Guaranteed Renewability Sample Clauses

Guaranteed Renewability. This Policy, unless stated otherwise, will be renewed automatically from the Renewal Date for the same Policy term, without further evidence of insurability of the Life Assured on the following conditions: (a) this Policy is in force immediately before it is renewed on the Renewal Date; and (b) the Life Assured is at the applicable the last renewal age (or younger), which is age 80 (c) after renewal, the Sum Assured under the renewed Policy is the same Sum Assured as under this Policy before the Renewal Date; and (d) no claim on this Policy has been admitted. The same terms of acceptance as at the inception of this Policy will continue to be applicable for each successive renewed term. If You do not want to renew this Policy, You must give Us written notice of your intention within 30 days prior to the next Renewal Date.
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Guaranteed Renewability. Guaranteed renewability Benefit is only applicable for policy term of 5 years (renewable). At the end of each 5 years policy term, this policy will be renewed automatically from the renewal date for another 5 years, without giving Us proof of good health if the following conditions are met: a) this policy is in force on the Expiry date before the renewal; b) the Life insured has not reached Age 86 at the renewal date; c) there are no previously admitted or submitted claims on this policy; and d) the Life insured is insured for the same Sum insured or less. If this policy is issued on non-standard terms, the same terms, conditions and exclusions shall continue to be applicable on the renewed term. The renewal premium will be calculated based on the prevailing premium rates at the attained Age of the Life insured and will stay level throughout the renewed term.
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Guaranteed Renewability. This is a yearly renewable plan and the policy term is 1 year. At the end of 1 year policy term, this policy will be renewed automatically for another 1 year at the same Sum insured and conditions on the expiry date before renewal, so long as the following conditions are met: (a) this policy is in force on the expiry date before the renewal; and (b) the life insured has not reached age 85 at the renewal date. The premium that You pay for this policy is guaranteed during the first 1 year policy term. However the renewal premium will be calculated based on the attained age of the life insured using prevailing premium rates at the time of renewal. We reserve the rights to adjust the renewal Premium. We will let You know 30 days in advance if Your renewal Premiums are revised.
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Guaranteed Renewability. Guaranteed renewability Benefit is only applicable for policy term of 5 years (renewable) and 10 years (renewable). At the end of each five (5) years policy term, this policy will be renewed automatically from the renewal date for the same policy term of five (5) years on the same terms and conditions, unless otherwise decided by Us, without giving Us proof of good health if the following conditions are met: a) This policy is in force on the Expiry date before the renewal; b) The Life insured has not reached Age 81 at the renewal date; c) There are no previously admitted or submitted claims on this policy; and d) The Life insured is insured for the same Sum insured or less. If this policy is issued on non-standard terms, the same terms, conditions and exclusions shall continue to be applicable on the renewed term. The renewal Premium will be calculated based on the prevailing Premium rates at the attained Age of the Life insured and will stay level throughout the renewed term. At the end of each ten (10) years policy term, this policy will be renewed automatically from the renewal date for the same policy term of ten (10) years on the same terms and conditions, unless otherwise decided by Us, without giving Us proof of good health if the following conditions are met: a) This policy is in force on the Expiry date before the renewal; b) The Life insured has not reached Age 76 at the renewal date; c) There are no previously admitted or submitted claims on this policy; and d) The Life insured is insured for the same Sum insured or less. If this policy is issued on non-standard terms, the same terms, conditions and exclusions shall continue to be applicable on the renewed term. The renewal Premium will be calculated based on the prevailing Premium rates at the attained Age of the Life insured and will stay level throughout the renewed term.
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Guaranteed Renewability. We guaranteed the renewal of eXTRA premier secure up to the cover expiry date as shown on your policy information page so long as you pay the premium on time.
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Guaranteed Renewability. If your basic policy is a 5 years (renewable) DIRECT – Etiqa term life, this rider will be renewed automatically together with the basic policy from the renewal date for the same policy term and sum insured, without giving us proof of good health so long as all of the following conditions are met: a) this rider is in force on the expiry date before the renewal; b) the life insured has not reached age 61 at the renewal date; and c) there is no claim on this rider The renewal premium will be calculated based on the prevailing premium rates at the attained age of the life insured and will stay level throughout the renewed term.
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Guaranteed Renewability. If Your Basic policy has a 5 years (renewable) policy term, this rider will be renewed automatically together with the Basic policy from the renewal date for the same policy term, without giving Us proof of good health if the following conditions are met: a) this rider is in force on the Expiry date before the renewal; b) the Life insured has not reached Age 86 at the renewal date; c) there are no previously admitted or submitted claims on this rider; and d) the Life insured is insured for the same Sum insured or less. If this rider is issued on non-standard terms, the same terms, conditions and exclusions shall continue to be applicable on the renewed term. The renewal premium will be calculated based on the prevailing premium rates at the attained Age of the Life insured.
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Guaranteed Renewability. Subject to the termination clause contained in the Policy, renewability of this Policy is guaranteed. At the expiry of the policy, the policy owner has an option to renew the policy for the same coverage term upon maturity without evidence of insurability provided the following conditions are satisfied: 6.12.1 The life assured is below the maximum entry age; and 6.12.2 No claims has been submitted and approved by Us; and 6.12.3 The policy owner must notify Us of his / her decision to exercise this option no earlier than 30 days before the Maturity/Expiry Date and no later than 30 days thereafter by giving the Us a written notice to such effect; and 6.12.4 A new policy shall be issued in the name of the Life Assured at his/her attained age and at the then applicable premium rate; and 6.12.5 The sum assured for the new policy shall not exceed the sum assured of the expired policy; 6.12.6 The coverage term for the new policy will be the same as the expired policy; and 6.12.7 The underwriting decision in the expired policy shall be applied to the new policy.
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Related to Guaranteed Renewability

