Coverage Percentage Sample Clauses
The Coverage Percentage clause defines the proportion of a loss, claim, or expense that an insurer or another responsible party will cover under an agreement. In practice, this clause specifies the exact percentage—such as 80% or 100%—that will be paid out in the event of a covered incident, with the remaining portion typically being the responsibility of the insured or another party. By clearly stating the coverage percentage, this clause ensures transparency and helps both parties understand their respective financial obligations, thereby reducing disputes and clarifying risk allocation.
Coverage Percentage. (a) The Coverage Percentage is determined by the Annuitant’s attained age (age at last birthday) (or for a joint life Certificate, the age of the younger Spouse) at the Lock-In Date and the current 10-year United States Treasury Bond Yield. The Coverage Percentages are shown on the Contract Data Pages and the Certificate Data Pages.
(b) Until the Lock-In Date, the Coverage Percentage will be zero.
Coverage Percentage. Immediately after giving effect to each Advance, each issuance of a Letter of Credit and each settlement on any Settlement Date hereunder, the Coverage Percentage does not exceed 100%.
Coverage Percentage. The Coverage Percentage is the factor that the Coverage Base or Covered Asset Pool is multiplied by to determine the Coverage Amount.
(a) Prior to the Lock-In Date the Coverage Percentage is zero.
(b) On or after the Lock-In date but before the Insured Event, the Coverage Percentage is determined by using the Covered Person’s Attained Age on the Lock-In Date (or for a joint life Certificate, the Attained Age of the younger Spouse on the Lock-In Date) and the current yield on the 10-year United States Treasury Bond. See Table 5 for a complete list of Coverage Percentages.
(c) After the Insured Event and provided certain conditions are met, the Coverage Amount will not change and the Coverage Percentage will no longer be calculated.
Coverage Percentage. The amount of any such optional withdrawal shall be treated as Collections received by the Transferor and shall be remitted to, and applied by, the Collection Agent in accordance with Section 2.5(a) on the date such optional withdrawal is permitted. Any such request for, and the acceptance of, any such optional withdrawal from the Equalization Account shall be deemed a representation and warranty by the Transferor that the Coverage Percentage is less than or equal to the Maximum Coverage Percentage. Upon the occurrence of the Termination Date for any reason, the Equalization Account shall be automatically closed and all amounts on deposit therein shall be applied in accordance with Section 2.6 (other than the second sentence thereof) on such date (or such later date as the Agent may direct if such amounts were invested in Eligible Investments that have not yet matured).
Coverage Percentage. On or after the Lock-In Date but before the Insured Event, the Coverage Percentage refers to a factor that the Coverage Base or Covered Asset Pool, as applicable, is multiplied by to determine the Coverage Amount. The factor is based on the Attained Age of the applicable Covered Person on the Lock-In Date and the then corresponding 10 year U.S. Treasury bond yield as shown on Table 5.