Life Policies Sample Clauses

Life Policies. (a) The Administrator shall use its reasonable endeavours to ensure that upon maturity of a Life Policy or on the death of a Borrower, if earlier, all sums which it is agreed between the Seller and the relevant Borrower are due to be paid under the Life Policy are paid by the relevant insurance company in repayment of the Mortgage for which such Life Policy is collateral security and credited to the relevant Collection Account. (b) If so requested by a Borrower the Administrator may, on behalf of the Beneficiaries, exercise its discretion as a reasonable and prudent mortgage lender to agree to the release of a Life Policy from the relevant legal or equitable charge granted by the related Borrower in favour of the Seller.
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Life Policies. A life policy is a form of pooled investment offered by a life insurance company. The insurance company accumulates money from the policy holder (and its other policy holders). The policy is a contract that promises certain things, such as to provide life insurance which pays a fixed sum of money if the insured dies before the end of the policy. The company also promises to invest the money – for example in shares or bonds – with the aim of making it grow enough to provide the policy holder with a lump sum at maturity. You can invest by buying life policies in the secondary market and taking on the obligation to make regular contributions (called premiums) in return for being entitled to receive the proceeds of that policy. When you invests in a policy with regular premiums there is usually a fixed term, and cashing in before the end of the term can involve penalties. An alternative way to realise the investment in the policy (and avoid having to pay penalties) is to sell the policy in the secondary market to a buyer who takes on the obligation to pay the premiums. This may enable you to realise your investment at a higher value than you would by surrendering the policy to the insurance company. However, there is no official secondary market for such policies and no guarantees that a buyer will be found. The secondary market value of any policy will depend on a number of factors including its remaining term and the age and health of the insured. When you purchase a life assurance policy, a proportion of the premiums it pays to the insurance company will be used to buy life assurance that pays a fixed sum of money if the insured dies before the end of the policy. The insurance company will spend part of each contribution made to meet its costs. As with open-ended Collective Investment Schemes, a life insurance company pools its money and invests in one or more of the asset classes. The insurance company promises to pay the policy holder, as described in the policy, part of the money it makes from that investment. The insurance company organises its investments into funds and it will usually allow the policy holder to choose which fund(s) it wants to share in. There are usually a number of funds to choose from within the policy, for example, shares (UK and overseas), bonds, property, and cash deposits. Similarly, there are usually funds which invest across different asset classes and these are usually called managed funds. Most life policies allow the policy...
Life PoliciesThe Administrator shall use its reasonable endeavours to ensure that upon maturity of a Life Policy or on the death of a Borrower, if earlier, all sums which it is agreed between the Seller or the relevant Originator (as the case may be) and the relevant Borrower are due to be paid under the Life Policy are paid by the relevant insurance company in or towards repayment of the Mortgage Loan for which such Life Policy is collateral security and credited to the Collection Account.
Life Policies. (a) The Administrator shall use its reasonable endeavours to ensure that upon maturity of a Life Policy or on the death of a Borrower, if earlier, all sums which it is agreed between the Seller and the relevant Borrower are due to be paid under the Life Policy are paid by repayment of the Mortgage for which such Life Policy is collateral security and credited to the relevant Collection Account. (b) If so requested by a Borrower the Administrator may, on behalf of the Beneficiaries, exercise its discretion as a reasonable and prudent mortgage lender to agree to the release of a Life Policy from the relevant legal or equitable charge granted by the related Borrower in favour of the Seller.
Life Policies. The Reinsured Life Policies listed on Schedule 1-A and the supplements thereto include all Contracts that are life insurance policies (other than the Contracts ceded to Integrity Life Insurance Company) in effect on March 31, 1998, May 31, 1998 or June 30, 1998, as applicable. The Non New York Reinsured Life Policies listed on Schedule 1-B and the supplements thereto include all Contracts that are life insurance policies (other than the Contracts ceded to Integrity Life Insurance Company) and are in effect on March 31, 1998, May 31, 1998 or June 30, 1998, as applicable, issued to Policyholders Resident as of such date in jurisdictions other than New York, and the New York Reinsured Life policies listed on Schedule 1-C and the supplements thereto include all Contracts that are life insurance policies (other than the Contracts ceded to Integrity Life Insurance Company) and are in effect on March 31, 1998, May 31, 1998 or June 30, 1998, as applicable, issued to Policyholders Resident as of such date in New York. The Reinsured Life Policies listed on the updated Schedule 1-A, the Non New York Reinsured Life Policies listed on the updated Schedule 1-B and the New York Reinsured Life Policies listed on the updated Schedule 1-C, each as delivered by the Seller following each of the Closing Date and the New York Assumption Date as provided in Section 2.12.1(c), will include all Contracts that are life insurance policies (other than the Contracts ceded to Integrity Life Insurance Company) and are in effect on the Closing Date and the New York Assumption Date, respectively, issued to all Policyholders or to Policyholders Resident as of the applicable date in the specified jurisdictions, and will include updated information in each category set forth in Section 2.12.1(b) and all additional information required pursuant to Section 2.12.1(c).
Life PoliciesThe Borrowers shall, and shall cause the Policy Subsidiary to, maintain the Life Policies in full force and effect.

