MORTALITY RISK Sample Clauses

MORTALITY RISK. In consideration of the Mortality Risk retained by the Company, the Company shall retain premiums received under the Life Insurance Contracts in an amount that shall be calculated on a monthly basis. The amount of premium retained by the Company shall be calculated at the beginning of each calendar month based upon the Mortality Risk of each of its Life Insurance Contracts in force as of the close of the last Business Day of the prior calendar month and mortality rates from the 1985-1990 Society of Actuaries modified Basic Select and Ultimate sex distinct tables on an "age last birthday" basis ("SOA Tables") multiplied by up to four separate tables of scalar factors. The SOA Tables and scalar factor tables are attached to the Purchase Agreement as Exhibit G. The monthly premium for standard business is determined for each such Life Insurance Contract by multiplying: (1) 1/12th of the rate determined by reference to the applicable SOA Table; by (2) the applicable scalar factor from each of the four scalar factor tables; by (3) the Mortality Risk for that Life Insurance Contract as of the close of the last Business Day of the prior calendar month. The monthly premium for substandard business is determined for each such Life Insurance Contract and is the sum of: (1) the monthly premium as determined for the standard business as described above; and (2) 1/12th of the rate determined by reference to the applicable SOA Table for standard business, multiplied by (x) the total mortality rating (i.e., 100% plus any applicable substandard mortality rating) less 100%; (y) the applicable scalar factor from each of scalar 1 and scalar 3; and (z) the Mortality Risk for that Life Insurance Contract as of the close of the last Business Day of the prior calendar month. In addition to the foregoing amounts, the Company shall retain a monthly premium for any Accidental Death Benefit Risk in an amount equal to 1/12th of $0.50 per $1,000 of Accidental Death Benefit in force as of the close of the last Business Day of the prior calendar month. The Accelerated Death Benefit under the Life Insurance Contracts is an amount equal to 94% of the death benefit under the Life Insurance Contract (88% in Washington and 96% in New Jersey). The Company shall pay Reinsurer upon payment of an Accelerated Death Benefit a portion of the difference between the Accelerated Death Benefit amount and the death benefit under the Life Insurance Contract if the Accelerated Death Benefit had not been e...
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Related to MORTALITY RISK

  • Country Risk Country Risk shall mean, with respect to the acquisition, ownership, settlement or custody of Investments in a jurisdiction, all risks relating to, or arising in consequence of, systemic and markets factors affecting the acquisition, payment for or ownership of Investments including (a) the prevalence of crime and corruption, (b) the inaccuracy or unreliability of business and financial information, (c) the instability or volatility of banking and financial systems, or the absence or inadequacy of an infrastructure to support such systems, (d) custody and settlement infrastructure of the market in which such Investments are transacted and held, (e) the acts, omissions and operation of any Securities Depository, (f) the risk of the bankruptcy or insolvency of banking agents, counterparties to cash and securities transactions, registrars or transfer agents, and (g) the existence of market conditions which prevent the orderly execution or settlement of transactions or which affect the value of assets.

  • Liquidity Risk Measurement Services Not Applicable.

  • Insurance and Risk of Loss All risk of loss, damage to or destruction of the Collateral shall at all times be on Debtor. Debtor will procure forthwith and maintain at Debtor's expense insurance against all risks of loss or physical damage to the Collateral for the full insurable value thereof for the life of this Security Agreement plus breach of warranty insurance and such other insurance thereon in amounts and against such risks as Secured Party may specify, and shall promptly deliver each policy to Secured Party with a standard long-form mortgagee endorsement attached thereto showing loss payable to Secured Party; and providing Secured Party with not less than 30 days written notice of cancellation; each such policy shall be in form, terms and amount and with insurance carriers satisfactory to Secured Party; Secured Party's acceptance of policies in lesser amounts or risks shall not be a waiver of Debtor's foregoing obligations. As to Secured Party's interest in such policy, no act or omission of Debtor or any of its officers, agents, employees or representatives shall affect the obligations of the insurer to pay the full amount of any loss. Debtor hereby assigns to Secured Party any monies which may become payable under any such policy of insurance and irrevocably constitutes and appoints Secured Party as Debtor's attorney in fact (a) to hold each original insurance policy, (b) to make, settle and adjust claims under each policy of insurance, (c) to make claims for any monies which may become payable under such and other insurance on the Collateral including returned or unearned premiums, and (d) to endorse Debtor's name on any check, draft or other instrument received in payment of claims or returned or unearned premiums under each policy and to apply the funds to the payment of the indebtedness owing to Secured Party; provided, however, Secured Party is under no obligation to do any of the foregoing. Should Debtor fail to furnish such insurance policy to Secured Party, or to maintain such policy in full force, or to pay any premium in whole or in part relating thereto, then Secured Party, without waiving or releasing any default or obligation by Debtor, may (but shall be under no obligation to) obtain and maintain insurance and pay the premium therefor on behalf of Debtor and charge the premium to Debtor's indebtedness under this Security Agreement. The full amount of any such premium paid by Secured Party shall be payable by Debtor upon demand, and failure to pay same shall constitute an event of default under this Security Agreement.

  • Builder’s Risk During any period of construction or Restoration, builder’s risk Insurance (including fire and other perils within the scope of a policy known as “Causes of Loss – Special Form” or “All Risk” policy) in an amount not less than the sum of the related contractual arrangements.

  • Engines POSITION SERIAL NO. TOTAL HOURS TOTAL CYCLES HRS/CYCLES SINCE LAST SHOP VISIT Time Remaining to Next LIFE LIMITED PART REMOVAL PART NAME HOURS CYCLES MSN MSN

  • Builder’s Risk Insurance At all times during which structural construction, repairs or alterations are being made with respect to the Improvements (A) owner's contingent or protective liability insurance covering claims not covered by or under the terms or provisions of the above mentioned commercial general liability insurance policy; and (B) the insurance provided for in Subsection 3.3(a)(i) written in a so-called builder's risk completed value form (1) on a non-reporting basis, (2) against all risks insured against pursuant to Subsection 3.3(a)(i), (3) including permission to occupy the Property, and (4) with an agreed amount endorsement waiving co-insurance provisions; and

  • Quality Specifications SANMINA-SCI shall comply with the quality specifications set forth in its Quality Manual, incorporated by reference herein, a copy of which is available from SANMINA-SCI upon request.

  • Quality Service Standards/NAV Errors Price Associates and the Fund may, from time to time, agree to certain quality service standards, with respect to the Services hereunder. In the event Price Associates is the party responsible for causing an error in the computation of the net asset value for a Fund or share class of a Fund (“NAV Error”), the actions that are required to be taken as to such NAV Error shall be made in accordance with the Fund’s Net Asset Value Error Correction Policy and Procedures (“NAV Error Policy”) attached hereto as Schedule II.

  • Mission Payload The payload for a stage length of [*] nautical miles in still air (equivalent to a distance of [*] nautical miles with a [*] wind, representative of a [*] route in [*]) using the conditions and operating rules defined below, shall not be less than the following guarantee value: NOMINAL: [*]0 Kilograms TOLERANCE: [*] Kilograms GUARANTEE: [*] Kilograms

  • Quality Service Standards Price Services and the Fund may from time to time agree to certain quality service standards, as well as incentives and penalties with respect to Price Services’ Services hereunder.

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