Allowances for Premium Taxes Sample Clauses

Allowances for Premium Taxes. The Reinsurer shall reimburse the Company for the state premium taxes payable by the Company for the Policies in an amount equal to the Reinsurance Premiums for such then current accounting period, as defined in Article 6.01, “Reinsurance Premiums”, multiplied by the applicable premium tax rate, as defined in Exhibit D, “State Premium Tax”, for each and every accounting period for the duration of this Agreement. The average state premium tax rate reflected in Exhibit D may be adjusted on occasion by reasonable agreement of both parties.
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Allowances for Premium Taxes. The Reinsurer shall reimburse the Company for the state premium taxes payable by the Company for the Policies in an amount equal to the Reinsurance Premiums for such then current accounting period, as defined in Article 6.01, “Reinsurance Premiums”, multiplied by the state specific tax, as defined in Exhibit G, for the insured’s state of residence, for each and every accounting period for the duration of this Agreement. Not later than thirty (30) calendar days after each calendar year-end falling within the term of this Agreement, the Company shall provide the Reinsurer with an accounting of its actual premium tax with respect to the Policies for such calendar year. Within fifteen (15) business days of receiving the accounting, if such accounting reflects amounts owed to the Reinsurer, the Company shall pay such amounts to the Reinsurer with the accounting. Otherwise, if it reflects amounts owed to the Company, the Reinsurer shall pay such amounts to the Company. In no event, will the Reinsurer reimburse more than the amount of premium taxes paid by the Company for the calendar year.
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Allowances for Premium Taxes. The Reinsurer shall reimburse the Company for state premium taxes payable by the Company with respect to the Policies. Each quarterly cash flow settlement will include a charge to the Reinsurer for state taxes attributable to such then current accounting period. The reimbursement for state premium taxes shall equal the Reinsurance Premium for each Policy, as defined in Article 6.01, "Reinsurance Premiums", for such then current accounting period, multiplied by the state specific tax applicable to each respective Policy, as defined in Exhibit D and as may be amended from time to time for each and every accounting period for the duration of this Agreement. In addition and (a) for a limited period of 18 months from the Effective Date of this Agreement and (b) to the extent that the municipal and / or other local premium taxes (hereafter, "Municipal Taxes") exceed 0.50% of the Reinsurance Premiums on any Policy during any accounting period, the Company reserves the right to require reimbursement from the Reinsurer for Municipal Taxes. Such reimbursement shall be equal to (A times B) less (C times D) less E where A =the cumulative Reinsurance Premiums from the Effective Date of this Agreement for Policies incurring Municipal Taxes; B =the applicable Municipal Tax rate for Policies incurring Municipal Taxes; C =the cumulative Reinsurance Premiums from the Effective Date of this Agreement; D =0.07%, representing the assumed expense allowance intended to compensate the Company for Municipal Tax expense; and E =zero in the first accounting period for which the Municipal Tax reimbursement is first paid by the Reinsurer and thereafter all payments for Municipal Taxes made by the Reinsurer in prior accounting periods. The Company will provide documentation acceptable to the Reinsurer for the Municipal Tax to be reimbursed. After such 18 month period, the Company shall no longer have the right to require Reinsurer reimbursement for Municipal Tax. Both the Company and the Reinsurer agree to review the risk exposure related to Municipal Taxes periodically throughout the life of this Agreement and may, with the mutual consent of both parties, amend this Article 7.06 as it relates to Municipal Tax reimbursement. Such amendment may lead to a reduction or extension in the stated period or some other remedy that results in equitable treatment for the Company and the Reinsurer as it relates to Municipal Taxes at the time of such amendment.
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Related to Allowances for Premium Taxes

  • Premium Taxes If premium taxes are incurred, they will be deducted from the contract accumulation, to the extent permitted by law.

  • Shift Premiums (a) All employees who are required by the Employer to rotate over two (2) or more shifts shall receive a shift premium of thirty cents ($0.30) for each hour worked on the afternoon or evening shifts only. Shift premium will not be paid for any hour in which an employee receives overtime premium and shift premium will not form part of the employee's straight time hourly rate. (b) In no event shall there be any pyramiding of benefits or payments.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Reinsurance Premiums A. The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article. B. The Reinsurance Premium rates and structure described above are subject to change in accordance with the criteria described in Article XV. GMDB AND EPB ------------ C. The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article. GMDB CESSION PREMIUM -------------------- D. The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II. E. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month. This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis. EPB CESSION PREMIUM ------------------- F. The EPB Reinsurance Premium is an asset-based premium rate, expressed in terms of basis points, and is defined in Exhibit II. G. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the average aggregate account value for the reporting month. This value shall be applied to the annualized EPB reinsurance premium rates per premium class on a 1/12th basis. The total EPB Cession Premium due for the month is the sum of the premiums calculated for each premium class. SPOUSAL CONTINUANCES -------------------- H. Spousal continuances will be covered under this Agreement to the extent that the surviving spouse satisfies the issue age restrictions and benefit limitations, as described in Schedule A, at time of continuance, and shall be deemed to be terminations followed by subsequent new issues for purposes of calculating Reinsurance Premiums. The new reinsurance premium rate applied shall be based off the attained age of the surviving spouse at the time of election of spousal continuance. After the termination of this Agreement for new cessions, a spousal continuation of a Reinsured Contract may be ceded to this Agreement in accordance with the procedure set forth in Article I, Paragraph D. GMIB ---- I. The GMIB cession premium ("GMIB Reinsurance Premium") is an asset-based premium rate, expressed in terms of basis points, as set forth in Exhibit II, and shall be calculated on an aggregate basis. J. The Cedent shall calculate the Reinsurer's Percentage of the greater of the average aggregate IBB value and the average aggregate account value for the reporting month. This value shall be applied to the annualized GMIB cession premium rates on a 1/12th basis.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • TAXES/FEES Contractor promptly shall pay all applicable taxes on its operations and activities pertaining to this Contract. Failure to do so shall constitute breach of this Contract. Unless otherwise agreed, Purchaser shall pay applicable sales tax imposed by the State of Washington on purchased Goods and/or Services. Contractor’s invoices shall separately state (a) taxable and non-taxable charges and (b) sales/use tax due by jurisdiction. In regard to federal excise taxes, Contractor shall include federal excise taxes only if, after thirty (30) calendar days written notice to Purchaser, Purchase has not provided Contractor with a valid exemption certificate from such federal excise taxes.

  • Overtime and Premium Pay A nurse shall be paid at the rate of one and one- half (1½) times the nurse’s regular hourly rate of pay for all hours worked in any one category listed below, including statutory overtime pay under 9.4.1 or premium pay under 9.4.2 through

  • Ad Valorem Taxes Prior to delinquency, Tenant shall pay all taxes and assessments levied upon trade fixtures, alterations, additions, improvements, inventories and personal property located and/or installed on or in the Premises by, or on behalf of, Tenant; and if requested by Landlord, Tenant shall promptly deliver to Landlord copies of receipts for payment of all such taxes and assessments. To the extent any such taxes are not separately assessed or billed to Tenant, Tenant shall pay the amount thereof as invoiced by Landlord.

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Lease Payments Tenant agrees to pay to Landlord as rent for the Premises the amount of dollars ($ ) each month in advance on the 1st day of each month at month of , 20 or at any other address designated by Landlord. If the Lease Term does not start on the 1st day of the month or end on the last day of a month, the first and last month’s rent will be prorated accordingly.

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