Common use of Extraordinary Premium Decrease Clause in Contracts

Extraordinary Premium Decrease. (a) The Contractor must inform the Contracting Authority of any Extraordinary Premium Decrease that occurs during the Availability Period in regard to an insurance agreement referred to in Schedule 9 (Insurance). The Contractor is liable to the Contracting Authority for compensation as from the date of the Extraordinary Premium Decrease. This compensation is equal to 85% of the difference between the premium that the Contractor paid immediately prior to the Extraordinary Premium Decrease and the premium that the Contractor paid after the Extraordinary Premium Decrease occurred. (b) If the Contractor demonstrates that an Extraordinary Premium Decrease no longer exists, the Contractor is no longer obliged to pay the Contracting Authority the compensation referred to in Paragraph (a). (c) The provisions of this Article 14.4 apply by analogy to insurance agreements not referred to in Schedule 9 (Insurance) but which have been arranged by the Contractor under Article 13.4 to replace the insurance agreements referred to in Schedule 9 (Insurance).

Extraordinary Premium Decrease. (a) The Contractor must inform the Contracting Authority of any Extraordinary Premium Decrease that occurs during the Availability Period in regard to an insurance agreement referred to in Schedule 9 12 (Insurance). The Contractor is liable to the Contracting Authority for compensation as from the date of the Extraordinary Premium Decrease. This compensation is equal to 85% of the difference between the premium that the Contractor paid immediately prior to the Extraordinary Premium Decrease and the premium that the Contractor paid after the Extraordinary Premium Decrease occurred. (b) If the Contractor demonstrates that an Extraordinary Premium Decrease no longer exists, the Contractor is no longer obliged to pay the Contracting Authority the compensation referred to outlined in Paragraph (aParagraph(a). (c) The provisions of this Article 14.4 apply by analogy to insurance agreements not referred to in Schedule 9 12 (Insurance) but which have been arranged concluded by the Contractor under Article 13.4 to replace the insurance agreements referred to in Schedule 9 12 (Insurance).