FACULTATIVE RATE LIMIT Sample Clauses

FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. If either limit would be exceeded, then the reinsurance rates shall be mutually agreed upon. SCHEDULE B, Continued a. The total individual in force and applied for in all companies does not exceed $30,000,000. b. The total amount reinsured with the Reinsurer for the subject life (or either life for joint policies) does not exceed the following: ------------------------------------------------------- Issue Age Std - Table 8 Tables 9-12 Tables 13-16 ------------------------------------------------------- 0-65 $17,000,000 $13,000,000 $10,000,000 ------------------------------------------------------- 66-75 17,000,000 6,000,000 3,000,000 ------------------------------------------------------- 76-80 8,000,000 0 0 ------------------------------------------------------- 81+ 0 0 0 ------------------------------------------------------- For joint Second-to-Die policies, the maximum amount in the table above shall be determined by the life which produces the largest amount. For policies where one life is uninsurable, if the healthier life is rated above Table 8, the Reinsurer can offer only its retention of $1,000,000, if available. REINSURANCE RATES AFTER CONVERSION Annual Premiums per $1,000 Reinsured - Yearly Renewal Term Basis Age Nearest Birthday - Male Nonsmoker REINSURANCE RATES AFTER CONVERSION Annual Premiums per $1,000 Reinsured - Yearly Renewal Term Basis Age Nearest Birthday - Male Nonsmoker -------------------------------------------------------------------------------------------------------------------------------- Policy Year Issue ------------------------------------------------------------------------------------------------------------------ Attnd Age 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Ult Age -------------------------------------------------------------------------------------------------------------------------------- 45 0.00 1.41 1.68 1.89 2.06 2.20 2.33 2.47 2.71 3.01 3.01 3.40 4.03 4.72 5.48 6.65 60 46 0.00 1.55 1.82 2.05 2.23 2.40 2.55 2.72 2.93 3.26 3.26 3.70 4.39 5.14 6.01 7.34 61 47 0.00 1.70 1.97 2.21 2.42 2.62 2.80 2.93 3.18 3.54 3.54 4.04 4.78 5.61 6.59 8.10 62 48 0.00 1.79 2.06 2.33 2.57 2.79 3.00 3.18 3.47 3.87 3.92 4.52 5.30 6.18 7.17 8.91 63 49 0.00 1.86 2.16 2.44 2.71 2.97 3.21 3.45 3.80 4.25 4.38 5.07 5.89 6.79 7.78 9.79 64 ----------------------------------------------------------------------------------------...
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FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. If either limit would be exceeded, then the reinsurance rates shall be mutually agreed upon. a. The total individual in force and applied for in all companies, for each life, does not exceed $35,000,000. b. The total amount reinsured with SECURITY, for each life, does not exceed the following: =================================================================================== Issue Age Std - Table 4 Tables 5 - 8 Tables 9 - 16 ----------------------------------------------------------------------------------- 0-75 $20,000,000 $15,000,000 $10,000,000 ----------------------------------------------------------------------------------- 76-80 $15,000,000 $10,000,000 $5,000,000 ----------------------------------------------------------------------------------- 81-85 $5,000,000 $2,000,000 $0 =================================================================================== 02711916 URT97 (7/1/97) SCHEDULE C REPORTING INFORMATION INFORMATION ON RISKS REINSURED * 1. Full Name of Insured * 2. Date of Birth * 3. Sex * 4. Nonsmoker/Smoker * 5. Insured's State of Residence * 6. Issue Age 7. Policy Number 8. Issue Date 9. Policy Plan Code 10. Type of Transaction 11. Effective Date of Transaction 12. Automatic/Facultative Indicator 13. Duration from Original Policy Date 14. Face Amount Issued 15. Reinsured Amount (Initial Amount) 16. Reinsured Amount (Current Amount at Risk) 17. Change in Amount at Risk Since Last Report 18. Death Benefit Option (For Universal Life Type Plans) 19. ADB Amount (If Applicable) 20. Substandard Rating 21. Flat Extra Amount Per Thousand 22. Duration of Flat Extra 24. Previous Policies (Yes or No) 25. Premiums categorized by: Life, Riders, Waivers, Accidental Death Benefits and Flat Extras 26. Statutory Reserves for: Life, Substandard Risks, Waivers and Accidental Death Benefits *Please provide this information for every insured on each policy SCHEDULE C, CONTINUED 02711916 URT97 (7/1/97) SAMPLE POLICY EXHIBIT SUMMARY (Life Reinsurance Only)
Sample 1
FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. a. The total amount of insurance in force and applied for, per life, with all companies, does not exceed $50,000,000. b. The total amount reinsured with the Reinsurer, per life, does not exceed the following: For joint First-to-Die policies, the maximum amount in the table above is determined by the life that produces the smallest amount. For joint Second-to-Die policies, the maximum amount in the table above is determined by the life that produces the largest amount. For policies where one life is uninsurable, if the healthier life is rated above Table 8, the Reinsurer can offer only $1,500,000, if available. If either limit is exceeded, then rates shall be 110% times the automatic reinsurance rates in this Agreement. 1990-95 Basic Select and Ultimate Table with Manulife's High Issue Age Extension (See Attached)
Sample 1
