Binder payment definition

Binder payment means the first month’s payment required to effectuate enrollment in a new qualified health plan that is not the same plan or product renewed for the new calendar year.
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Related to Binder payment

  • Guarantor Payment as defined in Section 5.11.3.

  • Application for Payment means a written request submitted by Contractor to A/E for payment of Work completed in accordance with the Contract Documents and approved Schedule of Values, supported by such substantiating data as Owner or A/E may require.

  • Due for Payment means, with respect to any Insured Amounts, such amount that is due and payable under the Indenture on the related Payment Date.

  • Request for Payment means a payment application or declaration of expenditure submitted by the Member State to the Commission;

  • Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.