Related to Life Policies

  • Leave Policies 13 5.01 Sick Leave .................................................................. 13 5.011 Entitlement ........................................................ 13 5.012 Accumulation ..................................................... 13 5.013 Reasons ............................................................ 13 5.014 Sick Leave Advance .......................................... 14 5.015 Statement .......................................................... 14 5.016 Falsification ....................................................... 14 5.02

  • Other Insurance Policies No action, inaction or event has occurred and no state of facts exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by Seller or by any officer, director, or employee of Seller or any designee of Seller or any corporation in which Seller or any officer, director, or employee had a financial interest at the time of placement of such insurance.

  • Umbrella Policies Contractor may satisfy basic coverage limits through any combination of basic coverage and umbrella insurance.

  • Maintenance of Insurance Policies The Servicer shall, in accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance with its customary practices, policies and procedures, track such physical damage insurance with respect to each Receivable.

  • Insurance Plans The Executive is eligible to participate in the life, health, dental, short and long-term disability plans made available to the employees of the Company pursuant to the terms and conditions of such plans.

  • Insurance Policies Insurance required herein shall be by companies duly licensed or admitted to transact business in the state where the Premises are located, and maintaining during the policy term a "General Policyholders Rating" of at least B+, V, as set forth in the most current issue of "Best's Insurance Guide", or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to modification except after thirty (30) days prior written notice to Lessor. Lessee shall, at least thirty (30) days prior to the expiration of such policies, furnish Lessor with evidence of renewals or "insurance binders" evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same.

  • Personnel Policies The School shall adopt, update, and adhere to personnel policies. These policies must be made readily accessible from the School’s website or school office, as described in Section 11.4. 1. If the policy is not available from the School’s website, the School shall submit the current policy to the Commission.

  • Alcohol Policy Where contractually bound, the employer will apply the Drug and Alcohol Management Program (DAMP) as contained at Appendix M.

  • Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage (a) In the case of each Serviced Mortgage Loan or Serviced Loan Combination, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to cause the related Borrower to maintain (including identifying the extent to which a Borrower is maintaining insurance coverage and, if such Borrower does not so maintain, the Master Servicer will itself cause to be maintained with Qualified Insurers having the Required Claims-Paying Ratings) for the related Mortgaged Property (x) a fire and casualty extended coverage insurance policy, which does not provide for reduction due to depreciation, in an amount that is at least equal to the lesser of (i) the full replacement cost of improvements securing such Serviced Mortgage Loan or Serviced Loan Combination or (ii) the outstanding principal balance of such Serviced Mortgage Loan or Serviced Loan Combination, but, in any event, in an amount sufficient to avoid the application of any co-insurance clause and (y) all other insurance coverage (including but not limited to coverage for damage resulting from acts of terrorism) as is required or (subject to the Servicing Standard) that the lender is entitled to reasonably require, subject to applicable law, under the related Mortgage Loan Documents; provided that all of the following conditions and/or limitations shall apply: (A) the Master Servicer shall not be required to maintain any earthquake or environmental insurance policy on any Mortgaged Property securing a Serviced Mortgage Loan or Serviced Loan Combination unless such insurance policy was in effect at the time of the origination of such Serviced Mortgage Loan or Serviced Loan Combination pursuant to the terms of the related Mortgage Loan Documents and is available at commercially reasonable rates and the Trustee has an insurable interest; (B) if and to the extent that any Serviced Mortgage Loan or Serviced Loan Combination grants the lender thereunder any discretion (by way of consent, approval or otherwise) as to the insurance provider from whom the related Borrower is to obtain the requisite insurance coverage, the Master Servicer shall (to the extent consistent with the Servicing Standard) use efforts consistent with the Servicing Standard to cause the related Borrower to obtain the requisite insurance coverage from Qualified Insurers that, in each case, have the Required Claims-Paying Ratings at the time such insurance coverage is obtained; (C) the Master Servicer shall have no obligation beyond using its reasonable efforts consistent with the Servicing Standard to cause the Borrower under any Serviced Mortgage Loan to maintain the insurance required to be maintained or that the lender is entitled to reasonably require, subject to applicable law, under the related Mortgage Loan Documents; (D) in no event shall the Master Servicer be required to cause the Borrower under any Serviced Mortgage Loan to maintain, or itself obtain, insurance coverage that the Master Servicer has determined is either (i) not available at any rate or (ii) not available at commercially reasonable rates and the related hazards are not at the time commonly insured against at the then-available rates for properties similar to the related Mortgaged Property and located in or around the region in which the related Mortgaged Property is located;

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

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