Continuance of Insured Benefits Sample Clauses

Continuance of Insured Benefits. In the event of a layoff of an employee, CAMH shall pay its share of insured benefits premiums for the duration of the agreed upon notice period provided for in Article 13. If an employee elects salary continuance as their method of severance payment, they will remain eligible for Extended Health, Dental, Pension and Group Life Insurance for the duration of the severance period. An employee who remains on the recall list may continue to pay the full premium cost of a benefit or benefits up to six (6) months following the end of the month in which the layoff occurs, save and except for Long-Term Disability. Such payment shall be made through the payroll office of CAMH provided that the employee informs CAMH of her intent to do so at the time of layoff, and arranges with CAMH the appropriate payment schedule.
AutoNDA by SimpleDocs
Continuance of Insured Benefits. In the event of a layoff of an employee, the Centre shall pay its share of insured benefits premiums for the duration of the agreed upon notice period provided for in Article 32. If an employee elects salary continuance as their method of severance payment, they will remain eligible for Extended Health, Dental, Pension and Group Life Insurance for the duration of the severance period. An employee who remains on the recall list may continue to pay the full premium cost of a benefit or benefits up to six (6) months following the end of the month in which the layoff occurs, save and except for Short Term and Long Term Disability. Such payment shall be made through the payroll office of the Centre provided that the employee informs the Centre of her intent to do so at the time of layoff, and arranges with the Centre the appropriate payment schedule.
Continuance of Insured Benefits. 12.18.1 Except as provided in Article 12.18, all benefits coverage will cease at the end of the month in which the employee is laid off or resigns, save and except: a) a 31 day grace period following termination during which the insurance remains in force for Basic, Supplementary and Dependent Life Insurance; and b) all coverage under the Dental Plan will cease on the date of termination of employment. 12.18.2 An employee who, pursuant to Article 12, is laid off or resigns and receives pay in lieu of notice may continue benefits coverage at his or her own expense for a period of twelve (12) months following lay-off or resignation by arranging to pay the full premiums, in advance, on a quarterly basis. An employee who is on recall may continue benefits coverage at his or her own expense for up to twenty-four (24) months or until recalled. For the purposes of Article 12.18.2, it is understood that benefits coverage does not include Article 16 (Short Term Sickness Plan) and Article 16 (Long Term Disability). 12.18.3 Failure by the employee to pay the premiums as specified in Article 12.18.2 will disentitle the employee to any further benefits under Article 12.18.
Continuance of Insured Benefits. In the event of a layoff of an employee, shall pay its share of insured benefits premiums for the duration of the agreed upon notice period provided for in Article If an employee elects salary continuance as their method of severance payment, they will remain eligible for Extended Health, Dental, Pension and Group Life Insurance for the duration of the severance period. An employee who remains on the recall list may continue to pay the full premium cost of a benefit or benefits up to six (6) months following the end of the month in which the layoff occurs, save and except for Long Term Disability. Such payment shall be made through the payroll office of provided that the employee informs of her intent to do so at the time of layoff, and arranges with the appropriate payment schedule. Before issuing notice of long term layoff pursuant to Article will offer voluntary exit options to a sufficient number of employees in the same classification in order of seniority to the extent that the maximum number of employees in either full time or part time status who elect a voluntary exit option is equivalent to the number of employees who would otherwise be subject to layoff under Article An employee who elects a voluntary exit option shall receive following completion of the last day of work, a voluntary exit option of two (2) weeks salary for each year of service, to a maximum ceiling of (52) weeks pay.
Continuance of Insured Benefits. In the event of a layoff of an employee, the Hospital shall pay its share of insured benefits premiums for the duration of the agreed upon notice period provided for in Article 16. In the event of a layoff of an employee, the Hospital shall pay its share of insured benefits premiums up to the end of the month in which the layoff occurs. If an employee elects salary continuance as her method of severance payment, she will remain eligible for Extended Health, Dental, Pension and Group Life Insurance for the duration of the severance period. An employee who remains on the recall list may continue to pay the full premium cost of a benefit or benefits up to six (6) months following the end of the month in which the layoff occurs, save and except for Long Term Disability. Such payment shall be made through the payroll office of the Hospital provided that the employee informs the Hospital of her intent to do so at the time of layoff, and arranges with the Hospital the appropriate payment schedule.
Continuance of Insured Benefits. In the event of a layoff of an employee, CAMH shall pay its share of insured benefits premiums for the duration of the agreed upon notice period provided for in Article 1

