Reductions or Cancellations Sample Clauses

Reductions or Cancellations. Should this Agreement be terminated or the share of the Reinsurer reduced while the underlying contract remains in force, the Reinsurer shall return to the Reinsured the unearned premium, if any, as of the date of cancellation or reduction, less the applicable allowances. If the Reinsured’s liability in the underlying contract is reduced or canceled, the Reinsurer shall follow the Reinsured’s liability in all respects.
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Reductions or Cancellations. Should this Agreement be terminated or the quota share be reduced, the Reinsurer shall return to the Ceding Company the unearned premium, if any, as of the date of cancellation or reduction, less the applicable allowances.
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Reductions or Cancellations. Should this Agreement be terminated, or the quota share reduced, the Reinsurer shall return to the Company, the portion of any payments received by the Reinsurer from the Company in accordance with Articles 8 and 10 that are attributable to accounting periods after the effective date of the termination or reduction. Likewise, the Company shall return to the Reinsurer the portion of any payments received by the Company from the Reinsurer in accordance with Articles 8 and 10 that are attributable to accounting periods after the effective date of termination or reduction. TLIC/ULIC VA Co/Modco Page 7 Eff. 03/01/2007
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Related to Reductions or Cancellations

  • No Rescission or Cancellation The Servicer shall not permit any rescission or cancellation of any Receivable except in accordance with the Credit Card Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.

  • Rescission or Cancellation The Servicer shall not permit any rescission or cancellation of any Receivable except as ordered by a court of competent jurisdiction or other Governmental Authority or in accordance with the normal operating procedures of the Servicer.

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

  • Voluntary cancellation Subject to the payment of SIMEST Break Costs, the Borrower may, if it gives the Agent not less than thirty-five (35) days’ (or such shorter period as the Majority Lenders may agree) prior notice, cancel the whole or any part of the Available Facility. Any cancellation under this Clause 7.9 (Voluntary cancellation) shall reduce the Commitments of the Lenders rateably.

  • Reduction of the Commitments (a) The Borrower shall have the right, upon at least five Business Days’ irrevocable notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or in integral multiples of $1,000,000 in excess thereof.

  • Termination and Reduction of the Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Prepayment and Cancellation 8.1 Mandatory prepayment - illegality

  • Optional Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

  • Section 309 Cancellation All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of as directed by a Company Order.

  • Purchase for Cancellation Subject to applicable law, meeting the solvency requirements under Bermuda law and to the provisions described in Section 6, the Partnership may at any time purchase for cancellation the whole or any part of the Series 7 Preferred Limited Partnership Units Outstanding from time to time, in the open market through or from an investment dealer or any firm holding membership on a recognized stock exchange, or by private agreement or otherwise, at the lowest price or prices at which, in the opinion of the General Partner, such units are obtainable.

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