PROGRAM OF INTERNAL REPLACEMENT Clause Samples

The Program of Internal Replacement clause establishes a framework for replacing existing products, services, or components within an organization with updated or alternative versions from the same provider. Typically, this clause outlines the procedures, eligibility criteria, and timelines for initiating and completing such replacements, ensuring that transitions are managed smoothly and with minimal disruption. Its core function is to facilitate the ongoing modernization or improvement of offerings while maintaining continuity and reducing operational risks associated with outdated or obsolete elements.
PROGRAM OF INTERNAL REPLACEMENT. Should the Company, its affiliates, successors or assigns, initiate a Program of Internal Replacement, as defined below, that would include any of the Reinsured Policies hereunder, the Company will immediately notify the Reinsurer. For each Reinsured Policy hereunder that has been replaced under a Program of Internal Replacement, the Reinsurer shall have the option, at its sole discretion, of either treating the Reinsured Policies as recaptured or continuing reinsurance on the new policy under this Agreement.
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PROGRAM OF INTERNAL REPLACEMENT. Should Central United, Commonwealth National Life Insurance Company (“Commonwealth National”), or any of their affiliates, successors or assigns, initiate a Program of Internal Replacement (as defined below) that would include any of the Assumed Policies (as defined in the Coinsurance Agreement) reinsured under this Agreement, Central United will immediately notify KRE. For each Assumed Policy reinsured under this Agreement that has been replaced under a Program of Internal Replacement, KRE shall have the option, at its sole discretion, of either treating the liability thereon as recaptured or continuing reinsurance on the new policy under this Agreement.
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PROGRAM OF INTERNAL REPLACEMENT. Should the Company, its affiliates, successors, or assigns, initiate a program of internal replacement, as defined below, that would include any of the risks reinsured hereunder, the Company will immediately notify the reinsurer. For each risk reinsured hereunder that has been replaced under a program of internal replacement, the reinsurer shall have the option at its sole discretion, of either treating the risks reinsured as recaptured, or continuing reinsurance on the new policy under this Agreement. The term "program of internal replacement" shall mean any program offered to a class of policy owners in which a policy or any portion of a policy is exchanged for another policy, not reinsured under this Agreement, which is written by the Company, its affiliates, successors, or assigns.
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PROGRAM OF INTERNAL REPLACEMENT 
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Related to PROGRAM OF INTERNAL REPLACEMENT

  • Evaluation, Testing, and Monitoring 1. The System Agency may review, test, evaluate and monitor Grantee’s Products and services, as well as associated documentation and technical support for compliance with the Accessibility Standards. Review, testing, evaluation and monitoring may be conducted before and after the award of a contract. Testing and monitoring may include user acceptance testing. Neither the review, testing (including acceptance testing), evaluation or monitoring of any Product or service, nor the absence of review, testing, evaluation or monitoring, will result in a waiver of the State’s right to contest the Grantee’s assertion of compliance with the Accessibility Standards. 2. Grantee agrees to cooperate fully and provide the System Agency and its representatives timely access to Products, records, and other items and information needed to conduct such review, evaluation, testing, and monitoring.

  • Training Program It is agreed that there shall be an Apprenticeship Training Program, the provisions of which are set forth in Exhibit "D", which is attached hereto and forms part of this Agreement.

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  • PROCUREMENT ETHICS Contractor understands that a person who is interested in any way in the sale of any supplies, services, construction, or insurance to the State of Utah is violating the law if the person gives or offers to give any compensation, gratuity, contribution, loan, reward, or any promise thereof to any person acting as a procurement officer on behalf of the State of Utah, or who in any official capacity participates in the procurement of such supplies, services, construction, or insurance, whether it is given for their own use or for the use or benefit of any other person or organization.

  • Sick Leave Reporting and Verification Employees must promptly notify their supervisor on their first day of sick leave and each day after, unless there is mutual agreement to do otherwise. If an employee is in a position where a relief replacement is necessary if they are absent, they will notify their supervisor at least two (2) hours prior to their scheduled time to report to work (excluding leave taken in accordance with the Domestic Violence Act). Unless otherwise precluded by law, the Employer has reason to suspect abuse, the Employer may require a written medical certificate for any sick leave absence. An employee returning to work after any sick leave absence may be required to provide written certification from their health care provider that the employee is able to return to work and perform the essential functions of the job with or without reasonable accommodation.