ACQUISITION AND PREMIUM PAYMENT Sample Clauses

ACQUISITION AND PREMIUM PAYMENT. In consideration for the agreement of Xx. Xxxxxx in Section 1, as soon as practicable after the date of this Agreement, the Company will acquire a life insurance policy (the "Policy") providing a death benefit of at least the Death Benefit described below upon the death of the survivor of Xx. Xxxxxx or Xxx. Xxxxxx (his "wife"). The Company will select a reputable and financially sound insurance company or companies to issue the Policy (if the Company selects more than one insurance company to issue a life insurance contract pursuant to the requirements of this subsection (a), all such life insurance contracts are referred to collectively as the Policy herein). When the Policy is acquired, the attachment identifying the Policy will be attached to this Agreement. The Company will pay all premiums necessary to acquire the Policy and maintain it in force, and will, if requested, provide evidence of such payment to the Sloane's. Further, the Company's obligation to pay premiums shall not be subject to any right of setoff or counterclaim that the Company may have, for any reason, against Xx. Xxxxxx.
Sample 1
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ACQUISITION AND PREMIUM PAYMENT. As soon as practicable after the date of this Agreement, the Company will acquire a life insurance policy (the "Policy") providing a death benefit of at least the Death Benefit described below upon the death of the survivor of the Executive or the Executive's wife, Xxxxxxx Xxxxxx (his "Wife"). The Company will select a reputable and financially sound insurance company or companies to issue the Policy (if the Company selects more than one insurance company to issue a life insurance contract pursuant to the requirements of this subsection (a), all such life insurance contracts are referred to collectively as the Policy herein). When the Policy is acquired, an attachment identifying the Policy will be attached to this Agreement. The Company will pay all premiums necessary to acquire the Policy and maintain it in force, and will if requested provide evidence of such payment to the Executive. Unless pursuant to subsection (b) next below the Executive's vested interest is reduced to zero, the Company shall be unconditionally obligated to pay premiums for the Policy when due in order to keep the Policy in force. Except as specifically provided in subsection (b)(i) below, the requirements of this Section 3 shall not be subject to, or conditioned upon, the Executive's performance under this Agreement. Further, the Company's obligation to pay premiums shall not be subject to any right of setoff or counterclaim that the Company may have, for any reason, against the Executive.
Sample 1

Related to ACQUISITION AND PREMIUM PAYMENT

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated. 1. PPO medical coverage 2. Prescription drug coverage

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Interim Payments Interim payments may be made by Department, at its discretion, if the completion of deliverables to date have first been accepted in writing by Department's Grant Manager.

  • Payment Authorization and Payment Remittance a. By providing us with names and telephone numbers, email addresses, and/or bank account information of Receivers to whom you wish to direct payments, you authorize us to follow the Payment Instructions that we receive through the Service. Once registered, you authorize us to credit your Eligible Transaction Account for payments remitted to you on behalf of a Sender without further approval from you. b. When we receive a Payment Instruction from you, you authorize us to debit your Eligible Transaction Account for the amount of any such Payment Instruction plus any related fees in effect (and as disclosed on the Site) at the time you initiate the Payment Instruction, and to remit funds on your behalf. You acknowledge and agree that any applicable fees will be charged when we receive a Payment Instruction from you, regardless of whether the Payment Instruction is ultimately completed. You also authorize us to credit your Eligible Transaction Account for the receipt of payments, including but not limited to those payments returned to us from Receivers to whom you sent payment(s) and those payments that were cancelled and returned to you because the processing of the Payment Instruction could not be completed. c. You acknowledge and agree that if your Payment Instructions identify an account by name and account number, the relevant financial institution may execute those Payment Instructions by reference to the account number only, even if such account number does not correspond to the account name. You further acknowledge and agree that financial institutions holding the account may choose to not investigate discrepancies between account names and account numbers and that we have no responsibility to investigate discrepancies between account names and account numbers. d. You agree that we will not be liable in any way for any payments that you may receive, regardless of whether you authorized the Sender to send them to you. e. We will use reasonable efforts to complete all your Payment Instructions properly. However, we shall incur no liability if we are unable to complete any transaction because of the existence of any one or more of the following circumstances: 1. If, through no fault of ours, the Eligible Transaction Account does not contain sufficient funds to complete the Payment Instruction or the Payment Instruction would exceed the credit limit of your overdraft account; 2. The Service is not working properly and you know or have been advised by us about the malfunction before you execute the Payment Instruction; 3. The payment is refused as described in Section 20 below; 4. You have not provided us with the correct information, including but not limited to the correct Payment Instructions or Eligible Transaction Account information, or the correct name and address or mobile phone number of the Receiver to whom you are initiating a Payment Instruction; and/or, 5. Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution, or interference from an outside force) prevent the proper execution of the Payment Instruction. f. It is the responsibility of the Sender and the Receiver to ensure the accuracy of any information that they enter into the Service (including but not limited to the Payment Instructions and name, telephone number and/or email address for the Receiver to whom you are attempting to send a payment), and for informing us as soon as possible if they become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a payment made to the wrong person or entity once informed, but we do not guarantee such stoppage or recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by the Sender or Receiver.

  • Collection and Payment The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations, by virtue of which any property is owed to the Trust; and to enter into releases, agreements and other instruments. Except to the extent required for a corporation formed under the Delaware General Corporation Law, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders.

  • Premium Pay “Premium Pay” is a special pay rate for working during times that are less desirable, such as weekends, holidays or late shifts. The City will not pay the Consultant Premium Pay.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Premium Taxes If premium taxes are incurred, they will be deducted from the contract accumulation, to the extent permitted by law.

  • Overtime and Premium Pay A nurse shall be paid at the rate of one and one- half (1½) times the nurse’s regular hourly rate of pay for all hours worked in any one category listed below, including statutory overtime pay under 9.4.1 or premium pay under 9.4.2 through

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