Cash Surrender Values Clause Samples

The Cash Surrender Values clause defines the amount a policyholder is entitled to receive if they choose to terminate a life insurance policy before its maturity or the insured event occurs. Typically, this value is calculated based on the premiums paid, minus any applicable fees or outstanding loans, and may increase over time as more premiums are paid. The core function of this clause is to provide a clear, predetermined payout option for policyholders who no longer wish to maintain their coverage, ensuring transparency and financial flexibility.
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Cash Surrender Values. The Reinsurer will not reimburse the Company for cash surrender values paid to the policyholder.
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Cash Surrender Values. The Reinsurer will reimburse the Ceding Company for that portion of the Cash Surrender Values paid by the Ceding Company during the current Accounting Period in accordance with the terms of the Annuities which corresponds to the portion of the Annuities reinsured hereunder.
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Cash Surrender Values. The term “Cash Surrender Values,” as used in this Agreement, shall mean amounts paid by the Ceding Company upon termination of the Annuities in accordance with the terms of the Annuities. The Reinsurer shall reimburse the Ceding Company for the Quota Share Percentage of the Cash Surrender Values paid by the Ceding Company during the current Accounting Period in accordance with the terms of the Annuities.
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Cash Surrender Values. The Reinsurer has no obligation to reimburse the Company for any cash values paid by the Company upon surrender of the policies.
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Cash Surrender Values. The CORPORATION shall reimburse the REINSURED for the cash values paid by the REINSURED upon surrender of the policies.
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Cash Surrender Values. Not applicable for reinsurance.
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Cash Surrender Values. The Reinsurer will reimburse the Ceding Company for that portion of the partial and full Cash Surrender Values paid by the Ceding Company in accordance with the terms of the annuities reinsured hereunder which corresponds to the portion of the annuities reinsured hereunder.
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Related to Cash Surrender Values

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $8,155,000., subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Cash Payments in Lieu of Fractional Shares No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon conversion of Notes. If more than one Note shall be surrendered for conversion at one time by the same holder, the number of full shares that shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Note or Notes, the Company shall make an adjustment and payment therefor in cash at the current market price thereof to the holder of Notes. The current market price of a share of Common Stock shall be the Closing Price on the last Business Day immediately preceding the day on which the Notes (or specified portions thereof) are deemed to have been converted.

  • Non-Cash Consideration In the case of the offering of securities for a consideration in whole or in part other than cash, including securities acquired in exchange therefor (other than securities by their terms so exchangeable), the consideration other than cash shall be deemed to be the fair value thereof as determined by the Board of Directors; provided, however, that such fair value as determined by the Board of Directors shall not exceed the aggregate market price of the securities being offered as of the date the Board of Directors authorizes the offering of such securities.

  • Certification of Adjusted Exercise Price or Number of Shares of Common Stock Whenever the Exercise Price or the number of shares of Common Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

  • Certificate of Adjusted Exercise Price or Number of Shares Whenever an adjustment is made as provided in Sections 11 and 13 hereof, the Company shall promptly (a) prepare a certificate setting forth such adjustment and a brief statement of the facts accounting for such adjustment, (b) file with the Rights Agent and with each transfer agent for the Preferred Shares a copy of such certificate and (c) mail a brief summary thereof to each holder of a Rights Certificate in accordance with Section 26 hereof. Notwithstanding the foregoing sentence, the failure of the Company to make such certification or give such notice shall not affect the validity of such adjustment or the force or effect of the requirement for such adjustment. The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment contained therein and shall not be deemed to have knowledge of such adjustment unless and until it shall have received such certificate.