Second and subsequent Sample Clauses

Second and subsequent. Drawings If the second or any subsequent Drawing of a Vessel Loan is made otherwise than on the first day of an Interest Period for the balance of that Vessel Loan, there shall be a separate initial Interest Period for that Drawing commencing on its Drawdown Date and expiring on the final date of the then current Interest Period for the balance of that Vessel Loan.
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Second and subsequent. Calculations - If the calculation produces a positive number, that number will be multiplied by the applicable percentage listed below to calculate the Profit Commission due Agent less any previously paid Profit Commission Second Annual Calculation - 60% Third Annual Calculation - 70% Fourth Annual Calculation - 80% Fifth Annual Calculation - 90% Sixth Annual Calculation - 100% The remaining profit, if any, will be retained by Company. If the calculation produces a deficit number, Agent will pay back any Profit Commission paid from previous calculations and, if still in a deficit, Company will seek reimbursement under the terms and conditions of TICNY Quota Share. Any Profit Commission due Agent will be paid by Company within thirty (30) days after receipt and confirmation by Company. Any return Profit Commission due Company will be paid by Agent with its calculation. It is agreed that Company may request an interim calculation if it is determined that the calculation will result in a deficit to Company. Agent warrants that it will immediately return any previously paid Profit Commission by wire transfer to Company's account. The validity of this interim calculation may be contested under the provisions of this Agreement but Agent will advance 100% of any previously paid Profit Commission while it is contesting. It is agreed that reserves for losses incurred but not reported will be determined by Agent's actuary and approved by Company's actuary. In event Company and Agent cannot agree on the value of (i) through (v) as set forth above, they will mutually appoint an independent actuary and/or appraiser to assess such obligations. Any expense associated with the appointment of an independent actuary and/or appraiser will be paid by Agent. Profit Commission calculations will be cumulative if Company elects to renew this Agreement and PXRE Quota Share with PXRE or another reinsurer. Company's obligations to pay any profit commission is contingent upon receipt of such profit commission amounts from the reinsurer. The Company shall have no obligation to pay any profit commission if such profit commission is not received from the reinsurer. The Company shall have 30 (thirty) days from receipt of the profit commission to remit the commission to the Agent. The Company shall have no obligation to calculate any profit commission pursuant to the terms of this paragraph. EXHIBIT B UNDERWRITING GUIDELINES Effective August 1, 2003 to December 31, 2004 TO BE RETAINED ON ...
Sample 1
Second and subsequent. Drawings If the second or any subsequent Drawing is made otherwise than on the first day of an Interest Period for the balance of the Loan, there shall be a separate initial Interest Period for that Drawing commencing on its Drawdown Date and expiring on the final date of the then current Interest Period for the balance of the Loan.
Sample 1

Related to Second and subsequent

  • Requirements Pertaining Only to Federal Grants and Subrecipient Agreements If this Agreement is a grant that is funded in whole or in part by Federal funds:

  • Background and Narrative of Budget Reductions 2. Assumptions Used in the Deficit Reduction Plan: - EBF and Estimated New Tier Funding: - Equal Assessed Valuation and Tax Rates: - Employee Salaries and Benefits: - Short and Long Term Borrowing: - Educational Impact: - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain: ESTIMATED LIMITATION OF ADMINISTRATIVE COSTS (School Districts Only) (For Local Use Only)

  • FALSE STATEMENTS CONCERNING HIGHWAY PROJECTS T h i s p r o v i s i o n i s applicable to all Federal-aid construction contracts and to all related subcontracts. In order to assure high quality and durable construction in conformity with approved plans and specifications and a high degree of reliability on statements and representations made by engineers, contractors, suppliers, and workers on Federal- aid highway projects, it is essential that all persons concerned with the project perform their functions as carefully, thoroughly, and honestly as possible. Willful falsification, distortion, or misrepresentation with respect to any facts related to the project is a violation of Federal law. To prevent any misunderstanding regarding the seriousness of these and similar acts, Form FHWA-1022 shall be posted on each Federal-aid highway project (23 CFR 635) in one or more places where it is readily available to all persons concerned with the project: 18 U.S.C. 1020 reads as follows: "Whoever, being an officer, agent, or employee of the United States, or of any State or Territory, or whoever, whether a person, association, firm, or corporation, knowingly makes any false statement, false representation, or false report as to the character, quality, quantity, or cost of the material used or to be used, or the quantity or quality of the work performed or to be performed, or the cost thereof in connection with the submission of plans, maps, specifications, contracts, or costs of construction on any highway or related project submitted for approval to the Secretary of Transportation; or Whoever knowingly makes any false statement, false representation, false report or false claim with respect to the character, quality, quantity, or cost of any work performed or to be performed, or materials furnished or to be furnished, in connection with the construction of any highway or related project approved by the Secretary of Transportation; or Whoever knowingly makes any false statement or false representation as to material fact in any statement, certificate, or report submitted pursuant to provisions of the Federal-aid Roads Act approved July 1, 1916, (39 Stat. 355), as amended and supplemented; Shall be fined under this title or imprisoned not more than 5 years or both."

  • GEOGRAPHIC AREA AND SECTOR SPECIFIC ALLOWANCES, CONDITIONS AND EXCEPTIONS The following allowances and conditions shall apply where relevant: Where the company does work which falls under the following headings, the company agrees to pay and observe the relevant respective conditions and/or exceptions set out below in each case.

  • EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement.

  • EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFIT PLANS This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement. Nothing in this Agreement shall confer upon Executive the right to continue in the employ of the Bank or shall impose on the Bank any obligation to employ or retain Executive in its employ for any period.

  • Statements, Confirmations and Notices of Adverse Claims (a) The Account Holder will send copies of all statements and confirmations for each Account simultaneously to the Secured Party and the Grantor.

  • Exceptions and Extension of Payment Due Date NYSERDA has determined that, notwithstanding the provisions of Sections 504.3 and 504.4 of this Exhibit, any of the following facts or circumstances, which may occur concurrently or consecutively, reasonably justify extension of the Payment Due Date:

  • Reference to and Effect on Loan Documents (a) Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import, and each reference in the other Loan Documents to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended hereby.

  • Agreements, Conditions and Covenants The Purchaser shall have performed or complied in all material respects with all agreements, conditions and covenants required by this Agreement to be formed or complied with by it on or before the Closing Date.

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