Original Gross Premium definition

Original Gross Premium means the total of the gross premiums written, plus deposits and additions, less cancellations and returns, by the Company on business covered hereunder during the period for which calculations are being made, less deductions for reinsurance premiums which inure to the benefit of the Reinsurer. The Company will be permitted to purchase facultative reinsurance on any risk it desires and to deduct the premium thereof.
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Original Gross Premium as used in this Agreement shall mean the gross written premium collected by the Reinsured for the Policies less returns and cancellations.
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Examples of Original Gross Premium in a sentence

  • The Reinsurer agrees to allow the Company a commission allowance of 28.5% on the Original Gross Premium ceded under this Agreement.

  • The Company shall pay to the Reinsurer 10% of the Company's Original Gross Premium for policy limits ceded for each new or renewal policy written during the period this Agreement is in effect, in respect to its net retained liability on the business covered hereunder.

  • The Company shall pay to the Reinsurer 10% of the Company's Original Gross Premium for up to $1,000,000 of policy limits ceded for each new or renewal policy written during the period this Agreement is in effect, in respect to its net retained liability on the business covered hereunder.

  • Original net premium is the Original Gross Premium of the Individual Policy as determined and agreed by Reinsurers, less 10%.

  • The Company shall pay to the Reinsurer 10% of the Company’s Original Gross Premium for up to $1,000,000 of policy limits ceded for each new or renewal policy written during the period this Agreement is in effect, in respect to its net retained liability on the business covered hereunder.

  • The following IBNR factors will be incorporated in respect of each Agreement Year: 15% of Original Gross Premium in respect of the Agreement Year expiring 12 months prior to the date of calculation.

  • The Company shall pay to the Reinsurer 10% of the Company’s Original Gross Premium for policy limits ceded for each new or renewal policy written during the period this Agreement is in effect, in respect to its net retained liability on the business covered hereunder.

  • The premium payable to the Reinsurer ("Ceded Premium") shall be the Reinsurer's Quota Share of the Original Gross Premium, as defined herein, for the Policies.

  • Original Net Premium = Original Gross Premium Less 30% Ceding Commission.

Related to Original Gross Premium

  • Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Premium Due Date means date specified in the Schedule on which the Instalment Premium will become due.

  • Buyers Premium means a Commission payable by The Buyer to the Auctioneer. The Auctioneer, when acting as Agent for The Seller, may also receive

  • Original Value The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated.

  • Original Lower-Tier Principal Amount With respect to any Class of Uncertificated Lower-Tier Interest, the initial principal amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

  • Original Amount with respect to an Equipment Note, means the stated original principal amount of such Equipment Note and, with respect to all Equipment Notes, means the aggregate stated original principal amounts of all Equipment Notes.

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Original Assessed Value means zero dollars ($284,400), the taxable assessed value of the Developer Property as of March 31, 2020 (April 1, 2019), provided, however that in the event that a City revaluation occurs and results in an increase or decrease of any Developer Property that was included as a part of the initial Original Assessed Value as of April 1, 2019, the Original Assessed Value then in effect shall be increased or decreased by a like amount and such adjusted Original Assessed Value shall thereafter (subject to another City revaluation) be the Original Assessed Value for the purposes of this Agreement.

  • Cumulative Insurance Payments As defined in the Series Supplement.

  • First Amendment Date means February 21, 2019.

  • Net Finance Charges means, for the Reference Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Reference Period to any member of the Group and any interest income relating to cash or cash equivalent investment.

  • Effective Date of Coverage means the date of commencement of Coverage in respect of a Life Insured under the Policy pursuant to the provision on Commencement of Coverage.

  • Original Principal Amount means $296,000,000 for the Class A-1 Notes, $330,000,000 for the Class A-2a Notes, $100,000,000 for the Class A-2b Notes, $428,000,000 for the Class A-3 Notes and $96,000,000 for the Class A-4 Notes.

  • Net Earned Premium as used herein is defined as gross earned premium of the Company for the classes of business reinsured hereunder, less the earned portion of premiums ceded by the Company for reinsurance which inures to the benefit of this Contract and less dividends paid or accrued.

  • Original RRA shall have the meaning given in the Recitals hereto.

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

  • Second Amendment Date the date of effectiveness of the Second Amendment, dated July 15, 2016, by and among the Borrower, the other Loan Parties thereto, Holdings, the Lenders party thereto and the Administrative Agent.

  • Original Notional Amount With respect to the Class X-1 Notional Amount and Class X-2 Notional Amount, the initial Notional Amount thereof as of the Closing Date, as specified in the Preliminary Statement.