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. 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. 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 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 82 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

  • 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.

  • 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.

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