Automatic Limits Sample Clauses

The "Automatic Limits" clause sets predefined caps or thresholds that apply automatically to certain obligations, liabilities, or benefits within a contract. For example, it may specify a maximum amount payable for damages or restrict the total value of claims that can be made under an agreement, without requiring further negotiation or amendment. This clause ensures predictability and manages risk by clearly defining the upper boundaries of responsibility or entitlement, thereby preventing unexpected or unlimited exposure for the parties involved.
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Automatic Limits. The Company cedes 65% (sixty-five percent) of the risk. Once (if) the Company’s maximum retention is full, 100% of the risk is ceded to the pool. The following chart outlines the automatic capacity only. The following Automatic Limits apply to policies within the Location limit. If the Automatic Limit is exceeded, the Company can submit the whole risk to reinsurers on a Facultative basis. Maximum issue amount subject to Death Benefit (DB) Factors below: Initial - $5,000,000 per life Ultimate - $8,000,000 per life 10 – 15 25,000 45,000 40,000 60,000 16 – 20 45,000 65,000 60,000 80,000 21 – 40 65,000 85,000 80,000 100,000 41 + 75,000 95,000 90,000 110,000
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Automatic Limits. ISSUE AGE Standard or better Tbl. 1 – Tbl. 4 (125%-200%) Tbl. 5 – Tbl. 8 (225%-300%) Tbl. 9 – Tbl. 16 (325%-500%)
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Related to Automatic Limits

  • Automatic Payments You can agree with a seller who accepts PayPal to use PayPal as the payment method for future purchases with that seller. This agreement is between you and the seller and allows you to pay the seller on a one-time, regular or sporadic basis. Depending on the seller you wish to pay, you might also be able to directly instruct PayPal to make future payments to the seller on your behalf on a one-time, regular or sporadic basis. Examples of automatic payments that can be arranged by you either with a seller or with PayPal include those that PayPal calls a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "preauthorised transfer" or "preapproved payment." You authorise and instruct PayPal to pay the third party (or another person they direct) amounts from your payment method for the amounts you agree to owe and as presented to PayPal by that third party. You may cancel an automatic payment up to 3 business days before the date of the next scheduled payment from your account settings or by contacting us. Once you contact PayPal to cancel an automatic payment, all future automatic payments under your agreement with that seller will be stopped. If you cancel an automatic payment, you may still owe the seller money for the purchase or have additional obligations to the seller for any goods or services that you receive but have not paid for. If you have authorised an automatic payment and PayPal performs currency conversion for an automatic payment transaction, PayPal will use the transaction exchange rate (including PayPal's currency conversion fee) in effect at the time the automatic payment transaction is processed.

  • Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.

  • Automatic Reduction Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class B Certificates or otherwise, the Maximum Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.

  • Minimum Limits The minimum limits to be maintained by the School (inclusive of any amounts provided by an umbrella or excess policy) shall be $1 million per occurrence/$3 million annual aggregate.

  • Automatic Renewal Each Schedule will renew automatically at the end of the then-current Schedule Term for a Schedule Renewal Term unless terminated in accordance with this Agreement by either You or Company.