REDUCTION OR TERMINATION Sample Clauses
REDUCTION OR TERMINATION. If the amount of insurance on a reinsured policy is reduced, the reinsurance will be reduced proportionately as of the effective date of the reduction. If a reinsured policy is terminated, the reinsurance will cease on the date of such termination.
REDUCTION OR TERMINATION. If life insurance on a reinsured policy is reduced, then the reinsurance will be reduced proportionately so that each party's quota share portion remains the same. If life insurance on a reinsured policy is terminated, then the reinsurance will cease on the date of such termination. If a decrease in Specified Amount occurs on a date other than the policy anniversary, a pro-rata reinsurance premium will be refunded to CEDING COMPANY.
REDUCTION OR TERMINATION. 12 d. INTERNAL REPLACEMENTS......................................... 12
REDUCTION OR TERMINATION. 8 d. OTHER POLICY CHANGES, CONVERSIONS, EXCHANGES, ETC...................8 e. EXTENDED TERM AND REDUCED PAID-UP INSURANCE.........................8
REDUCTION OR TERMINATION. On or after the Closing Date, Borrower may upon at least three (3) Banking Days’ notice to Agent at the Agency Office, permanently terminate in whole at any time, or ratably reduce from time to time by an aggregate amount of Five Million Dollars ($5,000,000) or an integral multiple of One Million Dollars ($1,000,000) in excess thereof, the Aggregate Commitments to an amount that is not less than the sum of the aggregate outstanding principal amount of all Loans and the L/C Outstandings, after giving effect to any repayments of the Loans effected on the date of such reduction. All such reductions shall be permanent. If the Commitments are terminated in their entirety, all accrued Fees in respect thereof shall be payable on the effective date of such termination. Agent shall give prompt notice to the Banks of any such termination or reduction.
REDUCTION OR TERMINATION. 14 d. PLAN CHANGES..................................................................................... 14 e. DEATH BENEFIT OPTION CHANGES..................................................................... 15 f. REDUCED PAID-UP INSURANCE........................................................................ 15 21. RECAPTURE............................................................................................ 15
REDUCTION OR TERMINATION. Other Policy Changes, Conversions, Exchanges, Etc ..
REDUCTION OR TERMINATION. The Borrower may (i) terminate the Total Commitments at any time if no Loans or LOC Obligations are outstanding at such time, and (ii) ratably and permanently reduce from time to time, by an aggregate amount of not less than $3,000,000 and additional increments of $1,000,000, the unused portion of the Total Commitments, and may, in increments of $1,000,000, allocate such reductions to amounts available under the Revolving Credit Commitments and the Employee Loan Participations.
REDUCTION OR TERMINATION. In the event Borrowers desire to reduce ------------------------ the Revolving Credit Limit or terminate the Revolving Credit prior to the Revolving Credit Maturity Date, Borrowers may only effect such reduction or termination (i) on at least 60 days prior written notice to Agent and (ii) with full and unconditional payment of (1) in the case of a reduction, the amount of all outstanding Obligations which exceed the amount of the Revolving Credit Limit as reduced (in which case any and all commitments of Lenders shall be proportionately reduced) and (2) in the case of a termination, the amount of all outstanding Obligations, in which case any and all commitments of Lenders and Agent hereunder shall cease.
REDUCTION OR TERMINATION. 14 d. PLAN CHANGES..................................................................................... 14 23.......REINSTATEMENTS................................................................................... 14 a. AUTOMATIC REINSTATEMENT.......................................................................... 14 b. FACULTATIVE REINSTATEMENT........................................................................ 14 24.......RECAPTURE........................................................................................ 15