Settling Insurer definition
Settling Insurer means the Persons listed as “Settling Insurers” on Exhibit L, to the extent of liabilities (or alleged liabilities) compromised in each respective settlement agreement between such Settling Insurer and a Protected Party, and Roger A. Sevigny, Insurance Commissioner of the State of New Hampshire, solely in his capacity as Liquidator, and any Non-Settling Insurer who enters into a final and binding Insurance Settlement Agreement with the Trust after the Effective Date, all in their capacity as such.
Settling Insurer means (a) if the Total Settlement Demand Amount is funded, any CGL Insurer that accepted its CGL Insurer Settlement Offer or (b) if the Partial Settlement Option is elected by the Debtor and the Survivors’ Committee, any CGL Insurer that is a Partial Settlement Option Accepted Party. A Settling Insurer’s predecessors, successors, and assigns shall receive the benefits and protections afforded to a Settling Insurer under the Plan, but only to the extent that: (i) such predecessor’s liability was assumed by the Settling Insurer, and not independent of the liability of such Settling Insurer; and (ii) such successor’s or assign’s liability is derivative of the liability of the Settling Insurer and not independent of the liability of the Settling Insurer. Pursuant and subject to the terms of this Plan, a CGL Insurer may become a Settling Insurer after the Effective Date of the Plan with the consent of the Settlement Trustee and upon approval of the Bankruptcy Court; provided, however, if any outstanding defense costs are owed by such CGL Insurer, the consent of the applicable owner of the CGL Insurance Policy must also be obtained unless such rights were transferred or assigned to the Trust.
Settling Insurer means: (a) each of those Insurers listed on Exhibit 2.110 to the Plan, as the same may be amended in accordance with this Plan; and (b) such Insurer’s predecessors, successors and assigns, but only to the extent that: (i) such predecessor’s liability was assumed by the Insurer listed on Exhibit 2.110 to the Plan, and (ii) such successor’s or assign’s liability is derivative of the liability of the Insurer listed on Exhibit 2.110 to the Plan and not independent of the liability of the Insurer listed on Exhibit 2.110 to the Plan. For purposes of defining the scope of the releases, injunctions, exculpation provision, and other provisions and protections provided to Settling Insurers herein, the terms “Settling Insurer,” “Released Parties,” and “Exculpated Parties” herein also include all past and present subsidiaries, parents, and affiliates, as well as all employees, officers, directors, shareholders, principals, parents, indirect parents, claims managers, agents, attorneys, and representatives, as well as the predecessors, successors, assignors, and assigns of each of the foregoing, in their capacity as such to the extent that their liability arises out of, or is related to, any Settling Insurer Policy. Pursuant and subject to Section 10.11 of the Plan, upon the sole consent of the Trustee, a Person or Entity may become a Settling Insurer after the Effective Date if the Bankruptcy Court approves an agreement between the Person or Entity and the Trustee pursuant to its retained jurisdiction. Upon the Bankruptcy Court’s entry of a Final Order approving such an agreement, Exhibit 2.110 will be amended by the Trustee to include such Person or Entity.
Examples of Settling Insurer in a sentence
The Trust shall be established for the purposes of assuming liability of Protected Parties and Settling Insurer Entities for Channeled Claims and receiving, liquidating, and distributing Trust Assets in accordance with this Plan and the Trust Distribution Plan.
Each Parish Settling Insurer and Seminary Settling Insurer shall pay to the Trust within thirty days of the Effective Date the amount required by its respective Insurance Settlement Agreement.
It is intended that the channeling of the Channeled Claims as provided in this Section 14.3 shall inure to the benefit of the Protected Parties and Settling Insurer Entities.
Each Parish Settling Insurer and Seminary Settling Insurer is only required to pay the amount required by its respective Insurance Settlement Agreement.
Nothing in the foregoing is intended to suggest that such other insurers have such a claim against any Settling Insurer Entities.
More Definitions of Settling Insurer
Settling Insurer means (a) each of those CGL Settling Insurers and the Twistars Settling Insurers listed on Exhibit C to the Plan (the “Exhibit C Insurers), as the same may be amended in accordance with this Plan; and (b) such Exhibit C Insurer’s predecessors, successors, and assigns, but only to the extent that: (i) such predecessor’s liability was assumed by the Exhibit C Insurer to the Plan, and not independent of the liability of the Exhibit C Insurer; and (ii) such successor’s or assign’s liability is derivative of the liability of the Exhibit C Insurer and not independent of the liability of the Exhibit C Insurer. Pursuant and subject to Section 11.6 of the Plan, a Person may become a Settling Insurer after the Effective Date with the consent of the Trustee and the Reorganized Debtor and upon approval of the Bankruptcy Court. If the addition of such Person is approved pursuant to a Final Order, Exhibit C will be deemed amended to include such Person.
Settling Insurer means each Asbestos Personal Injury Insurance Asset Entity listed on Exhibit I.A.14 (as the same may be amended, modified, or supplemented) that enters into a settlement prior to the conclusion of the Confirmation Hearing that is: (a) sufficiently comprehensive in the determination of the Debtors, the Asbestos Personal Injury Committee and the Asbestos Personal Injury Futures Representative to warrant treatment of such Asbestos Personal Injury Asset Entity as a Protected Party under section 524(g) of the Bankruptcy Code as to all or certain of the Asbestos Personal Injury Claims which are channeled to the Asbestos Personal Injury Trust; and (b) approved by the Bankruptcy Court.
Settling Insurer means the Archdiocesan Settling Insurers, the Parish Settling Insurers, the Seminary Settling Insurers and Roger A. Sevigny, Insurance Commissioner of the State of New Hampshire, solely in his capacity as Liquidator of the Home Insurance Company. For the avoidance of doubt, and notwithstanding anything else in the Plan, including any Exhibits, St. Katherine Insurance Company PLC (now known as Travelers Insurance Company Limited), each of its present parents, subsidiaries, affiliates, and divisions, and each of the foregoing Persons’ respective past and present parents, subsidiaries, and affiliates are Settling Insurers.
Settling Insurer means SpECTrum Insurer.
Settling Insurer means the Insurers listed on Exhibit K.
Settling Insurer means (a) Ecclesia and (b) any other Insurer that enters into a settlement, sale or other transaction with the Debtor, the Estate, or any successor thereto, that is approved pursuant to the Confirmation Order or separate order of the Bankruptcy Court, including any settlement, compromise, buyback or similar agreement concerning an Insurance Policy.
Settling Insurer means the Debtor’s CGL Insurers, the Karolyi Insurer, and the USOPC Insurers. A Settling Insurer’s predecessors, successors, and assigns shall receive the benefits and protections afforded to a Settling Insurer under the Plan, but only to the extent that: (i) such predecessor’s liability was assumed by the Settling Insurer, and not independent of the liability of such Settling Insurer; and (ii) such successor’s or assign’s liability is derivative of the liability of the Settling Insurer and not independent of the liability of the Settling Insurer.