DEBT PROTECTION. Debt protection is not required for any extension of credit under this Agreement. However, You may purchase any debt protection available through Us and have the costs added to Your outstanding balance. If You elect to do so, You will be given the necessary disclosures and documents separately.
DEBT PROTECTION. Loan Protection is not required to obtain credit. If loan protection is offered on Your account and You request loan protection, the fee will be calculated monthly by multiplying the fee rate by the outstanding balance of each account. The fee rates per
DEBT PROTECTION. Debt Protection is not required as a condition of credit. If I choose voluntary Debt Protection, the fees for such coverage will be added to my outstanding balance. If I do not make any payment when due, you may at your option, cancel such coverage. You may also have the option of paying the monthly fees and adding them to my outstanding balance where they will be subject to the Daily Periodic Rate disclosed.
DEBT PROTECTION. (a) Subject to the provisions of this Section 4, during the Protection Period, the Company may sell, assign, transfer, refinance (with recourse or nonrecourse indebtedness) mortgage, pledge or otherwise deal with any of the Contributed Assets provided, however, that the Company and/or FCEI will (i) maintain, and cause each of the entities classified as a partnership for Federal income tax purposes in which the Company holds a direct or indirect interest to maintain, an amount of indebtedness, in the aggregate, at least equal to $500 million reduced by the Cumulative Liability Adjustment, (ii) if the Company chooses to refinance (or cause or permit to be refinanced) existing indebtedness, use commercially reasonable efforts to cause such refinancing indebtedness to be “qualified nonrecourse financing” within the meaning of Section 465(b)(6)(B) of the Code; (iii) use commercially reasonable efforts to replace such indebtedness with other indebtedness, rather than retire existing indebtedness with equity or FCEI loans, unless in its reasonable business judgment it is in the best interests of FCEI to do so; and (iv) provide each of the Protected Parties that holds a direct or indirect interest in the Company with an opportunity to undertake obligations in a form reasonably acceptable to, and in no way detrimental to, the Company, the intent of which is to allocate indebtedness to such parties for purposes of Section 752 of the Code and the Treasury Regulations promulgated thereunder (a “Guaranty Opportunity”). If any Protected Party intends to undertake a Guaranty Opportunity, it shall provide a written notification to the Company Representative of such intention. In addition to the foregoing, if in its reasonable business judgment, FCEI or the Company determines that it is in the best interests of FCEI or the Company to retire (or cause to be retired) existing debt with equity contributions, then FCEI will use commercially reasonable efforts to cooperate with the Protected Party Representative in structuring the debt retirement to minimize adverse income tax consequences to a Protected Party through (A) a merger of certain BCR Entities, (B) allowing Protected Parties or affiliates thereof to participate in the equity contribution (e.g., by BCR making a loan to the Company), or (C) any other reasonable request by the Protected Party Representative which would involve no cost to FCEI.
(b) At least thirty (30) days (or such shorter period if commercially reasona...
DEBT PROTECTION. At the time the Partnership exercises the Option, if a Contributor or an Indirect Owner would have a “negative capital account” with respect to the Units received in exchange for the Property upon exercise of the Option (each an “Affected Person”), the Partnership shall negotiate in good faith with such Affected Person to provide Debt Protection for the Term (with such terms and exceptions as shall be determined by the Partnership in good faith) so as to permit such Contributor or Indirect Owner to avoid recognizing gain with respect to such “negative capital account” during the Term (except upon a disposition of part or all such Contributor’s or Indirect Owner’s direct or indirect interest in the Units issued by the Partnership on the Closing Date). As used herein, the term “negative capital account” means, in the case of the Contributor, the amount by which the Contributor’s allocable share (under Section 752 of the Code) of the liabilities to which the Property is subject or that are assumed by the Partnership on the Closing Date exceed the Contributor’s adjusted tax basis in the Property on the Closing Date (and in the case of an Indirect Owner, such Indirect Owner’s proportionate share of such excess, determined in accordance with the applicable income tax regulations).
DEBT PROTECTION. 31.1.1. You will receive Automatic Debt Protection cover, as an embedded value added service and a credit life insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser amount on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve (12) months of the event; • We will not waive any amount owing to us that is greater than twelve thousand Rand (R12 000) for Cardholders.
