Profit Commissions definition

Profit Commissions has the meaning given to such term in the Services Agreement.
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Profit Commissions means, profit commissions (howsoever called) which are paid by the cedent to the Company pursuant to the terms of a Covered Contract and which are a function of the profit position of the underlying risk to the Covered Contract.
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Examples of Profit Commissions in a sentence

  • Profit Commissions shall be due and payable no later than March 15 following the end of each Underwriting Year (or calendar year subsequent to the Term).

  • If any calculation of Profit Commission determines that AUL was overpaid in prior years, the amount of any such overpayment shall be a deduction from Profit Commissions for other Underwriting Years due from the Company to AUL in the Profit Commission Report.

  • In the event the Underwriting Cash Flow Profit Commissions earned do not reduce the Advance Underwriting Cash Flow Profit to zero, the Reinsured shall retain such advance until all losses are paid under this Agreement.

  • Amounts owed to and from the parties for various Underwriting Years shall be offset against each other, and only the net amount shall be due; provided, however, that if the aggregate balance which otherwise would be due from the Company to AUL as of any March 15 for all Underwriting Years is negative, such amount shall not be due from AUL to the Company at such time, and the relevant experience shall be carried forward as respects determination of future Profit Commissions.

  • Reinsurers agree to the use of a copy (including a photocopy) or duplicate of the applicable Slip or Wording for the collection and taking down of Additional Premium(s) or Return Premium(s) or Premium Adjustment(s) or Profit Commission(s).

  • This advance commission shall be used to pay Underwriting Cash Flow Profit Commissions earned under the Agreement.

  • The Profit Commissions Estimate and payment shall be final irrespective of the actual amounts of future Profit Commissions.

  • The Profit Commissions Estimate shall be provided by such firm to AUL and Highbridge in writing.

  • If any calculation of Profit Commission determines that AUI was overpaid in prior years, the amount of any such overpayment shall be a deduction from Profit Commissions for other Underwriting Years due from the Company to AUI in the Profit Commission Report.

  • Amounts owed to and from the parties for various Underwriting Years shall be offset against each other, and only the net amount shall be due; provided, however, that if the aggregate balance which otherwise would be due from the Company to AUI as of any March 15 for all Underwriting Years is negative, such amount shall not be due from AUI to the Company at such time, and the relevant experience shall be carried forward as respects determination of future Profit Commissions.

Related to Profit Commissions

  • Planning Commission means the Planning Commission of the City.

  • Selling Commissions means any and all commissions payable to underwriters, dealer managers or other broker-dealers in connection with the sale of Shares, including, without limitation, commissions payable to the Dealer Manager.

  • Joint Commission means a joint commission consisting of repre­ sentatives of Iran and of China, France, Germany, the Russian Federation, the United Kingdom and the United States with the High Representative of the Union for Foreign Affairs and Security Policy (‘High Representative’), that will be established to monitor the implementation of the Joint Comprehensive Plan of Action of 14 July 2015 (‘JCPOA’) and will carry out the functions provided for in the JCPOA, in accordance with point ix of the JCPOA's ‘Preamble and General Provisions’ and Annex IV to the JCPOA.

  • Railways Commission means the Western Australian Government Railways Commission established pursuant to the Government Railways ▇▇▇ ▇▇▇▇;

  • Tax Commission means the Oklahoma Tax Commission;