Future Premiums Clause Samples
The 'Future Premiums' clause defines the obligations and procedures regarding the payment of insurance premiums that become due after the policy's inception. Typically, this clause outlines when and how future premium payments must be made to maintain coverage, such as specifying payment schedules, grace periods, and consequences for non-payment. Its core practical function is to ensure that both the insurer and the insured are clear about ongoing payment responsibilities, thereby preventing lapses in coverage due to missed or late payments.
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Future Premiums. Company shall continue to pay the premiums on each of the policies and the premiums paid will be compensation to the Owner as agreed upon pursuant to an employment agreement between Owner and Company.
Future Premiums. Zenith is entitled to receive all premiums and other consideration paid on or after the Effective Date with respect to the Insurance Contracts. In the event that the Company receives any premiums or other consideration with respect to an Insurance Contract on or after the Effective Date, it shall promptly remit such premiums or other consideration to Zenith, along with pertinent information in its possession relating to such premiums, including information as to the Insurance Contract and period to which such premium relates. Zenith shall assume all responsibility for billing and collection of premiums. The Company shall reasonably cooperate with Zenith in causing insureds under the Insurance Contracts to pay premiums to Zenith after the Effective Date.
Future Premiums. Zenith is entitled to receive all premiums and other consideration paid on or after the Effective Date with respect to the Insurance Contracts. In the event that any Insurance Subsidiary receives any premiums or other consideration with respect to an Insurance Contract on or after the Effective Date, it shall promptly remit such premiums or other consideration to Zenith, along with pertinent information in its possession relating to such premiums, including information as to the Insurance Contract and period to which such premium relates. As set forth more fully in the Insurance Agreement, Zenith shall assume all responsibility for billing and collection of premiums. The Insurance Subsidiaries shall reasonably cooperate with Zenith in causing insureds under the Insurance Contracts to pay premiums to Zenith after the Effective Date.
Future Premiums. The Assumption Reinsurer is entitled to receive all premiums and other consideration paid on or after the date the Policy becomes a Novated Policy. In the event that the Company receives any premiums or other consideration with respect to a Novated Policy on or after the Effective Date, it shall promptly remit such premiums or other consideration to the Assumption Reinsurer, along with pertinent information in its possession relating to such premiums, including information as to the Novated Policy and the period to which such premium relates. The Company shall cooperate with the Assumption Reinsurer in causing insureds under the Novated Policies to pay premiums to the Assumption Reinsurer.