Adjusted Amounts Sample Clauses
The "Adjusted Amounts" clause defines how certain monetary values in a contract may be modified under specific circumstances. Typically, this clause outlines the methods or formulas used to recalculate payments, fees, or other financial obligations if predefined events occur, such as changes in law, interest rates, or market conditions. By establishing clear rules for adjusting amounts, the clause ensures fairness and predictability for both parties, helping to manage financial risk and prevent disputes over unexpected changes in costs or payments.
Adjusted Amounts. In the event the amount of insurance provided by a policy reinsured hereunder is increased or reduced because of a misstatement of age or sex established after the death of the insured, OPTIMUM RE will share in the increase or reduction in the proportion that the liability of OPTIMUM RE bore to the total liability under the policy immediately prior to such increase or reduction.
Adjusted Amounts. In the event of a change in the amount of THE COMPANY's liability on a reinsured policy due to a misstatement of age or sex, OPTIMUM RE's liability will change accordingly. The face amount of the reinsured policy will be adjusted from the inception of the policy and OPTIMUM RE's liability will be calculated on the adjusted face amount, and any difference in premiums net of allowances will be settled without interest.