Second Layer Sample Clauses

Second Layer. FCIC’s participation on this layer shall be one hundred percent (100%) of the amount by which the Company’s aggregate ultimate net losses exceeds five hundred percent (500%) of aggregate net book premium retained by the Company.
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Second Layer. 1. The premium for the reinsurance provided under this Agreement shall be computed at the rate of 5.166% of the Company’s gross net written premium on the business covered hereunder.
Second Layer. The Company shall retain the first $250,000 of ultimate net loss each risk, each occurrence. The Reinsurer shall indemnify the Company for 100% of the amount by which the ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed $750,000 ultimate net loss each risk, each occurrence, and is further subject to the limits set forth below: Loss Occurrence Limit $1,500,000 ultimate net loss for all risks in any one loss occurrence. Terrorist Activity Annual Aggregate Limit: $1,500,000 ultimate net loss in the aggregate for all loss occurrences each calendar year.
Second Layer. The Company shall retain the first $250,000 of ultimate net loss each risk, each occurrence. The Reinsurer shall indemnify the Company for 100% of the amount by which the ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed $750,000

Related to Second Layer

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  • Phase 2 Phase 2 is expected to consist of Member Nodes and a select number of Nodes operated by non-Members. The non-Member Nodes will be required to comply with Node hosting terms as set forth by the Council, which may be amended from time to time (the “General Node Terms”).

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  • Notice to Proceed - Land Acquisition The acquisition of the Land shall not occur until the Director has issued a written Notice to Proceed for land acquisition to the Recipient (the "Notice to Proceed"). Such Notice to Proceed will not be issued until the Director has received a Request to Proceed acceptable to the Director and is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and any requirements for land acquisition set forth in this Agreement, including without limitation the OPWC's approval of the proposed Deed Restrictions and Title Agent. The Notice to Proceed also shall specify the time frame for the Closing.

  • Post-Commercial Operation Date Testing and Modifications Each Party shall at its own expense perform routine inspection and testing of its facilities and equipment in accordance with Good Utility Practice as may be necessary to ensure the continued interconnection of the Large Generating Facility with the Participating TO’s Transmission System in a safe and reliable manner. Each Party shall have the right, upon advance written notice, to require reasonable additional testing of the other Party’s facilities, at the requesting Party’s expense, as may be in accordance with Good Utility Practice.

  • Site Allowance All new construction and extension/refurbishment work having a project value in excess of $2.0m will attract the then current City of Melbourne Site Allowance.

  • Four-Digit Date Compliance If this Agreement includes the purchase of systems, software, or instrumentation with imbedded chips, this section is applicable. Contractor represents and warrants that it will provide only Four-Digit Date Compliant deliverables and services to the JBE. “Four-Digit Date Compliant” deliverables and services can accurately process, calculate, compare, and sequence date data, including date data arising out of or relating to leap years and changes in centuries. This warranty and representation is subject to the warranty terms and conditions of this Agreement and does not limit the generality of warranty obligations set forth elsewhere in this Agreement.

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

  • Notice to Proceed - Site Improvements The Recipient shall not commence, or cause to be commenced, any site improvements or other work on the Land until the Director has issued a Notice to Proceed to the Recipient. Such Notice to Proceed will not be issued until the Director is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and has completed any land acquisition required by the Project. A Notice to Proceed shall be required for all Project prime contractors or direct procurement initiated by the Recipient following execution of this Agreement.

  • Boot Allowance The District will pay $180 toward the purchase and/or repair of work boots for District Employees listed in the District’s Work Apparel Policy and/or at the discretion of the employee’s department manager. Payment will be made by the first full paycheck of the employee’s date of hire and annually thereafter. Boots must meet applicable OSHA standards for the duties assigned.

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