MSSF means Morgan Stanley Senior Funding, Inc. Managing Agents means the banks listed on Schedule I hereto, in their capacity as managing agents of the credit facility hereunder. Syndication Agent as defined in the preamble hereto. Syndication Agents as defined in the preamble hereto. Syndication Letter means the syndication letter in relation to the Facilities dated on or about the date of this Agreement entered into by, among others, the Company and the Mandated Lead Arrangers (as at the date of this Agreement). Syndication Date means that date upon which the Administrative Agent determines in its sole discretion (and notifies the Borrower) that the primary syndication (and resultant addition of Persons as Lenders pursuant to Section 13.04(b)) has been completed.Ĭo-Syndication Agents as defined in the preamble hereto. and Wells Fargo Bank, National Association in its capacity as co-syndication agent for the credit facility evidenced by this Agreement. If a reinsurer fails to pay a claim for any reason, the Syndicate remains liable for the payment to the policyholder.Ĭo-Syndication Agent means each of Bank of America, N.A. However, the collection centre of the Members of the Syndicate or the SCSB or the Trading Member, as the case may be, will acknowledge the receipt of the Application Forms by stamping and returning to the Applicant the acknowledgement slip.Īpplicants should note that the Members of the Syndicate, or the Trading Members, as appropriate, will not be liable for errors in data entry due to incomplete or illegible Application Forms.Īs permitted by FRS 103 the Syndicate continues to apply the existing accounting policies that were applied prior to this standard for its insurance contracts.Įach member's SCR shall thus be determined by the sum of the member's share of the Syndicate SCR 'to ultimate'. Therefore, the objective of the Syndicate is to ensure that sufficient reserves are available to cover these liabilities.Įach member’s SCR shall thus be determined by the sum of the member’s share of the Syndicate SCR ‘to ultimate’. It is also responsible for safeguarding the assets of the Syndicate and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal risk the Syndicate faces under insurance contracts is that the actual claims and benefit payments or the timing thereof, differ from expectations. The Native Syndicate are primarily identified by the colour black, with Northern Manitoba members wearing the colours of the Raiders while members in Winnipeg dawn white bandannas.These policies define the identification of risk and its interpretation to ensure the appropriate quality and diversification of assets, align underwriting and reinsurance strategy to the Syndicate goals, and specify reporting requirements.
Despite their many enemies, the Native Syndicate have a loose connection to the Hells Angels, African Mafia and the Zig Zag Crew in Winnipeg. Their enemies include the Indian Posse, Manitoba Warriors (along with the Alberta Warriors and Saskatchewan Warriors respectively), the Most Organized Brothers, the White Boy Posse, Loyalty Honour Silence, Redd Alert, the Mad Cowz and Central Gang. Authorities maintain that this gang is very organized in correctional centres, but not so much on the streets. Members are marked by tattoos, starting with a distinctive "NS" on the web of the hand between thumb and index finger or of two feathers, a tomahawk and spears. Most senior Native Syndicate members are hard-core career criminals with a high propensity for violence. The Native Syndicate mimics Godfather-style mafioso structure, with a boss, an under-boss and a consigliere. As of 2000, there were 143 active and 19 inactive members in the Winnipeg police department's gang unit database including generations of the same families, ranging in age from early teens to mid-50s. members to Manitoba and Alberta, where they began to set up chapters as well. When incarcerated Aboriginal gangs became increasingly violent, Correctional Services Canada reportedly transferred some N.S. The Native Syndicate began as an Aboriginal prison gang consisting of hardened criminals in the Saskatchewan Penitentiary and Regina Correctional Centre. With the formation and growing strength of both the Indian Posse and Manitoba Warriors gang in Canada's Western Provinces' prison system, the necessity of having some gang protection led unaffiliated inmates to form the Native Syndicate in 1994. Rap Dictionary (0.00 / 0 votes) Rate this definition:
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