FACULTATIVE RATE LIMIT. The reinsurance rates in this Agreement shall be used for facultative reinsurance up to the limits shown below. If either limit would be exceeded, then the reinsurance rates shall be mutually agreed upon. a. The total amount in force and applied for, for either life, in all companies does not exceed b. The total amount reinsured with SECURITY, for either life, does not exceed the following: 1. Second-To-Die reinsurance rates are calculated on a case by case basis using the actual age, sex, smoking status and rating of each insured. The calculation begins with the single life base rates shown in Attachment 1. 2. Table rated substandard ratings are reflected by taking the actual table multiple of the single life base rates. 3. Applicants who are deemed uninsurable may be reinsured. However, the insurable life must be rated less than or equal to table four. For calculation purposes, cost of insurance rates for uninsurable risks are a flat $800 per $1,000 at risk. 4. The single life base rates are combined into a joint second-to-die rate using Fxxxxxx’x Method: Let: x = issue age of one insured y = issue age of other insured z = joint life status t = policy duration tPx = probability of x living to end of policy year t tPy = probability of y living to end of policy year t tPz = probability of z (i.e. either x or y) living to end of policy year t tRz = rate for joint status z and policy duration t Then: tPz = tPx + tPy - (tPx) (tPy) tRz = 1 - tPz tRz = 1 - (tPz)/(t-1Pz)
Sample 1
FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance. SCHEDULE C REPORTING INFORMATION INFORMATION ON RISKS REINSURED 1. Type of Transaction 2. Effective Date of Transaction 3. Automatic/Facultative Indicator 4. Policy Number 5. Full Name of Insured 6. Date of Birth 7. Sex 8. Smoker/Nonsmoker 9. Policy Plan Code 10. Insured's State of Residence 11. Issue Age 12. Issue Date 13. Duration from Original Policy Date 14. Face Amount Issued 15. Reinsured Amount (Initial Amount) 16. Reinsured Amount (Current Amount at Risk) 17. Change in Amount at Risk Since Last Report 18. Death Benefit Option (For Universal Life Type Plans) 19. ADB Amount (If Applicable) 20. Substandard Rating 21. Flat Extra Amount Per Thousand 22. Duration of Flat Extra 23. PW Rider (Yes or No) 24. Previous Policies (Yes or No) 25. Premiums SCHEDULE C, CONTINUED SAMPLE POLICY EXHIBIT SUMMARY (LIFE REINSURANCE ONLY)
Sample 1
FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. a. The total amount of insurance in force and applied for, per life, with all companies, does not exceed $50,000,000. SCHEDULE B, CONTINUED
Sample 1
FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. If either limit would be exceeded, then the reinsurance rates shall be mutually agreed upon. a. The total individual in force and applied for in all companies does not exceed $35,000,000. b. The total amount reinsured with for either life does not exceed the following: AGES STD-TABLE 4 TABLES 5-8 TABLES 9-12 TABLES 13-16 0-75 $20,000,000 $15,000,000 $10,000,000 $10,000,000 76-80 $15,000,000 $10,000,000 $5,000,000 $5,000,000 81-85 $5,000,000 $0 $0 $0 The maximum amount in the table above shall be determined by the life that produces the smallest amount. For policies where one life is uninsurable, if the healthier life is rated about Table 8, SECURITY can offer only its retention of $1,500,000, if available. c. The rate limit for facultative cases in excess of the $35,000,000 in force and applied for limit is $10,000,000.
Sample 1
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FACULTATIVE RATE LIMIT. The automatic reinsurance rates in this Agreement can be used for facultative reinsurance up to the limits shown below. If either limit would be exceeded, then the reinsurance rates shall be mutually agreed upon. a. The total individual in force and applied for in all companies does not exceed $35,000,000. b. The total amount reinsured with Reinsurer for either life does not exceed the following: AGES STD-TABLE 4 TABLES 5-8 TABLES 9-12 TABLES 13-16 0-75 $20,000,000 $15,000,000 $10,000,000 $10,000,000 76-90 $15,000,000 $10,000,000 $5,000,000 $5,000,000 90+ $0 $0 $0 $0 EXHIBIT I Male Elite Preferred Nonsmoker 324 6 050 01 Male Preferred Nonsmoker 321 6 050 01 Male Standard Nonsmoker 318 6 050 01 Male Preferred Smoker 321 3 050 01 Male Smoker 318 3 050 01 Female Elite Preferred Nonsmoker 325 6 050 01 Female Preferred Nonsmoker 322 6 050 01 Female Standard Nonsmoker 319 6 050 01 Female Preferred Smoker 322 3 050 01 Female Smoker 319 3 050 01 Unisex Elite Preferred Nonsmoker 326 8 050 01 Unisex Preferred Nonsmoker 323 8 050 01 Unisex Standard Nonsmoker 320 8 050 01 Unisex Preferred Smoker 323 7 050 01 Unisex Smoker 320 7 050 01 The plan code will change to a paid up plan code on the first policy anniversary. This structure is required because there is not a uniform mathematical relationship between gross and net premiums. EXHIBIT II Male Elite Preferred Nonsmoker 315 6 050 05 Male Preferred Nonsmoker 312 6 050 05 Male Standard Nonsmoker 309 6 050 05 Male Preferred Smoker 312 3 050 05 Male Smoker 309 3 050 05 Female Elite Preferred Nonsmoker 316 6 050 05 Female Preferred Nonsmoker 313 6 050 05 Female Standard Nonsmoker 310 6 050 05 Female Preferred Smoker 313 3 050 05 Female Smoker 310 3 050 05 Unisex Elite Preferred Nonsmoker 317 8 050 05 Unisex Preferred Nonsmoker 314 8 050 05 Unisex Standard Nonsmoker 311 8 050 05 Unisex Preferred Smoker 314 7 050 05 Unisex Smoker 311 7 050 05 EXHIBIT III Male Elite Preferred Nonsmoker 306 6 050 10 Male Preferred Nonsmoker 303 6 050 10 Male Standard Nonsmoker 300 6 050 10 Male Preferred Smoker 303 3 050 10 Male Smoker 300 3 050 10 Female Elite Preferred Nonsmoker 307 6 050 10 Female Preferred Nonsmoker 304 6 050 10 Female Standard Nonsmoker 301 6 050 10 Female Preferred Smoker 304 3 050 10 Female Smoker 301 3 050 10 EXHIBIT IV Male Elite Preferred Nonsmoker 306 6 050 15 Male Preferred Nonsmoker 303 6 050 15 Male Standard Nonsmoker 300 6 050 15 Male Preferred Smoker 303 3 050 15 Male Smoker 300 3 050 15 Female Elite Preferred ...
Sample 1

