TERMINATION DATE OF INSURANCE COVERAGE Sample Clauses

TERMINATION DATE OF INSURANCE COVERAGE. The 31st day following the due date of a required contribution if the insurance office fails to receive such contribution by the 31st day; or if received, then the last day of calendar quarter in which the dealer-owner, as determined by Ford Motor Company. (1) Ceases to be active in the operation of the dealership for reasons other than disability. (2) Ceases to own at least 20% as shown in the most recent amendment or assignment, renewal or interim agreement. (3) Ceases to be an authorized Dealer under Ford Motor Company. Conversion allowed during 31 days following termination for reasons (1) (2) or (3) by the Metropolitan Life Insurance Company, 5130 Xxxxxxxxxx Xxxx., Xxxxx, Xxxxxxx 00000. AMOUNTS OF GROUP LIFE AND THE PRINCIPAL SUM OF ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) INSURANCE ------------------------------------------------------------------------------------------------ Owners must be insured for the amount of Life and AD & D applicable to their age and class, subject to plan maximum and applicable statutory provisions for Texas (see last page of Explanatory Booklet). Under 65 years of Age When First Insured --------------------------------------------------------------- Ownership Class Dealership --------------------------------------------------------------- Insurance Insurance At Least 20% At Least 50% 80% Credit Class But Less than 50% But Less than 50% Or Greater -------------------------------- ----------- -------- -------- -------- -------- -------- -------- Life AD & D Life AD & D Life AD & D -------- -------- -------- -------- -------- -------- Less than 150 Credits 1 $ 33,333 $ 33,333 $ 50,000 $ 50,000 $ 66,667 $ 66,667 150 But less than 300 Credits 2 66,667 66,667 100,000 100,000 133,333 133,333 300 But less than 500 Credits 3 100,000 100,000 150,000 150,000 200,000 200,000 500 But less than 800 Credits 4 133,333 133,333 200,000 200,000 266,666 266,666 800 But less than 12000 Credits 5 166,666 166,666 250,000 250,000 333,333 333,333 1200 or more Credits 6 200,000 200,000 300,000 300,000 400,000 400,000 65 Year of Age and Over When First Insured --------------------------------------------------------------- Ownership Class Dealership --------------------------------------------------------------- Insurance Insurance At Least 20% At Least 50% 80% Credit Class But Less than 50% But Less than 50% Or Greater -------------------------------- ----------- -------- -------- -------- -------- -------- -------- Life AD & D Life AD & D Life AD ...
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Related to TERMINATION DATE OF INSURANCE COVERAGE

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Insurance Coverages The Company shall procure and maintain in full force and effect throughout the Term of this Agreement insurance coverages of the following types and amounts and with insurance companies rated not less than A- by A.M. Best, or otherwise equivalent in respect of the Company’s properties and operations:

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Post-Termination Insurance Coverage (a) If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, or because of disability, the Bank shall continue or cause to be continued at the Bank’s expense medical and life insurance benefits for the Executive and any of his dependents covered at the time of his termination. The medical insurance benefits shall continue until the first to occur of (w) the Executive’s return to employment with the Bank or another employer, (x) the Executive’s attainment of age 65, (y) the Executive’s death, or (z) the end of the term remaining under this Agreement when the Executive’s employment terminates.

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

  • Insurance Covenants Lessee will:

  • Minimum Debt Service Coverage The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.

  • Special Coverages Tenant shall carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of the Tenant Improvements, and such other insurance as Landlord may require, it being understood and agreed that the Tenant Improvements shall be insured by Tenant pursuant to the Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be reasonably required by Landlord, and in form and with companies as are required to be carried by Tenant as set forth in the Lease.

  • No Defense to Insurance Coverage No action has been taken or failed to be taken, no event has occurred and no state of facts exists or has existed on or prior to the Purchase Date (whether or not known to Seller on or prior to such date) which has resulted or will result in an exclusion from, denial of, or defense to coverage under any private mortgage insurance (including, without limitation, any exclusions, denials or defenses which would limit or reduce the availability of the timely payment of the full amount of the loss otherwise due thereunder to the insured) whether arising out of actions, representations, errors, omissions, negligence, or fraud of Seller, the related Mortgagor or any party involved in the application for such coverage, including the appraisal, plans and specifications and other exhibits or documents submitted therewith to the insurer under such insurance policy, or for any other reason under such coverage, but not including the failure of such insurer to pay by reason of such insurer’s breach of such insurance policy or such insurer’s financial inability to pay.

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