Reduction and Terminations Sample Clauses
The 'Reduction and Terminations' clause defines the conditions and procedures under which a contract or agreement may be reduced in scope or terminated entirely. Typically, this clause outlines the rights of either party to decrease the volume of goods or services provided, or to end the agreement before its natural expiration, often by providing written notice and possibly meeting certain criteria such as payment of fees or fulfillment of obligations up to the termination date. Its core practical function is to provide flexibility and risk management for both parties, ensuring that they are not locked into unfavorable or unnecessary commitments if circumstances change.
Reduction and Terminations. If any of the policies reinsured under this Agreement are reduced or terminated by payment of a death benefit, withdrawal or surrender, the reinsurance will be reduced proportionately.
Reduction and Terminations. If any HD7 rider is terminated or any of the underlying contracts associated with the HD7 riders reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any Contract is terminated, or an individual’s benefits under the underlying group contract associated with the Contracts reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that Contract will be terminated (subject to any party’s right to payment under this Agreement with respect to such terminated Contract).
Reduction and Terminations. If any HD GRO benefit rider is terminated or any of the underlying insurance contracts associated with the HD GRO benefit rider reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any LT5WB rider is terminated or any of the underlying contracts associated with the LT5WB riders reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any SLT5 rider is terminated or any of the underlying contracts associated with the SLT5 riders reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any HDI 2.0 rider is terminated or any of the underlying contracts associated with the HDI 2.0 riders reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any of the certificates reinsured under this Agreement are reduced or terminated by payment of a death benefit, withdrawal or surrender, the reinsurance will be reduced proportionately.
Reduction and Terminations. If any HDLT5 rider is terminated or any of the underlying contracts associated with the HDLT5 riders reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.
Reduction and Terminations. If any of the underlying insurance contracts reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance will be reduced proportionately.