REINSURANCE BENEFITS Sample Clauses

REINSURANCE BENEFITS. 1. Net benefits are defined as follows:
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
REINSURANCE BENEFITS. Except as provided in Section 6.02, the Reinsurer shall be liable for the Reinsurer's Quota Share Percentage of any contractual liabilities payable by the Ceding Company (and any Rider benefits payable by the Ceding Company to contract owners age 90 or older where the Ceding Company has made the Rider election absent any communication from the contract owner) on Business Reinsured hereunder in accordance with the terms and conditions of this Agreement (the "Reinsurance Benefits").
Sample 1Sample 2Sample 3See All (4)
REINSURANCE BENEFITS. For GMDB Type 1, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below.
Sample 1Sample 2See All (4)
REINSURANCE BENEFITS. For GMDB Types 1, 2, and 3, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the greater of the GMDB Claim or the EPB Claim, subject to the limits described in Sections 5.02 and 5.03, below. For GMDB Type 4, 5, and 6, the Reinsurance Benefit payable by the Reinsurer to the Ceding Company on a contract covered by this Agreement shall be equal to the GMDB Claim, subject to the limits described in Sections 5.02 and 5.03 below. Reinsurance Treaty No. GMDB200210 Effective 10/01/2002
Sample 1Sample 2Sample 3
REINSURANCE BENEFITS. AXA agrees to reimburse the Company for its quota share of the mortality net amount at risk (i.e., MNAR) realized upon death under the contractual terms of the contracts reinsured, subject to the benefit limitations set forth below. · Death claims shall be reported along with reinsurance premiums and netted from them. A positive net amount will indicate amounts due AXA. A negative net amount will indicate amounts due to the Company. RECAPTURE · Election is available after the fifteenth anniversary of this agreement, provided that the total carry-forward is not in a negative position. · The total carry-forward is defined as the sum of the carry-forwards of this agreement and the complimentary GMIB agreement, if any, that reinsures the same Related Contracts. · The carry-forward for each agreement is defined as the current period’s reinsurance premium minus all reinsurance claims paid under this agreement minus a 2.5 basis points annual expense allowance applied against the average aggregate Account Value minus the change in treaty reserves plus last period’s loss carry-forward. The amount is accumulated at the 90-Day Federal Government Treasury Bxxx rate as published in the Wall Street Journal on the first business day of the current period plus 2.0%. · Upon election, recapture shall occur ratably over a 36 month period (i.e., the quota share percentage reduces by 2.78% times the initial quota share reinsured per month). It is irrevocable once elected. · AXA will provide the Company the “formula and mechanism” to determine the loss carry-forward.
Sample 1
REINSURANCE BENEFITS. Each Accounting Period, the Reinsurer will pay to the Ceding Company, pursuant to the Settlement Procedures, an amount equal to the “Reinsurance Benefits” for such Accounting Period which shall be an amount equal the sum of the Modco Benefits and the Coinsurance Benefits for such Accounting Period. The Reinsurance Benefits, including the Modco Benefits and the Coinsurance Benefits, shall not include any amounts excluded from coverage under the terms of this Agreement, including pursuant to Article VI, Section 5.
Sample 1
REINSURANCE BENEFITS. (a) Ultimate Net Loss $___________ (b) Unearned Premium Payments ___________ (c) Total $__________
Sample 1
AutoNDA by SimpleDocs
REINSURANCE BENEFITS. 1. Net benefits are defined as follows: For coverage issued directly by ALLSTATE and reinsured under this Agreement, net benefits are the actual benefits payable by ALLSTATE to insureds, less any amounts payable to ALLSTATE by another reinsurer with respect to the policy. These payments include credit disability and credit hospitalization benefits.
Sample 1
REINSURANCE BENEFITS 
Sample 1

