Transfer and novation definition

Transfer and novation means the transfer of insurance
Sample 1Sample 2Sample 3
Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to effect a novation of the transferred policies with the result that the assuming insurer becomes directly liable to the policyholders of the transferring insurer on the transferred policies and the transferring insurer's insurance obligations or risks, or both, under the transferred policies are extinguished.
Sample 1Sample 2Sample 3
Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to
Sample 1

Examples of Transfer and novation in a sentence

  • The SRALHK branch is the entity into which the long term and general reinsurance business of the SRZHK branch will be transferred in accordance with the proposed Scheme , the Section 25D Transfer and novation of the general reinsurance business.Following the restructuring, the SRALHK branch will be wholly owned by SRAL, which is in turn fully owned by SR Asia Holding, with Swiss Re Ltd being the ultimate parent with full control of SR Asia Holding.


More Definitions of Transfer and novation

Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from
Sample 1
Transfer and novation means the transfer of insurance obligations or risks, or both, of existing or in-force policies from a transferring insurer to an assuming insurer, and is intended to effect a novation of the transferred policies with the result that the assuming
Sample 1Sample 2
Transfer and novation means the transfer of insurance obligations, risks, rights, or
Sample 1

Related to Transfer and novation

  • Transfer Agreement means the agreement providing for a transfer of structured settlement payment rights.

  • IDR Transfer Agreement means an agreement to transfer, subject to the terms of Tariff, Part VI, section 237, Incremental Deliverability Rights to a party for the purpose of eliminating or reducing the need for Local or Network Upgrades that would otherwise have been the responsibility of the party receiving such rights. Immediate-need Reliability Project: “Immediate-need Reliability Project” shall have the same meaning provided in the Operating Agreement.

  • Technology Transfer Agreement has the meaning given in Section 2.2(e).

  • Novation Agreement means a legal instrument—

  • Use Agreement means the use agreement by and between the HDFC and HUD which commences on or before the Effective Date, runs with the land, binds all subsequent owners and creditors of the Exemption Area, and requires that the housing project on the Exemption Area continue to operate on terms at least as advantageous to existing and future tenants as the terms required by the original Section 202 loan agreement or any Section 8 rental assistance payments contract or any other rental housing assistance contract and all applicable federal regulations.

  • Transfer Any direct or indirect transfer or sale of any Ownership Interest in a Residual Certificate.

  • Reciprocal agreement means an agreement between this state and a higher education compact or 1 or more other states that allows participating colleges to provide distance education to residents of this state and other member states under this act.

  • Foundation Agreement means the agreement dated the 20th February 1985 made between the Trustee, the Manager, Xxxxxxxx, Genting WA and Tileska providing for the subscription of Units and Options;

  • Cooperation Agreement means that certain Mortgage Loan Cooperation Agreement, dated as of the Closing Date, among Borrower, Lender and Sponsor, as the same may from time to time be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

  • Reservation agreement means a written contract entered into between MBOH and the taxpayer to provide for a Reservation and setting forth the terms and conditions under which the taxpayer may obtain a Carryover Commitment or Final Allocation.

  • Implementation Agreement means the Implementation Agreement dated ……… by and between the GOB, PGCB and the Company in connection with the Project, and also includes any amendment of it made from time to time;

  • Data Use Agreement means the agreement incorporated into the Contract to facilitate creation, receipt, maintenance, use, disclosure or access to Confidential Information.