Refund or Credit Plan Sample Clauses

Refund or Credit Plan. Any positive balance of the Group resulting from overall loss experience shall be available as a policyholder dividend in accordance with a refund or credit plan as adopted and amended from time to time by the Board of Trustees of the Group. A copy of the current refund or credit plan is attached for informational purposes as Exhibit B attached hereto and made a part hereof.
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Refund or Credit Plan. Any Claims Fund Positive Balance resulting from overall loss experience of the Group shall be available as a return of premium or to be taken into account in establishing the premium in subsequent years in accordance with a Refund or Credit Plan as adopted and amended from time to time by the Board of Directors of the Group. In addition, any Administrative Expense Fund Surplus will be available as a return of premium or will be taken into account in establishing individual policy premiums in subse- quent years in accordance with such Refund or Credit Plan. A copy of the current Refund or Credit Plan is attached for informational purposes as Schedule 2.
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Refund or Credit Plan. Any Aggregate Surplus resulting from favorable loss experience of the Trust may be made available as a return of Contribution (premium) or may be taken into account in establishing the Contribution (premium) in future years by the Trust’s Board of Trustees, acting in their reasonable discretion, in accordance with a Refund or Credit Plan, whether in writing, by Board resolution, or through the Trust’s customary practice, as in effect from time to time.
Sample 1

Related to Refund or Credit Plan

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • Letter of Credit In lieu of providing a cash Security Deposit, simultaneously with the execution of this Lease, Tenant may deliver to Landlord an irrevocable and transferable letter of credit (“Letter of Credit”) running in favor of Landlord, with the Letter of Credit securing Tenant’s obligations hereunder subject to the terms and conditions set forth in the Lease. The terms of the Letter of Credit, which are subject to Landlord’s reasonable consent, shall strictly comply with the provisions of this Addendum #1. The Letter of Credit shall be issued by a bank acceptable to Landlord in Landlord’s reasonable discretion and under the supervision of the banking commission of the State of California or the Federal Deposit Insurance Corporation. If the credit of the bank that originally issues the Letter of Credit becomes unacceptable to Landlord in Landlord’s reasonable discretion, Tenant shall at its cost substitute another Letter of Credit from a bank that is acceptable to Landlord in Landlord’s sole reasonable discretion. The Letter of Credit shall be irrevocable for the period ending no less than one (1) year after the date of issuance. Tenant shall renew the Letter of Credit and maintain it for the period ending one hundred twenty (120) days after the end of the calendar year in which the Term expires, and shall provide that it is automatically renewable for the Term, unless released pursuant to the provisions of this Section or unless the issuing bank delivers a notice of non-renewal no later than thirty (30) days before expiration. If Tenant fails to renew the Letter of Credit within ten (10) Business Days of its expiration, Landlord may draw on the existing Letter of Credit and maintain the funds as a non-interest-bearing deposit to be returned to Tenant on receipt by Landlord of a substitute Letter of Credit from Tenant meeting all requirements of this Addendum #1. The form and terms of the Letter of Credit shall be reasonably acceptable to Landlord and shall provide, among other things, in effect that:

  • No Commitment None of the provisions of this Agreement shall be deemed or construed to constitute or imply any commitment or obligation on the part of the Lender to make any future loans or other extensions of credit or financial accommodations to the Borrower.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

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