Continuation Option Sample Clauses

Continuation Option. A Member no longer eligible for coverage (except in the event of termination for cause, as set forth in Subsection E.) may continue coverage for a period of up to 3 months subject to notification to and self- payment of premiums to the Group. This provision will not apply if the Member is eligible for the continuation coverage provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). This continuation option is not available if the Group no longer has active employees or otherwise terminates.

Continuation Option. (a) [Reserved]. (b) Any Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving irrevocable notice of a continuation request in the form of Exhibit I hereto to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans, such notice to be signed by a Financial Officer and delivered per both fax and e-mail in accordance with Section 11.2 and received by the Administrative Agent prior to 7:00 P.M., Pacific Standard Time on the Business Day prior to the expiry of the then current Interest Period; provided that no Loan may be continued as such when any Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such continuations, and provided, further, that if the Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso then the Borrower shall be deemed to have submitted a continuation request for a new Interest Period of one week and the relevant Loan shall be continued for a period of one week at the corresponding Eurodollar Rate upon the expiration of the then current Interest Period and, unless the required notice of continuation is given prior to the expiration of such one week period in accordance with this paragraph, shall be due and payable on the last day of such one week period. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant Lender thereof.

Continuation Option. (a) Borrower may irrevocably request a Continuation of Loans on any Business Day in a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to Administrative Agent not later than the Requisite Time therefor. (b) Unless Borrower pays all amounts due under Section 3.05, if any, a Eurodollar Rate Loan may be Continued only on the last day of the Interest Period for such Eurodollar Rate Loan. (c) Administrative Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any Eurodollar Rate Loan upon determination of the same.

Continuation Option. (a) The Borrower may elect at the end of any applicable Interest Period to continue any Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Loans continued for each Interest Period must be in the amount of at least the Euro Equivalent of €1,000,000 or an integral multiple of €500,000 in excess CREDIT AGREEMENT FMC FINANCE B.V.

Continuation Option. If this Agreement has not been terminated ------------------- in accordance with Section 3 hereof prior to the expiration of three (3) years after the date hereof and Buyer does not exercise the Purchase Option (as defined in Section 4.01), then Buyer shall have the option to continue the Term of this Agreement (the "Continuation Option") for an additional two (2) year period (the "Continuation Period") by providing notice to Company in writing of the exercise of its option granted by this Section 4.02 during the Option Term immediately preceding termination of this Agreement pursuant to Section 3.01(f) above. Buyer's Continuation Option shall be subject to and shall be conditional upon payment by Buyer to Company of any unpaid Royalty Payments then due and payable, payment by Buyer to Company of any unpaid amounts owing for inventory purchased hereunder then due and payable, and payment of the SG&A Differential (as defined in Section 5.02) in the event Company has not exercised its Put Option (as defined in Section 5.02). Upon exercise of the Continuation Option, the following shall occur: (a) the License for the Licensed Intellectual Property shall terminate and Buyer shall have no further right to utilize the Licensed Intellectual Property for any purpose whatsoever and Buyer shall change its name as soon as practicable to a name which does not use the name Xxxxxx or any derivation thereof;

Continuation Option. This option applies for death and TPD cover for regular employees. Refer to section 6 of the PDS Part B for more information.

Continuation Option. (a) The Borrowers may elect to continue such Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of each continuation shall be allocated among the Loans of each Lender in accordance with its Ratable Portion. Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Continuation”) and shall be made by giving the Applicable Facility Agent at least three Business Days prior written notice specifying (A) the amount and type of Loan being continued, (B) the applicable Interest Period, and (C) the last day of the applicable Interest Period). (b) The Applicable Facility Agent shall promptly notify each Lender of its receipt of a Notice of Continuation and of the options selected therein. Notwithstanding the foregoing, no continuation in whole or in part of Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (i) a Default or an Event of Default shall have occurred and be continuing or (ii) the continuation of would violate any of the provisions of Section 2.15. If, within the time period required under the terms of this Section 2.12, the Applicable Facility Agent does not receive a Notice of Continuation from a Borrower containing a permitted election to continue any Loans for an additional Interest Period, then, upon the expiration of the applicable Interest Period, such Loans will be automatically continued for one month or any other alternative interest period as selected by the Applicable Facility Agent. Each Notice of Continuation shall be irrevocable.

Continuation Option. The continuation option allows you to buy a comparable long term care insurance policy that insures the same insured person as that Lifecheque (Permanent) insurance coverage. You can only exercise the continuation option on or after the 20th coverage anniversary. These conditions also apply on the date you exercise this option: • that Lifecheque (Permanent) insurance coverage and its LivingCare benefit are in effect • that insured person has never received a recovery benefit under that Lifecheque (Permanent) insurance coverage • that insured person is not receiving and has never received care benefits under the LivingCare benefit for any Lifecheque insurance coverage • the premiums for that Lifecheque insurance policy are not being waived under any waiver of premium on disability rider, and you provide evidence satisfactory to us that no one insured by any waiver of premium on disability rider on that policy is totally disabled • that insured person must meet the minimum and maximum age limits for the new long term care insurance policy described in the administrative rules in effect at that time for the new long term care insurance policy • the maximum amount of insurance you can buy as a result of exercising a continuation option is equal to the sum of all LivingCare benefit limits on all Lifecheque (Permanent) insurance coverages for that insured person, or $500,000, whichever is less, and • the new coverage on the new long term care insurance policy must insure only the same insured person as those Lifecheque (Permanent) insurance coverages • the new coverage must be comparable to the LivingCare benefit on that Lifecheque (Permanent) insurance coverage. To be comparable the new long term care insurance coverage must: • provide a total benefit limit that is equal to or less than the sum of all LivingCare benefit limits on all Lifecheque (Permanent) insurance coverages • have a waiting period that is equal to or greater than the waiting period on the LivingCare benefit on that Lifecheque (Permanent) insurance coverage • have eligibility requirements to receive benefits that are equivalent to the eligibility requirements to receive benefits on the LivingCare benefit on that Lifecheque (Permanent) insurance coverage. The minimum eligibility requirements are: • the insured person cannot do two or more of the activities of daily living without substantial assistance from another person, or • due to a cognitive impairment, the insured person needs substantial...

Continuation Option. Prior to the termination of each CD Interest Period or Eurodollar Interest Period, Borrower may give the Bank a Conversion/Continuation Notice electing to continue all or part of the loan related thereto as the same type of loan upon the expiration of such CD Interest Period or Eurodollar Interest Period. Such Conversion/Continuation Notice shall be given to Bank at least three (3) Eurodollar Business Days prior to the termination of such Eurodollar Interest Period and at least two (2) Business Days prior to the termination of such CD Interest Period and shall specify the length of the succeeding CD Interest Period or Eurodollar Interest Period, as the case may be (subject to the provisions of the definitions of such term), selected by Borrower with respect to such portion. If no Conversion/Continuation Notice is given with respect to all or any portion of a Loan, Borrower shall be deemed to have elected to reborrow such portion of the Loan as a Base Rate Loan.

Continuation Option. Any Eurodollar Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower giving written notice to the Administrative Agent not later than 11:00 a.m. New York City time, three Eurodollar Business Days prior to the last day of such Interest Period in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided, however, that no Eurodollar Loan may be continued as such (a) when any Event of Default has occurred and is continuing and the Administrative Agent, with the consent of the Majority Banks, has determined that such a continuation is not appropriate and (b) after the date that is one month prior to the Maturity Date with respect to such Eurodollar Loan and provided, further, that if the Borrower shall fail to give any required notice as described above in this Section 3.9 or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of such notice, the Administrative Agent shall promptly give the Banks notice of the same.