Examples of SPF Manager in a sentence
The SPF Manager shall be entitled to seek reimbursement of any such costs and expenses from the relevant Firm.
The SPF Manager shall notify the Law Society within one (1) Working Day after issuing the ARP Coverage of the identity of the Firm in question and the fact that the Firm in question has been issued with an ARP Coverage.
Any other cover arranged by the SPF Manager pursuant to paragraph 2.13 or 2.14 shall be treated as incepting on the date on which the Firm becomes a Run-off Firm or a Defaulting Run-off Firm (as the case may be).
Any other coverage arranged by the SPF Manager pursuant to paragraph 2.12 shall be treated as incepting on the first day of the Indemnity Period to which it relates, or, if later, the first day on which the Firm ceased to hold Qualifying Insurance outside the ARP but for the avoidance of doubt, that fact shall not operate to permit any Firm receiving the benefit of such coverage to maintain that it has satisfied the provisions of the Regulations such as not to be in default thereunder.
The Insurer also agrees that a Defaulting Run-off Firm shall not be entitled to obtain Run-off Cover from the ROF but shall be entitled to cover arranged by the SPF Manager through the ROF under Regulation 6(a) of the Regulations.
The SPF, the ARP and the ROF shall be managed and administered by the SPF Manager.
The Insured shall report or notify any Claim or Circumstance required to be reported or notified pursuant to this contract to the SPF Manager (acting on behalf of the Insurer) as soon as is reasonably practicable after becoming aware of such a Claim or Circumstance.
The Firm shall provide to the SPF Manager such information as the SPF Manager may from time to time in its discretion reasonably require to deal efficiently and effectively with the Firm’s membership of the Run-Off Fund.
The Insured shall not be required against its wish to contest the issue of liability in any legal or arbitration proceedings arising from any Claim unless a solicitor or a member of the Irish Bar (as mutually agreed upon between the Insured and the SPF Manager (acting on behalf of the Insurer), or failing agreement, to be appointed by the Chairman of the Bar Council of Ireland) shall advise that such proceedings or arbitration should be contested.
In the event of such cancellation, the SPF manager shall honour and discharge any amount due and owing in respect of any claim or circumstance notified to the SPF Manager within the period from the commencement of the run-off cover until its cancellation by the SPF Manager pursuant but the SPF Manager shall be entitled to recover any amount so paid from the run-off firm or from those persons who were principals of the run-off firm immediately prior to the date it ceased practice.