Premium Mode Clause Samples
Premium Mode. Reinsurance premium mode will follow the premium mode of the underlying policy, with the Reinsurer collecting its proportionate share of policy fees and modal loads.
Premium Mode. THE COMPANY may chose to pay premiums in advance on an Annual or Monthly Mode as stated below. At the inception of this Agreement, THE COMPANY will pay premiums on an Annual Mode. At any time during the life of this agreement, THE COMPANY may chose to change from Annual Mode to Monthly Mode and vice versa by providing THE REINSURER with written notice at least 30 days prior to change.
Premium Mode. Annual in Advance