Creditor Insurance Sample Clauses

Creditor Insurance. Generally up to a maximum of 75 percent of a secured loan unless agreement has a loan provision calling the loan due upon the death of owner/key person . Buy/Sell Coverage should usually be applied for or in force on all major active partners . A business insurance questionnaire should be fully completed in all cases unless a detailed cover letter and company financial statements are submitted with the application . Each partner’s ownership percentage should be included and coverage should be proportional to the ownership interest . Company financial statements and copies of a buy/sell agreement are sometimes necessary to help establish a reasonable market valuation for the company and may be ordered at the underwriter’s discretion .
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Creditor Insurance. The following provisions apply to the promotion and sale of Creditor Insurance to Customers (“Policies”).
Sample 1
Creditor Insurance. You understand that it is an additional condition of this agreement that you take up creditor insurance (to insure against the possibility of your death or disability during the term of this agreement) for an amount not less than the value of your loan for the term of this agreement. You will be required to provide us with proof that you have taken up a creditor insurance policy and you agree to pay the said insurance premiums on a monthly basis for the duration of this agreement. If you fail to do this, you authorise us to take out a creditor insurance policy on your behalf with an insurance company of our choice and you will pay the said insurance premiums on a monthly basis which will be debited to your account.
Sample 1
Creditor Insurance. If you don't have the optional creditor insurance that we make available to eligible borrowers and would like more information or wish to apply for it, please contact us.
Sample 1
Creditor Insurance. You understand that it is an additional condition that you take up creditor insurance for all borrowers (to insure against the possibility of death or disability during the term of the loan) for an amount not less than the value of your loan from an insurer of your choice acceptable to the Bank. You will be required to provide us with proof that the insurance policies and you agree to pay the said insurance premiums for the duration of the loan. You understand that the subsequent annual premiums may vary and or increase depending on the change of rates by the insurer as per prevailing market conditions. If you do not take up the required insurance policy or you do not pay the premiums, you hereby authorise us to take out the required insurance policy on your behalf and pay the said insurance premiums, which payments will be debited to any of your bank accounts, (including loan accounts) now or in the future. If we take up the insurance policy on your behalf then we will provide you with details of the policy when you request for them. If we take up the insurance policy on your behalf then the bank will earn a fee from the insurance company which will be a percentage of the loan amount. This fee will not be paid by you and will not affect the premium that you pay to the insurer. If you make early repayment of the loan you will be entitled to a refund of the premium that you have paid proportionate to the balance of the remaining loan period after early repayment. Please note that the insurer may have a waiting period of up to six(6) months during which any claim arising will not be paid. It is your responsibility to read and understand the terms and conditions of any insurance cover policy that you take or that has been taken for you. You will notify us of any event which may give reason for a claim to be made under the insurance policy. Any proceeds received by us from payment of a claim under the insurance policy shall be used to pay off the loan together with interest and all costs and expenses. Any remaining balance will be credited to your transactional account. You acknowledge that we are not the insurer and do not provide the cover and that when we process the form and any claim it is purely administrative.
Sample 1
Creditor Insurance. Flexiti will promote and offer creditor insurance to Applicants and Cardholders electronically during the Application and/or Credit Transaction process. Provided that a written agreement is in effect between Flexiti and TGI, and subject to Applicable Law and appropriate support from TGI as issuer of the creditor insurance product, Flexiti agrees to serve as the distributor of creditor insurance issued by TGI to Cardholders for the Province of Quebec, and will work with LFL and TGI towards the launch or relaunch of a compliant creditor insurance program in the Province of Quebec. Provided that Trans Global Insurance Company and Trans Global Life Insurance Company (collectively, “TGI”) remain Affiliates of Merchant, Flexiti agrees that it will only promote creditor insurance provided by TGI in connection with the Program, provided that TGI and Flexiti have a written agreement in effect in connection with same.
Sample 1

Related to Creditor Insurance

  • Group Insurance 38.01 The Group Insurance Plan presently in effect shall remain in effect during the term of this Agreement.

