Administration Expense Allowance Sample Clauses
The Administration Expense Allowance clause defines a specific amount or percentage that a party, typically the administrator or trustee, is permitted to claim as reimbursement for administrative costs incurred during the execution of an agreement or management of an estate. This allowance may cover expenses such as office supplies, postage, or staff time, and is often calculated based on the total value of assets managed or a fixed schedule outlined in the contract. Its core practical function is to ensure that the party responsible for administration is fairly compensated for their efforts and out-of-pocket costs, thereby promoting efficient management and reducing disputes over administrative reimbursements.
Administration Expense Allowance. The Reinsurer shall reimburse the Company for the expenses it incurs from the Policies, multiplied by the Quota Share Percentage Reinsured. Such amount shall be as defined in Schedule E, “Expense Allowances”. Schedule E charges shall remain in effect for the first _______ (__) years of this Agreement, but may be renegotiated at _______ (__) year intervals thereafter.
Administration Expense Allowance. The Reinsurer shall reimburse the Company for the expenses it incurs from the on-going cost of administration on the Policies. Such amount shall be as defined in Schedule D. Schedule D charges shall remain in effect for the first three (3) years of this Agreement, but may be renegotiated at three (3) year intervals thereafter.
Administration Expense Allowance. The Reinsurer shall reimburse the Company for the expenses it incurs from the on-going costs of administration on the portion of the policies reinsured hereunder. Because the Reinsurer has the right to expect the Company to maintain reasonable controls over such expenses, in effect as his administrative agent for such policies, the Reinsurer will only reimburse these costs on a formula approach that approximates the actual reasonable administrative expenses of the Company. Such amounts shall be defined as: three and one-half percent (3.5%) of the statutory reserve on the portion of the policies reinsured hereunder as of the beginning of the accounting period for which this calculation is being made plus any actual state, county or parish premium taxes paid by the Company on the portion of the premiums reinsured hereunder.