Examples of Premium Termination Date in a sentence
For the avoidance of doubt, no Prepayment Premium or other premium shall be payable in respect of a prepayment in respect of a Class of Term Loans after the applicable Prepayment Premium Termination Date with respect to such Class of Term Loans.
The Company shall pay the premiums due on the Policy each Plan Year until the Participant’s Premium Termination Date.
Such option to purchase the Equipment Notes may be exercised (x) upon a Mortgagee Event or (y) in the event there shall have occurred and be continuing a Lease Event of Default PROVIDED that if such option is exercised pursuant to clause (y) at a time prior to the Premium Termination Date when there shall have occurred and be continuing for less than 120 days a Lease Event of Default, the purchase price thereof shall equal the price provided in the preceding sentence plus the Make-Whole Amount, if any.
If the Participant’s Premium Termination Date occurs after the Company has paid a premium on the Policy but before the end of the coverage period supported by such premium, the Insurer shall credit the Company for the pro rata portion of such premium representing the unexpired coverage period, calculated from the Participant’s Premium Termination Date.
Following the Premium Termination Date, the Participant shall cease to participate in this Plan, but shall retain all ownership rights under the Policy, including the right to continue such coverage in force by paying premiums on the Policy directly to the Insurer.