Rate Guarantee. An employee whose job is directly eliminated by a transfer of work, the discontinuance of a discrete, unreplaced product line, the introduction of a robot, or the introduction of an automated manufacturing machine shall be paid on any job to which transferred or recalled in the plant at a rate not less than the regular hourly rate of the job eliminated for up to seventy-eight
Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any Covered Policy. Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption.
B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following:
(a) reinsurance became effective on new policies issued after 1/1/1997
(b) Reinsurer has the right to raise reinsurance premiums;
(c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty;
(d) policies were underwritten on a fully underwritten basis; and
(e) policies have similar product features as those provided in the policies reinsured herein.
C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve a...
Rate Guarantee. The Company’s direct premiums are fully guaranteed for the life of the policy. Likewise, the reinsurance allowances set out in this Exhibit are guaranteed for the life of the policy.
Rate Guarantee. The reinsurance rates set out in this Exhibit are guaranteed for the first policy year. In subsequent policy years, the Reinsurer reserves the right to increase the premiums for reinsurance but not above the statutory net valuation premium applicable to the Reinsured Policies after increase. If the Reinsurer exercises its right to increase reinsurance premiums under this Agreement in an amount greater than that required to ensure that the Reinsurer will participate in its share of any increases in premium rates, costs, charges or fees as implemented by the Company for the Reinsured Policies, the Company may recapture all of the Reinsured Policies on which reinsurance rates have been increased regardless of the Reinsured Policies’ duration in force. If the Company elects to recapture reinsurance under this provision, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance. (QT20102US19)
Rate Guarantee. The YRT reinsurance rates are guaranteed for one year and are guaranteed not to exceed the U.S. statutory net valuation premium applicable to the reinsured policies, calculated using the appropriate guaranteed mortality table and interest assumption. The Reinsurer may increase reinsurance premiums by providing written notice to the Company within 60 days prior to the date that the increase is to be put into effect, provided any increase will only be implemented pursuant to a [*]. At any time during the twelve month period following such an increase in reinsurance premiums as outlined above, the Company shall have the right, at its option, to recapture all, but not less than all, of the Reinsured Policies on which reinsurance premiums have been so increased, regardless of the issue date.
Rate Guarantee. While Cologne anticipates continuing to accept premiums on the basis of the attached rates, Cologne can only guarantee that the life reinsurance premium rates payable under this Agreement shall not exceed the one-year term net premiums computed on the 1958 CSO Mortality Table using 3% interest and continuous functions. Exchange to Other Plan of Insurance: First year rates will apply to any policy on which the Ceding Company has (a) obtained full current underwriting evidence on the full amount, which is satisfactory to Cologne, (b) full normal commissions are paid for the new plan and (c) the Suicide and Contestable provisions apply as if the policy were newly issued. The rates shall be calculated using rate scale 115/215 ANB. Otherwise, if the conversion does not qualify as a new issue, reinsurance shall be on a YRT basis at attained age and duration on rate scale 115/215 ANB.
Rate Guarantee. An hourly rated or nonexempt salaried employee whose job is directly eliminated by a transfer of work, the discontinuance of a discrete, unreplaced product line, the introduction of a robot, or the introduction of an automated manufacturing or office machine shall be paid on any job to which transferred or recalled in the plant at a rate not less than the regular hourly daywork rate (average earnings exclusive of overtime premium in the case of incentive workers and actual straight-time salary rate in the case of nonexempt salaried employees) of the job eliminated for up to seventy-eight (78) weeks immediately following the original transfer or layoff. In the event that an hourly rated or nonexempt salaried employee is displaced due to a reduction in force within six months of the Company’s decision to subcontract work that would otherwise have been performed by the employee had it not been subcontracted, and where such decision did not reduce the number of represented employees performing ongoing work at that time, such subsequently displaced employee shall be eligible for rate guarantee under this Section 3(a), effective at the time of the displacement.
Rate Guarantee. CFM guarantees that for the Guarantee Period Airline’s cumulative Engine-caused IFSD rate will not exceed ***** EFH. If at the end of the Guarantee Period the guaranteed rate is exceeded, CFM will provide Airline a credit ***** in the amount of ***** for each qualifying IFSD in excess of the guaranteed rate. For purposes of this guarantee, an “IFSD” is defined as (i) when an Engine Part experiences a Failure or malfunctions resulting in an Engine-caused shutdown during flight or (ii) subject to verification of compliance with the Flight Crew Operating Manual, when the flight crew elects to shut off fuel to the Engine during flight solely due to an Engine Part Failure or malfunction.
Rate Guarantee. YRT rates are guaranteed not to exceed the one-year term rate calculated using the appropriate guaranteed interest assumption and the Commissioner’s Standard Ordinary Smoker/Non-smoker, Sex Distinct Mortality Table. In addition, the Reinsurer guarantees not to raise the YRT rates unless they raise YRT rates by a like amount on all their comparable YRT reinsurance business written during the calendar years while this Agreement is open for new business, or unless the Company raises the cost of insurance charges in which case the Reinsurer would raise its rates proportionally. In addition, this guarantee is contingent upon the Company adhering to the underwriting standards and any other treaty terms that have been presented as part of the basis of this Agreement.
Rate Guarantee. The Reinsurer may only increase its reinsurance premiums if [*] . If the Reinsurer increases its premium rates, the Company reserves the right to recapture business affected with no recapture fee.
a. Reinsurer will give 90 day written notice of rate change.
b. The written notice shall specify that the reinsurance rate increase will be effective on each policy’s next anniversary.
c. The Company must give 90 day written notice of intent to recapture.
d. The effective date of the recapture will be on the first policy anniversary following notice of the reinsurance rate increase.
e. The Company will calculate a terminal accounting that will include a refund of unearned gross premiums net of unpaid claims.
f. Reinsurer will not pay any amount representing the reserve held on the business.
g. If the Company does not provide the 90-day written notice of its desire to recapture following the notice received from the Reinsurer, this absence shall constitute acceptance of the rate change effective with each policy’s next anniversary.
h. If the Company does not provide the 90-day written notice of its desire to recapture following the notice received from the Reinsurer, this absence shall constitute acceptance of the rate change effective with each policy’s next anniversary.
