Automatic Issue Limits Sample Clauses

Automatic Issue Limits. For any policy to be reinsured under automatic reinsurance, the maximum face amount will not exceed $65 million. Automatic Issue Limits may vary based on issue age and substandard rating.
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Automatic Issue Limits. The amount specified in Schedule C, “Reinsurance Limits”, used to determine the maximum amount written by the Company, including the Company’s Retention, that qualifies for Automatic Reinsurance. This includes all coverage amounts (including known Ultimate Amounts) applied for or issued by the Company with all reinsurers at the time of consideration of the current application.
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Automatic Issue Limits. Automatic Quota Share: Minimum face amount: $[_____] Maximum face amount: $[_____] Automatic Excess: Minimum face amount: $[_____] Maximum face amount: $[_____] [_____]
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Automatic Issue Limits. The following chart outlines the automatic capacity available, including the Company’s Retention, the Reinsurer’s Retention and Retrocession coverage available to the Reinsurer. The capacity listed applies only to policies within the Jumbo Limit. If the limits for Automatic Reinsurance are exceeded, the Company can submit the risk on a Facultative Reinsurance basis. Individual Life Automatic Limits: ISSUE AGE Super Pref./ Pref. / Std. Tbl. 1 – Tbl. 4 (125%- 200%) Tbl. 5 – Tbl. 8 (225%- 300%) Tbl. 9 – Tbl. 16 (325%- 500%) 0 – 75 $60,000,000 $60,000,000 $50,000,000 $25,000,000 76 – 80 $60,000,000 $40,000,000 $25,000,000 $15,000,000 81 – 85 $25,000,000 $25,000,000 $7,000,000 Nil 86 – 90 $10,000,000 $2,000,000 Nil Nil Survivorship (Joint Life) Automatic Limits: ISSUE AGE Super Pref./ Pref. / Std. Tbl. 1 – Tbl. 4 (125%- 200%) Tbl. 5 –Tbl. 8 (225%- 300%) Tbl. 9 – Tbl. 16 (325%- 500%) 0 – 75 $65,000,000 $65,000,000 $55,000,000 $30,000,000 76 – 80 $50,000,000 $50,000,000 $45,000,000 $20,000,000 81 – 85 $15,000,000 $15,000,000 $9,000,000 Nil 86 – 90 $12,500,000 $2,000,000 Nil Nil • Automatic Issue Limits for aviation are reduced in proportion to the Company’s retention reduction. • Entertainers and Professional Athletes are not to be included for Automatic Reinsurance. • The survivorship chart assumes both lives are in the same cell. • Both the individual and survivorship substandard cells ages 86 to 90 are retention only. Company’s Retention Limit: Individual Life Retention Limits: ISSUE AGE Super Pref./ Pref. / Std. Tbl. 1 – Tbl. 4 (125%-200%) Tbl. 5 – Tbl. 8 (225%-300%) Tbl. 9 – Tbl. 16 (325%-500%) 0 – 80 $20,000,000 $20,000,000 $10,000,000 $5,000,000 81 – 85 $10,000,000 $10,000,000 $2,000,000 Uninsurable 86 – 90 $7,500,000 $2,000,000 Uninsurable Uninsurable • Retention is reduced by 50% for an aviation risk. • Aviation may be excluded for any impairment when rated up to table 4 (200%) for an individual policy; aviation should be excluded when rated over table 4 (> 200%) • If issuing an individual life policy with an aviation exclusion, full retention for age and mortality rating is available • Maximum retention on a professional athlete is $5,000,000 Survivorship Retention Limits:
Sample 1
Automatic Issue Limits. The following chart outlines the automatic capacity available, including the Company’s Retention, the Reinsurer’s Retention and Retrocession coverage available to the Reinsurer. The capacity listed applies only to policies within the Jumbo Limit. If the limits for Automatic Reinsurance are exceeded, the Company can submit the risk on a Facultative Reinsurance basis. Individual Life Automatic Limits: ISSUE AGE Standard or better Tbl. 1 – Tbl. 4 (125%-200%) Tbl. 5 – Tbl. 8 (225%-300%) Tbl. 9 – Tbl. 16 (325%-500%)
Sample 1
Automatic Issue Limits. The total Automatic Issue Amounts available to the Ceding Company on a per life basis, including amounts retained by the Ceding Company and all automatic reinsurance, will be as follows. Preferred consideration will be on an individual basis. Single Life: Issue Ages Standard – Table 4 25 – 70 $15,000,000 Joint Life: Issue Ages Standard – Table 4 25 – 70 $15,000,000
Sample 1

Related to Automatic Issue Limits

  • Automatic Renewal Each Schedule will renew automatically at the end of the then-current Schedule Term for a Schedule Renewal Term unless terminated in accordance with this Agreement by either You or Company.

  • Automatic Acceleration Upon the occurrence of an Event of Default described in Section 8.01(l) or Section 8.01(m) the Facility shall be automatically terminated and the Loans and all other Obligations shall be immediately due and payable upon the occurrence of such event, without demand or notice of any kind.

  • Termination or Suspension Under Federal Law (i) If the Employee is removed and/or permanently prohibited from participating in the conduct of the Company’s affairs by an order issued under Sections 8(e)(iv) or 8(g)(i) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Company under this Agreement shall terminate, as of the effective date of the order, but vested rights of the Employee shall not be affected.

  • Minimum Amounts; Limitation on Number of Borrowings At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.08(e). Borrowings of more than one Type may be outstanding at the same time, provided that there shall not at any time be more than a total of 8 Eurodollar Borrowings outstanding. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

  • Reallocation of Applicable Percentages to Reduce Fronting Exposure During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

  • Automatic Conversion Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be convertible, so long as such shares, if this Warrant had been exercised prior to such offering, would have been converted into shares of the Company’s Common Stock pursuant to the Company’s Certificate of Incorporation. In such case, all references to “Exercise Shares” shall mean shares of the Company’s Common Stock issuable upon exercise of this Warrant, as appropriate.

  • Limitation on Additional Indebtedness The Company shall not, and shall not permit any Restricted Subsidiary or Restricted Affiliate to, directly or indirectly, create, incur, assume, issue, guarantee or in any manner become directly or indirectly liable for or with respect to, contingently or otherwise, the payment of (collectively to "incur") any Indebtedness (including any Acquired Indebtedness), except for Permitted Indebtedness; provided, that (A)(i) the Company will be permitted to incur Indebtedness (including Acquired Indebtedness and Buildout Indebtedness) and (ii) a Restricted Subsidiary or Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, in either case, immediately after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), either (X) the ratio of Total Consolidated Indebtedness to Consolidated Pro Forma Operating Cash Flow would not be greater than or equal to 5.5 to 1.0 if such Indebtedness is incurred prior to October 15, 2000 or 5.0 to 1.0 if such Indebtedness is incurred on or after October 15, 2000 or (Y) the ratio of Total Consolidated Indebtedness to Total Invested Equity Capital would not exceed 2.0 to 1.0 and (B) on or after October 15, 2002, a Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), the ratio of Total Affiliate Indebtedness to Affiliate Pro Forma Operating Cash Flow of such Restricted Affiliate would not be greater than or equal to 4.0 to 1.0. For purposes of determining compliance with this Section 10.11, in the event that an item of Indebtedness meets the criteria of more than one of the types of Indebtedness permitted by this covenant, the Company in its sole discretion shall classify such item of Indebtedness and only be required to include the amount of such Indebtedness as one of such types.

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