COVERAGE A PREMIUM Sample Clauses

COVERAGE A PREMIUM. A. Deposit Premium: As respects each contract year, the COMPANY shall pay the REINSURERS an annual Deposit Premium equal to the greater of 50% of GROSS EXCESS LIMITS PREMIUM or $3,500,000 in four equal installments of $875,000 on March 31, June 30, September 30 and December 31 of each contract year. B. Minimum Premium: As respects each contract year, the COMPANY shall pay REINSURERS Actual Premium as per D. below, but not less than the Minimum Premium which is equal to 21% of GROSS EXCESS LIMITS PREMIUM in respect of policies with limits attaching in respect of COVERAGE A or $1,500,000, whichever is greater.