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.
Appears in 4 contracts
Samples: Assumption Agreement (Heritage Insurance Holdings, LLC), Assumption Agreement (Heritage Insurance Holdings, LLC), Assumption Agreement (United Insurance Holdings Corp.)
Assumed Premium. (i) CITIZENS shall pay by wire transfer to the Insurer the Assumed Premium multiplied by 1.000 minus the applicable Ceding Commission Rate 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 net of Ceding Commission within ten (10) days following the end of each month without interest.
Appears in 3 contracts
Samples: Assumption Agreement (United Insurance Holdings Corp.), Assumption Agreement (Homeowners Choice, Inc.), Assumption Agreement (United Insurance Holdings Corp.)
Assumed Premium. (i) CITIZENS shall pay by wire transfer to the Insurer the Assumed Premium multiplied by 1.000 1,000 minus the applicable Ceding Commission Rate 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 net of Ceding Commission within ten (10) days following the end of each month without interest.
Appears in 2 contracts
Samples: Assumption Agreement (Homeowners Choice, Inc.), Assumption Agreement (Homeowners Choice, Inc.)
