Purchase of Contracts. To apply for, purchase, hold, transfer, surrender and exercise all incidents of ownership of any insurance, re-insurance, excess or stop loss insurance or annuity contract that the Trust Committee determines or the Investment Committee directs it to purchase or that is necessary or appropriate to carrying out the purposes of the Plan. The Trust Committee shall endeavor to obtain stop loss insurance to provide coverage for payment of benefits under the Plan above specified per claim and aggregate limits, provided such stop loss coverage can be obtained at a reasonable cost as determined by the Trust Committee.
Purchase of Contracts. Each purchase shall be subject to the following terms and conditions: (a) agreement of the price by UMC and Provider for the Contract (“Purchase Price”); (b) Provider’s execution and delivery to UMC of a Completion Statement, Bill of Sale and Assignment (collectively, “Assignment”) form, which shall include a warranty that the services financed by Provider have been competently performed, or delivery of the services have commenced, within thirty (30) days of the date of the Contract; (c) delivery of the signed Contract and any other required supporting documentation (e.g. copy of government-issued photo identification, proof of income) to UMC; and (d) delivery to UMC of a copy of Provider’s physician license in good standing.
Purchase of Contracts. Subject to the terms and conditions of this Agreement during the Term, MFS shall have the option, but not the obligation, in its sole discretion on a case by case basis, to purchase all of SELLER'S rights, title and interest in and to the Contracts submitted by SELLER to MFS. Upon the execution of a Contract, SELLER shall provide to MFS the Contract/Credit Application. Upon receipt thereof, MFS shall review the Contract/Credit Application and shall notify SELLER whether it elects to exercise its option to purchase such Contract by delivery of written notice to SELLER within ten (10) days after MFS's receipt of the Contract/Credit Application. If MFS exercises its right to purchase a Contract, SELLER shall submit a Final Contract/Credit Application to MFS. MFS's obligation to purchase any Contracts shall be conditioned upon MFS's receipt of a complete Final Contract/Credit Application with respect thereto in form and substance acceptable to MFS. In no event shall MFS assume or be delegated any of SELLER's duties, responsibilities, liabilities or obligations to the Customer under any Contract and SELLER shall remain liable therefor notwithstanding an assignment of a Purchased Contract to MFS. The parties agree that MFS shall be entitled to directly receive and retain any and all amounts due and payable under the Purchased Contracts. All Purchased contracts shall be sold to MFS subject to the representations, warranties, covenants, agreements, terms and conditIons set forth in this Agreement, and shall be accompanied by an Irrevocable Assignment, substantially in the form attached hereto as Exhibit A, SELLER acknowledges and agrees that MFS shall be entitled to elect not to purchase or service any Contract for any reason whatsoever in its sole and absolute discretion.
Purchase of Contracts. To apply for, purchase, hold, transfer, surrender and exercise all incidents of ownership of any life insurance or annuity contract (but not a contract for a life annuity unless the Plan provides for the distribution of benefits in such form) which the Employer directs it to purchase;
Purchase of Contracts. To apply for, purchase, hold, transfer, surrender and exercise all incidents of ownership of any insurance, re-insurance, excess or stop loss insurance or annuity contract that the Board of Trustees determines to purchase or that is necessary or appropriate to carrying out the purposes of the Plan. The Board of Trustees shall endeavor to obtain stop loss insurance to provide coverage for payment of benefits under the Plan above specified per claim and aggregate limits, provided such stop loss coverage can be obtained at a reasonable cost as determined by the Board of Trustees.
Purchase of Contracts. Dealer shall from time to time offer to sell to Credit Union certain Contracts entered into by Dealer with its customers (“Buyers”). Credit Union in its sole discretion may refuse to purchase any Contract in accordance with Credit Union’s normal standards of creditworthiness, or if any required documents are incomplete or deficient in any way. All applications and documents, including the Contract, shall be in such form as prescribed by Credit Union, and as may be changed from time to time. Credit Union shall buy Contracts from Dealer by paying the Purchase Price to the Dealer. Credit Union is authorized to accept applications and assignments of Contracts from any person holding him or herself out to be a representative of Dealer. Credit Union shall pay the Purchase Price to Dealer on the Purchase Date.
Purchase of Contracts. Dealer is under no obligation to sell and Company is under no obligation to buy any Contracts. With respect to the purchase of any Contract, Company will promptly pay to Dealer the Purchase Price communicated to Dealer in accordance with the F&I Program, as amended from time to time. Dealer agrees that the F&I Program may be amended by Company in its sole discretion, and Dealer’s acceptance of such amendment will be evidenced by the sale of a Contract to Company, or sale of an F&I Product marketed by Company to a Buyer or prospective Buyer on behalf of Dealer on or after the effective date of such amendment.
Purchase of Contracts. The Borrower shall not purchase or accept the contribution of any Contracts or Contract Assets which are not purchased using the proceeds of a Loan, unless (i) at the time of such purchase or contribution of Contracts or Contract Assets there is a Borrowing Base Deficiency and such Borrowing Base Deficiency would be cured after giving effect to such purchase or contribution or such purchase or contribution is effectuated to prevent the imminent occurrence of a Borrowing Base Deficiency, (ii) such purchase or contribution is effectuated in consideration of a combination of cash and equity, solely to the extent that cash proceeds of a Loan are not available therefor, as contemplated by Section 2.01(c) of the Receivables Sale Agreement, or (iii) the Borrower has obtained the prior written consent of the Program Agent (such consent not to be unreasonably withheld, conditioned or delayed).
Purchase of Contracts. Prior to JMAC's acceptance of a Contract for --------------------- purchase, JMAC and Provider will mutually agree upon the price to be paid by JMAC for the Contract (the "PURCHASE PRICE"). JMAC will pay to Provider the Purchase Price for a Contract following JMAC's acceptance of the Contract for purchase pursuant to Section 1.2. Upon payment of the Purchase Price with ----------- respect to a Contract, (a) Provider will have sold to JMAC all of Provider's right, title and interest in and to, and Provider will no longer have any right, title or interest in and to, such Contract (including, but not limited to, all payments on or collections with respect to such Purchased Contract), and (b) such Contract will become a "PURCHASED CONTRACT" for purposes of this Agreement.
Purchase of Contracts. The Trustee, upon written direction of the Company prior to a Change in Control, shall pay from the Trust such sums to such insurance company or companies as the Company may direct for the purpose of procuring participating or nonparticipating insurance and/or annuity contracts for the Plans (hereinafter referred to as “Contracts”). The Company shall prepare, or cause to be prepared in such form as it shall prescribe, the application for any Contract. The Trustee shall receive and hold in the Trust all Contracts so obtained. Sonoco Products Company
