Reinstatement Premium Sample Clauses

Reinstatement Premium. As respects each contract year, and in the event of the whole or any portion of the second Coverage B indemnity limit being exhausted by loss, the amount so exhausted shall be automatically reinstated from the time of the loss and the Company shall pay to the Reinsurers an Additional Premium calculated by applying to the annual Minimum Premium to Reinsurers for the respective contract year, the percentage that the amount of indemnity so reinstated bears to the total amount of indemnity coverage afforded under Coverage B, subject to a minimum of 100% as to time, to be paid simultaneously with the payment of loss by the Reinsurers. Notwithstanding the above, the first 90% of $10,000,000 indemnity Limit shall be reinstated by the Reinsurers free of charge. Nevertheless, the Reinsurers' liability in any one claim shall never exceed 90% of $10,000,000 Ultimate Net Loss plus pro rata Loss Adjustment Expenses in respect of Coverage B.
Sample 1See All (6)
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Reinstatement Premium. As respects each contract year, and in the event of the whole or any portion of the second COVERAGE B indemnity limit being exhausted by loss, the amount so exhausted shall be automatically reinstated from the time of the loss and the COMPANY shall pay to the REINSURERS an Additional Premium calculated by applying to the annual Minimum Premium to REINSURERS for the respective contract year, the percentage that the amount of indemnity so reinstated bears to the total amount of indemnity coverage afforded under COVERAGE B, subject to a minimum of 100% as to time, to be paid simultaneously with the payment of loss by the REINSURERS. Notwithstanding the above, the first 90% of $10,000,000 indemnity LIMIT shall be reinstated by the COMPANY free of charge. Nevertheless, the REINSURERS liability in any one claim shall never exceed 90% of $10,000,000 ULTIMATE NET LOSS plus pro rata LOSS ADJUSTMENT EXPENSES in respect of COVERAGE B.
Sample 1
Reinstatement Premium. As respects each contract year, and in the event of the whole or any portion of the second Coverage E indemnity limit being exhausted by loss, the amount so exhausted shall be automatically reinstated from the time of the loss and the Company shall pay to the Reinsurers an Additional Premium calculated by applying the aggregate Gross Written Premium to the Reinsurers for Coverage E for the respective contract year to the percentage that the amount of indemnity so reinstated bears to the total amount of indemnity coverage afforded 35 under Coverage E, to be paid simultaneously with the payment of loss by the Reinsurers. Notwithstanding the above, the first 100% of $14,500,000 indemnity limit shall be reinstated by the Reinsurers free of charge.
Sample 1
Reinstatement Premium. As respects each contract year, and in the event of the whole or any portion of the second COVERAGE B indemnity limit being exhausted by loss, the amount so exhausted shall be automatically reinstated from the time of the loss and the COMPANY shall pay to the REINSURERS an Additional Premium calculated by applying to the annual Minimum Premium to REINSURERS for the respective contract year, the percentage that the amount of indemnity so reinstated bears to the total amount of indemnity coverage of indemnity so reinstated bears to the total amount of indemnity coverage afforded under COVERAGE B, subject to a minimum of 100% as to time, to be paid simultaneously with the payment of loss by the REINSURERS. Notwithstanding the above, the first 90% of $10,000,000 indemnity LIMIT shall be reinstated by the REINSURERS free of charge.
Sample 1
Reinstatement Premium. Reinstatement premium, if any, collected with respect to any Reinsured Contract shall be apportioned between the parties as set forth on Schedule 1.3.
Sample 1

Related to Reinstatement Premium

  • Reinstatement, etc The Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment (in whole or in part) of any of the Guaranteed Obligations is rescinded or must otherwise be restored by any Lender Party, upon the insolvency, bankruptcy or reorganization of the Borrowers, any other Loan Party or otherwise, all as though such payment had not been made.

  • Reimbursement Premium (1) The Company shall, in a timely manner, pay the SBA its Reimbursement Premium for the Contract Year. The Reimbursement Premium for the Contract Year shall be calculated in accordance with Section 215.555, Florida Statutes, with any rules promulgated thereunder, and with Article X(2).

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Reinstatements If a policy reinsured on an automatic basis is reinstated in accordance with its terms or the rules of the Company, as provided to the Reinsurer, the Reinsured Policy will be reinstated automatically by the Reinsurer. The Reinsurer's approval is required only for the reinstatement of a facultative policy when the Company's regular reinstatement rules indicate that more evidence than a Statement of Good Health is required. The Company's liability with respect to the premiums in arrears is set out in Exhibit F.

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave.

  • Reinstatement after Leave An employee on an approved leave of absence is required to contact the Appointing Authority if an extension is being requested. Failure to contact the Appointing Authority about an extension prior to the end of the approved leave shall be deemed to be a voluntary resignation, and the employee shall be severed from State service. The Local Union and the Appointing Authority may agree to waive the five (5) month reassignment restriction in order to temporarily fill the position of an employee on unpaid Military Leave until s/he returns from active duty. Any employee returning from an approved leave of absence as covered by this Article shall be entitled to return to employment in his/her former position or another position in his/her former class/class option in his/her seniority unit, or a position of comparable duties and pay within his/her seniority unit. Employees returning from extended leaves of absence (one (1) month or more) shall notify their Appointing Authority at least two (2) weeks prior to their return from leave. Employees may return to work prior to the agreed upon termination date with the approval of the Appointing Authority. Employees returning from an unpaid leave of absence shall be returned at the same rate of pay the employee had been receiving at the time the leave of absence commenced plus any automatic adjustments that would have been made had the employee been continuously employed during the period of absence. (See also Article 12, Section 7A, regarding return from a leave of absence to a vacancy.)

  • Reinstatement Rights Reinstatement rights shall automatically cease five (5) years6 from the date ULA was commenced, and no further rights to reinstatement shall exist unless extended by written mutual consent of the School Board and the qualified teacher.

  • Reinstatement If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company's obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent.

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