Premium Yield definition

Premium Yield means gross billed premiums (including 100% of premium revenue due Seller and Seller's Affiliates for point-of-service Members, without offset for the indemnity component of the point-of-service plan), less cancellations, returned premiums, and bad debt but shall not include deductions for commissions, premium taxes or Texas Health Insurance Risk Pool Assessments. The calculation required by this Section shall be made by Seller and Buyer within 60 days of Closing with any payment owed due within 90 days of Closing. Such calculation shall be performed using the identical methodology as the calculations set forth above, subject to such methodology being consistent with Seller's past practice as it relates to payment of commissions.
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Examples of Premium Yield in a sentence

  • For Premium Yield Accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the Account each day.

  • For all dividend-bearing Accounts (except Premium Yield Accounts), dividends are calculated by the average daily balance method which applies a daily periodic rate to the average daily balance for the average daily balance calculation period.

  • Such transfers will be automated preauthorized transfers and will continue to be made until terminated or changed in accordance with the terms of this Premium Yield Sweep Agreement.

  • Automatic transfers to and from the Premium Yield Account may occur each Business Day.

  • All Customer transaction activity to and from the Premium Yield Account must occur through an automatic transfer from or to the Master Account pursuant to this Premium Yield Sweep Addendum.

  • Bank may change the rate of interest paid on the Premium Yield Account from time to time without advance notice to Customer.

  • Customer designates the accounts to be considered as the Master Account and Line of Credit for use with the Premium Yield Sweep Service in the Enrollment Form.

  • Customer may use the Premium Yield Sweep Service to preauthorize daily transfers to and from the “Master Account” and the “Premium Yield Account” and to and from the Master Account and Customer’s “Line of Credit Account” with Bank each as designated in the Premium Yield Sweep Services section of the Enrollment Form, subject to the terms of this Premium Yield Sweep Addendum.

  • In all other respects, the Premium Yield Account is subject to the terms of Bank’s standard agreement for commercial deposit accounts, a copy of which is available upon request.

  • Interest on funds in the Premium Yield Account will be calculated daily and credited daily.