ISSUE AGES Sample Clauses

ISSUE AGES i. Super Preferred Non-Smoker: 20-80
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ISSUE AGES. The minimum issue age is 18; the maximum issue age for automatic reinsurance is 72. In addition, 75% of all participants in the case must be at or below issue age 60. Maximum Face Amounts (Automatic Issue Limits) The face amounts per life cannot exceed the following: >> Initial: $35,000 times the total number of lives up to $3,500,000 >> Ultimate*: $70,000 times the total number of lives up to $7,000,000 * Ultimate face amount includes the initial face amount plus any increases. Automatic Binding Limits Therefore, the maximum face amounts per life that may be automatically ceded to the REINSURER are: >> Initial: 26.67% * Maximum Initial Face Amount >> Ultimate: 26.67% * Maximum Ultimate Face Amount Stacking Limits The amounts of Simplified Issue and Guaranteed issue in force and applied for across any and all companies on a single life cannot exceed the lesser of three times the automatic issue limit or $10 million. Non-US/Canadian Resident Limits Face amounts for Non-US/Canadian work addresses cannot exceed 5% of the Simplified or Guaranteed Issue case face amounts. Location Limits (Per Case) The total initial face amount subject to reinsurance with the pool at a single location cannot exceed $100 million. Projected Net Amount at Risk Limits For each life, the net amount at risk projected at issue cannot exceed the amount shown above for the maximum ultimate face amount. The projected net amount at risk is determined from the primary illustration provided by THE COMPANY during the sales process. If the net amount at risk projected at issue exceeds the US/Canadian Resident limits, then facultative reinsurance must be pursued. Other Conditions Pooled cases and cases involving negative consent are ineligible for automatic reinsurance. Guaranteed Issue Minimum Number of Lives Guaranteed Issue cases must include at least 25 lives.
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ISSUE AGES. The minimum issue age is 18; the maximum issue age for automatic reinsurance is 72. In addition, 75% of all participants in the case must be at or below issue age 60.
Sample 1
ISSUE AGES. The minimum issue age is 18; the maximum issue age for automatic reinsurance is 69. In addition, 75% of all participants in the case must be at or below issue age 55. Maximum Face Amounts (Automatic Issue Limits) The face amounts per life cannot exceed the following: >> Initial: $35,000 times the total number of lives up to $3,500,000 >> Ultimate: $70,000 times the total number of lives up to $7,000,000 Automatic Binding Limits Therefore, the maximum face amounts per life that may be automatically ceded to the REINSURER are: >> Initial: 53.33% * Maximum Initial Face Amount >> Ultimate: 55.33% * Maximum Ultimate Face Amount Stacking Limits The amounts of Simplified Issue and Guaranteed Issue in force and applied for across any and all companies on a single life cannot exceed the lesser of three times the automatic issue limit or $10 million. Non-US/Canadian Resident Limits Face amounts for Non-US/Canadian work addresses cannot exceed 5% of the Simplified or Guaranteed Issue case face amounts. Location Limits (Per Case) The total initial face amount subject to reinsurance with the pool at a single location cannot exceed $87.5 million. THE REINSURER's share of the initial case face amount must not exceed $46,663,750. All cases with Manhattan, New York City risks must be submitted facultatively. Projected Net Amount at Risk Limits For each life, the net amount at risk projected at issue cannot exceed the amount shown above for the maximum ultimate face amount. The projected net amount at risk is determined from the primary illustration provided by THE COMPANY during the sales process. If the net amount at risk projected at issue exceeds the US/Canadian Resident limits, then facultative reinsurance must be pursued. Other Conditions Pooled cases and cases involving negative consent are ineligible for automatic reinsurance.
Sample 1
ISSUE AGES. Plans Issue Ages Executive UL 0-85 Indexed UL 0-85 Issue ages 0 to 15 will be reinsured at the Standard Non Tobacco rates as shown in Exhibit E.1. Issue ages 16 to 17 will be reinsured at either the Standard Non Tobacco or Standard Tobacco rates as shown in Exhibit E.1. EXHIBIT C Forms, Manuals and Issue Rules The Ceding Company affirms that the following have been supplied to the Reinsurer and are in use as of the effective date of this Agreement:
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Related to ISSUE AGES

  • Original Issue of Notes The Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such Notes as in such Company Order provided.

