Manual or “BMP Manual” means the manual maintained by the Department providing, in part, design specifications, removal rates, calculation methods, and soil testing procedures approved by the Department as being capable of contributing to the achievement of the stormwater management standards specified in this chapter. The BMP Manual is periodically amended by the Department as necessary to provide design specifications on additional best management practices and new information on already included practices reflecting the best available current information regarding the particular practice and the Department’s determination as to the ability of that best management practice to contribute to compliance with the standards contained in this chapter. Alternative stormwater management measures, removal rates, or calculation methods may be utilized, subject to any limitations specified in this chapter, provided the design engineer demonstrates to the municipality, in accordance with Section IV.F. of this ordinance and N.J.A.C. 7:8-5.2(g), that the proposed measure and its design will contribute to achievement of the design and performance standards established by this chapter.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Budget-related Policy means a policy of a municipality affecting or affected by the annual budget of the municipality, including-

  • Portability means transfer by an individual health insurance policyholder (including family cover) of the credit gained for pre-existing conditions and time-bound exclusions if he/she chooses to switch from one insurer to another.

  • Insurance Administration means, with respect to each Shared Policy, the accounting for premiums, retrospectively-rated premiums, defense costs, indemnity payments, deductibles and retentions, as appropriate, under the terms and conditions of each of the Shared Policies; and the reporting to excess insurance carriers of any losses or claims which may cause the per-occurrence, per claim or aggregate limits of any Shared Policy to be exceeded, and the distribution of Insurance Proceeds as contemplated by this Agreement.