CONTRACT UPDATE Sample Clauses
A CONTRACT UPDATE clause establishes the procedures and conditions under which changes or modifications to the contract may be made after it has been executed. Typically, this clause outlines who has the authority to propose updates, the process for reviewing and approving amendments, and the requirement that any changes be documented in writing and signed by all parties. By providing a clear framework for updating the contract, this clause ensures that all modifications are agreed upon and properly recorded, thereby preventing misunderstandings and disputes over informal or unauthorized changes.
CONTRACT UPDATE. A part of the contract with variable information which we will revise from time to time. Each Update will apply to you from and after the effective date stated in the Update. Except as expressly stated in each Update, the rates, schedules and other information in each Update will no longer apply to you after a new update is issued. Whenever we issue a new Update, it will become a part of the contract. We will mail it to you at your last known address and you should file it with the contract. DEBT, MONIES OWED. The amount of money you owe or for which you are liable to us or GA on any given date. It includes, but is not limited to, amounts of money which we or GA have advanced or loaned either to you or to someone else at your request or on your behalf; your earnings on premiums which we have returned to a policyholder; monies you received from another person for us or GA; and charges we or GA have made to you. It also includes interest on any or all of these amounts, at rates which we determine from time to time, pursuant to our rules.
CONTRACT UPDATE. A part of the contract with variable information which we will revise from time to time. Each Update will apply to you from and after the effective date stated in the Update. Except as expressly stated in each Update, the rates, schedules and other information in each Update will no longer apply to you after a new update is issued. Whenever we issue a new Update, it will become a part of the contract. We will mail it to you at your last known address and you should file it with the contract. DEBT, MONIES OWED. The amount of money, as well as the value of any furniture, equipment or supplies which we provide you, which you own and for which you are liable to us on any given date. It includes, but is not limited to, amounts of money which we have advanced or loaned either to you or to someone else at your request or on your behalf; your earnings on premiums which we have returned to a policyholder; monies you received from another person for us; and charges we have made to you. It also includes interest on any or all of these amounts, at rates which we determine from time to time, pursuant to our rules.