Short Rate definition

Short Rate is defined as the difference between the lower contracted discount rate and the rate earned based on actual volume. When the advertiser fails to meet the previously contracted volume, space or frequency, the advertiser will be billed for that difference. Any credits, overpayments, or rebates regardless of how incurred will expire if not used within 12 months after they are earned.

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Short Rate means the refund calculated on a pro rata basis multiplied by .90. This policy will automatically terminate at the end of the policy period if you or your representative does not accept our offer to renew or continue it. Your failure to pay the required renewal premium means that you have declined our offer. If other insurance is obtained on your insured motorcycle, similar insurance afforded under this policy for that motorcycle will cease on the effective date of the other insurance. In addition, any coverage afforded under this policy will cease when a person other than you or a relative becomes the owner of that motorcycle. If different requirements for cancellation and non-renewal or termination of policies are required because of the laws of your state, we will comply with those requirements.

Short Rate means the refund calculated on a pro rata basis multiplied by .90.

Examples of Short Rate in a sentence

Short Rate Penalty Disclosure: If you are a current ADP Insurance Services client and the cancellation date of your Workers' Compensation policy is other than the anniversary date, you may incur a short rate penalty imposed by the current insurance carrier.
Any cancellations unless requested by the Insurance carrier will be computed on a Short Rate Basis, subject always to the Minimum Earned Clause.
Other than the fact that the Designated Maturity of the Short Rate for a Discontinued Rate and the Designated Maturity of the Long Rate for a Discontinued Rate shall be shorter and longer, respectively, than the Designated Maturity of the Discontinued Rate, such Short Rate and such Long Rate shall each be determined in the same manner that the Discontinued Rate would have been determined in accordance with the terms of the Affected Confirmation.
Should Publisher cancel a Service Agreement, no Short Rate Charge will be used unless Advertiser's account is delinquent.
In the event coverage is bound premium shall start being earned immediately and should coverage be terminated by the insured or BROKER for any reason whatsoever before expiration date of coverage, earned Premium shall be calculated in accordance with the customary Short Rate Table or minimum Premium requirement stipulated on the policy, certificate binder or invoice; whichever sum is greater.
Defendants contend that the Short Rate language in the Farmers Policies was permissible under California law, was approved by the California Department of Insurance on numerous occasions, and is consistent with Short Rate language used by numerous insurers operating in California (and throughout the country) prior to and during the Class Period.
Service Agreements subject to Short Rate Charges are void and must be re-signed with a new effective date.
Cancellations of unfulfilled Service Agreements not subject to a rate increase are subject Short Rate Charges.
Plaintiffs alleged in their Complaint that persons who purchased Farmers Policies, and who elected to terminate their respective policies Mid-Term, and whose return of unearned premium was calculated on a Short Rate basis, should have had their refund calculated on a pro rata basis.
Cancellation, unless requested by SterlingRisk or otherwise agreed to, will be computed on Standard Short Rate basis.

More Definitions of Short Rate

Short Rate means a fixed dollar value or percentage of premium, representing an

Short Rate means a return of unearned premium other than pro rata when a

Short Rate shall have the meaning assigned to such term ---------- in the applicable Indenture.