Qualifying Premiums Clause Samples

Qualifying Premiums. As used in this Agreement, (i) "Qualifying Premiums" means the aggregate amount of collected premiums for life insurance or annuity products issued by the Company or any insurance company affiliate of the Company as of the date hereof and any insurance company which becomes an affiliate of the Company after the date hereof, unless such future affiliate, at the time that the Company entered into a letter of intent or other expression of intent or purchase contract, whichever is earliest, (i) was engaged in the marketing and sale of life insurance policies, annuity contracts or other financial related products for the senior (over age 55) market (the "Senior Business") for at least 12 months (to include, without limitation, assumed reinsurance and direct written premiums by any such person) and (ii) derived more than fifty percent (50%) of its revenues from the Senior Business, that , in each case, are
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Qualifying Premiums. As used in this Agreement, (i) "Additional Option Qualifying Premiums" means the aggregate amount of collected premiums for life insurance or annuity products issued by the Company or any insurance company affiliate of the Company as of the date hereof, unless such future affiliate, at the time that the Company entered into a letter of intent or other expression of intent or purchase contract, whichever is earliest, (i) was engaged in the marketing and sale of life insurance policies, annuity contracts or other financial related products for the Senior Business for at least 12 months (to include, without limitation, assumed reinsurance and direct written premiums by any such person) and (ii) derived more than fifty percent (50%) of its revenues from the Senior Business, in each case, that are marketed by or through Purchaser and (ii) "Additional Option Determination Period" means the period beginning on July 1, 2003 and ending on December 31, 2005. Within ten (10) business days following the end of each calendar month within the Additional Option Determination Period, the Company shall deliver to Purchaser a good-faith estimate of the Additional Option Qualifying Premiums for that immediately preceding calendar month. Within ten (10) business days following the end of the Additional Option Determination Period, the Company shall deliver to Purchaser a written calculation of Additional Option Qualifying Premiums specifying in reasonable detail the basis for such calculation. Purchaser shall have the right, at reasonable times and upon reasonable notice, to inspect such books and records of the Company, the Insurance Companies and Marketing Sub as may be reasonably necessary to determine whether the calculation of Additional Option Qualifying Premiums is correct. Purchaser may deliver to the Company, within twenty (20) business days following the end of the Additional Option Determination Period, a written objection to the calculation of Additional Option Qualifying Premiums and, if such objection is not resolved to the satisfaction of Purchaser within five (5) business days, then the disagreement shall be referred to a national accounting firm jointly selected by the Company and Purchaser (excluding firms which provide material services to the Company or Purchaser) (the "Additional Option Arbitrator") who will determine the correct amount of Additional Option Qualifying Premiums. In the event the parties cannot agree upon the selection of the Additional Opt...
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Qualifying Premiums. As used in this Agreement, (i) "Qualifying Premiums" means the aggregate amount of collected premiums for life insurance or annuity products issued by the Company or any insurance company affiliate of the Company as of the date hereof and any insurance company which becomes an affiliate of the Company after the date hereof, unless such future affiliate, at the time that the Company entered into a letter of intent or other expression of intent or purchase contract, whichever is earliest, (i) was engaged in the marketing and sale of life insurance policies, annuity contracts or other financial related products for the senior (over age 55) market (the "Senior Business") for at least 12 months (to include, without limitation, assumed reinsurance and direct written premiums by any such person) and (ii) derived more than fifty percent (50%) of its revenues from the Senior Business, that, in each case, are marketed by or through any insurance company affiliate of the Company (except as provided above), FICFS whether through a contact made by an employee or agent of FICFS or a marketing relationship developed through FICFS (including Equita Financial and Insurance Services of Texas, Inc.), or any of their respective agents, and (ii) "Determination Period" means the period beginning on July 1, 2003 and ending on December 31, 2005. Within ten (10) business days following the end of the Determination Period, the Company shall deliver to the Optionee a written calculation of Qualifying Premiums specifying in reasonable detail the basis for such calculation. Any disagreements with respect to the Qualifying Premiums amount shall be resolved using the dispute resolution mechanisms set forth in Section 9.8 that certain Employment Agreement of even date herewith, between the Company and the Optionee (the "Employment Agreement").
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Related to Qualifying Premiums

  • Shift Premiums (a) All employees who are required by the Employer to rotate over two (2) or more shifts shall receive a shift premium of thirty cents ($0.30) for each hour worked on the afternoon or evening shifts only. Shift premium will not be paid for any hour in which an employee receives overtime premium and shift premium will not form part of the employee's straight time hourly rate. (b) In no event shall there be any pyramiding of benefits or payments.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Overtime and Premium Pay A nurse shall be paid at the rate of one and one- half (1½) times the nurse’s regular hourly rate of pay for all hours worked in any one category listed below, including statutory overtime pay under 9.4.1 or premium pay under 9.4.2 through

  • Base Year The period beginning on 1 April of one year and ending on 31 March of the following year.

  • Overtime Meal Allowance Employees required to work more than two (2) hours overtime consecutive with a shift shall be provided with a meal by the Employer.