Face Amount Increase Clause Samples

Face Amount Increase. You may submit an application to increase the Face Amount. The Insured must be no older than Age 90 and the Face Amount increase may not be less than $25,000. Your application must include Evidence of Insurability satisfactory to us and is subject to our approval. The effective date of the increased Face Amount will be the first Monthly Payment Date on or next following the date all required conditions are met or any other date you request and we approve. We reserve the right to limit Face Amount increases to one per policy year and the right to charge a fee to evaluate insurability, not to exceed $100 for each evaluation. P09SE5 Upon approval of any such increase, we will send you a Supplemental Schedule of Coverage, which will include the following information: • The increased Face Amount and the effective date of the increase • The Risk Class for the increase • The Maximum Monthly Cost of Insurance Rates applicable to the increase • The Maximum Monthly Coverage Charge for the increase • If the Guideline Premium Test is used, the new Guideline Premiums In addition, any Coverage Layer representing an increase in Basic Coverage will have an associated Surrender Charge. The elements used in calculating the Surrender Charge for such Coverage Layer are the Initial Amount, Level Period, Reduction Factor, and End Year for the Coverage Layer and will be shown in a Supplemental Schedule of Coverage sent to you at the time of the increase. The Level Period and End Year for the Coverage Layer are measured from the effective date of the Coverage Layer. During the Level Period of such Coverage Layer, the Surrender Charge is equal to the Initial Amount for the Coverage Layer. After the Level Period, the Surrender Charge for the Coverage Layer decreases on each Monthly Payment Date by one-twelfth of the Reduction Factor for the Coverage Layer until it becomes zero after the End Year for the Coverage Layer.
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Face Amount Increase. An increase in Face Amount will be allowed only if it results in a death benefit increase no less than our minimum limit in effect on the date of the request. An increase in Face Amount will not be allowed after the Insured attains Age 100. Also, an increase will not be allowed if there has been a prior decrease in Face Amount, including any decrease which occurred as a result of a Withdrawal.
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Face Amount Increase. You may submit an application to increase the Face Amount by an amount not less than $25,000. The Insured must be Age 90 or less and the application must include evidence of insurability satisfactory to us. The effective date of the increased Face Amount will be the first Monthly Payment Date on or following the date all required conditions are met. We reserve the right to limit increases to one per policy year and to charge a fee to evaluate insurability, not to exceed $100, which will be deducted proportionately from the Accumulated Value in the Investment Options. Upon approval of any unscheduled increase, we will send you a Supplemental Schedule of Coverage, which will include the following information: · the increased Face Amount and the effective date of the increase; · the risk class for the increase; · the Guaranteed Maximum Monthly Cost of Insurance Rates applicable to the increase; · the Mortality and Risk Charges for the increase; · the Maximum Surrender Charge and the Surrender Charge Factor for the increase; and · if the Guideline Premium Test is used, the new Guideline Premiums.
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Face Amount Increase. You may request an increase in the face amount. The minimum face amount increase we will consider is $[25,000]. You must submit a completed application and proof of insurability. The Effective Date of the face amount increase is subject to deduction of the first month's charges and Cost of Insurance related to the increase from the existing Policy Value.
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Face Amount Increase. An unscheduled increase in Face Amount is subject to evidence of insurability and will be effective on the first Monthly Payment Date on or following the date all applicable conditions are met. A supplemental schedule of benefits and premiums will be issued. This schedule will include: · the risk class; · the effective date; · the M&E Risk Charges; · the Surrender Charges; · the guaranteed Cost of Insurance Rates; · the amount of the increase and the total Face Amount after the increase; and · if the Guideline Premium Test is used, the new Guideline Premiums. For any increase in Face Amount which arises from conversion of a term rider, we will waive the Surrender Charges and M&E Risk Face Amount Charges that would otherwise apply for the increase.
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Related to Face Amount Increase

