Common use of Initial Purchase Payment Clause in Contracts

Initial Purchase Payment. The Initial Purchase Payment is all Purchase Payments we receive on the Issue Date and is shown on the Contract Schedule. The Initial Purchase Payment cannot be greater than the Maximum Total Purchase Payments shown on the Contract Schedule. Additional Purchase Payments are Purchase Payments we receive during the Accumulation Phase and before the first Valid Claim. Additional Purchase Payments must be greater than or equal to the Minimum Additional Purchase Payment shown on the Contract Schedule. Total Purchase Payments cannot be greater than the Maximum Total Purchase Payments. Additional Purchase Payments are not required. Failure to make Additional Purchase Payments will not cause the contract to be in default.

Initial Purchase Payment. The Initial Purchase Payment is all Purchase Payments we receive on the Issue Date and is shown on the Contract Schedule. The Initial Purchase Payment cannot be greater than the Maximum Total Purchase Payments shown on the Contract Schedule. Additional Purchase Payments are Purchase Payments we receive during the Accumulation Phase and before the first Valid Claim. Additional Purchase Payments must be greater than or equal to the Minimum Additional Purchase Payment shown on the Contract Schedule. We may decline any Additional Purchase Payment. Total Purchase Payments cannot be greater than the Maximum Total Purchase Payments. Additional Purchase Payments are not required. Failure to make Additional Purchase Payments will not cause the contract to be in default.

Initial Purchase Payment. The Initial Purchase Payment is all Purchase Payments we receive on the Issue Date and is shown on the Contract Schedule. The Initial Purchase Payment cannot be greater than the Maximum Total Purchase Payments shown on the Contract Schedule. Additional Purchase Payments are Purchase Payments we receive during the Accumulation Phase and before the first Valid Claim. Additional Purchase Payments must be greater than or equal to the Minimum Additional Purchase Payment shown on the Contract Schedule. We may decline any Additional Purchase Payment. Total Purchase Payments cannot be greater than the Maximum Total Purchase Payments. Additional Purchase Payments are not required. Failure to make Additional Purchase Payments will not cause the contract to be in default...