Face Amount Clause Samples
The Face Amount clause defines the principal sum or stated value of a financial instrument, such as a life insurance policy or a bond, that will be paid out upon maturity or a triggering event. In practice, this amount is specified in the contract and serves as the basis for calculating premiums, benefits, or payouts; for example, a life insurance policy with a $100,000 face amount will pay that sum to beneficiaries upon the insured's death. The core function of this clause is to clearly establish the monetary value at stake, ensuring all parties understand the maximum payout obligation and reducing ambiguity in the event of a claim or maturity.
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Face Amount the amount that Manulife has accepted to pay based on Policy’s provisions, as stated in Schedule Page or Endorsement (if any). The Face Amount which is used to pay insurance benefit is defined at the time of insurance event, unless otherwised agreed in Policy.
Face Amount. Agent's commission, if any, determined as provided in the Distribution Agreement.
Face Amount. Unless otherwise specified herein, the Face Amount of a Letter of Credit or FCI at any time shall be deemed to be the stated amount of such Letter of Credit or FCI in effect at such time; provided, however, that with respect to any Letter of Credit or FCI that, by its terms or the terms of any form of letter of credit application or other agreement submitted by a Borrower to, or entered into by a Borrower with, the applicable Issuing Lender or FCI Issuing Lender, as applicable, relating to such Letter of Credit or FCI, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit or FCI shall be deemed to be the maximum stated amount of such Letter of Credit or FCI after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.
Face Amount. Unless otherwise specified herein, the Face Amount of a Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument at any time shall be deemed to be the stated amount of such Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument in effect at such time; provided, however, that with respect to any Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument that, by its terms or the terms of any form of letter of credit application or other agreement submitted by a Borrower to, or entered into by a Borrower with, the applicable Issuing Lender or Foreign Issuing Lender, as applicable, relating to such Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument shall be deemed to be the maximum stated amount of such Letter of Credit, Foreign Credit Instrument or Joint Signature Foreign Credit Instrument after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.
Face Amount. Face Amount means: (a) for a Billed Receivable, the unpaid balance thereof duly owed to CRES Provider by a Customer (excluding any portion of the unpaid balance relating to charges which are not Outstanding Accepted Receivables or which are Excluded Receivables); and (b) for a Budget Account Receivable, the contractual amount due and owing for the sale and delivery by CRES Provider to Customer of Competitive Retail Electric Services in the ordinary course of business; in any such case determined on the Purchase Date on which such Outstanding Accepted Receivable is purchased by Company hereunder (excluding any amount due relating to charges which are not Outstanding Accepted Receivables or which are Excluded Receivables).
Face Amount. The term "Face Amount" means the cash price for the goods sold and/or services rendered to a Customer, less any down payment paid by a Customer, plus any taxes imposed on such sales transaction.
Face Amount. The amount of insurance You have specified and from which the Death Benefit will be determined. The Initial Face Amount is shown in the POLICY INFORMATION section.
Face Amount. The amount of life insurance provided by this contract exclusive of any riders. The Face Amount on the Date of Issue is the Initial Face Amount shown on page 3. Increases or decreases in Face Amount will be shown on supplemental contract schedules that we will mail to you. General Account. The General Account includes all assets we own that are not in the Variable Account or any other separate account of the Society. The Loan Account, reserves for the Fixed Account and reserves for the Death Benefit Guarantees are maintained in the General Account.
Face Amount. For any RAL Note, the aggregate amount the related Obligor promises to pay under such RAL Note.
Face Amount is the sum of Face Amounts of each Coverage Segment and is used in determining the death benefit under this policy. The Face Amount as of the Policy Date is shown in the Policy Specifications. The Face Amount may be changed, as provided for in the Death Benefit section.