Policy Charge Sample Clauses

Policy Charge. Policy charge is payable throughout the policy term. We will impose the policy charge through cancellation of units starting once the policy commences and the next day after the policy monthiversary for subsequent deductions. The monthly policy charge is calculated as below: Policy charge = 0.80% p.a. / 12 X Account value If there are any pending transactions, We may defer the deduction of the policy charge until the transaction is completed and We will use the unit price as of the next Valuation day. We will continue to deduct the policy charge even if You miss paying any regular Premium. We reserve the right to revise the policy charge by giving You thirty (30) days’ written notice.
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Policy Charge. While the policy is in force, We will deduct a policy charge via unit deduction from the initial account value and additional account value of each Top-up (if applicable). Policy charge will be calculated separately for the initial account value and the Additional account value of each Top-up. The policy charge is equivalent to a percentage of the initial account value and additional account value of each Top-up. Please refer to the table below detailing the policy charge. Policy Year From The Policy Commencement Date And Top-up Effective Date Policy Charge (% p.a. Of The Initial Account Value And Additional Account Value Of Each Top-up) 1 2.30% 2 2.30% 3 2.30% 4 2.30% 5 2.30% 6 and above 1.00% Policy charge will be deducted before the representative management charge. Deduction from the initial account value starts on the Policy commencement date and subsequently on the same date of every month as Your Policy commencement date. Deduction from the Additional account value of each Top-up starts on the Top-up effective date and subsequently on the same date of every month as Your respective Top-up effective date. If this date is not available in the month, deduction will occur on the following day. If there are any pending transactions, We may defer the deduction of the policy charge until the transaction is completed and We will use the unit price as of the next valuation day. We reserve the right to revise the policy charge any time at our discretion by giving You thirty (30) days’ written notice.
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Related to Policy Charge

  • Service Charge The Tenant must pay the Service Charge in accordance with Part 1 of Schedule 3. VAT The Tenant must pay: VAT on any consideration in respect of a VAT Supply to the Tenant by the Landlord at the same time as the consideration is paid; and on demand VAT (and interest, penalties and costs where these are incurred because of anything the Tenant does or fails to do) charged in respect of any VAT Supply to the Landlord in respect of the Premises where that VAT is not recoverable by the Landlord from HM Revenue & Customs. The Tenant must not do anything that would result in the disapplication of the option to tax in respect of the Landlord’s interest in the Building. Interest on overdue payments The Tenant must pay interest on the Rents and on all other sums not paid on or by the due date (or, if no date is specified, not paid within 10 Business Days after the date of demand). Interest will be payable at the Interest Rate for the period starting on the due date (or date of demand) and ending on the date of payment. Reimburse costs incurred by the Landlord The Tenant must pay on demand the Landlord’s costs (including legal and surveyor’s charges and bailiff’s and enforcement agent’s fees) and disbursements in connection with: any breach of the Tenant’s obligations in this Lease, including the preparation and service of a notice under section 146 of the 1925 Act; any application by the Tenant for consent under this Lease, whether that application is withdrawn or consent is granted or lawfully refused, except in cases where the Landlord is required to act reasonably and the Landlord unreasonably refuses to give consent; [and] [carrying out works to the Premises to improve their Environmental Performance where the Tenant, in its absolute discretion, has consented to the Landlord doing so; and]31 the preparation and service of a schedule of dilapidations served no later than six months after the End Date. Third party indemnity32 The Tenant must indemnify the Landlord against all actions, claims, demands made by a third party, all costs, damages, expenses, charges and taxes payable to a third party and the Landlord’s own liabilities, costs and expenses incurred in defending or settling any action, claim or demand in respect of any personal injury or death, damage to any property and any infringement of any right, in each case arising from: the state and condition of the Premises or the Tenant’s use of them; the exercise of the Tenant’s rights; or the carrying out of any Permitted Works. In respect of any claim covered by the indemnity in clause 4.7.1, the Landlord must: give formal notice to the Tenant of the claim as soon as reasonably practicable after receiving notice of it; provide the Tenant with any information and assistance in relation to the claim that the Tenant may reasonably require and the Landlord is lawfully able to provide, subject to the Tenant paying to the Landlord all costs incurred by the Landlord in providing that information and assistance; and mitigate its loss (at the Tenant’s cost) where it is reasonable for the Landlord to do so.

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