Settlement; No Waiver Sample Clauses

Settlement; No Waiver. This Agreement has been entered into as a settlement of numerous issues and shall not be deemed to constitute a precedent for any purposes whatsoever. Nothing herein shall prejudice or waive any statutory or common law subrogation and assignment rights of any PGA or its ability to pursue such rights arising from the coverage such PGA provides to its Covered Persons other than rights the PGA may have against the Receiver or ELNY. Nothing herein shall preclude or restrict the GA Parties from objecting to any action or determination by the Receiver or restrict the Receiver from objecting to any action or determination by the GA Parties under this Agreement. A Covered Person receiving Covered Benefit Payments from a PGA shall be deemed to have assigned the rights under, and any causes of action against any person for losses arising under, resulting from or otherwise relating to, the subject Contract (to the extent of Covered Benefit Payments received) to such PGA to the full extent provided under the Guaranty Association Act governing the PGA, and nothing contained in this Agreement shall be construed to impair, supplement or otherwise alter any of the rights or obligations of any PGA, any Covered Person, or any Contractowner or payee claiming to be a Covered Person, with respect to such Contract. Neither a PGA’s acceptance of a Contract as a Covered Contract under its applicable Guaranty Association Act nor payment of Covered Benefit Payments under any Covered Contract shall preclude: (1) any Covered Person from contesting the amount or conditions of such PGA’s coverage or asserting that coverage should be provided under a different version of the PGA’s Guaranty Association Act or provided by a different Guaranty Association, or (2) any PGA from seeking after Closing contribution or reimbursement from any other Guaranty Association for the coverage provided hereunder, or asserting that another Guaranty Association should be providing the coverage delivered under this Agreement to any Contract accepted by the PGA as a Covered Contract for purposes of this Agreement.

Get the Official Word Add-in

Settlement; No Waiver. 48 Section 16.23 Time . 48 Section 16.24 Waiver . 48 Section 16.25 No Benefits or Rights for non-Participating Guaranty Associations . 48 Section 16.26 Possible Future Redomestication of NEWCO . 48 Schedules and Exhibits Schedule 1.15 List of Contracts Schedule 1.25 ELNY Mortality Table Schedule 1.42 The Life Insurance Companies Schedule 3.1 ELNY Contract Restructuring by Receivership Court Schedule 4.8 List of Known Secured Creditors and ELNY Assets Subject to Security

Related Clauses

Related to Settlement; No Waiver