Assumed Premium Sample Clauses

Assumed Premium. (i) CITIZENS shall pay by wire transfer to the Insurer the Assumed Premium multiplied by 1.000 on or before the 20th day following the Assumption Date. Any subsequent amounts due to or from CITIZENS as a result of the monthly remittance and bordereau process shall be remitted to the appropriate Party within ten (10) days following the end of each month without interest.
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Assumed Premium. Assumed Premium minus the applicable Ceding Commission shall be reported via the Bordereau Process to the Insurer within 15 days following the end of each month. The net balance due either party shall be paid via wire transfer within 20 days after the close of the respective month.
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Assumed Premium. Citizens shall direct the release of the unearned premium on the Assumed Policies less all taxes, fees, or surcharges invoiced for collection on such policies as determined by Citizens (the “Assumed Premium”) within 15 days of the end of the last opt-out period relevant to the Policies. Upon receipt of Assumed Premiums from Citizens, Heritage shall hold 5% thereof (the “Holdback”) in a segregated account until a mutually-agreed true-up date anticipated to occur in December 2013, after which true up the Holdback funds shall be released in accordance herewith. This Holdback shall be used to secure Heritage’s performance of its obligations stated in this Agreement. If Heritage is in breach of this Agreement and such breach can be cured, Heritage shall have thirty days to cure. If the breach is not cured within the thirty-day period or if the breach cannot be cured, Heritage shall pay the Holdback to Citizens. Heritage shall not use the Holdback funds for any purpose until release unless agreed by Citizens. Citizens may audit this account at any time.
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Related to Assumed Premium

  • Post-Closing Payments (a) On the first anniversary of the Closing Date, Buyer will pay to Seller or, to the extent designated by Seller in writing and in accordance with Section 3.11, to the Members in accordance with their respective Pro Rata Percentages, the remaining 33.33% of the Closing Cash Consideration, as finally determined in accordance with Section 3.4 (the “Deferred Cash Payment”), via wire transfer to the Seller’s Bank Account or the Member Bank Accounts, as applicable.

  • REINSURANCE PREMIUM A. As premium for each excess layer of reinsurance coverage provided by this Contract, the Company shall pay the Reinsurer the greater of the following:

  • Assumed Liabilities Subject to the terms and conditions set forth herein, Buyer shall assume and agree to pay, perform and discharge only the following Liabilities of Seller (collectively, the “Assumed Liabilities”), and no other Liabilities:

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated.

  • Make-Whole Premium The Make-Whole Premium when due pursuant to the terms of Section 2.1.2(d); and

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Closing Payments At the Closing, Parent shall pay or cause to be paid the following amounts by wire transfers of immediately available funds:

  • Post-Closing Payment Payment to Shareholder of his portion of the Post-Closing Payment shall be made in the same manner as payments under the Additional Short-Term Note.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

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