Calculation of insurance periods Sample Clauses

Calculation of insurance periods. (1) For the purpose of calculating an insurance period for entitlement to any benefit provided under the legislation of the Republic of Cyprus, a person shall be treated for each day of insurance completed under the legislation of the Republic of Serbia, as having insurable earnings under the legislation of the Republic of Cyprus equal to one seventh of the weekly amount of the basic insurable earnings and to that effect one year of insurance under the legislation of the Republic of Serbia shall be equivalent to 364 days. (2) For the purpose of calculating an insurance period for entitlement to any benefit provided under the legislation specified in paragraph 1 of Article 2 of this Agreement: 1. each week of insurance completed before 6 October 1980 under the legislation of the Republic of Cyprus shall be treated as a period of insurance of 7 days under the legislation of the Republic of Serbia. 2. the insurable earnings for any insurance period completed under the legislation of the Republic of Cyprus after 5 October 1980, shall be divided by the weekly amount of the basic insurable earnings applicable in the relevant contribution year. The figure so calculated, subject to a maximum of the number of weeks during which the person was subject to that legislation in that year, shall be treated as representing the number of weeks in the insurance period. Each such week shall be treated as equivalent to seven days insurance under the legislation of the Republic of Serbia. 3. each 364 days of insurance under the legislation of the Republic of Cyprus, shall be treated as equivalent to one year of insurance under the legislation of the Republic of Serbia. (3) Where it is not possible to determine accurately the periods of time in which certain insurance period were completed under the legislation of the Republic of Serbia, such periods shall be persumed not to overlap with insurance periods completed under the legislation of the Republic of Cyprus. SECTION 1 Old age, invalidity and death Article 15 Period of insurance shorter than 12 months (1) If the total insurance period which is completed under the legislation of one Contracting State is less than 12 months, that period of insurance shall not be taken into consideration for the payment of the benefit unless the legislation of that Contracting State provides for the payment of such benefit solely on that period of insurance. (2) Periods of insurance referred to in Paragraph 1 of this Article which are not take...
Sample 1

Related to Calculation of insurance periods

  • Termination of Insurance A. Your policy will lapse if you do not pay your premium when due. B. We may cancel your policy by mailing written notice to you at your most recent address in our records. We will send you this notice ten (10) days before we cancel your policy. C. You may cancel your policy at any time by notifying us in writing. D. We will refund unearned premiums on a prorated basis if either you or we cancel your policy.

  • Duration of Insurance Contribution An employee is eligible for School District contributions as provided in this Article as long as an employee is employed by the School District. Employees whose employment terminates during the school year will be eligible for insurance and district contributions to insurance through the end of the month in which they terminate provided they pay the employee portion of the insurance premium for that month. Otherwise, the employee’s insurance will terminate as of the last day of employment.

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Period of Insurance Period of insurance means the period shown as such on the e-certificate and validation card, which time is taken as Greenwich Mean Time unless otherwise stated.

  • Separation of Insureds All liability policies shall provide cross-liability coverage as would be afforded by the standard ISO (Insurance Services Office, Inc.) separation of insureds provision with no insured versus insured exclusions or limitations.

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Cancellation of Insurance There will be no cancellation or reduction of coverage of any required insurance without thirty (30) days’ written notice to the Contractor. Such notice may be sent by the Subcontractor’s insurance carrier, insurance broker, or the Subcontractor. Waiver of Subrogation. Subcontractor waives all rights against Contractor, Client, other subcontractors, and their agents.

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

  • Determination of Interest Periods The length of each Interest Period shall be as requested by the Borrowers under clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period; 3.3.2 the first Interest Period in respect of each subsequent Advance shall commence on its Drawdown Date and terminate simultaneously with the Interest Period which is then current for the Tranche under which the Advance is made available; 3.3.3 if any Interest Period would otherwise overrun a Repayment Date, then, in the case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part consisting of the balance of the relevant Tranche having an Interest Period ascertained in accordance with the other provisions of this clause 3; and 3.3.4 if the Borrowers fail to specify the length of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three months or such other period as complies with this clause 3.3.

  • Types of Insurance The types and amounts of insurance required to be maintained under this Article are as follows: (a) Commercial general liability insurance for bodily injury liability, including death, and property damage liability, incurred in connection with the performance of this Agreement, with minimum limits of $1,000,000 in respect of claims arising out of personal injury or sickness or death of any one person, $1,000,000 in respect of claims arising out of personal injury, sickness or death in any one accident or disaster, and $1,000,000 in respect of claims arising out of property damage in any one accident or disaster; and (b) Workers Compensation, Employers Liability, and Disability Benefits as required by New York State.