Commercial Fund Sample Clauses

Commercial Fund. (i) Proportional: The Company will cede to FCIC from zero to sixty-five percent (65%) of total net book premium and associated liability for ultimate net losses on eligible livestock price insurance contracts, as designated in its Plan of Operations for the reinsurance year. Such percentage designation must be made in five percent (5%) increments. (ii) Non-Proportional: Retained premium and associated liability from eligible livestock price insurance contracts designated to the Commercial Fund are subject to the following two layers of stop-loss coverage and premium:
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Commercial Fund a. Proportional: The Company will cede to FCIC from zero to fifty percent (50%) of total net book premium and associated liability for ultimate net losses on eligible livestock price insurance contracts, as designated in its Plan of Operations for any reinsurance year. Such percentage designation must be made in five percent (5%) increments.
Sample 1Sample 2Sample 3
Commercial Fund a. Any eligible crop insurance contract reinsured under this Agreement not included in designations to the Assigned Risk Fund or the Developmental Fund will be included in the Commercial Fund. b. The Company must retain at least fifty percent (50%) of the net book premium and associated liability for ultimate net losses on eligible crop insurance contracts designated to the Commercial Fund within each state. The Company may retain a greater percentage of the net book premiums and associated liability for ultimate net losses within each state whenever it designates a percentage greater than fifty percent (50%) in its Plan of Operation for any reinsurance year. Such percentage designations must be made in five percent (5%) increments. FCIC will assume the liability for ultimate net losses not retained by the Company within each state in exchange for an equal percentage of the associated net book premiums included in the Commercial Fund in that state.
Sample 1
Commercial Fund. After the retentions and assignments under paragraph (4), the amount of underwriting loss retained by the Company for the Commercial Fund will be calculated within each State as the sum of the following: (i) For that portion of the underwriting loss amount for which the Ccompany’s loss ratio exceeds 100 percent and is less than or equal to 160 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following: (I) Iits retained net book premium; (II) Tthe lesser of the Company’s actual loss ratio or 160 percent, minus 100 percent; and (III) Tthe following percentage for the applicable State Group: State Group 1 65.0 percent State Groups 2 and 3 42.545.0 percent (ii) For that portion of the underwriting loss amount for which the Ccompany’s loss ratio exceeds 160 percent and is less than or equal to 220 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following: (I) Iits retained net book premium; (II) Tthe lesser of the Company’s actual loss ratio or 220 percent, minus 160 percent; and (III) Tthe following percentage for the applicable State Group: State Group 1 45.0 percent State Groups 2 and 3 20.0 percent (iii) For that portion of the underwriting loss amount for which the Ccompany’s loss ratio exceeds 220 percent and is less than or equal to 500 percent, the Company shall retain an amount of the underwriting loss equal to the product of the following: (I) Iits retained net book premium; (II) Tthe lesser of the Company’s actual loss ratio or 500 percent, minus 220 percent; and (III) Tthe following percentage for the applicable State Group: State Group 1 10.0 percent State Groups 2 and 3 5.0 percent (iv) FCIC shallwill assume 100 percent of that portion of the underwriting loss amount for by which the Company’s loss ratio exceeds 500 percent.
Sample 1

Related to Commercial Fund

  • FEMA Fund Certifications Submission of this proposal is Vendor’s certification that Vendor agrees to this term. Vendor certifies that IF and when Vendor accepts a TIPS purchase paid for in full or part with FEMA funds, Vendor certifies that: (1) Vendor agrees to provide the TIPS Member, the FEMA Administrator, the Comptroller General of the United States, or any of their authorized representatives access to and rights to reproduce any books, documents, papers, and records of the Contractor which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts, and transcriptions. The Vendor agrees to provide the FEMA Administrator or an authorized representatives access to construction or other work sites pertaining to the work being completed under the contract. Vendor acknowledges and agrees that no language in this contract or the contract with the TIPS Member is intended to prohibit audits or internal reviews by the FEMA Administrator or the Comptroller General of the United States.

  • HUMANITY FUND The Company agrees to deduct on a weekly basis the amount of forty (40) cents per week from the wages of all employees in the bargaining unit for all hours worked and, prior to the 15th day of the month following, to pay the amount so deducted to the "Humanity Fund" and to forward such payment to United Steelworkers National Office, 000 Xxxxxxxx Xxxxxx Xxxx, Xxxxxxx, Xxxxxxx, X0X 0X0 and to advise in writing both the Humanity Fund at the aforementioned address and the local union that such payment has been made, the amount of such payment and the names of all employees in the bargaining unit on whose behalf such payment has been made. All employee deductions are voluntary and may be cancelled upon request.

  • General Account All assets of SBL other than those allocated to the Separate Account or any other separate account of SBL. GUARANTEE PERIOD Current Interest, if declared, is fixed for rolling periods of one or more years, referred to as Guarantee Periods. SBL may offer Guarantee Periods of different durations. The Guarantee Period that applies to any Fixed Account Contract Value:

  • Commercial Automobile Liability Where the services to be provided under this Contract involve or require the use of any type of vehicle by Contractor, Contractor shall provide comprehensive business or commercial automobile liability coverage, including non-owned and hired automobile liability, in the amount of $1,000,000.00.

  • INDUSTRY FUND a. The Employer shall contribute and remit such contributions to the Union’s Industry Fund as specified in Schedule “A” for each hour worked by each employee covered by this Agreement. b. The Industry Fund shall be used by the Union for the promotion of the industry, to promote unionized construction, and for other purposes as determined by the Union to strengthen the position of the Union and its members in the industry. c. The total amount owing shall be remitted monthly to the Union by the 15th of the month following the month for which the contributions were made. Contributions shall be itemized separately on the remittance form.

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

  • Economic Risk The Purchaser realizes that the purchase of the ------------- Stock will be a highly speculative investment and involves a high degree of risk, and the Purchaser is able, without impairing financial condition, to hold the Stock for an indefinite period of time and to suffer a complete loss on the Purchaser's investment.

  • Excess Public Liability Insurance over and above the Employers’ Liability Commercial General Liability and Comprehensive Automobile Liability Insurance coverage, with a minimum combined single limit of Twenty Million Dollars ($20,000,000) per occurrence/Twenty Million Dollars ($20,000,000) aggregate.

  • University Liability The University is not responsible for any damage or injury to the Student or any other individual or property in University Housing beyond its control. The Student agrees that the University is not responsible for any damage or injury from any act of another resident or any other person. The Student agrees that the University is not responsible or liable to the Student for any personal property that is lost, stolen, or missing from University Housing. The Student shall be responsible for having adequate and appropriate insurance (i.e., homeowners supplemental insurance and/or renter’s insurance) to protect against any loss or damage to the Student’s personal property, University property and/or University Housing (e.g. fire caused by student).

  • Investment Risk Buyer understands that its investment in the securities constitutes high risk investment, its investment in the Securities involves a high degree of risk, including the risk of loss of the Buyer’s entire investment.

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