AMOUNT AND PAYMENT OF BENEFITS. As soon as THE REINSURER receives proper claim notice and any required proof of the claim, reinsurance benefits are due and payable to THE COMPANY. THE REINSURER is bound by THE COMPANY’s decisions regarding settlement of all claims. Payment of the benefits by THE REINSURER will be made in a single sum, regardless of THE COMPANY’s settlement options. The maximum benefit payable to THE COMPANY under each reinsured policy is the amount specifically reinsured with THE REINSURER. In the event that THE REINSURER has not paid reinsurance benefits to THE COMPANY within sixty days of the due date, THE COMPANY may charge interest on the amount due at an interest rate equal to the London Interbank Offer Rate, U.S. Denomination-Fixed Three-month, (LIBOR), as of when the payment was due. In addition, in the event that reinsurance benefits are sixty days past due, THE COMPANY may recapture the reinsurance as described in the ‘RECAPTURE’ section.
AMOUNT AND PAYMENT OF BENEFITS. As soon as the Reinsurer receives proper claim notice and proof of the claim, the Reinsurer will promptly pay the reinsurance benefits due the Ceding Company. The Ceding Company's contractual liability for claims is binding on the Reinsurer. The maximum benefit payable to the Ceding Company under each reinsured policy is the amount specifically reinsured with the Reinsurer. The total reinsurance in all companies on a policy shall not exceed the Ceding Company's total contractual liability on the policy, less its retention used on the policy. The excess, if any, of the total reinsurance in all companies plus the Ceding Company's retention used on the policy over its contractual liability under the reinsured policy will first be applied to reduce all reinsurance on the policy. This reduction in reinsurance will be shared among all the reinsurers in proportion to their respective amounts of reinsurance prior to the reduction.
AMOUNT AND PAYMENT OF BENEFITS. As soon as THE REINSURER receives the request for payment and any required proof of the claim, reinsurance benefits are due and payable to THE COMPANY. Payment of the benefits will be made in a single sum, regardless of THE COMPANY’s settlement options. THE COMPANY's contractual liability for claims under reinsured policies is binding on THE REINSURER. The maximum benefit payable to THE COMPANY under each reinsured policy is the amount specifically reinsured with THE REINSURER.
AMOUNT AND PAYMENT OF BENEFITS. THE REINSURER will reimburse THE COMPANY for death claims paid by THE COMPANY with respect to the policies reinsured under this Agreement. The amount of the reimbursement will be equal to the percentage of the claims paid by THE COMPANY, where such percentage is the portion of the policy reinsured as shown in Schedule A. The death claims reimbursed under this Agreement will be determined from the death claims paid by THE COMPANY on or after the Effective Date.
AMOUNT AND PAYMENT OF BENEFITS. (i) If Executive becomes eligible for benefits under this Section 1, Executive shall be entitled, upon being Involuntarily Terminated from employment, to receive from the Post-Change Employer, the following benefits:
(A) An amount of cash equal to:
(a) The greater of two times:
(1) Executive's annualized base salary, plus the amount of Executive's annualized car allowance, if any, in effect at the end of the month immediately prior to the Change in Control; or
(2) Executive's annualized base salary, plus the amount of Executive's annualized car allowance, if any, in effect at the end of the month immediately prior to the date Executive is Involuntarily Terminated; and
(b) The greater of two times:
(1) The amount of bonus, if any, paid or accrued to Executive for the most recently ended calendar year immediately prior to the Change in Control; or
(2) The amount of bonus, if any, paid or accrued to Executive for the most recently ended calendar year prior to the date Executive is Involuntarily Terminated. The Post-Change Employer shall make the cash payments described in this Subsection 1c(i)(A) as a lump sum payment payable within thirty (30) calendar days after the date that Executive is Involuntarily Terminated, or, at Executive's written request delivered within fifteen (15) calendar days after the date Executive is Involuntarily Terminated, in twelve (12) equal and consecutive monthly installments with the first installment payable within thirty (30) calendar days after the date Executive is Involuntarily Terminated.
(B) Standard outplacement services provided by a qualified outplacement agency selected by the Post- Change Employer, which services will be made available for a period of twelve (12) consecutive calendar months from the date Executive is Involuntarily Terminated, or until the date Executive accepts employment with another employer, whichever occurs first; and
(C) Compensation for the loss of group medical and dental insurance benefits (excluding coverage under any life or long-term disability programs), which may be provided, at the sole discretion of the Post- Change Employer, by either of the following options:
(a) By continuing in effect those group medical and dental insurance benefits which were provided by the Post-Change Employer immediately before Executive was Involuntarily Terminated, on the same terms and conditions which were in effect immediately before Executive was Involuntarily Terminated, provided that such coverage is sub...
AMOUNT AND PAYMENT OF BENEFITS. As soon as THE REINSURER receives proper claim notice and any required proof of the claim, reinsurance benefits are due and payable to THE COMPANY. THE COMPANY's contractual liability for claims is binding on THE REINSURER. The maximum benefit payable to THE COMPANY for each reinsured policy is the amount specifically reinsured with THE REINSURER. In the event that reinsurance benefits are sixty days past due, THE COMPANY may recapture the reinsurance as described in Section 19. If THE REINSURER intends to dispute its liability with respect to a claim, THE REINSURER shall promptly notify THE COMPANY in writing of its intention.
