Premium Advances definition

Premium Advances means the total amount of premiums paid by the Company hereunder (including any premiums paid on the Policy by the Trustee under a trust established pursuant to Section 6(a) below) and the term "Net Policy Value" shall mean the amount by which the then cash surrender value of the Policy or, in the event the payment obligation arises pursuant to Section 3(a)(i)(x) above, the death benefit payable under the Policy, exceeds the amount of the Premium Advances. In the case of a termination of the Employee's employment described in Section 3(a)(i)(y) or Section 3(a)(i)(z) above, the Employee's Vested Life Insurance Plan Benefit shall be zero (0). In all other cases, the Employee's Vested Life Insurance Plan Benefit shall be the lesser of (x) the Net Policy Value and (y) the amount calculated by multiplying the greater of (i) $1,844,207 and (ii) the Net Policy Value by a percentage based on the Employee's age at termination of employment, Years of Service and other factors as set forth below:
Sample 1
Premium Advances means (a) advances made by the Debtors on or before the Effective Date to pay premiums due on Policies that were not paid by holders of Fractional Positions relating to the Policies, in amounts set forth in the Catch-Up Payments Schedule to be Filed at various times as provided in the definition of Policy Related Assets, and (b) advances made by the Position Holder Trust after the Effective Date to pay premiums due on Policies that are not paid by the Continuing Fractional Holders.
Sample 1Sample 2
Premium Advances means advances made by the Debtors on or before the Plan Effective Date to pay premiums due on Policies that were not paid by holders of Fractional Positions relating to the Policies, in amounts set forth in the Catch-Up Payments Schedule.
Sample 1

Examples of Premium Advances in a sentence

  • The Company acknowledges that the Lender will rely on the truth of each statement in this Advance Request in making the requested Premium Advances.

  • The amount of the Premium Advances requested are not more than the amount permitted by the Agreement to be borrowed pursuant to this Advance Request.

  • After giving effect to such Premium Advance, the aggregate principal balance of all outstanding Premium Advances will be $________.

  • The current forms in use by the Lender are Exhibit C-PRE with respect to Premium Advances, Exhibit C-REO with respect to REO Advances, and Exhibit C-SF with respect to other Warehousing Advances attached hereto and made a part hereof (except, with respect to Ordinary Warehousing Advances, in the case of Warehousing Advance Requests submitted by RFConnects).

  • The Servicer may also retain funds constituting Collections in an amount equal to Intra-Month Draw Advances and Premium Advances funded by the Servicer to the extent the Servicer has not otherwise been reimbursed therefor as contemplated in this Indenture or the Servicing Agreement, and the Servicer shall not be required to deposit such withheld funds in the Collection Account.

  • By way of clarification, the Holder of an Investment Contract relating to a Fractional Position with respect to which a Pre-Petition Default Amount is due and owing shall not be an IRA Holder with respect to the Fractional Position unless all Premium Advances included in the Pre-Petition Default Amount are paid by thirty (30) days after the date the Confirmation Order is entered.

  • After giving effect to such Premium Advance, the aggregate principal balance of all outstanding Premium Advances will be $___________.

  • The policies for which Premium Advances will be made will be selected by the General Agent.

  • Such Premium Advances shall be made on behalf of insureds insured under such policies.

  • It is anticipated that the aggregate net Premium Advances to be made on the November Due Date shall be approximately twenty-nine million dollars ($29,000,000.00), the net Premium Advances to be made on the December Due Date shall be approximately fifteen million dollars ($15,000,000.00) and the net Premium Advances to be made on the February Due Date shall be approximately five hundred thousand dollars ($500,000.00).

Related to Premium Advances

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Equipment Advance is defined in Section 2.1.1.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Payment Date Advance Reimbursement has the meaning set forth in Section 8.03(a)(iii)(A) of the 20[•]-[•] Servicing Supplement.

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee, and (iii) any late charges incurred hereunder.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Loan repayment means the cancellation and repayment of loans

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Revolving Advance has the meaning given in Section 2.1.