DEBT PROTECTION. Debt protection is not required for any extension of credit under this Agreement. However, You may purchase any debt protection available through Us and have the costs added to Your outstanding balance. If You elect to do so, You will be given the necessary disclosures and documents separately.
DEBT PROTECTION. Loan Protection is not required to obtain credit. If loan protection is offered on Your account and You request loan protection, the fee will be calculated monthly by multiplying the fee rate by the outstanding balance of each account. The fee rates per $1,000.00 of the monthly outstanding balance are disclosed to You in the Visa® Credit Card application. Fees will be posted at or after the end of each month. The fees for Your loan protection will be added to Your outstanding balance each month, upon which they will accrue interest. Although such protection is freely cancelable, it will be retained in effect until You have notified the Credit Union in writing of Your intention to cancel. If You are late in paying or fail to pay Your periodic payment, the Credit Union may advance funds on Your behalf to pay such fees and the Credit Union may impose additional finance charges on the amount financed.
DEBT PROTECTION. 31.1.1 You will receive Automatic Debt Protection cover, an embedded value add service and a credit life insurance plan which provides cover against the outstanding balance or the maximum specified amount, whichever is the lesser amount, on your credit card facility at the time of your death or permanent disability, subject to the following conditions: • We (the Insurer) must receive satisfactory proof of your death or permanent disability within twelve (12) months of the event; • We will not waive any amount owing to us that is greater than twelve thousand Rand (R12 000) for Cardholders.
DEBT PROTECTION. Debt Protection is not required as a condition of credit. If I choose voluntary Debt Protection, the fees for such coverage will be added to my outstanding balance. If I do not make any payment when due, you may at your option, cancel such coverage. You may also have the option of paying the monthly fees and adding them to my outstanding balance where they will be subject to the Daily Periodic Rate disclosed.
DEBT PROTECTION. At the time the Partnership exercises the Option, if a Contributor or an Indirect Owner would have a “negative capital account” with respect to the Units received in exchange for the Property upon exercise of the Option (each an “Affected Person”), the Partnership shall negotiate in good faith with such Affected Person to provide Debt Protection for the Term (with such terms and exceptions as shall be determined by the Partnership in good faith) so as to permit such Contributor or Indirect Owner to avoid recognizing gain with respect to such “negative capital account” during the Term (except upon a disposition of part or all such Contributor’s or Indirect Owner’s direct or indirect interest in the Units issued by the Partnership on the Closing Date). As used herein, the term “negative capital account” means, in the case of the Contributor, the amount by which the Contributor’s allocable share (under Section 752 of the Code) of the liabilities to which the Property is subject or that are assumed by the Partnership on the Closing Date exceed the Contributor’s adjusted tax basis in the Property on the Closing Date (and in the case of an Indirect Owner, such Indirect Owner’s proportionate share of such excess, determined in accordance with the applicable income tax regulations).
DEBT PROTECTION. (a) Subject to the provisions of this Section 4, during the Protection Period, the Company may sell, assign, transfer, refinance (with recourse or nonrecourse indebtedness) mortgage, pledge or otherwise deal with any of the Contributed Assets provided, however, that the Company and/or FCEI will (i) maintain, and cause each of the entities classified as a partnership for Federal income tax purposes in which the Company holds a direct or indirect interest to maintain, an amount of indebtedness, in the aggregate, at least equal to $500 million reduced by the Cumulative Liability Adjustment, (ii) if the Company chooses to refinance (or cause or permit to be refinanced) existing indebtedness, use commercially reasonable efforts to cause such refinancing indebtedness to be “qualified nonrecourse financing” within the meaning of Section 465(b)(6)(B) of the Code; (iii) use commercially reasonable efforts to replace such indebtedness with other indebtedness, rather than retire existing indebtedness with equity or FCEI loans, unless in its reasonable business judgment it is in the best interests of FCEI to do so; and (iv) provide each of the Protected Parties that holds a direct or indirect interest in the Company with an opportunity to undertake obligations in a form reasonably acceptable to, and in no way detrimental to, the Company, the intent of which is to allocate indebtedness to such parties for purposes of Section 752 of the Code and the Treasury Regulations promulgated thereunder (a “Guaranty Opportunity”). If any Protected Party intends to undertake a Guaranty Opportunity, it shall provide a written notification to the Company Representative of such intention. In addition to the foregoing, if in its reasonable business judgment, FCEI or the Company determines that it is in the best interests of FCEI or the Company to retire (or cause to be retired) existing debt with equity contributions, then FCEI will use commercially reasonable efforts to cooperate with the Protected Party Representative in structuring the debt retirement to minimize adverse income tax consequences to a Protected Party through (A) a merger of certain BCR Entities, (B) allowing Protected Parties or affiliates thereof to participate in the equity contribution (e.g., by BCR making a loan to the Company), or (C) any other reasonable request by the Protected Party Representative which would involve no cost to FCEI.
DEBT PROTECTION. If you elect Debt Protection, as set forth in your application or otherwise, then the charges will be added to your account balance on each billing cycle, if your Debt Protection application is approved. Debt Protection is voluntary and not required to obtain a credit card account with us. You have the right to terminate this Debt Protection at any time by notifying us in writing. Debt Protection coverage is not available for Visa Business Platinum Cards.
DEBT PROTECTION. 38.1 Debt Protection Plan 1 explained • This benefit protects you and your family in the event of your death or permanent disability from the outstanding balance of your personal kulula credit card or the specified maximum amount as stated in the table below, whichever is the lesser at the time of the event. The risk benefit cover will end on your 70th birthday. This benefit is also subject to the exclusions as contained in the Debt Protection Plan Policy brochure terms and conditions. However, should your account not be in good standing at the time of the event, no benefit • will be paid out to you The benefits are outlined below: Debt Protection Plan Death Permanent Disability Plan 1 ✓ ✓
DEBT PROTECTION. Debt Protection is voluntary and is not a condition of approval of this loan. It will only be made available if you sign a separate election form. DEFAuLT: You will be in default if: 1) you do not pay on time or in the proper amount(s);
DEBT PROTECTION. If you elect debt protection offered by the Credit Union, then the charges will be added to your account balance each billing cycle. Debt protection offered by the Credit Union is voluntary and is not required to obtain a credit card account with us. You have the right to terminate debt protection offered by the Credit Union at any time by notifying us in writing.
