Premium Adjustment definition
Examples of Premium Adjustment in a sentence
If within 6 months after the expiry or anniversary date of each period of insurance, the Insured shall file with the Insurer a Premium Adjustment Application Form showing, for the said period, the actual cash value of the “Stock” insured on the last day of each month at each location as commented upon by the Insured’s Accountant, the actual premium for the said period shall then be calculated at the rate applying to each location for the average amount of the total values declared.
Reinsurance Premium Adjustment (separately for First Year/Renewal) h.
The Monthly Specialty Premium Adjustment shall be included on the first Finished Products Invoice prepared after determination of such Monthly Specialty Premium Adjustment.
If a Member Entity has timely withdrawn or been expelled from a Program, any Retrospective Premium Adjustment credit shall remain with PARSAC until all Policy Year(s) in which they participated have been closed and reconciled.
Any Retrospective Premium Adjustment deficit shall be billed to the Member Entity at the time that particular Policy Year(s) is being reconciled.
Premium Adjustment Based on Experience - For health insurance, prices may be adjusted upward or downward based on the experience rating of the Mission(s) covered by this contract, and it specifically excludes all riders in B.
The apportionment of the Retirement Liability shall be calculated as set forth above, and the unfunded Retirement Liability then existing shall be paid as follows: The unfunded Retirement Liability then existing shall be paid prior to any distribution of assets as provided in ARTICLE XXV of the JPA Agreement and prior to the payment of any equity that may be determined as the result of the Retrospective Premium Adjustment process as set forth in ARTICLE XX.
With respect to Mortgage Loans without Prepayment Penalties, in the event that any such Mortgage Loan is prepaid in full on or before the date which is twelve months after the Closing Date, the Seller shall pay the Purchaser, within three (3) Business Days of such prepayment in full, the product of (a) the difference between the Purchase Price for such Mortgage Loan and the outstanding principal balance of such Mortgage Loan as of the Cut-off Date and (ii) the Premium Adjustment Percentage.
This clause applies if Premium Adjustment is indicated on the “Declarations Page” The Newly Acquired Equipment clause is deleted and replaced by: This Form also insures additional items of a similar kind to that scheduled in the “Declarations Page” acquired by the Insured during the policy period.
Each Monthly Location Premium Adjustment shall be included on the first Net Payment Amount Invoice prepared after its determination, and shall be subject to adjustment on future Net Payment Amount Invoices based on additional information received after the initial calculation.