Examples of W&I Policy in a sentence
Notwithstanding the foregoing, all rights and claims under the W&I Policy are subject to the terms and conditions thereof and are not subject to the limitations set forth in this Section 9.1(b).
The Buyer shall only be entitled to seek recovery of its damages and compensation from the Sellers in respect of any Title Warranty Claim for any amounts not recovered under the W&I Policy and excluding the amount of any deductible or excess under the W&I Policy.
Under the terms of the Excess Policies, the Excess Insurers each provide additional coverage excess of the W&I Policy and any underlying Excess Policies, such that the cumulative maximum aggregate cover under the W&I Policy and the Excess Policies is £375 million.
The W&I Policy includes certain customary exclusions for a policy of this nature, including, among other things, general exclusions for any losses caused by or arising out of: (i) inadequacy of regulatory capital;(ii) financial mis-selling; (iii) cyber breaches; (iv) secondary tax liabilities; (v) non-availability of tax assets;(vi) transfer pricing liabilities; and (vii) breaches of sanctions legislation.
The coverage under each of the Excess Policies is provided in accordance with the terms and conditions of the W&I Policy, subject to certain exceptions, including that: (i) the W&I Retention is only applicable to the W&I Policy and no separate retention applies under any of the Excess Policies; and (ii) the coverage under the Excess Policies attaches only after the W&I Policy and any underlying Excess Policies have been exhausted.