Common use of Termination Due to Nonpayment Clause in Contracts

Termination Due to Nonpayment. Either party may terminate this Agreement if the other party fails to pay, when due, any amounts due under this Agreement provided that the delinquent party has been given at least twenty (20) Business Days advance written notice of its intent to terminate for that reason. Either party may avoid termination pursuant to this Section 11.4 by paying all amounts that are delinquent and then due on or before the date upon which the Agreement would have terminated in accordance with the notice from the other party. The other party shall provide written notice to the curing party that the default has been adequately cured.

Appears in 4 contracts

Samples: Coinsurance Agreement, Coinsurance Agreement (American Equity Investment Life Holding Co), Coinsurance Agreement (FBL Financial Group Inc)

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Termination Due to Nonpayment. Either party may terminate this Agreement if the other party fails to pay, when due, any amounts due under this Agreement provided that the delinquent party has been given at least twenty (20) Business Days advance written notice of its intent to terminate for that reason. Either party may avoid termination pursuant to this Section 11.4 9.4 by paying all amounts that are delinquent and then due on or before the date upon which the Agreement would have terminated in accordance with the notice from the other party. The other party shall provide written notice to the curing party that the default has been adequately cured.

Appears in 2 contracts

Samples: Coinsurance Agreement (Eagle Life Insurance Co), Coinsurance Agreement (Eagle Life Insurance Co)

Termination Due to Nonpayment. Either party may terminate this Agreement if the other party fails to pay, when due, any amounts due under this Agreement Agreement, provided that the non-delinquent party has been given at least twenty (20) Business Days advance prior written notice of its intent to terminate for that reason. Either The delinquent party may avoid termination pursuant to this Section 11.4 9.05 by paying all amounts that are delinquent and then due due, including any interest owing thereon pursuant to Section 8.06, on or before the date upon which Termination Date specified in the Agreement would have terminated in accordance with the notice from the other party. The other party shall provide written notice to the curing party that the default has been adequately curednotice.

Appears in 2 contracts

Samples: Coinsurance Agreement (Liberty Financial Companies Inc /Ma/), Coinsurance Agreement (Keyport Life Insurance Co)

Termination Due to Nonpayment. Either party may terminate this Agreement for new business if the other party fails to pay, when due, any amounts due under this Agreement Agreement, provided that the non-delinquent party has been given at least twenty (20) Business Days advance prior written notice of its intent to terminate for that reason. Either The delinquent party may avoid termination pursuant to this Section 11.4 paragraph 9.04 by paying all amounts that are delinquent and then due due, including any interest owing thereon pursuant to paragraph 8.05, on or before the date upon which Termination Date specified in the Agreement would have terminated in accordance with the notice from the other party. The other party shall provide written notice to the curing party that the default has been adequately curednotice.

Appears in 1 contract

Samples: Trust Agreement (Lincoln Life & Annuity Variable Annuity Account H)

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Termination Due to Nonpayment. Either party may terminate this Agreement if the other party fails to pay, when due, any amounts due under this Agreement Agreement, provided that the non-delinquent party has been given at least twenty (20) Business Days advance prior written notice of its intent to terminate for that reason. Either The delinquent party may avoid termination pursuant to this Section 11.4 9.05 by paying all amounts that are delinquent and then due due, including any interest owing thereon pursuant to Section 8.06, on or before the date upon which Termination Date specified in the Agreement would have terminated in accordance with the notice from the other partywritten notice. The other party shall provide written notice to the curing party that the default has been adequately cured9.06.

Appears in 1 contract

Samples: Coinsurance Agreement (Usf&g Corp)

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