Related to FACULTATIVE RATE LIMIT

  • LIBOR Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at any time and in the minimum amount of $100,000.00; provided however, that if the outstanding principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal balance thereof. In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such month: (a) Determine the amount of interest which would have accrued each month on the amount prepaid at the interest rate applicable to such amount had it remained outstanding until the last day of the Fixed Rate Term applicable thereto. (b) Subtract from the amount determined in (a) above the amount of interest which would have accrued for the same month on the amount prepaid for the remaining term of such Fixed Rate Term at LIBOR in effect on the date of prepayment for new loans made for such term and in a principal amount equal to the amount prepaid. (c) If the result obtained in (b) for any month is greater than zero, discount that difference by LIBOR used in (b) above. Borrower acknowledges that prepayment of such amount may result in Bank incurring additional costs, expenses and/or liabilities, and that it is difficult to ascertain the full extent of such costs, expenses and/or liabilities. Borrower, therefore, agrees to pay the above-described prepayment fee and agrees that said amount represents a reasonable estimate of the prepayment costs, expenses and/or liabilities of Bank. If Borrower fails to pay any prepayment fee when due, the amount of such prepayment fee shall thereafter bear interest until paid at a rate per annum 2.000% above the Prime Rate in effect from time to time (computed on the basis of a 360-day year, actual days elapsed).

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Laws Affecting LIBOR Rate Availability If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any LIBOR Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make LIBOR Rate Loans and the right of the Borrower to convert any Loan or continue any Loan as a LIBOR Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a LIBOR Rate Loan to the end of the then current Interest Period applicable thereto as a LIBOR Rate Loan, the applicable LIBOR Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest Period.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Special Provisions Governing Eurodollar Rate Loans Notwithstanding any other provision of this Agreement to the contrary, the following provisions shall govern with respect to Eurodollar Rate Loans as to the matters covered:

  • Reserves on Eurocurrency Rate Loans The Domestic Borrower shall pay (or cause the Foreign Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive) and (ii) without duplication of any cost in clause (i) of this clause (e), as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Domestic Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Circumstances Affecting LIBOR Rate Availability In connection with any request for a LIBOR Rate Loan or a conversion to or continuation thereof, if for any reason (i) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan, (ii) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR Rate for such Interest Period with respect to a proposed LIBOR Rate Loan or (iii) the Required Lenders shall determine (which determination shall be conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loans during such Interest Period, then the Administrative Agent shall promptly give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, the obligation of the Lenders to make LIBOR Rate Loans and the right of the Borrower to convert any Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and the Borrower shall either (A) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such LIBOR Rate Loan together with accrued interest thereon (subject to Section 5.1(d)), on the last day of the then current Interest Period applicable to such LIBOR Rate Loan; or (B) convert the then outstanding principal amount of each such LIBOR Rate Loan to a Base Rate Loan as of the last day of such Interest Period.

  • Base Rate Loans During such periods as Revolving Loans shall be comprised in whole or in part of Base Rate Loans, such Base Rate Loans shall bear interest at a per annum rate equal to the Adjusted Base Rate.

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