PAYMENT OF PREMIUM definition

PAYMENT OF PREMIUM. The premium payable under this policy shall be paid in advance. No receipt for premium shall be valid except on the official form of the Company signed by a duly authorized official of the company. The due payment of premium and the observance and fulfilment of the terms, provisions, conditions and endorsements of this policy by the Insured Person in so far as they relate to anything to be done or complied with by the Insured Person shall be condition precedent to any liability of the Company to make any payment under this policy. No waiver of any terms, provisions, conditions and endorsements of this policy shall be valid, unless made in writing and signed by an authorised official of the Company.
PAYMENT OF PREMIUM. The Buyer shall through his broker and through ACYRSA pay the Premium Amount to the Seller on the Premium Payment Date Calculation Date: 3 Business Days following the Index Publication Date Payment Date: 7 Business Days following the Calculation Date Index Unit: 1 Index Unit corresponds to 0.003 Index points Trade Payment Amount: The sum of the Payment Amount, if positive, should be paid on the Payment Date by Party A to ACYRSA Business Days: Any day except Saturday, Sunday or a public holiday in Houston, Texas or Argentina Index Provider: S4, 684 M.T de Alvear 684, Retiro, CABA, Argentina Protected Crops: Soybean and Late Corn. Geographic Scope: Geographical Departments or Tiles (= grids of 0.2°x0.2° distinguishable by TileID) of a Geographical Departments as defined in Annex 1 in the Provinces of Buenos Aires, Catamarca, Chaco, Córdoba, Entre Rios, La Pampa, Salta, San Luis, Santa Fe, Santiago Del Estero and Tucuman (Republic of Argentina) and in Uruguay (Colonia, Rio Negro, Flores, Florida, Durazno, Paysandú, San José, Soriano) Coverage Level: 86%, 88%, 90%, 92%, 94% or 96% Geographical Department/Tile Maximum Payment (%): Geographical Department/Tile Historical Maximum Payment in its history (2000/01 – 2018/19) multiplied by 1.25, not less than 40% and not exceeding 100%. For Coverage Level 96% it is always 100% Geographical Department/Tile Protected Capital (USD): Maximum payment for each Geographical Department, as defined in Annex 1 Geographical Department/Tile Maximum Payment Amount (USD): Maximum Payment Amount for each Geographical Department/Tile, as defined in Annex 1. Geographical Department/Tile Premium (USD): Premium for each Geographical Department/Tile, as defined in Annex 1 Transaction Type: S4Drought Index (=Enhanced Vegetation Index) Put Option Put Option Buyer: Party B Put Option Seller: Party A Geographical Department/Tile Settlement Level: S4Drought Index, measured in Index Units for each Geographical Department/Tile; calculated by the Index Provider in accordance with the procedure detailed in Annex 2 Geographical Department/Tile Strike Level: Strike defined in Index Units for each Geographical Department/Tile according to Annex 1, calculated by multiplying the coverage level with the average S4Drought Index in its history (2000/01 – 2018/19) Geographical Department/Tile Notional Amount: 0.01 times Geographical Department/Tile Protected Capital, rounded to the nearest thousandth. Geographical Department/Tile Payment Amount: If the G...

Examples of PAYMENT OF PREMIUM in a sentence

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, THE ISSUING COMPANY SHALL PROVIDE CITY AT LEAST A TEN (10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, THE CONSULTANT SHALL PROVIDE CITY AT LEAST A TEN(10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.

  • PAYMENT OF PREMIUM (1) There shall be a provision for payment of premiums, a listing of premiums for all years, and any policy fees shall be identified.

  • PAYMENT OF PREMIUM (1) The policy shall provide for payment of the single premium in advance of the policy becoming effective.

  • PAYMENT OF PREMIUM (1) There shall be a provision for payment of premiums.

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, THE CONSULTANT SHALL PROVIDE CITY AT LEAST A TEN (10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.

  • PAYMENT OF PREMIUM (1) There shall be a provision describing the terms and conditions for the payment of premiums.

  • PAYMENT OF PREMIUM: Please note that this coverage is not to be sold as a commercial group policy.

  • PAYMENT OF PREMIUM WARRANTY It is a fundamental and absolute special condition of this Policy that the Premium due must be paid and received by the company before the inception date of this policy/Endorsement/renewal certificate.

  • ADVANCE DETERMINATION AND PAYMENT OF PREMIUM TAX CREDITS AND COST-SHARING REDUCTIONS.

Related to PAYMENT OF PREMIUM

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premium on a policy of insurance subject to this section, whether the payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit.[PL 1985, c. 671, §2 (NEW).]

  • Prepayment Premium With respect to any Mortgage Loan, any premium, fee or other additional amount (other than a Yield Maintenance Charge) paid or payable, as the context requires, by a borrower in connection with a principal prepayment on, or other early collection of principal of, that Mortgage Loan or any successor REO Loan with respect thereto (including any payoff of a Mortgage Loan by a mezzanine lender on behalf of the subject borrower if and as set forth in the related Intercreditor Agreement).