Related to Continuance of Insured Benefits

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Insured Benefits A transferring employee will be covered by the benefit plans at the designated Employer. There will be no break in coverage and/or no waiting period prior to being able to receive benefits so long as the waiting period has already been served, subject to the requirements of the carrier.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall: (a) except policies in evidence of insurance required under Section 11.02(b), name or be endorsed to cover NYSERDA, the State of New York and the Contractor as additional insureds; (b) provide that such policy may not be cancelled or modified until at least 30 days after receipt by NYSERDA of written notice thereof; and (c) be reasonably satisfactory to NYSERDA in all other respects.

  • HEALTH AND INSURANCE BENEFITS 22.01 All health and insurance benefit premium costs paid by the Employer shall prorate in accordance with the proration formula under Article 22.12 of this Agreement. Same sex spouse is eligible to be a dependent for insured benefits.

  • Maintenance of Insurance The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Award and Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Period of Insurance Period of insurance means the period shown as such on the e-certificate and validation card, which time is taken as Greenwich Mean Time unless otherwise stated.

  • Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies (a) The Master Servicer shall maintain, for each Mortgage Loan, hazard insurance with extended coverage in an amount that is at least equal to the lesser of (i) the maximum insurable value of the improvements securing the Mortgage Loan and (ii) the greater of (y) the outstanding principal balance of the Mortgage Loan and (z) an amount such that the proceeds of the policy are sufficient to prevent the Mortgagor or the mortgagee from becoming a co-insurer. Each policy of standard hazard insurance shall contain, or have an accompanying endorsement that contains, a standard mortgagee clause. Any amounts collected under the policies (other than the amounts to be applied to the restoration or repair of the related Mortgaged Property or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Certificate Account. Any cost incurred in maintaining any insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders or remittances to the Trustee for their benefit, be added to the principal balance of the Mortgage Loan, notwithstanding that the Mortgage Loan so permits. Such costs shall be recoverable by the Master Servicer out of late payments by the related Mortgagor or out of Liquidation Proceeds to the extent permitted by Section 3.09. No earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage other than pursuant to any applicable laws and regulations in force that require additional insurance. If the Mortgaged Property is located at the time of origination of the Mortgage Loan in a federally designated special flood hazard area and the area is participating in the national flood insurance program, the Master Servicer shall maintain flood insurance for the Mortgage Loan. The flood insurance shall be in an amount equal to the least of (i) the original principal balance of the related Mortgage Loan, (ii) the replacement value of the improvements that are part of the Mortgaged Property, and (iii) the maximum amount of flood insurance available for the related Mortgaged Property under the national flood insurance program. If the Master Servicer obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans, it shall have satisfied its obligations in the first sentence of this Section 3.10. The policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. If the policy contains a deductible clause and a policy complying with the first sentence of this Section 3.10 has not been maintained on the related Mortgaged Property, and if a loss that would have been covered by the required policy occurs, the Master Servicer shall deposit in the Certificate Account, without any right of reimbursement, the amount not otherwise payable under the blanket policy because of the deductible clause. In connection with its activities as Master Servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Depositor, and the Trustee for the benefit of the Certificateholders, claims under any blanket policy. (b) The Master Servicer shall not take any action that would result in non-coverage under any applicable Primary Insurance Policy of any loss that, but for the actions of the Master Servicer, would have been covered thereunder. The Master Servicer shall not cancel or refuse to renew any Primary Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for the canceled or non-renewed policy is maintained with a Qualified Insurer. The Master Servicer need not maintain any Primary Insurance Policy if maintaining the Primary Insurance Policy is prohibited by applicable law. The Master Servicer agrees, to the extent permitted by applicable law, to effect the timely payment of the premiums on each Primary Insurance Policy, and any costs not otherwise recoverable shall be recoverable by the Master Servicer from the related liquidation proceeds. In connection with its activities as Master Servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Trustee and the Certificateholders, claims to the insurer under any Primary Insurance Policies and, in this regard, to take any reasonable action in accordance with the Servicing Standard necessary to permit recovery under any Primary Insurance Policies respecting defaulted Mortgage Loans. Any amounts collected by the Master Servicer under any Primary Insurance Policies shall be deposited in the Certificate Account or the Collection Account (as applicable).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!