Insurance Premium Assets definition

Insurance Premium Assets means all of the Company’s Cash and accounts receivable related to insurance premiums and insurance premium advances, determined in accordance with Agreed Upon GAAP. The Company’s “Insurance Premium Liability” shall mean all of the Company’s accounts payable related to insurance premiums, determined in accordance with Agreed Upon GAAP.
Sample 1
Insurance Premium Assets means all cash and accounts receivable of Seller in each case related to insurance premiums account receivables, net of allowances for doubtful accounts, less advance premiums less commissions included in premium accounts receivable, all determined in accordance with GAAP consistently applied.
Sample 1
Insurance Premium Assets means all of Seller’s Accounts Receivable related to insurance premiums, net of allowances for doubtful accounts, advance premiums, and commissions included therein, all as determined in accordance with GAAP consistently applied. “Insurance Premium Liability” means all of Seller’s Accounts Payable related to insurance premiums, determined in accordance with GAAP consistently applied. “Interim Balance Sheet” has the meaning set forth in Section 4.2(j) hereof. “Juskowich” means Xxxxxxx Xxxxxxxxx. “Knowledge” means, with respect to any Seller Party, the actual knowledge of Xxxxxx Xxxxxxxx, Xxxxx Xxxxx, Xxxxx and Xxxxxxxxx, each after reasonable inquiry of their direct reports and Producers. “Leases” has the meaning set forth in Section 4.2(c) hereof. “Licenses” has the meaning set forth in Section 4.2(q) hereof. “Low-Rated Carrier” has the meaning set forth in Section 4.2(r) hereof. “Material Agreements” has the meaning set forth in Section 4.2(m) hereof. “Measurement Period” has the meaning set forth in Section 2.1 hereof. “Net Commissions and Fees” means (a) all commissions and fees received by Purchaser or its Affiliates in respect of the Client Accounts set forth on Schedule 1.1(a)(ii), including the cross-sell of a new product line to the Client and increases to coverage or any additional coverage sold to the Client (other than any Client who is also a client of any USI Company except where such cross-sell is generated by Cober or Juskowich), plus (b) all commissions and fees received by Purchaser or its Affiliates from new clients from and after the Closing Date and generated by Cober or Juskowich, less: (c)(1) commissions, fees and overrides paid or due to non-employee producers, or co- or sub-brokers; and (2) return commissions. “Net Commissions and Fees” shall exclude: (x) commissions or fees received by Purchaser on Client Accounts relating to individual life and individual disability policies or other non-recurring business; (y) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; and (z) interest and investment income. “Net Working Capital” means the excess or deficit of Seller’s current assets over current liabilities calculated in accordance with Schedule 2.2(a) (which will be prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby)
Sample 1

Examples of Insurance Premium Assets in a sentence

  • Other GOB line ministries, in considering mechanisms to achieve higher levels of implementation performance, view BEPU as a model.

  • The Base Purchase Price shall be reduced (the “Insurance Premium Adjustment”) by $1.00 for each $1.00 that the Company’s Insurance Premium Liability (as defined below) exceeds the Company’s Insurance Premium Assets (as defined below), each as reflected on the Closing Date Balance Sheet.


More Definitions of Insurance Premium Assets

Insurance Premium Assets shall have the meaning assigned in Section 2.6(b).
Sample 1

Related to Insurance Premium Assets

  • 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.

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;20

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

  • Casualty insurance means liability insurance.

  • Share Premium Account means the share premium account established in accordance with these Articles and the Companies Act.

  • Casualty Amount means Five hundred thousand Dollars ($500,000) (or the equivalent in any other currency);

  • Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Insurance premium finance company means a person engaged in the business of

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Net Insurance/Condemnation Proceeds means an amount equal to: (a) any Cash payments or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of Section 2.11(b)(ii), assets acquired after the Closing Date with the proceeds of equity contributions to, or the issuance of Qualified Capital Stock of, the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary) or (ii) as a result of the taking of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of Section 2.11(b)(ii), assets acquired after the Closing Date with the proceeds of equity contributions or the issuance of Qualified Capital Stock of the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary)) by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (b) (i) any actual out-of-pocket costs and expenses incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans and any Indebtedness secured by a Lien on the Collateral that is pari passu with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, or payment of other amounts due to, or required to be made available to, any Person under any other Contractual Obligation binding such assets or to which such assets are subject (including, without limitation, in the case of Real Estate Assets, any ground lease, lease or other occupancy agreement) (iii) in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, accountants’ fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing arrangements or any intercompany distribution)) in connection with any sale or taking of such assets as described in clause (a) of this definition, (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance/Condemnation Proceeds) and (vi) in the case of any covered loss or taking from a non-Wholly-Owned Subsidiary, the pro rata portion thereof (calculated without regard to this clause (vi)) attributable to minority interests and not available for distribution to or for the account of the Borrower or a Wholly-Owned Subsidiary as a result thereof.

  • Insured Premises means the place named in the Schedule.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Insurance Amount has the meaning set forth in Section 6.08(c).

  • Buyers Premium means a Commission payable by The Buyer to the Auctioneer. The Auctioneer, when acting as Agent for The Seller, may also receive

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Net Insurance Proceeds Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the express requirements of the Mortgage or Note or other Loan Documents included in the Mortgage File or in accordance with the Servicing Standard, or with respect to the environmental insurance policy, applied to pay any costs, expenses, penalties, fines or similar items; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Insurance Proceeds” under this Agreement shall be limited to any related Insurance Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Insurance Expenses means any Insurance Proceeds (i) applied to the repair of the related Leased Vehicle, (ii) released to the related Lessee in accordance with applicable law or the Customary Servicing Practices or (iii) representing other related expenses incurred by the Servicer that are not otherwise included in Liquidation Expenses or Disposition Expenses and recoverable by the Servicer under any applicable Servicer Basic Documents.

  • Insured Property means the vessel, including the power units, accessories and equipment. “Parasailing” means using your vessel to tow a person in a device designed for flight. “Waterskiing” means using your vessel to tow a person on water skis or flotation devices.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.