Fixed Portion definition
Examples of Fixed Portion in a sentence
Any prepayment of the Fixed Portion of the Term Loans under this Financing Agreement shall be accompanied by a concurrent reduction or prepayment by Borrower of its exposure and obligations under the Interest Rate Agreements then in effect as provided in Section 3.9(b).
Any amount being prepaid in respect of the Term Loans and/or Bridge Loans under this Financing Agreement (except for prepayments under Sections 3.6(a) and 3.6(b)) may, at the option of Borrower (i) be first applied to the Floating Portion and then to the Fixed Portion or (ii) may be applied to the Floating Portion and the Fixed Portion on a pro rata basis.
The Base Draw shall be payable by Oncology to Response out of the Oncology Operating Account on a monthly basis for the purpose of paying the Fixed Portion of the Base Service Fee and providing Response with an advance on its annual Performance Fee (if any).
The monthly reinsurance premium for a Reinsured Contract shall be the Quota Share of the sum of (i) the fixed portion of the monthly reinsurance premium ("Fixed Portion") plus (ii) the variable portion of the monthly reinsurance premium ("Variable Portion").
The Fixed Portion shall be the Fixed Reinsurance Premium Rate in effect for that Contract in accordance with Schedule I, or variation(s) thereof, at the end of that month times one half of the sum of (iii) the portion of the Account Value in the fixed subaccounts of such Contract on the first day of the month and (iv) the portion of the Account Value in the fixed subaccounts of such Contract on the last day of the month.
The "Fixed Portion of the Contracts" shall mean those benefits and contract rights that are guaranteed by the General Account of London Pacific, including but not limited to death benefits, surrender rights and annuity purchase guaranties.
Effective Date" shall mean 12:01 am Central time September 30, 2003 being the date and time upon which the coinsurance of the Fixed Portion of the Contracts shall occur and the date and time upon which the modified coinsurance of the Variable Portion of the Contracts shall also occur.
The Fixed Portion shall be paid quarterly in arrears on the fifth Business Day after the end of the quarter for which the services are rendered.
On or before the Recapture Date, FSL will transfer cash or other assets as may be agreed to by the parties equal to 100% of the Net Full CARVM statutory reserves held by FSL with respect to the Fixed Portion of the Contract.
Subject to the terms and conditions of this Agreement, as of the Effective Date London Pacific shall cede, and FSL shall assume on a coinsurance basis, 100% of London Pacific's Contract Liabilities with respect to the Fixed Portion of the Contracts.