Increases in Face Amount Sample Clauses

Increases in Face Amount. (a) If the face amount of an Insurance Policy reinsured under this Agreement increases and the increase is subject to new underwriting evidence, then (i) if the original Insurance Policy was reinsured on an automatic basis, the provisions of Section 2.1, “Automatic Reinsurance,” shall apply to the increase in reinsurance; (ii) if the original Insurance Policy was reinsured on a facultative basis, the provisions of Section 2.2, “Facultative Reinsurance,” shall apply to the increase in reinsurance; and (iii) the reinsurance premium rates applicable to such increase will be the same as for a newly issued Insurance Policy. (b) If, upon the exercise of a Guaranteed Insurability Rider attached to an Insurance Policy reinsured under this Agreement, the face amount of the Insurance Policy increases or a new insurance policy is issued and the increase or new insurance policy is not subject to new underwriting evidence (“exercise of GIR”), then the Reinsurer shall accept automatically the increase in insurance or new insurance policy providing increased coverage, up to the amount of the Reinsurer’s automatic binding limit in effect as of the date of issue of the original Insurance Policy. Reinsurance of face amount increases or new insurance policy issues resulting from the exercise of GIR shall be made in accordance with the GIR business rules shown in Exhibit A
Sample 1
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Increases in Face Amount. If the face amount of an Insurance Policy reinsured under this Agreement increases and the increase is subject to new underwriting evidence, then: (a) if the original Insurance Policy was reinsured on an automatic basis, the provisions of Section 2.1, “Automatic Reinsurance,” shall apply to the increase in reinsurance; (b) if the original Insurance Policy was reinsured on a facultative basis, the provisions of Section 2.2, “Facultative Reinsurance,” shall apply to the increase in reinsurance; and (c) the reinsurance premium rates applicable to such increase will be the same as for a newly issued Insurance Policy.
Sample 1
Increases in Face Amount. 1. For the purposes of determining additional first year compensation on increases, renewal premiums will be allocated to segments by attributing all premiums in a given year to the original segment up to the CTP for that segment. Then premium is allocated to the next oldest segment up to its CTP, and so on. Any premium remaining after all CTP's have been satisfied is compensated as excess premium. Any premium that has been allocated to the CTP for the current increase segment will receive additional first year compensation on the following schedule: Commission Percent ------------------ 50% 2. For increases within 12 months of a decrease, compensation is as described in above only for the excess of the new face amount over the highest previous face amount.
Sample 1
Increases in Face Amount. For the purposes of determining additional first year compensation on increases, renewal premiums will be allocated to segments by attributing all premiums in a given year to the original segment up to the CTP. for that segment. Then premium is allocated to the next oldest segment up to its CTP, and so on. Any premium remaining after all CTP's have been satisfied is compensated as excess premium. Any premium that has been allocated to the CTP for the current increase segment will receive additional first year compensation on the following schedule: Policy Years Commission Percent ------------ ------------------ 2-10 55.00% and ERA of 31.00% 11 and after 55.00% and ERA of 33.50%
Sample 1

Related to Increases in Face Amount

  • Limitation on Aggregate Principal Amount The aggregate principal amount of the Notes shall not be limited. The Company shall not execute and the Trustee shall not authenticate or deliver Notes except as permitted by the terms of the Indenture.

  • A M E N D M E N T For good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree to amend the Agreement as follows:

  • Maximum Drawing Amount The maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit.

  • Fee Increases S&P reserves the right to increase its fees under this Order Schedule effective on the anniversary of the Commencement Date by providing at least sixty (60) days advance written notice to Licensee prior to the expiration of the Term then in effect.

  • Purchases as Principal Each sale of Notes to the Agent as principal shall be made in accordance with the terms of this Agreement and the Agent and the Company will enter into a Terms Agreement that will provide for the sale of such Notes to and the purchase thereof by the Agent. Each "Terms Agreement" may take the form of an exchange of any form of written telecommunication or oral communication followed by written confirmation or telecommunication between the Agent and the Company and shall be with respect to such information (as applicable) as is specified in Exhibit A hereto. The Agent's commitment to purchase Notes as principal shall be deemed to have been made on the basis of the representations and warranties of the Company herein contained and shall be subject to the terms and conditions herein set forth. Each agreement by the Agent to purchase Notes as principal (whether or not set forth in a Terms Agreement) shall specify the principal amount of Notes to be purchased by the Agent pursuant thereto, the maturity date of such Notes, the price to be paid to the Company for such Notes, the interest rate and interest rate formula, if any, applicable to such Notes and any other terms of such Notes. Each such agreement shall also specify any requirements for officers' certificates, opinions of counsel and letters from the independent public accountants of the Company pursuant to Section 4 hereof. A Terms Agreement may also specify certain provisions relating to the reoffering of such Notes by the Agent. Each Terms Agreement shall specify the time and place of delivery of and payment for such Notes. Each date of delivery of and payment for Notes to be purchased by the Agent as principal or as agent or by any other purchaser is referred to herein as a "Settlement Date." Upon the Company's request, the Agent will notify the Company either orally or in writing (as specified by the Company) of the aggregate principal amount of Notes held by the Agent as principal purchased pursuant to a Terms Agreement pursuant to this Agreement.

  • Commitment Fees, etc (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee for the period from and including the date hereof to the last day of the Revolving Commitment Period, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on each Fee Payment Date, commencing on the first such date to occur after the date hereof. (b) The Borrower agrees to pay to the Administrative Agent the fees in the amounts and on the dates as set forth in any fee agreements with the Administrative Agent and to perform any other obligations contained therein.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Maximum Amount In consideration of the services to be performed by Contractor, the State agrees to pay Contractor, in accordance with the payment provisions specified in Attachment B, a sum not to exceed $250,000.00.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Payment of Outstanding Indebtedness, etc The Administrative Agent shall have received evidence that immediately after the making of the Loans on the Closing Date, all Indebtedness under the Existing Credit Agreement and any other Indebtedness not permitted by Section 7.04, together with all interest, all payment premiums and all other amounts due and payable with respect thereto, shall be paid in full from the proceeds of the initial Credit Event, and the commitments in respect of such Indebtedness shall be permanently terminated, and all Liens securing payment of any such Indebtedness shall be released and the Administrative Agent shall have received all payoff and release letters, Uniform Commercial Code Form UCC-3 termination statements or other instruments or agreements as may be suitable or appropriate in connection with the release of any such Liens.

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