Insurance Savings Participation definition

Insurance Savings Participation means, on any CBC Payment Date, in respect of each Savings Mortgage Receivables or each Savings Investment Mortgage Receivable an amount equal to the Initial Insurance Savings Participation in respect of such Savings Mortgage Receivable or Savings Investment Mortgage Receivable, respectively, increased with each Insurance Savings Participation Increase up to (and including) the Calculation Period immediately preceding such CBC Payment Date, but not exceeding the Outstanding Principal Amount of such Savings Mortgage Receivable or Savings Investment Receivable, respectively.
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Insurance Savings Participation means, on any Mortgage Calculation Date, in respect of each Savings Mortgage Receivable [and each [Switch / Hybrid Mortgage Receivable] [Life Mortgage Receivable with a Savings Element]], an amount equal to the Initial Insurance Savings Participation in respect of such Savings Mortgage Receivable [or [Switch / Hybrid Mortgage Receivable] [Life Mortgage Receivable with a Savings Element]] increased with the Insurance Savings Participation Increase up to (and including) the Mortgage Calculation Period immediately preceding such Mortgage Calculation Date, but not exceeding the Outstanding Principal Amount of such Savings Mortgage Receivable [or [Switch / Hybrid Mortgage Receivable] [Life Mortgage Receivable with a Savings Element]];[“Insurance Savings Participation Increase”] means an amount calculated for each Mortgage Calculation Period on the relevant Mortgage Calculation Date by application of the following formula: (P x I) + S, whereby:P = Participation Fraction; S = the amount received by the Asset Purchaser pursuant to the Asset Purchaser Insurance Savings Participation Agreement on the Mortgage Collection Payment Date immediately succeeding the relevant Mortgage Calculation Date in respect of the relevant Savings Mortgage Receivable or the relevant Switch / Hybrid Mortgage Receivable] [Life Mortgage Receivable with a Savings Element] from the Insurance Savings Participant; and
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Examples of Insurance Savings Participation in a sentence

  • In return, the Insurance Savings Participant is entitled to receive the Insurance Savings Participation Redemption Available Amount from the CBC.

  • The CBC will have the right, but not the obligation, to enter into an Insurance Savings Participation Agreement with any other Insurance Company which offers a Savings Insurance Policy connected to an Insurance Savings Mortgage Receivable which has been transferred to the CBC.

  • In the Insurance Savings Participation Agreement the Insurance Savings Participant has undertaken to pay to the CBC amounts equal to all amounts received as Savings Premium on the Savings Insurance Policies, with respect to de Volksbank, with the Savings Alternative.

  • In addition, the Issuer will, as consideration for the CBC issuing the Guarantee, pay all costs and expenses of the CBC and make and receive all payments to be made or received by the CBC under any Swap Agreement, the Insurance Savings Participation Agreement, the Bank Savings Participation Agreement and certain other obligations of the CBC.

  • Insurance Savings Participant:SRLEV N.V., incorporated under Dutch law as a public limited liability company (naamloze vennootschap), having its corporate seat in Alkmaar and registered with the Commercial Register at the Chamber of Commerce under number 34297413 and such other saving insurance company which will enter into an Insurance Savings Participation Agreement with the CBC.

  • In connection with the assignment of mortgages with a savings or capital accumulation component, a number of ancillary agreements have also been concluded pursuant to the Master Mortgage Receivables Purchase Agreement: Bank Savings Participation Agreement, Insurance Savings Participation Agreement, Beneficiary Waiver Agreement.

  • In return, the Insurance Savings Participant is entitled to receive the Insurance Savings Participation Redemption Available Amount in respect of the Savings Mortgage Receivable or Switch Mortgage Receivable with a Savings Alternative from the Issuer.

  • It is expressly agreed that the Insurance Savings Participation shall not terminate and any amount due thereunder by the CBC shall not become prematurely due and payable if the Insurance Savings Participant is declared bankrupt or has become subject to any analogous insolvency proceedings under any applicable law.

  • Insurance Savings Participant: SRLEV N.V., incorporated under the laws ofthe Netherlands as a public limited liability company ("naamloze vennootschap"), having its corporate seat in Alkmaar and registered with the Commercial Register at the Chamber of Commerce in Alkmaar under number 34297413 and such other saving insurance company which will enter into an Insurance Savings Participation Agreement with the CBC.

  • In the Insurance Savings Participation Agreement the Insurance Savings Participant has undertaken to pay to the CBC amounts equal to all amounts received as Savings Premium on the Savings Insurance Policies and the Savings Investment Insurance Policies, respectively.

Related to Insurance Savings Participation

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Non-Participating Retail Health Clinic means a Retail Health Clinic which does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Continuing care retirement community means a residential