Common use of Failure to Make Premium Payment Clause in Contracts

Failure to Make Premium Payment. If the Subscribing Group fails to make payment of the monthly Premium by the Premium due-date and within the Grace Period, as provided in Section 6.1, coverage hereunder shall terminate for all Members for whom Premium payment has not been received, on the last day for which the monthly Premium was received. Coverage will remain in effect during the Grace Period; however, if Premium payments are not received by the end of the Grace Period, late payment fees may apply and AvMed may retroactively terminate the Subscribing Group’s coverage as described below.

Failure to Make Premium Payment. If the Subscribing Group fails to make payment of the monthly Premium by the Premium due-due date and within the Grace Period, as provided in Section 6.1, coverage hereunder shall terminate for all Members for whom Premium payment has not been received, on the last day for which the monthly Premium was received. Coverage will remain in effect during the Grace Period; however, if Premium payments are not received by the end of the Grace Period, late payment fees may apply and AvMed may retroactively terminate the Subscribing Group’s coverage as described below.