Xxxx Policies definition
Examples of Xxxx Policies in a sentence
Subject to the other provisions of this Section 5, the retention by Xxxx of the Xxxx Policies and the responsibility for claims administration and financial administration of such policies are in no way intended to limit, inhibit or preclude any right of TCM, Xxxx or any other insured to insurance coverage for any insured claims under the Xxxx Policies.
Upon notification by TCM or one of its Subsidiaries of a claim relating to TCM or one of its Subsidiaries under one or more of the Xxxx Policies, Xxxx shall cooperate with TCM in asserting and pursuing coverage and payment for such claim by the appropriate insurance carrier(s).
If the product aggregates in the Company Policies or the Xxxx Policies become exhausted, the parties agree to share the losses which otherwise would have been reimbursed by such Policies, but for the exhaustion of such product aggregates, on terms and in proportions that are equitable under the circumstances.
Nothing contained in this Agreement shall be construed to be an attempted assignment, or to change the ownership, of the Xxxx Policies.
Except as provided in the third sentence of this Section 6.03, Xxxx hereby appoints Arch as its agent and attorney in fact to perform Claims Administration under Company Policies with respect to claims against Xxxx which are or may give rise to Arch Liabilities, and Arch hereby appoints Xxxx as its agent and attorney in fact to perform Claims Administration under Xxxx Policies with respect to claims against Arch or Xxxx which are or may give rise to Xxxx Liabilities.
To the extent not already provided for by the terms of a Xxxx Policy, Xxxx shall use commercially reasonable efforts to cause TCM to be named as an additional insured under the Xxxx Policies whose effective policy periods include the Distribution Date, in respect of claims arising out of or relating to periods prior to the Distribution Date.
Xxxx shall use commercially reasonable efforts to maintain the Xxxx Policies in full force and effect up to and including the Distribution Date, and, subject to the provisions of this Agreement, Xxxx and its Subsidiaries shall retain all of their respective rights, benefits and privileges, if any, under the Xxxx Policies.
If not specifically stated and agreed upon in writing by the Parties, the presumption is that any policies at issue are subject to the Agency Xxxx Policies outlined herein.
Xxxx or one or more of its Subsidiaries shall continue to own all property, casualty and liability insurance policies and programs, including, without limitation, primary and excess general liability, errors and omissions, automobile, workers' compensation, property, fire, crime and surety insurance policies, in effect on or before the Distribution Date (collectively, the "Xxxx Policies" and individually, a "Xxxx Policy").
In asserting and pursuing such coverage and payment, Xxxx and TCM shall jointly make all decisions, determinations, commitments and stipulations concerning any such claims on its own behalf and on behalf of TCM and its Subsidiaries, which decisions, determinations, commitments and stipulations shall be final and conclusive if reasonably made to maximize the overall economic benefit of the Xxxx Policies.