Related to REINSURANCE BENEFITS

  • Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including reasonable attorneys' fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of a fire or other casualty affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Health Insurance Benefits To the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, Executive will be eligible to continue Executive’s group health insurance benefits at Executive’s own expense. If Executive timely elects continued coverage under COBRA, the Company shall pay Executive’s COBRA premiums, and any applicable Company COBRA premiums, necessary to continue Executive’s then-current coverage for a period of 12 months after the date of Executive’s termination of employment; provided, however, that any such payments will cease if Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums. Executive agrees to immediately notify the Company in writing of any such enrollment. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot provide the foregoing benefit without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly amount to continue his group health insurance coverage in effect on the date of separation from service (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive elects COBRA continuation coverage and shall commence in the month following the month in which Executive incurs a separation from service and shall end on the earlier of (x) the date on which Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such amounts and (y) 12 months after the date of Executive’s separation from service.

  • Severance Benefits To the extent that Employee shall be entitled to receive Severance Benefits pursuant to Section 4(d) or 4(e) hereof, Company and Employee agree that the following shall apply: (i) "Severance Benefits" shall mean: (A) a continuation of Employee's then effective salary as payable pursuant to Section 3(a) hereof during the Severance Period (as defined below); (B) payment of any bonus payable to Employee pursuant to Section 3(c) hereof, calculated based on the full Company bonus payable thereunder (subject to attainment by Company of any objective financial or performance standards applicable to Company) and prorated for any period during the Severance Period that is less than the full twelve (12) month period in which such bonus would be earned; (C) immediate vesting and payment of any Option Payments; and (D) continuation during the Severance Period of any medical/dental care coverage (or the reasonable equivalent thereof) which Employee is receiving as of the date of termination of the Period of Employment, provided that such insurance coverage shall terminate prior to the expiration of the Severance Period as of the first date that Employee is covered under another employer's health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such coverage shall be in lieu of any other continued health care coverage to which Employee or his dependents would otherwise be entitled in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), by reason of Employee's termination of employment. (ii) "Severance Period" shall mean a period of twenty-four (24) months following the termination of the Period of Employment pursuant to Section 4(d) or 4(e) hereof. (iii) Company shall be entitled to a credit for any amounts paid pursuant to Part One, Paragraph 1 of the Change of Control Agreement for any amounts payable pursuant to Paragraph (i)(A) and (i)(B) above as part of any Severance Benefits payable hereunder. (iv) Except as provided in Section 6 below, the Severance Benefits shall be received by Employee in lieu of any other right Employee may have under applicable law, Company or Parent policies or plans or otherwise with respect to any payments or compensation in connection with the termination of Employee's employment with Company. (v) Employee agrees that payment of the Severance Benefits may, in the discretion of the Company, be subject to the prior execution by the Employee of a release of claims in a form provided by the Company prior to any such payment and that payment of the Severance Benefits shall be consideration for such release. (g)

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Health Benefits Provided that Executive elects continued coverage under federal COBRA law, the Company shall pay the premiums of Executive's group health insurance coverage, including coverage for Executive's eligible dependents, for a maximum period of eighteen (18) months following a Covered Termination; provided, however, that the Company shall pay premiums for Executive's eligible dependents only for coverage for which those eligible dependents were enrolled immediately prior to the Covered Termination. No premium payments will be made following the effective date of Executive's coverage by a health insurance plan of a subsequent employer. For the balance of the period that Executive is entitled to coverage under federal COBRA law, Executive shall be entitled to maintain such coverage at Executive's own expense.

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Award and Insurance Benefits Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith (including attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation affecting the Property or any part thereof) out of such Insurance Proceeds.

  • Insurance and Benefits Company shall allow Executive to participate in each employee benefit plan and to receive each executive benefit that Company provides for senior executives at the level of Executive's position.

  • Unemployment Benefits The Company will not oppose the Executive’s claim for unemployment insurance benefits.

  • Standard Benefits During the Employment Period, Executive shall be entitled to participate in all employee benefit plans and programs, including paid vacations, generally available to other similarly situated Company executives, subject to the terms and conditions of the applicable plans.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!