LifeCAD System will Clause Samples

The 'LifeCAD System will' clause sets out specific obligations or actions that the LifeCAD System is required to perform under the agreement. Typically, this clause details the functionalities, services, or deliverables that the LifeCAD System must provide, such as processing data, generating reports, or integrating with other systems. By clearly defining what the LifeCAD System is expected to do, this clause ensures both parties have a mutual understanding of the system's role and helps prevent disputes over performance or service expectations.
LifeCAD System will. 1. Produce the contract data page, standard policy pages, state variation pages. 2. Calculate and process periodic charges as specified in product prospectuses. 3. Calculate and process valuations as specified by product prospectus(es). 4. Calculate and process withdrawals (partial, full, periodic) as specified. 5. Calculate and process annuity payout amounts. 6. Calculate and process periodic transactions including free look transfer, dollar cost averaging transfer, automatic rebalance transfer as specified in the prospectus. 7. Produce reporting including confirmations, client statements, daily transactions, notification of upcoming maturities, lapse notification, billing notices, qualified plan reporting, COLI reporting. 8. Produce required extract files including accounting, tax reporting, production, electronic funds transfer, check writing, reinsurance, valuation, inforce illustration, SLD client alpha index, proxy solicitation. 9. Produce reports required to transact daily business with the mutual funds and for periodic reconciliations. 10. Accept import of unit values (accumulation, annuity) from FASCorp system. 11. Calculate and process changes in death benefits. 12. Perform appropriate past due processing on life products. Allow for reinstatements. 13. Accommodate other product features described in prospectus including persistency refunds, guaranteed death benefit provisions and riders. 14. Handle subsidiary/affiliate companies with products substantially similar to those of SLD. 15. Track state approvals by product, by company. As SLD will do the actual product filings information regarding approvals will be provided to FASCorp. 16. Store and provide access to agent licensing information. As SLD will do the actual agent appointments, information will be provided to FASCorp via interface with SLD systems and LifeCAD. 17. Accommodate SLD and regulatory audit requirements. 18. Maintain client account history as required to process transactions and administer contract provisions. 19. Systems will automatically interface with SLD and FASCorp systems. A scheduled time for data transmission will be determined and daily user involvement will not be required. 20. Interface LifeCAD with SLD to automatically feed to SLD systems any necessary updates for other SLD policies. 21. Provide information necessary for proxy preparation and mailings.
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Related to LifeCAD System will

  • System Logging The system must maintain an automated audit trail which can 20 identify the user or system process which initiates a request for PHI COUNTY discloses to 21 CONTRACTOR or CONTRACTOR creates, receives, maintains, or transmits on behalf of COUNTY, 22 or which alters such PHI. The audit trail must be date and time stamped, must log both successful and 23 failed accesses, must be read only, and must be restricted to authorized users. If such PHI is stored in a 24 database, database logging functionality must be enabled. Audit trail data must be archived for at least 3 25 years after occurrence.

  • System Upgrades The Connecting Transmission Owner shall procure, construct, install, and own the System Upgrade Facilities and System Deliverability Upgrades described in Attachment 6 of this Agreement. To the extent that design work is necessary in addition to that already accomplished in the Class Year Interconnection Facilities Study for the Interconnection Customer, the Connecting Transmission Owner shall perform or cause to be performed such work. If all the Parties agree, the Interconnection Customer may construct System Upgrade Facilities and System Deliverability Upgrades. 5.2.1 As described in Section 32.3.5.3 of the SGIP in Attachment Z of the ISO OATT, the responsibility of the Interconnection Customer for the cost of the System Upgrade Facilities and System Deliverability Upgrades described in Attachment 6 of this Agreement shall be determined in accordance with Attachment S of the ISO OATT, as required by Section 32.3.5.3.2

  • System Upgrade Facilities and System Deliverability Upgrades Connecting Transmission Owner shall design, procure, construct, install, and own the System Upgrade Facilities and System Deliverability Upgrades described in Appendix A hereto. The responsibility of the Developer for costs related to System Upgrade Facilities and System Deliverability Upgrades shall be determined in accordance with the provisions of Attachment S to the ISO OATT.

  • System Use (a) An electronic site access system may be used on site, subject to the requirements of this statement. (b) The system operates via: (i) a facial recognition device; and (ii) an electronic gate. (c) The system will be installed at the access and egress point/s of the site and will only be utilised to identify presence on site. (d) The purpose for which the electronic site access system will be implemented is to ensure: (i) avoiding unauthorised access to site; (ii) confirmation and co-ordination of effort in emergency situations; and (iii) confirmation that all entrants to site have received a site specific induction; (e) The only personal data collected by the system is a site entrant’s: (i) image; (ii) first & last name; (iii) mobile phone number; (iv) email address; and (v) employer’s name. (the Collected Data) (f) The Collected Data will only be held or used for the purposes specified above, unless otherwise by consent or required by law. (g) The Employer will not use the electronic site access control system to verify who was on a site at a particular time for the purpose of: (i) evaluating whether a variation claim regarding labour costs made by a subcontractor can be substantiated; (ii) taking disciplinary action against an Employee, or assisting a subcontractor to take disciplinary action against its own employees, regarding their start and finish times; or (iii) otherwise generally tracking a worker’s movements whilst on the site.

  • Connectivity User is solely responsible for providing and maintaining all necessary electronic communications with Exchange, including, wiring, computer hardware, software, communication line access, and networking devices.