Examples of Successor Practice in a sentence
Prior Practice means each practice to which the Firm’s Practice is ultimately a Successor Practice by way of one or more mergers, acquisitions, absorptions or other transitions.
The insurance must provide that, if there is a dispute as to whether a practice is a Successor Practice for the purposes of clauses 1.4, 1.6 or 5.3, the Insured and the Insurer will take all reasonable steps (including, if appropriate, referring the dispute to arbitration) to resolve the dispute in conjunction with any related dispute between any other party which has insurance complying with these minimum terms and conditions and that party’s insurer.
If there is a dispute as to whether a Practice is a Successor Practice for the purposes of clauses 1.4, 1.6 or 5.3, the Insured and the Insurer will take all reasonable steps (including, if appropriate, referring the dispute to arbitration) to resolve the dispute in conjunction with any related dispute between any other party which has insurance complying with the Minimum Terms and Conditions and that party’s insurer.
Run-off cover is not provided under clause 5.1 if there is a Successor Practice to the ceased Practice, provided that there is insurance complying with the Minimum Terms and Conditions in relation to that Successor Practice.
The insurance must provide that run-off cover is not activated if there is a Successor Practice to the ceased practice, provided that there is insurance complying with these minimum terms and conditions in relation to that Successor Practice.
The insurance must provide that, if there is a dispute as to whether a Practice is a Successor Practice for the purposes of clauses 1.4, 1.6 or 5.3, the Insured and the Insurer will take all reasonable steps (including, if appropriate, referring the dispute to arbitration) to resolve the dispute in conjunction with any related dispute between any other party which has insurance complying with these minimum terms and conditions and that party’s insurer.
Please enter the details of all Prior Practices and/or individual Partners/Members where you are deemed or asserted to be a Successor Practice in the table below.
If the Insured Firm’s Practice is succeeded during the Period of Insurance and, as a result, a situation of ‘double insurance’ exists between two or more insurers of the Successor Practice, contribution between insurers is to be determined in accordance with the relative numbers of Principals of the owners of the constituent Practices immediately prior to succession.
The insurance may provide that, if the Firm’s Practice is succeeded during the Period of Insurance and, as a result, a situation of ‘double insurance’ exists between two or more insurers of the Successor Practice, contribution between insurers is to be determined in accordance with the relative numbers of Principals of the owners of the constituent practices immediately prior to succession.
Run-off cover is not provided under clause 5.1 if there is a Successor Practice to the ceased practice, provided that there is insurance complying with the Minimum Terms and Conditions in relation to that Successor Practice.