  • Commitment Increase The Borrower may, by giving at least 15 Business Days’ notice to the Administrative Agent, propose that the Aggregate Facility Amount be increased (each such proposed increase being a “Commitment Increase”), through an increase of the Commitment of one or more existing Lenders (each an “Increasing Lender”) and/or the addition of one or more Persons (who must be Eligible Assignees) as assuming Lenders (each an “Assuming Lender”), as the Borrower may determine, all effective as of a date (the “Commitment Increase Date”) that shall be specified in such notice and that shall be prior to the Commitment Termination Date; provided the following limitations shall apply: (A) the Borrower may not propose more than two Commitment Increases during any calendar quarter, (B) the proposed Commitment Increase in respect of the Commitment of any Increasing Lender or any Assuming Lender shall for each Commitment Increase Date be no less than $100,000,000, (C) the Aggregate Facility Amount may not in any event at any time exceed $2,000,000,000, (D) no Default or Event of Default shall have occurred and be continuing on the relevant Commitment Increase Date or shall result from the proposed Commitment Increase, and (E) the representations and warranties in Article V shall be true in all material respects on and as of the Commitment Increase Date as if made on and as of such date. The Administrative Agent shall notify the Lenders of a proposed Commitment Increase promptly upon its receipt of notice from the Borrower with respect thereto. Each Lender will consider in good faith any such proposed Commitment Increase, provided that it shall be in each Lender’s sole discretion whether to agree to increase its Commitment hereunder in connection therewith. No later than 10 Business Days after its receipt of the Borrower’s notice proposing a Commitment Increase, each Lender that is willing to increase its Commitment hereunder shall deliver to the Administrative Agent a notice in which such Lender shall set forth the maximum increase in its Commitment to which such Lender is willing to agree (any Lender not responding by such time to be deemed not to have agreed to such increase in its Commitment), and the Administrative Agent shall promptly provide to the Borrower a copy of such Increasing Lender’s notice. The Administrative Agent shall cooperate with the Borrower in discussions with the Lenders and Eligible Assignees with a view to arranging any proposed Commitment Increase through the increase of the Commitments of one or more of the Lenders and/or the addition of one or more Eligible Assignees as Assuming Lenders and the Administrative Agent shall use its reasonable efforts to secure any such proposed Commitment Increase (provided that any such addition of an Eligible Assignee as an Assuming Lender shall be subject to the consent of the Administrative Agent and the Issuing Lender, which consent shall not be unreasonably withheld or delayed); provided, that any allocations of any increase of Commitments hereunder (including any allocation as between Increasing Lenders and Assuming Lenders) shall be determined by the Borrower in its sole discretion.

  • RENT INCREASE 6.1 The Landlord is entitled to increase the Rent payable under this tenancy, either during the Tenancy Term or any subsequent renewal or periodic term, on each anniversary of the start date of this tenancy (“The Rent Increase Date”). The increase will be a minimum 5% in addition to the current Rent payable. Should the Landlord elect to do so they will first serve written notice on the Tenant in accordance with these Tenancy Terms and Conditions of at least one calendar month prior to the Rent Increase Date (“the Rent Increase Notice”). 6.2 If the Landlord chooses not to increase the Rent on the Rent Increase Date they may defer doing so to any date thereafter provided they shall at any time thereafter be entitled to serve a Rent Increase Notice and the said rent increase shall take effect on the expiry of such notice – the Landlord will not be entitled to then increase the rent in this way for another 12 months.

  • Commitment Increases (a) In the event that the Company wishes to increase the aggregate Commitments, it shall notify the Lenders (through the Managing Administrative Agent) of the amount of such proposed increase (such notice, a “Commitment Increase Offer”). Each Commitment Increase Offer shall offer the Lenders the opportunity to participate in the increased Commitments ratably in accordance with their respective Commitment Percentages. In the event that any Lender (each, a “Declining Lender”) shall fail to accept in writing a Commitment Increase Offer within 10 Business Days after receiving notice thereof, all or any portion of the proposed increase in the Commitments offered to the Declining Lenders (the aggregate of such offered amounts, the “Declined Amount”) may instead be allocated to any one or more additional banks, financial institutions or other entities pursuant to paragraph (b) below and/or to any one or more existing Lenders pursuant to paragraph (c)(ii) below. (b) Any additional bank, financial institution or other entity (each, a “New Lender”) which, with the consent of the Company and the Managing Administrative Agent, elects to become a party to this Agreement and obtain a Commitment in an amount equal to all or any portion of a Declined Amount, shall execute a New Lender Supplement (each, a “New Lender Supplement”) with the Company and the Managing Administrative Agent, substantially in the form of Exhibit J-1, whereupon such New Lender shall become a Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement, and Schedule 1.2 shall be deemed to be amended to add the name and Commitment of such New Lender. (c) Any Lender which (i) accepts a Commitment Increase Offer pursuant to subsection 2.18(a) or (ii) with the consent of the Company elects to increase its Commitment by an amount equal to all or any portion of a Declined Amount shall, in each case, execute a Commitment Increase Supplement (each, a “Commitment Increase Supplement”) with the Company and the Managing Administrative Agent, substantially in the form of Exhibit J-2, whereupon such Lender shall be bound by and entitled to the benefits of this Agreement with respect to the full amount of its Commitment as so increased, and Schedule 1.2 shall be deemed to be amended to so increase the Commitment of such Lender. (d) If on the date upon which a bank, financial institution or other entity becomes a New Lender pursuant to subsection 2.18(b) or upon which a Lender’s Commitment is increased pursuant to subsection 2.18

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will: (1) agree on the amount of the increase; (2) agree on any terms and conditions that will apply to the increase; and (3) execute an amendment to this Agreement that reflects the agreement reached.

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.