  • ORIGINAL ISSUE OF DEBENTURES Debentures in the aggregate principal amount of $ may, upon execution of this First Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Debentures to or upon the written order of the Company, signed by its Chairman, its Vice Chairman, its President, or any Vice President and its Treasurer or an Assistant Treasurer, without any further action by the Company.

  • Issue Date The provisions of this Warrant shall be construed and shall be given effect in all respect as if it had been issued and delivered by the Company on the date hereof.

  • Issue of Notes A new series of Securities is to be issued under the Indenture as supplemented by this Supplemental Indenture. The series shall be titled the “8.875% Senior Notes due 2022.”

  • Distribution of Interest Payments by Issuing Lender Promptly upon receipt by any Issuing Lender of any payment of interest pursuant to subsection 3.3D(i) with respect to a drawing honored under a Letter of Credit issued by it, (a) such Issuing Lender shall distribute to each other Lender, out of the interest received by such Issuing Lender in respect of the period from the date such drawing is honored to but excluding the date on which such Issuing Lender is reimbursed for the amount of such drawing (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B), the amount that such other Lender would have been entitled to receive in respect of the letter of credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to subsection 3.2 if no drawing had been honored under such Letter of Credit, and (b) in the event such Issuing Lender shall have been reimbursed by other Lenders pursuant to subsection 3.3C(i) for all or any portion of such honored drawing, such Issuing Lender shall distribute to each other Lender which has paid all amounts payable by it under subsection 3.3C(i) with respect to such honored drawing such other Lender's Pro Rata Share of any interest received by such Issuing Lender in respect of that portion of such honored drawing so reimbursed by other Lenders for the period from the date on which such Issuing Lender was so reimbursed by other Lenders to but excluding the date on which such portion of such honored drawing is reimbursed by Company. Any such distribution shall be made to a Lender at its primary address set forth below its name on the appropriate signature page hereof or at such other address as such Lender may request.

  • Original Issue of Stock Certificates On the Date of Original Issue for any share of AMPS, one certificate for each series of AMPS shall be issued by the Company and registered in the name of Cede & Co., as nominee of the Securities Depository, and countersigned by the Paying Agent. The Company will give the Auction Agent prior written notice and instruction as to the issuance and redemption of AMPS.

  • Issue Price (9) Selling Agent’s commission or Purchasing Agent’s discount, as the case may be;

  • Preference Issues If any Senior Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of the Company or any other Grantor (or any trustee, receiver or similar Person therefor), because the payment of such amount was declared to be fraudulent or preferential in any respect or for any other reason, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of setoff or otherwise, then the Senior Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the Senior Secured Parties shall be entitled to the benefits of this Agreement until a Discharge of Senior Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, hereby agrees that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement.

  • Commitment to Issue Letters of Credit Subject to the terms ------------------------------------- and conditions hereof and the execution and delivery by the Borrower of a letter of credit application on the Agent's customary form (a "Letter of Credit Application"), the Agent on behalf of the Banks and in reliance upon the agreement of the Banks set forth in (S)5.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower and agreed to by the Agent; provided, however, -------- ------- that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $5,000,000 at any one time and (b) the sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans outstanding shall not exceed the lesser of (A) the Total Commitment and (B) the Borrowing Base. Notwithstanding the foregoing, the Agent shall have no obligation to issue any Letter of Credit to support or secure any Indebtedness of the Borrower or any of its Subsidiaries to the extent that such Indebtedness was incurred prior to the proposed issuance date of such Letter of Credit, unless in any such case the Borrower demonstrates to the satisfaction of the Agent that (x) such prior incurred Indebtedness were then fully secured by a prior perfected and unavoidable security interest in collateral provided by the Borrower or such Subsidiary to the proposed beneficiary of such Letter of Credit or (y) such prior incurred Indebtedness were then secured or supported by a letter of credit issued for the account of the Borrower or such Subsidiary and the reimbursement obligation with respect to such letter of credit was fully secured by a prior perfected and unavoidable security interest in collateral provided to the issuer of such letter of credit by the Borrower or such Subsidiary.

  • Original Issue Discount Security 13 Outstanding...................................................13

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