On Multiple Extra Premiums Sample Clauses

On Multiple Extra Premiums. The same allowances as those payable on the basic policy.
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On Multiple Extra Premiums. The same rates and commissions as those payable on the basic policy. EXHIBIT C-V POLICY CONTINUATION RIDER The Policy Continuation Rider (PCR) is an option, granted to the beneficiary, for a limited period of time, to purchase insurance on the surviving life without evidence of insurability, at the time of the first death. AMOUNT THAT CAN BE PURCHASED ON THE SURVIVING LIFE. The amount of insurance that can be purchased at the time this option is exercised will not exceed the optional amount stated in the rider. The optional amount will be determined at issue (where "at issue" means the time at which the rider is attached to the base policy). The maximum amount of optional insurance will be the death benefit on the policy at issue. However, any paid-up additions (whether it be from an adds rider or from dividends) that are used to increase the death benefit at the same time the PCR is issued (versus adds which have accumulated to date) will be excluded when determining the maximum optional amount. This is due to system considerations and therefore we should have an exception handling capability. Consider the following New Issue examples: A $1 million base with paid-up adds is issued with a $.25 million of SPAR. The maximum optional amount is $1 million. A $1 million base with a $1 million of flex. The maximum optional amount is $2 million. Consider the following After Issue examples in which a PCR is attached on the 10th policy anniversary: $1 million base with $.5 million of accumulated adds (but before the 10th policy year dividends have been applied), then the maximum optional amount is $1.5 million. Same example as above but a Flex II term rider is attached simultaneously for $1 million. The maximum optional amount is $2.5 million. Same example as above but a Flex I term rider is attached simultaneously for $1 million. The maximum optional amount is $2.0 million. The option amount will, as usual, be subject to reinsurance availability. EXPIRY OF THE OPTION This option must be exercised within 90 days of the first death. Temporary term coverage will be provided on the life of the surviving insured, during the 90 days or to the date upon which the option is exercised if this is earlier. The coverage amount equals the optional insurance stated in the rider. The proceeds will be paid to the surviving beneficiary's estate. No additional charge is made for this temporary term coverage. The last age on which we will issue a policy on the surviving life is age ...
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Related to On Multiple Extra Premiums

  • Shift Premiums (a) All employees who are required by the Employer to rotate over two (2) or more shifts shall receive a shift premium of thirty cents ($0.30) for each hour worked on the afternoon or evening shifts only. Shift premium will not be paid for any hour in which an employee receives overtime premium and shift premium will not form part of the employee's straight time hourly rate. (b) In no event shall there be any pyramiding of benefits or payments.

  • Maximum Total Compensation Subsection 10.1 is amended to Increase Decrease the Maximum Total Compensation from $ to $ .

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Multiple Bedroom Spaces If this Housing Agreement expressly identifies more than one bedroom space in a multi-bedroom apartment as assigned to Resident on page 1, then: (a) references to a “space” or “spaces” will be deemed to refer to all of the spaces assigned to Resident, or to the entire apartment if all of the bedrooms in an apartment are assigned to Resident; and (b) if Resident is assigned fewer than all of the bedroom spaces in an apartment, use of common areas will continue to be shared with other residents of the apartment and any calculation of Resident’s share of any charges assessed pro rata to all residents of an apartment will be made by dividing the number of bedroom spaces assigned to Resident by the total number of occupied bedroom spaces within the apartment.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.