Continuations. Borrower may, on any Eurodollar Banking Day, upon notice given to the Administrative Agent not later than 9:00 a.m. (California time) on the third Eurodollar Banking Day prior to the date of the proposed Continuation and subject to the provisions of Sections 3.5 and 3.6, Continue all or any portion of the Eurodollar Rate Advances outstanding under a Facility having the same Eurodollar Period; provided that any such Continuation shall be made only on the last day of a Eurodollar Period for such Eurodollar Rate Advances, no Continuation of Eurodollar Rate Advances shall be in an amount less than $1,000,000 and no Continuation of any Eurodollar Rate Advances shall result in more than five (5) separate Eurodollar Periods being outstanding under the Revolving Facility. Each such notice of Continuation shall be made pursuant to a Request for Continuation/Conversion and shall, within the restrictions specified above, specify (i) the date of such Continuation, (ii) the aggregate amount and category of, and the Eurodollar Period for, the Advances being Continued and (iii) the duration of the initial Eurodollar Period for the Eurodollar Rate Advances subject to such Continuation. Each notice of Continuation shall be irrevocable and binding on Borrower.
Continuations. The Borrower may, on any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York City time) on the third Business Day prior to the date of the proposed Continuation and subject to the provisions of Sections 2.08 and 2.12, Continue all or any portion of the outstanding Eurodollar Rate Advances comprising part of the same Borrowing for one or more Interest Periods; provided that (i) Eurodollar Rate Advances so Continued and having the same Interest Period shall be in an amount not less than the minimum amount specified in Section 2.01(b) and (ii) in the case of any such Continuation on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Each such notice of a Continuation shall, within the restrictions specified above, specify (x) the date of such Continuation, (y) the Eurodollar Rate Advances to be Continued and (y) the duration of the initial Interest Period (or Interest Periods) for the Eurodollar Rate Advances subject to such Continuation. Each notice of Continuation shall be irrevocable and binding on the Borrower.
Continuations. In the event of any hearing continuation, an additional charge of $2,000.00 per continuance.
Continuations. The requesting Borrower may, on any Business Day, upon written notice (or telephonic notice promptly confirmed in writing) given to the Administrative Agent not later than 11:00 a.m. (New York time) on the third Business Day (or, with respect to Interest Periods other than one, two, three or six months, fourth Business Day) prior to the date of the proposed Continuation, Continue all or any portion of the outstanding Eurocurrency Loans comprising part of the same Borrowing for one or more Interest Periods. Each such notice of a Continuation shall, within the restrictions specified above, specify (i) the date of such Continuation, (ii) the Eurocurrency Loans to be Continued and (y) the duration of the next Interest Period for the Eurocurrency Loans subject to such Continuation. Each notice of Continuation shall be irrevocable and binding on the Borrowers.
Continuations. In the case of a Continuation of maturing Bankers' Acceptances, issued by a Canadian Resident Lender, such Canadian Resident Lender, in order to satisfy the continuing liability of Canadian Borrowers to the Canadian Resident Lender for the face amount of the maturing Bankers' Acceptances, shall retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Continuation; and Canadian Borrowers shall, on the maturity date of the maturing Bankers' Acceptances, pay to Canadian Agent for the benefit of Canadian Resident Lenders an amount equal to the difference between the face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Continuations. The applicable Borrower(s) may from time to time prior to the Stated Maturity Date request the Lenders to renew the Interest Rate Option applicable to existing Loans by delivering to Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) not later than 12 noon (New York time):
(i) three (3) Business Days prior to the proposed Continuation with respect to Loans denominated in Dollars to which the Term SOFR or Daily Simple SOFR Option applies;
(ii) three (3) Business Days prior to the proposed Continuation with respect to Loans denominated in Alternative Currencies to which the Eurocurrency Rate Option applies; or
(iii) three (3) Business Days prior to the proposed Continuation with respect Loans denominated in Alternative Currencies to which the Daily Simple RFR Option applies. The Notice of Continuation shall also specify the length of the Interest Period selected by such Borrower with respect to such Continuation. Each Notice of Continuation shall be irrevocable and effective upon notification thereof to Administrative Agent. If the applicable Borrower fails to timely give Administrative Agent the Notice of Continuation with respect to any Loan, such Borrower shall be deemed to have elected the Base Rate as the Interest Rate Option with respect to such Loan.
