MPIC Clause Samples
The MPIC (Most Preferred Interpretation Clause) establishes a rule for interpreting ambiguous terms or provisions within a contract. In practice, if a dispute arises over the meaning of a clause, the MPIC directs that the interpretation most closely aligned with the parties' original intent or the most reasonable meaning should prevail. This clause helps prevent prolonged disputes over unclear language by providing a clear standard for resolving ambiguities, thereby ensuring greater certainty and fairness in contract enforcement.
MPIC. The MPIC is in full force and effect and no default has occurred thereunder.
MPIC. The Borrowers shall cause the General Partner and the Policy Subsidiary to preserve and keep in full force and effect the MPIC without any default thereunder and shall not cancel the MPIC. The Borrowers shall cause all amounts payable to the General Partner and the Policy Subsidiary under the MPIC to be deposited into the Borrower Account.
MPIC. Evidence that the MPIC is in full force and effect covering all of the Life Policies and that no default has occurred under the MPIC.