Resolicitation definition
Resolicitation means resolicitation activity in the marketing of a Payment Protection Product by mail or phone to uninsured GECC finance customers who have not opted to purchase the GEFA Payment Protection Product at the point of sale of the finance agreement. Is New Business If GECC intends to replace the Existing Business provided at initial point of sale of the finance agreement with a Resolicitation Payment Protection Product it will be Substitute Business and GECC will advise GEFA of its intent. If GECC stops actively promoting the Existing Business provided at the initial point of sale of the finance agreement by means of training or account management or incentives or other method which adversely impacts on the Existing Business performance, measured by insurance penetration of the Existing Business, then any Resolicitation Scheme will be restructured as Substitute Business with the appropriate Retention Rate and Profit Share terms applied. A joint borrower cover Payment. Protection Product where GEFA currently only offers a single cover Payment Protection Product. Is Substitute Business for the first named principal borrower. Is New Business for the second named borrower. As GEFA cannot split terms within one Payment Protection Product, aggregate terms will be provided combining the proportion of the Risk Rate allocated to the first named principal borrower and the second named borrower. New GECC business partnership. This shall include new partnerships with retailers, dealers or broker groups. Is New Business It is not intended to include individual additions of a retailer, dealer or broker which will be provided with terms as Substitute Business, unless a separate Scheme is required. A Payment Protection Product offered to an age range excluded from Existing Business or other Payment Protection Product targeting another specific group of customers not currently provided under Existing Business. Is New Business Committed Payments Products designed to protect in whole or in part GECC finance commitments if they are in replacement of Existing Business. Is Substitute Business Committed Payments Products not designed to protect GECC finance commitments. Is New Business A Payment Protection Product provided for a new and distinct GECC finance activity including any new and distinct loan product, which does not replace an existing loan product, offered by GECC. Is New Business Any Payment Protection Product provided to a new or distinct loan product, which replaces an...
Resolicitation means resolicitation activity in the marketing of a Payment Protection Product by mail or phone to uninsured GECC finance customers who have not opted to purchase the GEFA Payment Protection Product at the point of sale of the finance agreement. Is New Business If GECC intends to replace the Existing Business provided at initial point of sale of the finance agreement with a Resolicitation Payment Protection Product it will be Substitute Business and GECC will advise GEFA of its intent. If GECC stops actively promoting the Existing Business provided at the initial point of sale of the finance agreement by means of training or account management or incentives or other method which adversely impacts on the Existing Business performance, measured by insurance penetration of the Existing Business, then any Resolicitation Scheme will be restructured as Substitute Business with the appropriate Retention Rate and Profit Share terms applied.
Examples of Resolicitation in a sentence
Such process shall be similar to the Market Resolicitation process prescribed by Attachment 1 to Exhibit 13B of the Agreement; provided, however, the terms set forth below shall govern.
Re-solicitation could delay or jeopardize Confirmation of the Plan and result in termination of the Restructuring Support Agreement.