Insurance Premium Liability definition

Insurance Premium Liability means all Accounts Payable of Seller related to insurance premiums, all determined in accordance with GAAP consistently applied.
Sample 1
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
Insurance Premium Liability shall have the meaning assigned in Section 2.6(b).
Sample 1

Examples of Insurance Premium Liability in a sentence

  • 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.

Related to Insurance Premium Liability

  • 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.

  • 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.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Insurance carrier means every insurance carrier duly

  • Insurance Provider s Tender” means the completed Tendering Document submitted by the Insurance Provider to the Procuring Entity

  • Insurance Amount has the meaning set forth in Section 6.11(c).

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

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • 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

  • Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Insurance Schedule means Schedule 3 attached hereto.

  • 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.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Hazard Insurance A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.

  • Premium tax means a tax paid by insurance companies to provincial and territorial governments calculated as a percentage of gross premiums written.