  • Limitation on Guaranteed Obligations (a) Notwithstanding any provision herein contained to the contrary, each Guarantor’s liability hereunder shall be limited to an amount not to exceed as of any date of determination the greater of: (i) the amount of all Guaranteed Obligations, plus interest thereon at the applicable Interest Rate as specified in the Note; and (ii) the amount which could be claimed by the Collateral Agent from any Guarantor under this Guaranty without rendering such claim voidable or avoidable under the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law after taking into account, among other things, Guarantor’s right of contribution and indemnification. (b) Each Guarantor agrees that the Guaranteed Obligations may at any time and from time to time exceed the amount of the liability of such Guarantor hereunder without impairing the guaranty hereunder or affecting the rights and remedies of the Collateral Agent or any Buyer hereunder or under applicable law. (c) No payment made by the Company, any Guarantor, any other guarantor or any other Person or received or collected by the Collateral Agent or any other Buyer from the Company, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Guaranteed Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the Guaranteed Obligations or any payment received or collected from such Guarantor in respect of the Guaranteed Obligations), remain liable for the Guaranteed Obligations up to the maximum liability of such Guarantor hereunder until after all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall have been Paid in Full.

  • Guaranty Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

  • Guaranteed Obligations The Guarantor, in consideration of the execution and delivery of the Note Purchase Agreement and the purchase of the Notes by the Purchasers, hereby irrevocably, unconditionally and absolutely guarantees, on a continuing basis, to each Noteholder as and for the Guarantor’s own debt, until final and indefeasible payment of the amounts referred to in clause (a) below has been made: (a) the due and punctual payment by the Company of the principal of, and the Make-Whole Amount (if any) and interest on, the Notes at any time outstanding and the due and punctual payment of all other amounts payable, and all other Indebtedness owing, by the Company to the Noteholders under the Note Purchase Agreement and the Notes (including, without limitation, any monetary obligations incurred during the pendency of any bankruptcy, insolvency, winding-up, receivership or other similar proceeding regardless of whether allowed or allowable in such proceeding including, without limitation, interest accrued on the Notes during any such proceeding), in each case when and as the same shall become due and payable, whether at maturity, pursuant to mandatory or optional prepayment, by acceleration or otherwise, all in accordance with the terms and provisions hereof and thereof; it being the intent of the Guarantor that the guarantee set forth herein shall be a continuing guarantee of payment and not a guarantee of collection; and (b) the punctual and faithful performance, keeping, observance, and fulfillment by the Company of all duties, agreements, covenants and obligations of the Company contained in the Note Purchase Agreement and the Notes. All of the obligations set forth in clause (a) and clause (b) of this Section 2.1 are referred to herein as the “Guaranteed Obligations.”

  • Obligations Guaranteed Subject to the provisions of this Article II, the Guarantor hereby fully, unconditionally and irrevocably guarantees (a) to each Holder of a Senior Note authenticated and delivered by the Trustee or Authenticating Agent, (i) the full and prompt payment of the principal of, and premium, if any, and interest on, and any Redemption Price with respect to, such Senior Note, when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise in accordance with the terms of such Senior Note and the Indenture and (ii) the full and prompt payment of interest on the overdue principal and interest, if any, on such Senior Note, at the rate specified in such Senior Note and to the extent lawful and (b) to the Trustee the full and prompt payment upon written demand therefor of all amounts due to it in accordance with the terms of the Indenture (collectively the “Guaranteed Obligation”). If for any reason the Company shall fail punctually to pay any such Guaranteed Obligation, the Guarantor hereby agrees to cause any such Guaranteed Obligation to be made punctually when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise. All payments by the Guarantor hereunder shall be paid in lawful money of the United States of America. This Guarantee is unsecured and ranks equally in right of payment with all of the Guarantor’s existing and future senior indebtedness.

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Payment and Performance Bonds A payment bond and performance is required for a public works contract involving expenditure in excess of twenty-five thousand dollars ($25,000) and no work can be commenced prior to both bonds being approved the County. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for $60,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of $60,000, guaranteeing the faithful performance of the Contract. If at any time the value of the total task orders is expected to exceed $60,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be approved by the office of the County Counsel and the County Executive Office of Orange County. Such bonds shall be the forms provided in these specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by OC Public Works, the Contractor shall promptly furnish such additional security as may be required by OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.

  • Reinstatement of Guarantied Obligations If claim is ever made on the Administrative Agent or any other Guarantied Party for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and the Administrative Agent or such other Guarantied Party repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by the Administrative Agent or such other Guarantied Party with any such claimant (including the Borrower or a trustee in bankruptcy for the Borrower), then and in such event each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the Credit Agreement, any of the other Loan Documents, or any other instrument evidencing any liability of the Borrower, and such Guarantor shall be and remain liable to the Administrative Agent or such other Guarantied Party for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the Administrative Agent or such other Guarantied Party.

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