Future Premium definition

Future Premium being an amount equal to 68% of the Reinsured’s share (as reinsurer of CC2 pursuant to the 2010 CC2 LLQS) of the aggregate amount of net premiums written (net of acquisition costs, including in respect of amortisation after the Reference Date of the deferred acquisition costs asset established by the Managing Agent as at 30 September 2012) by CC2 as allocated by the Managing Agent on or after the Reference Date in respect of its participation as a member of Syndicate 4444 for the 2010 underwriting year of account, the quantum of which amount shall be calculated by reference to the difference between the aggregate of the figures stated in lines 5, 27, 28 and 29, column E of Form 102 (Reporting Year of Account – 2010) of each of the Q3 2012 QMA and the Closing QMA (provided that if at any time after the Effective Date there is a change in the syndicate financial reporting requirements of Lloyd’s - whether to the line or column items of Form 102 within the Quarterly Monitoring Return A or otherwise - the quantum of the amount referred to in this paragraph in respect of which any such change has an impact shall be calculated by reference to the replacements for the affected line and column items referred to in this paragraph (adjusted as may be necessary or appropriate if such replacements are not the exact equivalents of the relevant affected line and column items)) (such amount, prior to the operation of paragraph (ii) or (iii) (as applicable), the “Pre-Adjustment Premium” and after the operation of paragraph (ii) or (iii) (as applicable), the “Premium”).
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Future Premium the meaning given in paragraph (i)b of Article IV;
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Examples of Future Premium in a sentence

  • For each Insured Tranche, obtain the "Future Premium Multiplier" from Schedule 1A.

  • Obtain the "Terminal Settlement Amount" by subtracting the Future Premium from the Future Modeled Loss Amount.

  • Obtain the “Terminal Settlement Amount” by subtracting the Future Premium from the Future Modeled Loss Amount.

  • Each such Future Premium received by the Retrocedant shall be credited to the FW Canadian Account Balance upon the receipt of such premium, along with all interest, dividends or other income or loss on such Future Premium from the date of receipt by Retrocedant through the date of crediting to the FW Canadian Account Balance hereunder, and for so long as the FW Canadian Account Balance is maintained pursuant to this Agreement.

  • To the extent that any Future Premium Payment is not paid when due, interest shall accrue on such unpaid amounts at a rate equal to the Effective Interest Rate.

  • Each such Future Premium received by the Retrocedant shall be credited to the applicable FW Subaccount Balance(s) upon the receipt of such premium, along with all interest, dividends or other income or loss on such Future Premium from the date of receipt by Retrocedant through the date of crediting to the applicable FW Subaccount Balance(s) hereunder, and for so long as the FW Subaccount Balances are maintained pursuant to this Agreement.

  • For clarity, the Capital Accounts of NPI Limited Partner and the Optionee shall not include the Optionee Future Premium.

  • Client acknowledges that ▇▇▇▇▇▇ has arranged for the purchase of a Group Future Premium Immediate Annuity policy through United of Omaha (“Carrier”) to fund the Plan.

Related to Future Premium

  • Make-Whole Premium means, with respect to a Note at any redemption date, the greater of:

  • Single Premium means the amount payable by the Policyholder at the Policy Commencement Date, as per the amount specified in the Schedule.

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of the Note or the principal amount of a Defeased Note, as applicable, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments.