Maximum Annual Direct Written Premium Volume Sample Clauses

Maximum Annual Direct Written Premium Volume. The Administrator’s written capacity authority on business it produces shall be limited to the following (measured in gross written premiums in a calendar year): $20 million The Parties acknowledge that year-over-year growth in written premium will need to be managed in such a way as to avoid putting strain on the Company’s surplus, which could result in downward pressure on its Demotech rating and/or outlook. As such, it is in the best interests of both Parties to effectively manage the Company’s premium growth. The Company and Administrator will communicate regularly about the level of premium growth throughout each year and will cooperate to ensure that the objectives outlined in this paragraph are being adequately monitored and addressed. Notwithstanding the premium volumes defined above, the Administrator may request the Company to increase its written premium volume authority if the Company has sufficient surplus, as determined in the Company’s sole discretion. In addition, the Company, upon written notice to the Administrator, may reduce the Administrator’s written capacity authority if it is deemed necessary, in the Company’s sole reasonable discretion, in order to maintain an adequate Authorized Control Level Risk-Based Capital Ratio (“ACL RBC Ratio”), which, for the purpose of this Agreement, is defined as an ACL RBC Ratio of at least 400%. 2.
Sample 1
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Maximum Annual Direct Written Premium Volume. Subject to regulatory approval as an admitted carrier, the Administrator’s written capacity authority shall be limited to the following (measured in gross written premiums in a calendar year): Alabama [***] million Louisiana [***] million South Carolina [***] million New York [***] million Texas [***] million Delaware [***] million Georgia [***] million Maryland [***] million New Jersey [***] million North Carolina [***] million Rhode Island [***] million Subject to limitations for maximum premium volume as follows: o Year 2013 = [***] million o Year 2014 = [***] million o Year 2015 = [***] million o Year 2016 = [***] million o Year 2018 = [***] million o Year 2019 = [***] million 3.
Sample 1
Maximum Annual Direct Written Premium Volume.  Subject to regulatory approval as an admitted carrier, the Administrator’s written capacity authority shall be limited to the following (measured in gross written premiums in a calendar year):   Alabama ***** million  Louisiana ***** million  South Carolina ***** million  New York ***** million  Texas ***** million  Delaware ***** million  Georgia ***** million  Maryland ***** million  New Jersey ***** million  North Carolina ***** million  Rhode Island ***** million  Subject to limitations for maximum premium volume as follows:     Year 2013 = ***** million   Year 2014 = ***** million   Year 2015 = ***** million   Year 2016 = ***** million   Year 2018 = ***** million   Year 2019 = ***** million 
Sample 1
Maximum Annual Direct Written Premium Volume.  Subject to the Company obtaining regulatory approval to transact insurance as an admitted carrier in the following states, the Administrator’s written capacity authority shall be limited to the following (measured in gross written premiums in a calendar year):    Alabama ***** million  Louisiana ***** million  South Carolina ***** million  New York ***** million  Texas ***** million  Delaware ***** million  Georgia ***** million  Maryland ***** million  New Jersey ***** million  North Carolina ***** million  Rhode Island ***** million  Notwithstanding the foregoing, the Company, in its sole discretion, upon written notice to Administrator and in accordance with all applicable state laws and regulations, may reduce or terminate Administrators authority in and or all of states listed above.  Subject to limitations for maximum premium volume as follows:     Year 2013 = ***** million   Year 2014 = ***** million   Year 2015 = ***** million   Year 2016 = ***** million   Year 2017 = ***** million   Year 2018 = ***** million   Year 2019 = ***** million  Notwithstanding the premium volumes defined above, Company and Administrator will plan each upcoming year’s projections and capital needs as those capital resources are available within FNIC. In the event that FNIC has limited capital for any reason (problems in or out of Florida and based on catastrophes or all other perils), then Company will then allocate the capital along the same HFD 224573.6 percentages as the prior year. For example, non-Florida homeowners was 18% of $500 million of premium during the prior year and then Company will give Administrator 18% of the upcoming year’s capital. The objective is to prevent non-renewals both in and out of Florida though Company may need to contain growth outside of Florida if FNIC is capital constrained. 
Sample 1

Related to Maximum Annual Direct Written Premium Volume

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • CONTRACT YEAR A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Intent to Limit Charges to Maximum Lawful Rate In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

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