Return of Unused Premium Escrow Upon Policy Maturity Sample Clauses

Return of Unused Premium Escrow Upon Policy Maturity. Following the maturity of any Policy, any funds held in the Fractional Holders’ Premium Reserve Escrow Account or the Premium Payment Account for the payment of premiums related to any Beneficial Ownership in the Policy shall be paid out to the Position Holder Trust and Continuing Fractional Interest Holders entitled to receive payment of the death benefits included in the Beneficial Ownership at the time the maturity proceeds are distributed, in accordance with their respective interests in the funds held for payment of premiums on the Policy (which will vary by Holder based on escrows carried over, premiums paid and other relevant factors). Servicing Agreement 6 Insured Monitoring Servicer shall, directly or through a duly licensed subcontractor approved by Position Holder Trust, commence performing each of the following Insured Monitoring Services with respect to the Insured under each Policy: Servicer shall make or attempt to make contact with each Insured under a Policy on an annual basis in order to update contact information. Contact method options include, but are not limited to, telephone, facsimile transmission, email or other electronic communication, written communication via mail service and/or any available database with or about an Insured, an Insured’s physician(s) and/or a designated contact. Further, Servicer shall attempt to obtain current contact information and monitor the life status of each Insured by researching two (2) industry-recognized databases on a calendar month basis. If Servicer is unable to confirm the location of any Insured, Servicer shall notify the Position Holder Trust of such inability and shall undertake all reasonable action to find such Insured. In the event the reasonable attempts to contact such Insured, and his or her representative and contacts during a six (6) consecutive calendar month period fails and the death of such Insured cannot be confirmed by Servicer, Servicer shall promptly notify the Position Holder Trust. Servicer shall create a report listing the Insureds that Servicer has been unable to locate or for whom Servicer has been unable to confirm a death that describes the actions taken to date (the “Missing Insured Report”), and once every calendar month, Servicer shall upload the Missing Insured Report to the Network Recourses and notify the Position Holder Trust of such upload. Servicing Agreement 1 Administrative Services Servicer shall use commercially reasonable efforts to perform each of the f...
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Related to Return of Unused Premium Escrow Upon Policy Maturity

  • Termination Prior to Maturity Date; Survival All covenants, representations and warranties made in this Agreement shall continue in full force until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, and any other obligations which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Those obligations that are expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination.

  • Notification of Maturity Date With respect to each Mortgage Loan, the Seller shall execute and deliver to the Mortgagor any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the maturity date if required under applicable law.

  • Final Maturity Date 23 Fitch.........................................................................................23

  • Single Premium Credit Life Insurance None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies;

  • Single-Premium Credit Life Insurance Policy In connection with the origination of any Mortgage Loan, no proceeds from any Mortgage Loan were used to finance or acquire a single-premium credit life insurance policy;

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Designation of Certificates; Designation of Startup Day and Latest Possible Maturity Date The Seller hereby designates the Classes of Class A Certificates (other than the Class II-A-R and Class II-A-LR Certificates) and the Classes of Class B Certificates as classes of "regular interests" and the Class II-A-R Certificate as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively. The Seller hereby further designates the Class I-L Interest, Class I-LS Interest, Class II-L Interest, and Class II-LS Interest as classes of "regular interests" and the Class II-A-LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for the purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively. The Closing Date is hereby designated as the "Startup Day" of each of the Upper-Tier REMIC and the Lower-Tier REMIC within the meaning of Code Section 860G(a)(9). The "latest possible maturity date" of the regular interests in the Upper-Tier REMIC and the Lower-Tier REMIC is September 25, 2034 for purposes of Code Section 860G(a)(1).

  • Interest After Maturity Any amount of the Loans not paid when due, whether at the date scheduled therefor or earlier upon acceleration, shall bear interest until paid in full at a rate per annum equal to the greater of (i) 2.00% in excess of the rate applicable to the unpaid principal amount immediately before it became due, or (ii) 2.00% in excess of the Base Rate in effect from time to time.

  • Final Maturity The Stated Maturity Date for any Note will be the date so specified in the Supplement, which shall be no later than 397 days from the date of issuance. On its Stated Maturity Date, or any date prior to the Stated Maturity Date on which the particular Note becomes due and payable by the declaration of acceleration, each such date being referred to as a Maturity Date, the principal amount of each Note, together with accrued and unpaid interest thereon, will be immediately due and payable.

  • Collateralization of Obligations Extending Beyond Maturity If Borrower has not secured to Bank’s satisfaction its obligations with respect to any Ancillary Services by the Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure such obligations to the extent of the then continuing or outstanding Ancillary Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable Ancillary Services are outstanding or continue.

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