Rate Guarantee definition

Rate Guarantee. The reinsurance rates set out in this Exhibit are guaranteed for the first policy year. In subsequent policy years, the Reinsurer reserves the right to increase the premiums for reinsurance but not above the greater of the guaranteed cost of insurance charged to the policyholder or the statutory net valuation premium applicable to the Reinsured Policies after increase. If the Reinsurer exercises its right to increase reinsurance premiums under this Agreement in an amount greater than that required to ensure that the Reinsurer will participate in its share of any increases in premium rates, costs, charges or fees as implemented by the Company for the Reinsured Policies, the Company may recapture all of the Reinsured Policies on which reinsurance rates have been increased regardless of the Reinsured Policies’ duration in force. If the Company elects to recapture reinsurance under this provision, unearned premiums, net of outstanding balances, will be paid by the party with the positive balance.
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Rate Guarantee. The reinsurance rates set out in the sub–section(s) of Exhibit C of this Agreement cannot be guaranteed for more than one year. The reinsurance rates, however, may not be increased beyond the appropriate one year term premiums calculated on
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Rate Guarantee. The YRT reinsurance rates set out in this sub-section are guaranteed to the extent that in the 2nd year and later the Reinsurer reserves the right to increase the premiums for reinsurance but not above the statutory net premium. If the Reinsurer exercises this right and the Company has not increased its rates to the policy owner, the Company may recapture the Reinsured Policies on which the rates have been increased regardless of the Reinsured Policies' duration in force. Such a recapture would be subject to a recapture fee mutually agreed upon by the Company and the Reinsurer.
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Examples of Rate Guarantee in a sentence

  • Participating Addenda shall not be construed to amend the following provisions in this Master Agreement between the Lead State and Contractor that prescribe NASPO ValuePoint requirements: Term of the Master Agreement; Amendments; Participants and Scope; Administrative Fee; NASPO ValuePoint Summary and Detailed Usage Reports; NASPO ValuePoint Cooperative Program Marketing and Performance Review; Right to Publish; Price and Rate Guarantee Period; and Individual Customers.

  • If, before or during the LNG Production Rate Performance Test, any deviation from the LNG Production Rate Guarantee Conditions occurs which is not caused by Contractor or its Subcontractors, then the Owner and Contractor shall meet to agree on (a) the technical viability of conducting the LNG Production Rate Performance Test and (b) any adjustments to the Performance Guarantee set forth in this Attachment S and Attachment T.

  • Owner and Contractor shall confirm that the LNG Production Rate Guarantee Conditions: (i) have been satisfied prior to commencement of the LNG Production Rate Performance Test and (ii) continue to be satisfied during the conduct of the LNG Production Rate Performance Test.

  • The LNG Production Rate Performance Test shall be conducted in accordance with the LNG Production Rate Guarantee Conditions specified in Section 2.4 and the Performance Test Procedures specified in Section 2.5 of this Attachment S.

  • Price and Rate Guarantee Period: All quoted prices and rates must be guaranteed for and must remain firm for minimally one year of the initial contract period.

  • A Participating Addendum shall not be construed to amend the terms of this Master Agreement between the Lead State and Contractor that prescribe NASPO ValuePoint Program requirements: Term of the Master Agreement; Amendments; Participants and Scope; Administrative Fee; NASPO ValuePoint Summary and Detailed Usage Reports; NASPO ValuePoint Cooperative Program Marketing and Performance Review; NASPO ValuePoint eMarketCenter; Right to Publish; Price and Rate Guarantee Period; and Individual Customers.

  • Participating Addenda shall not be construed to amend the following provisions in this Master Agreement between the Lead State and Contractor that prescribe NASPO ValuePoint Program requirements: Term of the Master Agreement; Amendments; Participants and Scope; Administrative Fee; NASPO ValuePoint Summary and Detailed Usage Reports; NASPO ValuePoint Cooperative Program Marketing and Performance Review; Right to Publish; Price and Rate Guarantee Period; and Individual Customers.

  • If your current contract allocation instructions include a 100% allocation to a strategy with a Rate Guarantee Period longer than its Crediting Period, additional Purchase Payments must be accompanied by an allocation instruction.

  • We will not permit you to transfer amounts from the strategy into any other interest crediting strategy – or into the strategy from another – during the Rate Guarantee Period.

  • The Unit 6 Net Output and Heat Rate Guarantee shall include all auxiliary loads, including pumps, fans, motors, heaters, air conditioning, lighting, material handling and miscellaneous equipment that are required to operate the equipment in a normal plant configuration.


More Definitions of Rate Guarantee

Rate Guarantee means we will use the same rate we used to calculate the income payment amount in this quote, but other factors may change the actual income payment amount.
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Rate Guarantee. The reinsurance rates set out in the sub-section(s) of Exhibit C of this Agreement cannot be guaranteed for more than one year. The reinsurance rates, however, may not be increased beyond the appropriate one year term premiums calculated on the 1980 C.S.O. smoker/non-smoker mortality table at 4.5% interest. The Reinsurer reserves the right to increase the reinsurance rates if the Company has increased its rates.
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Rate Guarantee. The reinsurance rates set out in the sub-section(s) of Exhibit C of this Agreement cannot be guaranteed for more than one year. The reinsurance rates, however, may not be increased beyond the appropriate one year term premiums calculated on the 1980 C.S.O. smoke/non-smoker mortality table at 4.5% interest. The Reinsurer reserves the right to increase the reinsurance rates if the Company has increased its rates. If the Reinsurer increases the rates in adbsence of a corresponding increase by the Company in its retail charges to the policyholder, the Company reserves the right to recapture ceded business inforce under this Agreement with appropriate notice and no recapture fee would apply.
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Related to Rate Guarantee

  • Corporate Guarantee means a guarantee of the obligations of the Borrowers under this Agreement and the other Finance Documents to which each Borrower is a party, in the Agreed Form;

  • Corporate Guaranty means a legal document used by an entity to guaranty the obligations of another entity.

  • guarantee contract means a contract entered into by a person as guarantor;

  • Bid guarantee means the bid bond, cashier's check or certified check submitted as part of the bid proposal, payable to the contracting unit, ensuring that the successful bidder will enter into a contract.

  • Swap Guarantee If so specified in the Supplement with respect to any Series, the guarantee issued by the Swap Guarantor in favor of the Trust substantially in the form attached as an exhibit to the Swap Agreement.