Common use of PAYMENTS UNDER VARIABLE PAYMENT PLANS Clause in Contracts

PAYMENTS UNDER VARIABLE PAYMENT PLANS. FIRST PAYMENT. The first payment under a variable payment plan will be due as of the effective date of the payment plan. The amount of the first payment is the sum of payments from each Division, each determined by multiplying the benefits allocated to the Division under the variable payment plan by the applicable monthly variable payment rate per $1,000 of benefits.

PAYMENTS UNDER VARIABLE PAYMENT PLANS. FIRST PAYMENTFirst Payment. The first payment under a variable payment plan will be due as of the effective date of the payment plan. The amount of the first payment is the sum of payments from each Division, each determined by multiplying the benefits allocated to the Division under the variable payment plan by the applicable monthly variable payment rate per $1,000 of benefits.