Automatic Acceptance definition

Automatic Acceptance. If the Participant wishes to decline the Unit Award, the Participant must decline this Unit Award within 30 days of the Grant Date set forth below. If the Participant does not provide such notice within 30 days of the Grant Date, the Participant will be deemed to have accepted the Unit Award on the terms and conditions set forth in this Agreement. Grant Date: ____________________
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Automatic Acceptance means the acceptance for cover by us for certain members of a group without the need to provide medical evidence.
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Automatic Acceptance means the acceptance for insurance Cover by MLC of certain Eligible Members without the need to provide Evidence of Insurability.
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Examples of Automatic Acceptance in a sentence

  • For any policy to be reinsured under automatic reinsurance, the face amount shall not exceed the Automatic Acceptance Limit as shown in Schedule A.

  • Changes to the Company’s Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this Agreement, and will not affect the Automatic Acceptance Limits in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

  • If the Company decreases its Retention Limit, no reinsurance may be ceded on an automatic basis until the parties have reviewed and either expressly affirmed or revised the terms specified in Exhibit C-1 and the Automatic Acceptance Limits set out in Exhibit E.

  • The Company will automatically cede the amount of reinsurance to the Reinsurer according to the Automatic Acceptance Limits specified in Exhibit E.

  • Changes to the Company's Retention Limits in Exhibit D will not affect the Reinsured Policies in force at the time of such a change except as specifically provided for elsewhere in this Agreement, and will not affect the Automatic Acceptance Limits in Exhibit E unless mutually agreed in writing by the Company and the Reinsurer.

  • We also reserve the right to modify the Automatic Acceptance Limits if you elect to participate in another arrangement or arrangements to secure additional automatic binding capacity.

  • Furthermore, such a change will not affect the Automatic Acceptance Limits in Exhibit E unless mutually agreed by the Company and the Reinsurer.

  • On any one life the sum of all amounts inforce and applied for with CEDING COMPANY, excluding amounts being replaced, shall not exceed the Automatic Acceptance Limits shown in Schedule A.

  • The amount of the Reinsurer's liability will be the lesser of the Reinsurer's offer, the Conditional Receipt Amount set out in Exhibit A-2 or the Automatic Acceptance Limits set out in Exhibit E.

  • Increases underwritten in accordance with CEDING COMPANY's guidelines may be reinsured automatically if the following conditions are met: o The Specified Amount after the increase, along with other amounts inforce and applied for, does not exceed the Automatic Acceptance Limits or Automatic In-Force and Applied for Limit shown in Schedule A; and o The initial Specified Amount was reinsured automatically.


More Definitions of Automatic Acceptance

Automatic Acceptance means that we will agree to accept Eligible Persons for cover not exceeding the AAL, without the need for medical or other evidence, provided they meet the Eligibility Terms noted on this page.
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Automatic Acceptance or “Automatically Accepted” means the acceptance of Default Cover by us of an Eligible Person without the need for them to be Underwritten.
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Related to Automatic Acceptance

  • Date of Acceptance means the date, which appears on the Notice of Acceptance issued by the Principal and if no date appears is the date on which the Principal sent the Notice of Acceptance accepting the Contractor’s Quotation.

  • Order Acceptance has the meaning given in clause 1.2.

  • ▇▇▇▇ Acceptance Form means the “Acceptance Form for End User License Agreement (for SAP On Premise indirect sales)” which will be provided by SAP on a deal by deal basis.

  • Confirmation of Acceptance shall have the meaning specified in paragraph 2B(5).

  • Fax of Acceptance means intimation regarding notification of award by the Employer to the successful Bidder/Service Provider through a Fax/ Letter conveying that the Tender/Bid/Offer has been accepted in accordance with the provisions contained therein.