TERMINATION FROM EXCESS LOAN Sample Clauses

TERMINATION FROM EXCESS LOAN. If the Death Benefit Guarantee is not in force, this contract will terminate when:
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TERMINATION FROM EXCESS LOAN. If the Death Benefit Guarantee is not in force, this contract will terminate when: 1) The Debt exceeds the Accumulated Value less the Decrease Charge applied to the Face Amount and to any decreases in Face Amount (for which Decrease Charges were not previously made) due to Partial Surrender or change of Death Benefit Option; and 2) Sixty-one days have elapsed since we mailed a notice to you at the address last known to US. W3-VC-VUL-19 page 19 Contract Number: LV1234567 ------------------------------------------------------------------------- 9. VARIABLE ACCOUNT AND UNIT VALUE ------------------------------------------------------------------------- 9.1 VARIABLE ACCOUNT. We have established the Variable Account shown on page 6 as a separate investment account according to Minnesota laws. The Variable Account is registered with the SEC as a unit investment trust under the Investment Company Act of 1940. The Variable Account has subaccounts which invest in shares of the LB Series Fund, Inc. (the Fund). The Fund is registered with the SEC under the Investment Company Act of 1940 as a diversified open-end management investment company. Each subaccount purchases shares in a specified portfolio of the Fund. Amounts allocated to each subaccount buy shares of the portfolio for that subaccount at net asset value. The portfolios and subaccounts are shown on page 6. We may add additional subaccounts to invest in a new portfolio of the Fund or in a different investment company. We own the assets of the Variable Account. Assets equal to the reserves and other liabilities of the Variable Account may not be charged with liabilities from any other business we conduct. However, we may transfer assets of the Variable Account in excess of account reserves and liabilities to our General Account. Income and realized and unrealized gains and losses from each subaccount of the Variable Account are credited to or charged against that subaccount. The value of the assets in the Variable Account is determined at the end of each Valuation Day. 9.2
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Related to TERMINATION FROM EXCESS LOAN

  • Required Payments; Termination Any outstanding Advances and all other unpaid Obligations shall be paid in full by the Borrower on the Facility Termination Date.

  • DEDUCTION FROM SALARY A. The Board agrees to deduct from the salaries of its employees dues for the Flemington-Raritan Education Association, Hunterdon County Education Association, the New Jersey Education Association, and the National Education Association, as said teachers individually and voluntarily authorize the Board to deduct. Said deductions shall be made in compliance with N.J.S.A. 52-14-15.9(e) and under rules established by the State Department of Education. Said moneys, together with records of any corrections, shall be transmitted to the Treasurer of the Flemington-Raritan Education Association by the 15th of each month following the monthly pay period in which deductions were made. Upon termination of employment of any teacher, the disbursing officer shall deduct any remaining amount due for that current school year. The Association Treasurer shall disburse such moneys to the appropriate association or associations. Teacher authorizations shall be in writing in the form set forth: AUTHORIZATION TO DEDUCT ASSOCIATION MEMBERSHIP DUES Name Soc. Sec. # School Bldg. District To: Disbursing Officer Board of Education I hereby request and authorize the above-named disbursing officer to deduct from my earnings an amount sufficient to provide for the payment of those yearly membership dues, as certified by the organizations indicated, in equal monthly payments for all or part of the current school year and for the succeeding school year. I understand that the disbursing officer will discontinue such deductions only if I file such notice of withdrawal which shall be effective to halt deductions as of the January 1st or July 1st date. I also agree that upon termination of employment, the disbursing officer shall deduct any remaining amount due for that current school year. I hereby waive all right and claim for said moneys so deducted and transmitted in accordance with this authorization, and relieve the governing Board and all its officers from any liability thereof. I designate the Flemington-Raritan Education Association to receive dues and distribute according to the organizations named: Flemington-Raritan Education Association $ Hunterdon County Education Association $ New Jersey Education Association $ National Education Association $

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Termination of Servicer (a) If a Servicer Replacement Event shall have occurred and be continuing, the Indenture Trustee shall, at the direction of the Noteholders representing at least a majority of the Note Balance of the Controlling Class, by notice given to the Servicer, the Owner Trustee, the Issuer, the Administrator and the Noteholders, terminate the rights and obligations of the Servicer under this Agreement with respect to the Receivables. In the event the Servicer is removed or resigns as Servicer with respect to servicing the Receivables, the Indenture Trustee shall appoint a successor Servicer. Upon the Servicer’s receipt of notice of termination, such Servicer will continue to perform its functions as Servicer under this Agreement only until the date specified in such termination notice or, if no such date is specified in such termination notice, until receipt of such notice. If a successor Servicer has not been appointed at the time when the outgoing Servicer ceases to act as Servicer in accordance with this Section, the Indenture Trustee without further action will automatically be appointed the successor Servicer. Notwithstanding the above, the Indenture Trustee, if it is legally unable or is unwilling to so act, will appoint, or petition a court of competent jurisdiction to appoint a successor Servicer. Any successor Servicer shall be an established institution having a net worth of not less than $100,000,000 and whose regular business includes the servicing of comparable motor vehicle receivables having an aggregate outstanding principal amount of not less than $50,000,000.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Resignation from Positions Upon termination of the Executive’s employment with the Company for any reason, the Executive shall, as may be requested by the Company, resign from any position he then holds as an officer, director or fiduciary of the Company or any Company-related entity. In furtherance of the foregoing, the Executive shall execute and deliver to the Company any letters, documents and other instruments necessary or appropriate to effect such resignation.

  • Separation from Employment Employees who leave the District with a vacation balance shall have their vacation balance cashed out. If vacation is loaded on July 1st, the vacation balance shall be pro-rated prior to cash out.

  • Resignation from All Positions Upon the termination or resignation of the Executive’s employment with the Company for any reason, the Executive shall be deemed to have resigned, as of the date of such termination or resignation, from and with respect to all positions the Executive then holds as an officer, director, employee and member of the Board of Directors (and any committee thereof) of the Company and any of its Affiliates.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Separation from Service A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination also constitutes a “Separation from Service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment,” “separation from service” or like terms shall mean Separation from Service.

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