Current Practices Clause Samples

Current Practices. The Ceding Company will not change or alter its underwriting, claims paying or administrative practices with respect to the Annuities in a manner that a reasonable person would expect could harm its relationship with policyholders or agents or increase the lapses or withdrawals of the Annuities without the prior written consent of the Reinsurer. For the purpose of this paragraph, claims paying and administrative practices do not include the setting or resetting of crediting rates, bonuses or commission rates.

Current Practices. The Ceding Company will not materially change or alter its annuity contract issuance criteria or practices, annuity contract administration or other administrative practices in effect on the Effective Date with respect to the Riders without the prior written consent of the Reinsurer. For purposes of this Paragraph 17, a material change or alteration is a change or alteration which would reasonably be expected to affect the liability or profitability of the Reinsurer under this Agreement (“Material Change”). If the Reinsurer does not consent to a Material Change, the Reinsurer’s rights, remedies and obligations hereunder shall be determined as if no such change occurred. Such consent shall not be unreasonably withheld.

Current Practices. The Ceding Company shall not change, alter or otherwise compromise, and shall not allow any subcontractor to change, alter or otherwise compromise, its claims paying or other material administrative practices with respect to the Reinsured Contracts without the prior written consent of the Reinsurer, which consent shall not be unreasonably withheld, conditioned, or delayed; provided, however, that no such consent of the Reinsurer is required for any change or alteration in its claims paying or other material administrative practices if such change or alteration is also being made with respect to variable annuity contracts of the Ceding Company that are not reinsured hereunder or wholly reinsured to a third party under any other agreement. At the reasonable request of the Reinsurer, the Ceding Company shall provide to the Reinsurer information relating to any changes, alterations or compromises that do not require the Reinsurer’s consent under this Section 4.02.

Current Practices. It is understood that existing ordinances, resolutions and City Council and Administrative Policies of the CITY, past ASSOCIATION MOU, Personnel Rules, and Fire Department Rules and Regulations in effect, cover matters pertaining to employer-employee relations including, but not limited to, wages, salaries, benefits, hours and other terms and conditions of employment. Therefore, it is agreed that all such ordinances, resolutions, City Council and Administrative policies, past ASSOCIATION MOU, Personnel Rules, and Fire Department Rules and Regulations, including the Employer-Employee Relations Resolution are hereby incorporated herein by this reference and made part hereof as though set forth in full, and except as provided herein, shall remain in full force and effect during the term thereof.

Current Practices. Current practices are supported by MSA Grant Funds and consist of the provision of interventions developed by the American Lung Association, Freedom from Smoking Program currently administered by a community nonprofit agency. Services are currently provided at various locations through-out the County. The County is seeking increased impact and achievement of outcomes in future MSA-funded programs.

Current Practices. It is understood that existing ordinances, resolutions, City Council and administrative policies of the CITY, past ECPOA MOUs, Personnel Rules, and Police Department Rules and Regulations cover matters pertaining to employer-employee relations including, not limited to, wages, salaries, benefits, hours and other terms and conditions of employment, are hereby incorporated herein by this reference and made a part hereof as though set forth in full and, except as provided herein, shall remain in full force and effect during the term thereof.

Current Practices. It is understood that existing ordinances, resolutions, City Council and administrative policies of the CITY, Personnel Rules, and Police Department Rules and Regulations covering matters pertaining to employer-employee relations including, but not limited to, wages, salaries, benefits, hours and other terms and conditions of employment, are hereby incorporated herein by this reference and made a part hereof as though set forth in full and, except as provided herein, shall remain in full force and effect during the term thereof, except to the extent the parties agreed to modify them during the negotiations resulting in this MOU.

Current Practices. The Ceding Company will not materially change, alter or otherwise compromise its claims paying or administrative practices with respect to the Annuities without prior written consent of the Reinsurer. For purposes of this Paragraph, a material change or alteration is deemed to occur when such change or alteration could affect the liability of the Reinsurer under this Agreement.

Current Practices. 41. Since the events at issue, the Respondent has made significant changes to its policies concerning the sale of DSC mutual funds. In particular: i. From October 2015 to October 1, 2016, the Respondent’s compliance department implemented enhanced monitoring and review of DSC purchases for clients aged 70 years and older. During this period, recommendations for DSC purchases for such clients required review and approval by the branch manager, with a secondary review and approval by a compliance specialist at the Respondent’s head office. The Respondent also updated its policies and procedures to indicate that DSC products are rarely suitable for clients age 70 and over due to the nature of the fee structure. ii. In 2016, the Respondent’s compliance department enhanced its monitoring of DSC purchases for senior clients by verifying that clients had financial flexibility (i.e., ability to meet expected and unexpected cash flow needs) to purchase DSC funds and that no load funds were considered prior to the purchase. There was a requirement to present both no-load and DSC purchase options to clients with the pros and cons of each option explained. iii. Effective July 1, 2016, the Respondent announced that DSCs would be waived upon the death of an account holder (or upon the death of the last surviving owner for jointly held accounts) on units purchased after June 30, 2016. Any estate settlement transfers in kind from an account with the Respondent to a beneficiary’s account(s) with the Respondent will have DSCs waived on units purchased after June 30, 2016. iv. Effective October 1, 2016, the Respondent stopped accepting DSC purchases for clients age 65 and older. v. Effective January 1, 2017, the Respondent discontinued purchases of its proprietary mutual funds that would trigger DSCs on redemption for all clients. 42. To improve trade oversight, commencing August 2018, the Respondent began to transition to branch managers that are fully dedicated to supervisory duties, who will not service or solicit client business nor will they be compensated based on the business conducted within the branch. This transition was completed by January 31, 2019. 43. In addition to changes to its policies concerning the sale of DSC mutual funds, the Respondent has introduced a number of other significant initiatives as part of its client-focused approach. For example: i. In 2015, the Respondent created the Investors Group Senior and Vulnerable Client Working Group, with a mand...