AMOUNT AND PAYMENT OF BENEFITS. As soon as AUSA receives proper claim notice and any required proof of the claim, AUSA will promptly pay the reinsurance benefits due PRUCO. PRUCO's contractual liability for claims is binding on AUSA. The maximum benefit payable to PRUCO under each reinsured policy is the amount specifically reinsured with AUSA.
AMOUNT AND PAYMENT OF BENEFITS. As soon as AUSA receives proper claim notice and any required proof of the claim, AUSA will promptly pay the reinsurance benefits due PRUCO OF NJ. PRUCO OF NJ's contractual liability for claims is binding on AUSA. The maximum benefit payable to PRUCO OF NJ under each reinsured policy is the amount specifically reinsured with AUSA.
AMOUNT AND PAYMENT OF BENEFITS. As soon as THE REINSURER receives notice, reinsurance benefits are due and payable to THE COMPANY. The amount payable is the amount of mortality and expense charges waived by THE COMPANY. In the event that reinsurance benefits are sixty days past due, THE COMPANY may recapture the reinsurance as described in Section 17 5. SCHEDULE A, Section 1, POLICIES REINSURED, shall be replaced by the following: This Agreement covers the following policies issued by THE COMPANY: · Appreciable Life – Form Numbers AXX-00, XXX-00, XXX-00, XXX-00 and all state variations · Charity Plus – Form Numbers CUL-B-106 and all state variations · Magnastar – Form Numbers MVUL-2002 for single life and SMVUL-2003 for survivorship and all state variations · M Premier VUL – Form Number MPVUL-2003 and all state variations · PruLife Advisor Select – Form Number VULPAS 2002 and all state variations · PruLife Custom Premier – Form Number VUL-2000 and all state variations · PruLife Custom Premier II – Form Number VUL-2004 and all state variations · PruLife Universal – Form Number UL-2000 and all state variations · PruLife Universal Plus/Protector – Form Numbers UL-2001 for PruLife Universal Plus, ULNT-2001 for PruLife Universal Protector and all state variations. For PruLife Universal Protector, includes both mortality risk and death benefit guarantee risk. · PruLife UL Plus/Protector 2003 –Form Numbers UL-2003 for PruLife UL Plus 2003, ULNT-2003 for PruLife UL Protector 2003 and all state variations · PruLife SUL Plus/Protector -- Policy Form Numbers SUL-2003 for PxxXxxx XXX Xxxx, XXXXX-0000 for PruLife SUL Protector and all state variations · PruSelect I – Form Number CVUL-89 and all state variations · PruSelect II – Form Number VUL-B-104 and all state variations · PruSelect III –Form Numbers CVUL-1999 and all state variations · PruVider – Form Number VAL-DR-105 and all state variations · Survivorship Variable Universal Life – Form Number SVUL-2000 and all state variations · Term Elite and Essential 2000, 2001, 2002, 2003, and 2004 – Form Numbers PXXX-0000, XXXXXX-0000, PLTINC-2001, PLTIC-2003 and all state variations · Variable Appreciable Life – Form Numbers VXXX-00, XXXX-00, XXXX-00, XXXX-00, and all state variations · Variable Life Insurance – Form Number VFL-85 and all state variations · Variable Universal Life – Form Number VUL-97 and all state variations · All subsequent policies issued on policy forms that are essentially revisions to the above products, notwithstanding the fact th...
AMOUNT AND PAYMENT OF BENEFITS. As soon as THE REINSURER receives proper claim notice and any required proof of the claim, reinsurance benefits are due and payable to THE COMPANY. THE REINSURER is bound by THE COMPANY’s decisions regarding settlement of all claims, on claim events that occur on or after the effective date of this agreement. Payment of the benefits by THE REINSURER will be made in a single sum, regardless of THE COMPANY’s settlement options. The maximum benefit payable to THE COMPANY under each reinsured policy is the amount specifically reinsured with THE REINSURER. If THE COMPANY settles a claim for an amount less than the contractually required amount, then the REINSURER’s liability will be reduced in proportion to the reduction in the total amount at risk on such life. In the event that THE REINSURER has not paid reinsurance benefits to THE COMPANY within sixty days of the due date, THE COMPANY may charge interest on the amount due at an interest rate equal to the London Interbank Offer Rate, U.S. Denomination-Fixed Three-month, (LIBOR), as of when the payment was due. In addition, in the event that reinsurance benefits are sixty days past due, THE COMPANY may recapture the reinsurance as described in the ‘RECAPTURE’ section. THE REINSURER shall not be liable for any Claim Exception made by THE COMPANY related to any policy reinsured under this Agreement. A “Claim Exception” is a decision made by THE COMPANY to pay a claim solely to alleviate or reduce THE COMPANY’s risk exposure as a result of gross negligence or intentional misconduct by its employees. However, the parties recognize that there may be situations where equity would require THE REINSURER to reimburse THE COMPANY for its share of the claims. In such cases, the parties will work together in good faith to reach a mutually agreeable resolution.