Continuations. A Continuation of a Policy may occur as a replacement or exchange. If the Company issues a Continuation of a Policy as defined in this Article and Article 25 “Definitions”, it agrees to reinsure the Continuation with the Reinsurer, subject to the provisions of this Article. A Policy resulting from an exchange or replacement will be underwritten by the Company in accordance with its underwriting guidelines, standards and procedures for exchanges and replacements. If the Company’s guidelines treat the Policy as new business, then the reinsurance will also be considered new business, and the provisions of Article 3, “Automatic Reinsurance”, or Article 4 “Facultative Reinsurance”, shall apply to such Policy as they would to other new business. For example, new business is defined as those policies on which:
a. The Company has obtained complete and current underwriting evidence on the full amount; and
b. The full normal commissions are paid for the new plan; and
c. The suicide and contestable provisions apply as if the Policy were newly issued. If the above new business provisions do not apply, the Company and the Reinsurer must specifically agree on terms and procedures for the reinsurance coverage to continue. Furthermore, unless mutually agreed otherwise, Policies that are not originally reinsured with the Reinsurer and that are converted or exchanged to or replaced by a plan covered under this Agreement will not be reinsured hereunder. The Reinsurer’s or facultative underwriting Designee’s approval will be required if the original Policy was reinsured on a Facultative Reinsurance basis.
Continuations. No later than 11:00 a12:00 p.m. (x) at least three (3) Business Days prior to the termination of each Interest Period related to a LIBOR RateTerm SOFR Loan, the applicable Borrower shall give Administrative Agent a Notice of Continuation in the form of Exhibit J hereto (a “Notice of Continuation”) setting forth whether it desires to renew such LIBOR RateTerm SOFR Loan. The Notice of Continuation shall also specify the length of the Interest Period selected by such Borrower with respect to such Continuation. Each Notice of Continuation shall be irrevocable and effective upon notification thereof to Administrative Agent. If the applicable Borrower fails to timely give Administrative Agent the Notice of Continuation with respect to any LIBOR RateTerm SOFR Loan, such Borrower shall be deemed to have elected the Prime Rate as the Interest Option with respect to such Loan.
Continuations. A new Policy replacing an existing Policy or a change to an existing Policy issued in compliance with the terms of the original Policy or satisfying any one of the following conditions:
a. The continuing Policy is issued without the same new underwriting information the Company would normally obtain for a newly issued policy; or
b. The continuing Policy is issued without a suicide exclusion or contestable period for the same period of time as those contained in other newly issued policies; or
c. The Company does not pay the same commissions to its agent in the first year that it would normally pay for a newly issued policy.
Continuations. If a Reinsured Policy is converted, exchanged or internally replaced the Company will promptly notify the Reinsurer. Such non-underwritten policy arising from the conversion, exchange or replacement, will continue to be reinsured with the Reinsurer. The amount to be reinsured will be determined on the same basis as used for the original policy but will not exceed the amount reinsured as of the date of conversion unless mutually agreed otherwise. If the policy arising from a conversion, exchange or replacement is on a plan that is not covered by any reinsurance agreement with the Reinsurer, reinsurance will be on a YRT basis using the YRT rates specified in Exhibit C-1, at the attained age and duration of the original policy. A conversion, exchange or replacement that is fully underwritten shall be treated as new business. The above terms will apply unless specified otherwise in Exhibit C-1. A policy resulting from a conversion, exchange or replacement of a policy that was originally underwritten by First-Penn Pacific Life Insurance Company of Ft. Xxxxx Indiana prior to 1/1/2001 shall be reinsured under this agreement under the terms of Article 7.1 of this agreement. Unless mutually agreed otherwise, any other policies that had been reinsured with another reinsurer and which convert to a plan covered under this Agreement will not be reinsured with the Reinsurer.