  • R&W Insurance During the Interim Period, Acquiror may (but shall not be required to) obtain a buyer-side representations and warranties insurance policy with respect to the representations and warranties of the Company, in the name of and for the benefit of Pubco (the “R&W Policy”), which the Acquiror shall give the Company and its Representatives a reasonable opportunity to review and must be reasonably satisfactory to the Company. The Company will use commercially reasonable efforts to provide to Acquiror, during the Interim Period, reasonable assistance as is reasonably required so as to permit the binding and issuance of the R&W Policy at or prior to the Closing, including the execution and delivery of such no-claims declarations as is reasonably necessary (with such exceptions as deemed necessary by the Company) in connection with the issuance of the R&W Policy; provided that any such no-claims declaration given by an officer of the Company shall only be required to be given in such individuals’ capacity as an officer of the Company, and not in any individual capacity; provided further that the failure to deliver any no-claims declaration or breach of the covenants set forth in this Section 7.09, shall not constitute a failure of the condition set forth in Section 10.02(b) to be satisfied. If obtained by Acquiror, the R&W Policy shall provide that (i) the insurer or a Person claiming through the insurer shall have no, and shall waive and not pursue any and all, subrogation rights against the Company (including any successor entities) or any of its (including any successor entities) Affiliates (including any Pre-Closing Holder) with respect to any claim made by any insured thereunder (except against such Person to the extent a claim is paid by the insurer under the R&W Policy as a direct result of such Person’s Fraud); (ii) the Company (including any successor entities) is a third-party beneficiary of such waiver with the express right to enforce such waiver; and (iii) no Person shall amend the R&W Policy in a manner adverse to the Company (including any successor entities) or any of its Affiliates (including any Pre-Closing Holder) (including, for the avoidance of doubt, to provide that the insurer or any other Person may bring a claim against the Company (including any successor entity) or its Affiliates (including any Pre-Closing Holder) by way of subrogation (except as a direct result of such Person’s Fraud)), without the Company’s prior written consent. All reasonable and documented out-of-pocket costs and expenses incurred by Acquiror and the Company in obtaining the R&W Policy, including all premiums, brokers fees, and related costs, shall be treated as Acquiror Transaction Expenses.

  • R&W Insurance Policy Purchaser shall use its reasonable best efforts to bind the R&W Insurance Policy at or prior to the Closing. Purchaser shall use reasonable best efforts to take all actions necessary to complete the applicable conditions in the conditional binder (other than the condition that the Closing has occurred, to which this sentence does not apply) to the R&W Insurance Policy within the times set forth therein to maintain the R&W Insurance Policy in full force and effect. Following the final issuance of the R&W Insurance Policy, Purchaser agrees to use reasonable best efforts to keep the R&W Insurance Policy in full force and effect for the policy period set forth therein. Purchaser shall provide a copy of the R&W Insurance Policy to Seller upon request. Purchaser agrees that the R&W Insurance Policy shall expressly exclude any right of subrogation against Seller and its Affiliates and their respective officers, directors and employees (except in the case of Fraud), and neither Purchaser nor its Affiliates shall amend or waive such subrogation provisions without Seller’s prior written consent. The Parties acknowledge that Purchaser obtaining the R&W Insurance Policy is a material inducement to Seller entering into the transactions contemplated by this Agreement, and Seller is relying on Purchaser’s covenants and obligations set forth in this Section 5.15(a). The R&W Insurance Policy may not be amended or waived by Purchaser or its Affiliates in any manner that is adverse to Seller or any of its Affiliates without Seller’s prior written consent. At or promptly following the Closing, Seller shall deliver to Purchaser or its Representatives, as reasonably requested by Purchaser, a digital copy of all documents and other information uploaded to the virtual data room established by Seller and its Representatives and to which Purchaser and its Representatives have been granted access as part of their due diligence of the transactions contemplated hereby (the “Data Room”).

  • OPTIONAL INSURANCE Landlord may maintain such additional insurance with respect to the Building and the Property, including, without limitation, earthquake insurance, terrorism insurance, flood insurance, liability insurance and/or rent insurance, as Landlord may in its sole discretion elect. Landlord may also maintain such other insurance as may from time to time be required by the holder of any mortgage on the Building or Property. The cost of all such additional insurance shall also be part of the Landlord’s Operating Expenses.

  • FDIC Insurance For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Evolve Bank & Trust are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • LESSEE'S INSURANCE a. Lessee covenants to provide at Lessee's cost and expense on or before the earlier of (i) the Commencement Date, or (ii) Lessee's taking actual possession for the purpose of completing any improvement work, and to keep in full force and effect during the entire Term and so long thereafter as Lessee, or anyone claiming by, through or under Lessee, shall occupy the Premises, insurance coverage as follows:

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • Use of Insurance Proceeds The Contractor shall immediately use any payment received from insurance coverages to remediate civil or environmental damages, and to repair or replace any damaged or destroyed Materials. If an insurance company withholds payment on a claim, the Contractor shall assume the Costs of repair or replacement.

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