Definition of Policy Expenses


Policy Expenses means all amounts (including amounts in respect of premiums, fees, expenses or indemnities) due to the Policy Provider under the Policy Provider Agreement or the Note Purchase Agreement other than (i) any amounts due under the Policy Fee Letter, (ii) the amount of any Excess Reimbursement Obligations, (iii) any Policy Drawing, (iv) any interest accrued on any Policy Provider Obligations, (v) any amounts that the Policy Provider is entitled to receive by virtue of the subrogation rights of the Policy Provider hereunder and (vi) reimbursement of and interest on the Liquidity Obligations in respect of the Primary Liquidity Facility paid by the Policy Provider to the Primary Liquidity Provider; provided that if, at the time of determination, a Policy Provider Default exists, Policy Expenses shall not include any indemnity payments owed to the Policy Provider.
Sample 1


Policy Expenses means an amount equal to $170,000.
Sample 1

Examples of Policy Expenses in a sentence

Governance: Director Recruitment and Compensation Policy; Expenses and Disclosure Policy ...................................................................................................................
The Policy Expenses shall be payable by the Reinsurer to the Ceding Company in accordance with Section 9.03.
The Group has implemented a Global Computer Usage, Email and Internet Policy, Alcohol Policy, Drugs/Solvent Abuse and Dependency Policy, Expenses Policy and Mobile Phones Policy which the Executive is obliged to comply with at all times during the Employment.
Article VI When Reinsurer is not required to pay state premium taxes on reinsurance premiums Premium Taxes and received from the Ceding Company, it shall reimburse the Ceding Company for any such Policy Expenses taxes the latter may be required to pay with respect to the part of the premium received under the Ceding Company's original policies which is remitted to Reinsurer as reinsurance premium.
On a monthly basis, the Reinsurer shall pay to the Ceding Company an expense allowance related to all Reinsured Policies (the Administration Fee and, together with the Commissions and the Policy Issuance Fees, the Policy Expenses) in an amount equal to the Quota Share of (a) $3.00 multiplied by (b) (i) the number of Reinsured Policies in force on the first day of the relevant month plus the number of Reinsured Policies in force on the last day of the relevant month, divided by (ii) two (2).