Reducing Term Plans Clause Samples

Reducing Term Plans. If the life insurance reinsured is issued as a reducing term plan, NALAC’s net amount at risk for the first policy year shall equal the face amount of the life insurance reinsured as of the beginning of the first policy year. After the first policy year, NALAC’s net amount at risk for each of the policy years two through ten, inclusive, shall be reduced by one-ninth of the difference between (a) the face amount of the life insurance reinsured as of the beginning of the first policy year, and (b) the face amount of the life insurance reinsured as of the beginning of the tenth policy year. NALAC’s net amount at risk for each of the ten policy years, during any ten policy year period after the first ten policy years, shall be the prior policy year’s net amount at risk, less an amount equal to one-tenth of the difference between (a) the face amount of the life insurance reinsured as of the beginning of the policy year immediately preceding the period involved, and (b) the face amount of the life insurance reinsured as of the beginning of the last policy year of the period involved.
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Reducing Term Plans. If the life insurance reinsured is issued as a reducing term plan, (1) Occidental's net amount at risk for the first policy year shall equal the face amount of the life insurance reinsured as of the beginning of the first policy year. After the first policy year, Occidental's net amount at risk for each of the policy years two through ten, inclusive, shall be reduced by one-ninth of the difference between (a) the face amount of the life insurance reinsured as of the beginning of the first policy year,
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Reducing Term Plans. If the individual life insurance reinsured is issued as a reducing term plan. Allianz Life's net amount at risk for the first policy year shall equal the face amount of the life insurance reinsured as of the beginning of the first policy year. After the first policy year, Allianz Life's net amount at risk for each of the policy years two through ten, inclusive, shall be reduced by one-ninth of the difference between (a) the face amount of the life insurance reinsured as of the beginning of the first policy year, and (b) the face amount of the life insurance reinsured as of the beginning of the tenth policy year. Allianz Life's net amount at risk for each of the ten policy years, during the ten policy year period after the first ten policy years, shall be the prior policy year's net amount at risk, less an amount equal to one-tenth of the difference between (a) the face amount of the life insurance reinsured as of the beginning of the policy year immediately preceding the period involved, and (b) the face amount of the life insurance reinsured as of the beginning of the last policy year of the period involved. Universal/Variable Life Plans: ------------------------------ Allianz Life's net amount at risk for Universal/Variable life plans shall be proportionate to the Ceding Company's actual net amount at risk or a mutually acceptable approximation agreed to in writing by all parties.
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Reducing Term Plans. If the life insurance reinsured is issued as a reducing term plan, (1) The Reinsurer's net amount at risk for the first policy year shall be the difference between (i) the face amount of the life insurance reinsured and (ii) the Reinsured's retained amount of such life insurance.
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Related to Reducing Term Plans

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Existing Term Lenders The undersigned existing Term Lender hereby irrevocably and unconditionally approves the Amendment and consents as follows (check ONE option): x to convert 100% (or such lesser amount as shall be allocated to such Lender by the Lead Arranger) of the outstanding principal amount of the 2016 Extended Term Loans held by such Lender into March 2017 Refinancing Term Loans o to have 100% (or such lesser amount as shall be allocated to such Lender by the Lead Arranger) of the outstanding principal amount of the 2016 Extended Term Loans held by such Lender prepaid on the Refinancing Draw Date and purchase by assignment the principal amount of March 2017 Refinancing Term Loans committed to separately by such Lender The total aggregate amount of the undersigned Lender’s existing 2016 Extended Term Loan commitments is $985,123.91. The Lead Arranger reserves the right to accept or reject in full or in part such amount in their allocations for the Amendment.

  • Long Term Leave Any employee who declines a reappointment as a Teaching Assistant in order to interrupt his/her program of graduate study for a period not to exceed one (1) year will not jeopardize his/her consideration for reappointment under Article l3.03.

  • Long-Term Incentive The Company shall provide Employee an opportunity to participate in the Company’s applicable long term incentive plan as it may or may not exist from time to time.

  • Long-Term Incentives The Company shall provide the Executive the opportunity to earn long-term incentive awards under the current equity and cash based plans and programs or replacements therefor at a level commensurate with the current aggregate opportunity being provided to the Executive.