31.1.2. The Automatic Debt Protection Plan starts on approval of your credit card facility and ends: • When the Insurer pays a claim in the event of your death or permanent disability; • If you are under special arrangement and default twice, whether consecutively or at any time during a sixty (60) month period, the Plan will automatically terminate, and you will lose your cover and have no claim under this Plan.
31.1.3. We will not waive any amount: • Willful self-inflicted injury or suicide for a period of twelve (12) months from the Start Date of this Plan; • Active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war be declared or not), civil war, insurrection, rebellion revolution, civil commotion or uprisings, military power; • Any pre-existing condition/s that you were aware of and that affected you in the twelve (12) months prior to the Start Date of this Plan will be excluded for a period of twelve (12) months after the Start Date of this Plan; • Disability that arose within three (3) months of the Start Date of this Plan; • The covered event arose from participation in criminal activities. • If your account is not in good standing because it has an unacceptable arrears status as at the date of your death or the event causing permanent disability, i.e. if you have not paid two or more monthly premiums owing on your credit card that became due and payable; • If this agreement and/or your right to use the credit card and/ or your credit card facility ends; • If at the date of your death or the event causing permanent disability, you are seventy (70) years old or older; • If the terms and conditions of this Plan are not met; and • If any information provided on the submission of a claim is materially incorrect, fraudulent, misrepresented or omitted. The insurer also reserves its rights to recover any amount paid...
DEBT PROTECTION. 36.1.1 You will receive Automatic Debt Protection cover, an embedded value add service which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser, on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We must receive satisfactory proof of your death or permanent disability within six (6) months of the event; • We will not waive any amount owing to us that is greater than two thousand Rand (R2000) for “Classic” cardholders, five thousand Rand (R5 000) for “Gold” cardholders, twelve thousand Rand (R12 000) for “Platinum” cardholders and one thousand Rand (R1 000) for “Standalone Petro Card” holders; • Automatic Debt Protection is not available to Private Clients, Private Wealth or RMB Private Bank Cardholders. Should you upgrade your Credit Facility and Credit Card Account to either a Private Clients, a Private Wealth or an RMB Private Bank Account, the Automatic Debt Protection will automatically expire which means that we will not waive any amount owing to us. You do have the option to sign up for the Top-up Debt Protection Plan which is explained below at paragraph 36.2.
36.1.2 We will not waive any amount:
36.1.3 It is your duty to inform us immediately if you have been accepted to undergo debt review.
36.1.4 If you have applied and been accepted under the debt review process, the Automatic Debt Protection Plan and the Top-up Debt Protection Plan will automatically terminate and you will not be able to claim any compensation under these plans.
DEBT PROTECTION. If you elect Debt Protection, as set forth in your application or otherwise, then the charges will be added to your account balance on each billing cycle, if your Debt Protection application is approved. Debt Protection is voluntary and not required to obtain a credit card account with us. You have the right to terminate this Debt Protection at any time by notifying us in writing. Debt Protection coverage is not available for Visa Business Platinum Cards.
DEBT PROTECTION. 33.1.1. You will receive Automatic Debt Protection cover, as an embedded value-added service and a credit life Insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever Is the lesser amount, on your credit card facility at the time of your death or permanent disability, subject to the following conditions:
33.1.1.1. FirstRand Life (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve (12) months of the event.
33.1.1.2. The Insurer will not waive any amount owing to us that Is greater than five thousand rand (R5 000) for Aspire cardholders, twelve Thousand rand (R12 000) for Premier cardholders, one thousand rand (R1 000) for "Standalone Petro Card" holders, twelve thousand rand (R12 000) for Private Clients cardholders and twelve thousand rand (R12 000) for Private Wealth cardholders.
33.1.2. The Automatic Debt Protection Plan starts on approval of your credit card facility and ends:
33.1.2.1. When the Insurer pays a claim in the event of your death or permanent disability.
33.1.2.2. If you are under special arrangement and default twice, whether consecutively or at any time during a sixty (60) month period, the Plan will automatically terminate, and you will lose your cover and have no claim under this Plan.
DEBT PROTECTION. 33.1.1. You will receive Automatic Debt Protection cover, an embedded value add service and a credit life insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser amount, on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve
