Common use of Federal Excise Tax Clause in Contracts

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 10 contracts

Sources: Excess Catastrophe Reinsurance Contract (Safety Insurance Group Inc), Reinsurance Contract (James River Group, INC), Excess Workers' Compensation Reinsurance Contract (Amcomp Inc /Fl)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 9 contracts

Sources: Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp), Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp), Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. The Reinsurer has agreed to will allow for the purpose of paying the federal excise tax (“Federal Excise Tax Tax”) the applicable percentage of the premium Premiums payable hereon (as imposed under Section 4371 of the Internal Revenue Code) hereunder to the extent such premium is Premiums are subject to the Federal Excise TaxTax and will, in all cases, indemnify the Ceding Company for any Federal Excise Tax liability with respect to the Premiums payable hereunder. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 7 contracts

Sources: Combination Coinsurance and Modified Coinsurance Agreement (SAFG Retirement Services, Inc.), Combination Coinsurance and Modified Coinsurance Agreement (SAFG Retirement Services, Inc.), Modified Coinsurance Agreement (SAFG Retirement Services, Inc.)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.. (LOGO)

Appears in 2 contracts

Sources: Reinsurance Contract (Philadelphia Consolidated Holding Corp), Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. The Reinsurer has agreed to allow allow, for the purpose of paying the Federal Excise Tax the applicable percentage 1% of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. . In the event of any return of premium becoming due hereunder hereunder, the Reinsurer will shall deduct the applicable percentage 1% from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 2 contracts

Sources: Quota Share Treaty (Amerinst Insurance Group LTD), Quota Share Treaty (Amerinst Insurance Group LTD)

Federal Excise Tax. A. The Reinsurer has agreed to Reinsurers will allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax.. 16\AQUA1007 Page 15 B. In the event of any return of premium becoming due hereunder premium, the Reinsurer Reinsurers will deduct the applicable aforesaid percentage from the return premium payable hereon and the Company or its agent should take steps to will recover the such tax from the United States Government.

Appears in 1 contract

Sources: Reinsurance Contract (Prudential Variable Contract Account Gi-2)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage 1.0% of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage 1.0% from the amount of the return premium payable hereon and the Company or its agent should take steps to recover the tax Tax from the United States Government.

Appears in 1 contract

Sources: Healthcare Liability Quota Share Reinsurance Contract (Allied World Assurance Co Holdings LTD)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder here under the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 1 contract

Sources: Excess Catastrophe Reinsurance Contract (Homeowners Choice, Inc.)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 1 contract

Sources: Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of (▇▇▇▇▇▇▇▇ LOGO) the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 1 contract

Sources: Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) Code to the extent such premium is subject to the Federal Excise Tax.. 06\M2U1137 (▇▇▇▇▇▇▇▇ LOGO) B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 1 contract

Sources: Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. (a) The Reinsurer has agreed agrees to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. (b) In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company Reinsured or its agent should take steps to recover is responsible for recovering the tax from the United States Government.

Appears in 1 contract

Sources: Reinsurance Agreement (Superior National Insurance Group Inc)

Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.

Appears in 1 contract

Sources: Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)

Federal Excise Tax. A. The Reinsurer has agreed to Reinsurers will allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax.. 19\AQUA1007Page 17 AONEmpower Results® B. In the event of any return of premium becoming due hereunder premium, the Reinsurer Reinsurers will deduct the applicable aforesaid percentage from the return premium payable hereon and the Company or its agent should take steps to will recover the such tax from the United States Government.

Appears in 1 contract

Sources: Reinsurance Contract (Prudential Variable Contract Account Gi-2)