Surplus Contribution definition

Surplus Contribution means, at any given time, an amount equal to the excess of (a) the aggregate amount of total Capital Contributions of the Member with the greatest aggregate total Capital Contributions over (b) the aggregate amount of total Capital Contributions of the other Member.
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Surplus Contribution has the meaning set forth in Section 2.1(b).
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Examples of Surplus Contribution in a sentence

  • The Surplus Contribution will be made during the first five full years of membership.

  • The Surplus Contribution is payable to PURE on or prior to the initial effective date of coverage and within 30 days of the effective date of all endorsements generating an additional premium.

  • If such a rejection of coverage occurs after receipt of the surplus contribution by PURE, the Surplus Contribution will be returned to the prospective Subscriber, without payment of interest.

  • Vault has the right to reject any application for insurance and the offer of payment of premium and Surplus Contribution, including this Agreement.

  • If such a rejection of coverage occurs after receipt of the Surplus Contribution by Vault, the Surplus Contribution will be returned to you, without payment of interest.

  • Upon the termination of all insurance policies of the Subscriber, subject to the approval of the Florida Office of Insurance Regulation and as set forth in this Agreement, the balance remaining in the Subscriber’s SSA or eligible Surplus Contribution, after allocation of expenses and claims, will be returned to the Subscriber, within six (6) months.

  • No payment of a returned Surplus Contribution or distribution of SSA funds will be made to a terminated subscriber if such payment could risk the financial impairment of PURE.

  • No payment of a returned Surplus Contribution or distribution of SSA funds, including those to a Senior Member, will be made to a terminated Subscriber or Senior Member if such payment could risk the financial impairment of PURE.

  • For each of the first five years of your membership with Vault, the Surplus Contribution will be paid at the following rates: (i) Ten percent (10%) of annual Homeowners (with Windstorm coverage) policy premium; and (ii) Four percent (4%) of annual policy premium for all other policies.

  • In the event that Parent does not deliver such Capital and Surplus Contribution Amount to Buyer within such time period, Buyer may, at its sole option, advance such Capital and Surplus Contribution Amount to the applicable Acquired Company and provide written notice of such advance to Parent, and Parent shall be liable to Buyer for the full Capital and Surplus Contribution Amount actually funded by Buyer.