REDUCTIONS OR TERMINATIONS Sample Clauses

REDUCTIONS OR TERMINATIONS. If life insurance on a reinsured policy is reduced, then reinsurance will be reduced proportionately so that the Reinsurer Quota Share, as outlined in Section 1 of Schedule A, remains the same. Any additional amounts ceded in excess of the Ceding Company’s Maximum Dollar Retention Limit will be reduced accordingly to fill the Ceding Company’s Maximum Dollar Retention Limit, outlined in Section 3 or Schedule A. If life insurance on a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only in accord with the Ceding Company’s underlying policy that is in force at the time that the reductions and terminations take place.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
REDUCTIONS OR TERMINATIONS. If life insurance on a reinsured policy is reduced, the reduction shall be applied first to the reinsured portion, among all reinsurers in accordance to their percentages. If life insurance on a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place.
Sample 1Sample 2See All (4)
REDUCTIONS OR TERMINATIONS. 7 d. RISK CLASSIFICATION CHANGES................................................................... 7 e.
Sample 1
REDUCTIONS OR TERMINATIONS. 14 d. RISK CLASSIFICATION CHANGES............................................................................14 e. NON-FORFEITURE BENEFITS (REDUCED PAID-UP)..............................................................14
Sample 1
REDUCTIONS OR TERMINATIONS. 9 d. RISK CLASSIFICATION CHANGES.................................... 9 e. EXCHANGES, CONVERSIONS AND OTHER POLICY CHANGES................ 10 f. EXTENDED TERM AND REDUCED PAID-UP INSURANCE.................... 10
Sample 1
REDUCTIONS OR TERMINATIONS. If the face amount on a reinsured policy is reduced, then reinsurance will be reduced proportionately so that the portion reinsured, as outlined in Section 2 of Schedule A, remains the same. If a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place.
Sample 1

Related to REDUCTIONS OR TERMINATIONS

  • Reductions and Terminations In the event of the reduction, lapse, or termination of a policy or policies reinsured under this Agreement or any other agreement, the Ceding Company will, in order to maintain its full retention, reduce or terminate reinsurance on that life. If there is a reduction on a policy reinsured under this Agreement, the Ceding Company's Retained Share will be adjusted, if necessary, and Reinsured Net Amount at Risk will be recalculated, using the new Specified Amount. If the reduction is on a policy not reinsured under this Agreement, the reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. As a result of such reductions, to the extent necessary, the Ceding Company will recalculate the full available retention defined in Exhibit A for each policy reinsured under this Agreement and recalculate Ceding Company's Retained Share and Reinsured Net Amount at Risk for the policy. Reductions in reinsurance under this provision shall be proportionate to the Reinsurer's share of the total amount of reinsurance on the policy.

  • Reduction and Termination of the Commitments The Borrower shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to the Agent to reduce the Total Commitments by $5,000,000 or an integral multiple of $500,000 in excess thereof (provided that in no event shall the Total Commitment be reduced in such manner to an amount less than twenty-five percent (25%) of the largest Total Commitment ever existing under this Agreement) or to terminate entirely the Commitments, whereupon the Commitments of the Lenders shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty except as otherwise set forth in §4.8; provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the sum of Outstanding Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities would exceed the Commitments of the Lenders as so terminated or reduced. Promptly after receiving any notice from the Borrower delivered pursuant to this §2.3, the Agent will notify the Lenders of the substance thereof. Any reduction of the Commitment shall also result in a proportionate reduction (rounded to the next lowest integral multiple of $100,000) in the maximum amount of Swing Loans and available Letters of Credit. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Lenders the full amount of any Facility Fee under §2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.

  • Compensation After Termination (i) If the Employment Period is terminated pursuant to Executive’s resignation without Good Reason, death or Incapacity, Executive shall only be entitled to receive his/her Base Salary through the date of termination and shall not be entitled to any other salary, bonus, compensation or benefits from the Company or its Subsidiaries, except as may be required by applicable law.

  • Death after Termination In the event of the death of Executive during the period Executive is receiving payments pursuant to this Agreement, Executive’s designated beneficiary shall be entitled to receive the balance of the payments; or in the event of no designated beneficiary, the remaining payments shall be made to Executive’s estate.

  • 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.

  • Payments After Termination No payments of money by Tenant to Landlord after the termination of this Lease, in any manner, or after giving of any notice (other than a demand for payment of money) by Landlord to Tenant, shall reinstate, continue or extend the term of this Lease or affect any notice given to Tenant prior to the payment of such money, it being agreed that after the service of notice of the commencement of a suit or other final judgment granting Landlord possession of the Premises, Landlord may receive and collect any sums of rent due, or any other sums of money due under the terms of this Lease or otherwise exercise its rights and remedies hereunder. The payment of such sums of money, whether as rent or otherwise, shall not waive said notice or in any manner affect any pending suit or judgment theretofore obtained.

  • Rights After Termination 15.1 All rights and obligations of the parties which accrue on or before the effective termination date shall be fully enforceable by either party after termination.

  • Termination and Termination Pay Subject to Section 12 of this Agreement, Executive’s employment under this Agreement may be terminated in the following circumstances:

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

  • Upon Termination Except as otherwise stated in Section 6, in the event Executive leaves the employ of the Company for any reason prior to the date the Annual Bonus is paid, Executive is not eligible to earn such Annual Bonus, prorated or otherwise.

Time is Money Join Law Insider Premium to draft better contracts faster.