  • 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.

  • Yield Maintenance Premium As defined in the Mortgage Loan Agreement.

  • Fourth Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance and the Class D Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for such Payment Date; provided, however, that the Fourth Allocation of Principal on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class D Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal).

  • Fifth Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance and the Class E Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and the Fourth Allocation of Principal for such Payment Date; provided, however, that the Fifth Allocation of Principal on and after the Final Scheduled Payment Date for the Class E Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class E Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and the Fourth Allocation of Principal).

  • Second Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance and the Class B Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes and the Class B Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation of Principal for such Payment Date; provided, however, that the Second Allocation of Principal on and after the Final Scheduled Payment Date for the Class B Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class B Notes to zero (after the application of the First Allocation of Principal).

  • Third Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).

  • 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.

  • Regular Allocation of Principal means, with respect to any Payment Date, an amount not less than zero equal to (1) the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) (i) the Pool Balance as of the end of the related Collection Period less (ii) the Targeted Overcollateralization Amount minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal, the Fourth Allocation of Principal and the Fifth Allocation of Principal for such Payment Date.

  • First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period; provided, however, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.

  • Spread Maintenance Premium means, with respect to any prepayment of the Loan prior to August 15, 2009, a payment to Lender in an amount equal to the sum of the present value of each future installment of interest that would be payable under the Note on the principal amount of the Loan being prepaid from the date of such prepayment through, but excluding, August 15, 2009, assuming an interest rate equal to the Spread, discounted at an interest rate per annum equal to LIBOR as of the date of such prepayment; provided, however, no Spread Maintenance Premium shall be due in connection with the prepayment of the first $27,200,000.00 of the Loan.

  • Applicable Prepayment Premium means, as of any date of determination, with respect to and in the event of any prepayment of the Term Loans, (a) during the period of time from and after the Effective Date up to and including the date that is the first anniversary of the Effective Date, an amount equal to 2.00% times the principal amount of any such prepayment of the Term Loan on such date, (b) during the period of time after the date that is the first anniversary of the Effective Date up to and including the date that is the second anniversary of the Effective Date, an amount equal to 1.00% times the principal amount of any such prepayment of the Term Loan on such date, and (c) from the second anniversary of the Effective Date and at all times thereafter, zero.

  • Prepayment Premiums Any prepayment fees and penalties to be paid by the Mortgagor on a Mortgage Loan.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Make-Whole Premium means, with respect to a Security at any time, the excess, if any, of (a) the present value at such time of (i) the Redemption Price of such Security at April 15, 2018 set forth in the table in Section 3.7(a) plus (ii) any required interest payments due on such Security through April 15, 2018 (except for currently accrued and unpaid interest), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate plus 50 basis points, over (b) the principal amount of such Security.

  • Redemption Premium means (i) in the case of the Events of Default described in Section 4(a)(i) - (vi) and (ix) - (xii), 125% or (ii) in the case of the Events of Default described in Section 4(a)(vii) - (viii), 100%.

  • Yield Maintenance Default Premium As defined in the Mortgage Loan Agreement.

  • Yield Maintenance Amount means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no event be less than zero.

  • Additional Payment is as defined in Section 6 of the Agreement.

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.

  • Premium means any premium payable under the terms of the Notes.

  • Additional Payments means additional amounts required to be paid to a holder of any Note pursuant to Section 13 by reason of a Change in Tax Law; and a “Change in Tax Law” means (individually or collectively with one or more prior changes) (i) an amendment to, or change in, any law, treaty, rule or regulation of Canada after the date of the Closing, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation after the date of the Closing, which amendment or change is in force and continuing and meets the opinion and certification requirements described below or (ii) in the case of any other jurisdiction that becomes a Taxing Jurisdiction after the date of the Closing, an amendment to, or change in, any law, treaty, rule or regulation of such jurisdiction, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation, in any case after such jurisdiction shall have become a Taxing Jurisdiction, which amendment or change is in force and continuing and meets such opinion and certification requirements. No such amendment or change shall constitute a Change in Tax Law unless the same would in the opinion of the Company (which shall be evidenced by an Officer’s Certificate of the Company and supported by a written opinion of counsel having recognized expertise in the field of taxation in the Taxing Jurisdiction, both of which shall be delivered to all holders of the Notes prior to or concurrently with the Tax Prepayment Notice in respect of such Change in Tax Law) affect the deduction or require the withholding of any Tax imposed by such Taxing Jurisdiction on any payment payable on the Notes.

  • Special Event Prepayment Price means with respect to the Notes, a prepayment price equal to the greater of (a) 100% of the principal amount of the Notes being prepaid, or (b) as determined by the Quotation Agent, the present value of scheduled payments of principal and interest from the date of prepayment to May 23, 2036, on the Notes being prepaid, discounted to the date of prepayment on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate plus a spread of 0.50% and, in the case of (a) or (b), any accrued and unpaid interest thereon up to but excluding the date of prepayment.

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.