Maximum Annual Premium definition

Maximum Annual Premium has the meaning set forth in Section 6.8(b).
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Maximum Annual Premium shall have the meaning set forth in Section 4.10(b).
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Maximum Annual Premium means an annual premium for the applicable insurance policy in excess of two hundred twenty-five percent (225%) of the aggregate annual premium payable by the SPAC or the Company, as applicable, for such insurance policy for the year ended 2023.
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Examples of Maximum Annual Premium in a sentence

  • If the annual premiums of such insurance coverage exceed the Maximum Annual Premium, then the Surviving Corporation will be obligated to obtain a policy with the greatest coverage available for a cost not exceeding the Maximum Annual Premium from an insurance carrier with the same or better credit rating as the Company’s current directors’ and officers’ liability insurance carrier.

  • Prior to the Effective Time, the Company may purchase a prepaid “tail” policy with respect to the D&O Insurance from an insurance carrier with the same or better credit rating as the Company’s current directors’ and officers’ liability insurance carrier so long as the annual cost for such “tail” policy does not exceed the Maximum Annual Premium.

  • If the annual premiums of such insurance coverage exceed the Maximum Annual Premium, then the Surviving Corporation shall be obligated to obtain a policy with the greatest coverage available for a cost not exceeding the Maximum Annual Premium from an insurance carrier with the same or better credit rating as the Company’s current directors’ and officers’ liability insurance carrier.

  • If the annual premiums of such insurance coverage exceed the Maximum Annual Premium, then the Surviving Corporation will be obligated to obtain a policy with the greatest coverage available for a cost not exceeding the Maximum Annual Premium from an insurance carrier with the same or better credit rating as the Company’s directors’ and officers’ liability insurance carrier on the date hereof.

  • If the annual premiums of such insurance coverage exceed the Maximum Annual Premium, the Surviving Corporation will be obligated to obtain a policy with the greatest coverage available for a cost not exceeding the Maximum Annual Premium.

  • Prior to the Effective Time, the Company may purchase a prepaid “tail” policy with respect to the D&O Insurance from an insurance carrier with the same or better credit rating as the Company’s current directors’ and officers’ liability insurance carrier so long as the aggregate cost for such “tail” policy does not exceed the Maximum Annual Premium.

  • In satisfaction of the foregoing obligations, prior to the Effective Time the Company may purchase a prepaid “tail” policy with respect to the D&O Insurance from an insurance carrier with the same or better credit rating as the Company’s current directors’ and officers’ liability insurance carrier so long as the aggregate cost for such “tail” policy does not exceed the Maximum Annual Premium.

  • If all of the Major Medical Benefits cannot be provided for the Maximum Annual Premium Amount, the Company shall utilize the Maximum Annual Premium Amount to obtain such major medical insurance coverage as can reasonably be obtained.

  • Prior to the Effective Time, the Company may purchase a six-year “tail” prepaid policy (the “Tail Policy”) on the D&O Insurance which Tail Policy shall (i) be on terms and conditions with respect to coverage and amounts no less favorable, in the aggregate, than the D&O Insurance, (ii) be for an amount not to exceed the Maximum Annual Premium and (iii) name Parent as a successor-in-interest of such Tail Policy.

  • Xxxxxxxx, or either of them, after employment termination shall not oblige the Company to expend more than the Maximum Annual Premium Amount in any calendar year as determined by CryoLife.


More Definitions of Maximum Annual Premium

Maximum Annual Premium shall have the meaning specified in Section 7.11(c) of this Agreement.
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Maximum Annual Premium has the meaning set forth in Section 6.8(b). “Merger” has the meaning set forth in the Recitals.
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Maximum Annual Premium is defined in Section 6.07(c).
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Maximum Annual Premium. Section 7.04(a) “Measurement Date” Section 4.03(b) “Merger” Recitals “Merger Consideration” Section 2.06(a) “Merger Sub” Preamble “New Purchase Date” Section 7.02(e) “Offering Period” Section 7.02(e) “Parties” Preamble
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Maximum Annual Premium is defined in Section 6.2(c) of this Agreement.
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Maximum Annual Premium. Section 5.7(c) “Merger” Recitals
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Related to Maximum Annual Premium

  • Annual Premium means the premium set by Us and payable for cover under this policy for a full academic year.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Maximum Mortgage Rates of the Group I Mortgage Loans, weighted based on their outstanding Principal Balances as of the first day of the calendar month preceding the month in which the Distribution Date occurs and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Maximum Mortgage Rates of the Group II Mortgage Loans, weighted based on their outstanding Principal Balances as of the first day of the calendar month preceding the month in which the Distribution Date occurs and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the Maximum Cap Rate for the Group I Certificates and the Maximum Cap Rate for the Group II Certificates and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period.

  • Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.

  • Annual Percentage Rate or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

  • Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

  • Maximum Drawing Amount means the maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit.

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Monthly Salary Rate means the amount agreed to by the Owner that can be used on Applications for Payment throughout the Construction Phase to account for the services of Construction Manager’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by the Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Construction Manager’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by the Construction Manager for services performed for the Project.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.

  • Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • ANNUAL RATE ADJUST: MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE : LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 7.50000 PRODUCT CODE : 002 LTV : 68.35400 ---------------------------------------------------------------- 0 0031056096 MORTGAGORS: CLEVENGER RALPH CLEVENGER CATHERINE REGION CODE ADDRESS : 2751 KENSINGTON PLACE 01 CITY : CARSON CITY STATE/ZIP : NV 89703 MORTGAGE AMOUNT : 358,500.00 OPTION TO CONVERT : UNPAID BALANCE : 357,966.21 ANNUAL RATE ADJUST: MONTHLY P&I : 2,506.69 OUTSIDE CONV DATE : LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 7.50000 PRODUCT CODE : 002 LTV : 76.27600 ---------------------------------------------------------------- - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 1,469,050.00 P & I AMT: 10,468.15 UPB AMT: 1,466,944.93 1 GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C ISSUE DATE: 11/01/97 P.O. BOX 5260 TMS AG0004971130 00 01 PAGE: 231 CHERRY HILL, N.J. 08034 (800) 257-7818 0 ---------------------------------------------------------------- 0 0031056112 MORTGAGORS: CONNELLY MICHAEL CONNELLY TERRI REGION CODE ADDRESS : 5010 PASEO DE LAS TORTUGAS 01 CITY : TORRANCE STATE/ZIP : CA 90505 MORTGAGE AMOUNT : 293,300.00 OPTION TO CONVERT : UNPAID BALANCE : 292,905.07 ANNUAL RATE ADJUST: MONTHLY P&I : 2,152.14 OUTSIDE CONV DATE : LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 8.00000 PRODUCT CODE : 002 LTV : 77.18400 ---------------------------------------------------------------- 0 0031056120 MORTGAGORS: FRENCH D. FRENCH CHARLENE REGION CODE ADDRESS : 3117 CALLE NOGUERA 01 CITY : SANTA BARBARA STATE/ZIP : CA 93105 MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT : UNPAID BALANCE : 250,518.73 ANNUAL RATE ADJUST: MONTHLY P&I : 1,798.20 OUTSIDE CONV DATE : LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 7.75000 PRODUCT CODE : 002 LTV : 78.43700 ---------------------------------------------------------------- 0 0031056146 MORTGAGORS: KOCH DAVID KOCH CYNTHIA REGION CODE ADDRESS : 4818 DALEWOOD DRIVE 01 CITY : EL DORADO HILLS STATE/ZIP : CA 95762 MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT : UNPAID BALANCE : 268,655.76 ANNUAL RATE ADJUST: MONTHLY P&I : 2,020.91 OUTSIDE CONV DATE : LIFETIME RATE : 8.25000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 8.25000 PRODUCT CODE : 002 LTV : 94.99900 ---------------------------------------------------------------- 0 0031056161 MORTGAGORS: KILPATRICK ROBERT MANGAN MICHELE REGION CODE ADDRESS : 4647 MONTIEL TRUCK TRAIL 01 CITY : JAMUL STATE/ZIP : CA 91935 MORTGAGE AMOUNT : 249,200.00 OPTION TO CONVERT : UNPAID BALANCE : 248,832.31 ANNUAL RATE ADJUST: MONTHLY P&I : 1,785.30 OUTSIDE CONV DATE : LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/27 CURRENT INT RATE: 7.75000 PRODUCT CODE : 002 LTV : 80.00000 ---------------------------------------------------------------- 0 0031056294 MORTGAGORS: CARTER KAREN

  • Maximum Advance Rate means 80.0%.

  • Final Payment Percentage is five percent (5.00%).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of: