Continuation Option. A Member no longer eligible for coverage (except in the event of termination for cause, as set forth in Subsection E.) may continue coverage for a period of up to 3 months subject to notification to and self- payment of premiums to the Group. This provision will not apply if the Member is eligible for the continuation coverage provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). This continuation option is not available if the Group no longer has active employees or otherwise terminates.
Continuation Option. (a) [Reserved].
(b) Any Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving irrevocable notice of a continuation request in the form of Exhibit I hereto to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans, such notice to be signed by a Financial Officer and delivered per both fax and e-mail in accordance with Section 11.2 and received by the Administrative Agent prior to 7:00 P.M., Pacific Standard Time on the Business Day prior to the expiry of the then current Interest Period; provided that no Loan may be continued as such when any Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such continuations, and provided, further, that if the Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso then the Borrower shall be deemed to have submitted a continuation request for a new Interest Period of one week and the relevant Loan shall be continued for a period of one week at the corresponding Eurodollar Rate upon the expiration of the then current Interest Period and, unless the required notice of continuation is given prior to the expiration of such one week period in accordance with this paragraph, shall be due and payable on the last day of such one week period. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant Lender thereof.
Continuation Option. (a) Borrower may irrevocably request a Continuation of Loans on any Business Day in a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to Administrative Agent not later than the Requisite Time therefor.
(b) Unless Borrower pays all amounts due under Section 3.05, if any, a Eurodollar Rate Loan may be Continued only on the last day of the Interest Period for such Eurodollar Rate Loan.
(c) Administrative Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any Eurodollar Rate Loan upon determination of the same.
Continuation Option. (a) The Borrowers may elect to continue such Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of each continuation shall be allocated among the Loans of each Lender in accordance with its Ratable Portion. Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Continuation”) and shall be made by giving the Applicable Facility Agent at least three Business Days prior written notice specifying (A) the amount and type of Loan being continued, (B) the applicable Interest Period, and (C) the last day of the applicable Interest Period).
(b) The Applicable Facility Agent shall promptly notify each Lender of its receipt of a Notice of Continuation and of the options selected therein. Notwithstanding the foregoing, no continuation in whole or in part of Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (i) a Default or an Event of Default shall have occurred and be continuing or (ii) the continuation of would violate any of the provisions of Section 2.15. If, within the time period required under the terms of this Section 2.12, the Applicable Facility Agent does not receive a Notice of Continuation from a Borrower containing a permitted election to continue any Loans for an additional Interest Period, then, upon the expiration of the applicable Interest Period, such Loans will be automatically continued for one month or any other alternative interest period as selected by the Applicable Facility Agent. Each Notice of Continuation shall be irrevocable.
Continuation Option. This option applies for death and TPD cover for regular employees. Refer to section 6 of the PDS Part B for more information.
Continuation Option. 9.1.1 In the event of an Employee reaching Normal Retirement Age and the Employee is still actively at work after the Normal Retirement Age, the Employee shall have an option to continue with cover, and cover shall continue until Employee attains the Cover Termination Age of 70 (seventy) years.
Continuation Option. Prior to the termination of each CD Interest Period or Eurodollar Interest Period, Borrower may give the Bank a Conversion/Continuation Notice electing to continue all or part of the loan related thereto as the same type of loan upon the expiration of such CD Interest Period or Eurodollar Interest Period. Such Conversion/Continuation Notice shall be given to Bank at least three (3) Eurodollar Business Days prior to the termination of such Eurodollar Interest Period and at least two (2) Business Days prior to the termination of such CD Interest Period and shall specify the length of the succeeding CD Interest Period or Eurodollar Interest Period, as the case may be (subject to the provisions of the definitions of such term), selected by Borrower with respect to such portion. If no Conversion/Continuation Notice is given with respect to all or any portion of a Loan, Borrower shall be deemed to have elected to reborrow such portion of the Loan as a Base Rate Loan.
Continuation Option. If this Agreement has not been terminated ------------------- in accordance with Section 3 hereof prior to the expiration of three (3) years after the date hereof and Buyer does not exercise the Purchase Option (as defined in Section 4.01), then Buyer shall have the option to continue the Term of this Agreement (the "Continuation Option") for an additional two (2) year period (the "Continuation Period") by providing notice to Company in writing of the exercise of its option granted by this Section 4.02 during the Option Term immediately preceding termination of this Agreement pursuant to Section 3.01(f) above. Buyer's Continuation Option shall be subject to and shall be conditional upon payment by Buyer to Company of any unpaid Royalty Payments then due and payable, payment by Buyer to Company of any unpaid amounts owing for inventory purchased hereunder then due and payable, and payment of the SG&A Differential (as defined in Section 5.02) in the event Company has not exercised its Put Option (as defined in Section 5.02). Upon exercise of the Continuation Option, the following shall occur:
(a) the License for the Licensed Intellectual Property shall terminate and Buyer shall have no further right to utilize the Licensed Intellectual Property for any purpose whatsoever and Buyer shall change its name as soon as practicable to a name which does not use the name Xxxxxx or any derivation thereof;
Continuation Option. 2.5.1 A Life Assured may exercise the Continuation Option in respect of the Death Benefit specified in Schedule 1 in the event of the Life Assured leaving the service of the Employer, and becoming entitled to a benefit from the Fund, irrespective of the reason for the Life Assured leaving service, up to and including the earlier of his Normal Retirement Age and the Maximum Cover Age. A Life Assured may exercise the Continuation Option in respect of the Disability Benefit specified in Schedule 1 in the event of the Life Assured leaving the service of the Employer, and becoming entitled to a benefit from the Fund, irrespective of the reason for leaving service other than for reasons of ill health, up to and including the earlier of the Life Assured attaining age 55 or the Maximum Cover Age. The Continuation Option for the Disability Benefit will however only be extended in the event of the Life Assured also availing of the Continuation Option in respect of the Death Benefit as detailed in the preceding paragraph. It is specifically recorded that no continuation option shall be offered or shall apply in respect of the Terminal Illness Benefit detailed elsewhere in this policy.
2.5.2 Notwithstanding the above, the Continuation Option shall also be available to a Life Assured leaving service as a result of termination of the Employer’s participation in the Fund, provided that the Employer ceases to operate as a going concern and the Employer is not transferring Members of the Policyholder to another fund which provides life and / or disability assurance.
2.5.3 Under a Life Assureds’ personal policy:
2.5.3.1 no evidence of insurability shall be required; provided that a Life Assured shall nonetheless be subject to such requirements, conditions or exclusions in respect of Acquired Immunodeficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV) as the Insurer may specify at the time of exercising the Continuation Option;
2.5.3.2 a standard premium for his age and risk class shall apply unless a loading on the Life Assureds’ premium was applied while he was a Life Assured, in which case the premium in respect of personal policy effected in terms of the Continuation Option shall be loaded to the same extent ; and
2.5.3.3 any pre-existing condition provisions in terms of Clause 4.3.1 shall continue to apply;
2.5.3.4 the waiting period shall not be shorter and the maximum cover age shall not be later than the Waiting Period and Maximum Cover Age applicable in t...
Continuation Option. This option applies for death and TPD cover. Refer to section 6 of the PDS Part B for more information. Group Life insurance policy with policy number 6096663 issued by Zurich Australia Limited (ABN 92 000 010 195). 1 May 2022 to 30 April 2025 The policy owner and MetLife agree that under this policy, the following Special Conditions will apply:
