Policy Credit definition

Policy Credit has the meaning set forth in Section 8.2.
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Policy Credit means consideration to be paid in the form of an adjustment to policy values in any of the following specific forms, depending upon the policy: an increase in accumulation value under a policy that is a deferred annuity or individual universal life policy; an increase in the amount of the payments distributed under a policy that is in the course of annuity payments or that is a supplemental contract; an increase in the dividend deposits or additions under a policy that is an individual participating life insurance policy; an increase in the premium deposit fund under a life insurance policy that has no dividend option or that has a blended dividend option; or an extension of the expiry date on a policy that is in force as extended term life insurance pursuant to a non-forfeiture provisions of a life insurance policy.
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Policy Credit means (a) for an individual or joint participating whole life insurance Policy, the crediting of paid-up additions which will increase the cash value and death benefit of the Policy; (b) for supplementary contracts issued under optional modes of settlement or annuities in the course of installment payment without a defined account value and that provide for the payment of additional interest, the crediting of an additional amount in the form of additional interest; (c) for supplementary contracts issued under optional modes of settlement or annuities in the course of installment payment without a defined account value not providing for the payment of additional interest, an increase in the installment payment amount; and (d) for all other individual or joint life Policies and annuities, (i) if the Policy or contract has a defined account value, an increase in the account value, to which the Company will apply no sales, surrender or similar charges, or that will be further increased in value to offset any of these charges, or (ii) if the Policy or contract does not have a defined account value, the crediting of dividends under the Policy or contract.
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Examples of Policy Credit in a sentence

  • Additional disclosure pursuant to SEBI circular dated August 1, 2011: a) Credit Evaluation Policy: Credit Evaluation Policy for investment in debt securities evaluates various factors which determine the repayment ability of the borrower/issuer.

  • Policies and processes All credit risk related aspects are governed by Credit and Recovery Policy (Credit Policy).

  • For purposes of calculating the Policy Credit, the Policy Value, Insurance Benefit, outstanding Policy Debt, and any amount payable under any supplemental benefit riders are determined on the Processing Date before any Monthly Deductions are taken on that date.

  • Policy Credit The Policy Credit will no longer be credited to the Policy Value.

  • The Policy Credit Commencement Year, Policy Credit Duration, and Policy Credit Rate are each shown in Section 1.

  • Segment Balance The portion of the Policy Value in an individual Segment at any time on or after the Segment Initiation Date through the Segment Maturity Date equals: (a) the Initial Segment Balance; plus (b) the portion of any Policy Credit added to it; less (c) the portion of Monthly Deductions subtracted from it; less (d) the portion of withdrawals deducted from it.

  • The Policy Credit is equal to the Policy Credit Rate times the minimum of the Policy Value or the Policy Credit Limit.

  • A pharmacy that permits indirect supervision of a pharmacy technician during a pharmacist(s break shall have either an interactive voice response system or a voice mail system installed on the pharmacy phone line in order to receive new prescription orders and refill authorizations during the break.

  • Qualitative Disclosure:Credit Risk Management Policy Credit risk is the risk of loss from obligor or counterparty default.

  • Credit Evaluation Policy Credit Analysis at MAMF is an independent function performed by the Risk Management (RM) team.


More Definitions of Policy Credit

Policy Credit means consideration to be paid to certain Qualified Policyholders in the form of credits against future premium payments distributed as a dividend to be paid under a participating Policy.
Sample 1
Policy Credit means (i) for an individual or joint participating - whole life insurance Policy, the crediting of paid-up additions which will increase the cash value and death benefit of the Policy, and (ii) for all other -- individual or joint life Policies and annuities, (x) if the Policy or contract - has a defined account value, an increase in the account value, or, (y) if the - Policy or contract does not have a defined account value, the crediting of dividends left on deposit under the Policy or contract.
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Policy Credit. ’ means (i) for an individual or joint participating whole life insurance policy, the crediting of paid-up additions which will increase the cash value and death benefit of the policy, and (ii) for all other individual or joint life policies and annuities,
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Policy Credit means consideration to be paid in the form of an adjustment of policy values for certain Policies under this Plan. Policy Credits will be in any of the following specific forms, depending on the Policy:
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Policy Credit means an increase in accumulation account value (to which no surrender or similar charges will be applied) or an increase in a dividend accumulation on a Policy. "Public Cash Election Amount" has the meaning specified in Section 6.3(a)(v). "Public Eligible Members" shall mean any government authority, agency, department, board, commission or instrumentality of the United States, any State or any political subdivision thereof that is an Eligible Member. "Public Hearing" has the meaning specified in Section 2.2. "Record Date" shall mean December 17, 1997. "State" means the District of Columbia and any state, territory or insular possession of the United States of America. ARTICLE II:
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Policy Credit means consideration to be paid in the form of an increase in cash value, account value, dividend accumulations, face amount, extended term period or benefit payment, as appropriate, depending on the Policy. If the Policy is owned by a Qualified Plan Customer, the Policy Credit will take the form of a Separate Account Policy Credit or an Account Value Policy Credit. If the Policy is owned by a Non-Rule 180 Qualified Plan Customer, the Policy Credit will take the form of an Account Value Policy Credit.
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Related to Policy Credit

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended and restated as of November 12, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Credit Account is modified to read “Grant Account”.

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Credit and Collection Policy means Seller’s credit and collection policies and practices relating to Contracts and Receivables existing on the date hereof and summarized in Exhibit VIII hereto, as modified from time to time in accordance with this Agreement.

  • Reimbursement insurance policy means a policy of insurance

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Policy means Related Party Transaction Policy.

  • Credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Company Credit Agreement means that certain Credit Agreement, dated as of March 8, 2019, among the Company, as borrower, the guarantors from time to time party thereto, the lenders and issuing banks from time to time party thereto and Bank of America, N.A., as administrative agent.

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Policy Date means the date on which the Search Report was prepared.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Credit and Collection Policies or “Credit and Collection Policy” means the policies, practices and procedures adopted by the Issuer on the Closing Date, including the policies and procedures for determining the creditworthiness of Obligors and the extension of credit to Obligors, or relating to the maintenance of those types of receivables and the related equipment and collections on those types of receivables and the related equipment.