Definition of Gross Fees Sample Clauses

Definition of Gross Fees. For the purposes of the ARP rating, Gross Fees means all professional fees of the insured firm for the latest complete financial year including remuneration, retained commission, and income of any sort whatsoever of the insured firm and notarial fees where a solicitor notary operates a notarial practice in conjunction with a solicitor‘s practice, but excluding only: (a) interest; (b) the reimbursement of disbursements; (c) any amount charged in respect of value added tax; (d) remuneration derived from any office excluded from the definition of private practice by these Rules; (e) dividends; (f) rents received by the insured firm; (g) income and capital profits from reserved funds established or other investments made by the Where the insured firm has been in existence for less than 12 months, the Gross Fees for ARP rating purposes shall be the insured firm‟s best estimate of the Gross Fees likely to be received during its first 12 months of trading. However, where the expiry date of the indemnity period precedes the completion date of the first 12 months of trading, the Gross Fees for ARP rating purposes shall be the insured firm‟s best estimate of the Gross Fees likely to be received during the period commencing with the starting date of the practice and ending with the expiry date of the indemnity period. In the event that the estimated amount of Gross Fees differs from the actual amount of Gross Fees for the relevant period, the ARP premium shall be adjusted by reference to the actual amount of Gross Fees.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Definition of Gross Fees. For the purposes of the Assigned Risks Pool rating, Gross Fees means all professional fees of the Insured Firm for the latest complete financial year including remuneration, retained commission, and income of any sort whatsoever of the Insured Firm and notarial fees where a solicitor notary operates a notarial Practice in conjunction with a solicitor‘s Practice, but excluding only:
Sample 1
Definition of Gross Fees. For the purposes of the ARP rating, Gross Fees means all professional fees of the insured firm for the latest complete financial year including remuneration, retained commission, and income of any sort whatsoever of the insured firm and notarial fees where a solicitor notary operates a notarial practice in conjunction with a solicitor’s practice, but excluding only:
Sample 1
Definition of Gross Fees. For the purposes of the Assigned Risks Pool rating, Gross Fees means all professional fees of the Firm for the latest complete financial year including remuneration, retained commission, and income of any sort whatsoever of the Firm and notarial fees where a solicitor notary operates a notarial Practice in conjunction with a solicitor’s Practice, but excluding only: (a) interest; (b) the reimbursement of disbursements; (c) any amount charged in respect of value added tax; (d) remuneration derived from any office excluded from the definition of private Practice by these Rules; (e) dividends; (f) rents received by the Firm; (g) income and capital profits from reserved funds established or other investments made by the Firm. Where the Firm has been in existence for less than 12 months, the Gross Fees for ARP rating purposes shall be the Firm’s best estimate of the Gross Fees likely to be received during its first 12 months of trading. However, where the expiry date of the Indemnity Period precedes the completion date of the first 12 months of trading, the Gross Fees for Assigned Risks Pool rating purposes shall be the Firm’s best estimate of the Gross Fees likely to be received during the period commencing with the starting date of the Practice and ending with the expiry date of the Indemnity Period. In the event that the estimated amount of Gross Fees differs from the actual amount of Gross Fees for the relevant period, the Assigned Risks Pool premium shall be adjusted by reference to the actual amount of Gross Fees.
Sample 1

Related to Definition of Gross Fees

  • Determination of Gross-Up Payment Subject to sub-paragraph (c) below, all determinations required to be made under this Section 6, including whether a Gross-Up Payment is required and the amount of the Gross-Up Payment, shall be made by the firm of independent public accountants selected by the Company to audit its financial statements for the year immediately preceding the Change in Control (the "Accounting Firm") which shall provide detailed supporting calculations to the Company and the Executive within 30 days after the date of the Executive's termination of employment. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group affecting the Change of Control, the Executive may appoint another nationally recognized accounting firm to make the determinations required under this Section 6 (which accounting firm shall then be referred to as the "Accounting Firm"). All fees and expenses of the Accounting Firm in connection with the work it performs pursuant to this Section 6 shall be promptly paid by the Company. Any Gross-Up Payment shall be paid by the Company to the Executive within 5 days of the receipt of the Accounting Firm's determination. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion that failure to report the Excise Tax on the Executive's applicable federal income tax return would not result in the imposition of a penalty. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it is possible that Gross-Up Payments which will not have been made by the Company should have been made ("Underpayment"). In the event that the Company exhausts its remedies pursuant to sub-paragraph (c) below, and the Executive is thereafter required to make a payment of Excise Tax, the Accounting Firm shall promptly determine the amount of the Underpayment that has occurred and any such Underpayment shall be paid by the Company to the Executive within 5 days after such determination. Amended and Restated Change in Control Agreement

  • SECTION I - DEFINITIONS As used in this Agreement, the following terms shall have the meanings ascribed herein unless otherwise stated or reasonably required by the Agreement, and other forms of any defined words shall have a meaning parallel thereto.

  • Definition of Overpayments An “Overpayment” means any funds that Xxxxxx receives or retains under any Federal health care program to which Xxxxxx, after applicable reconciliation, is not entitled under such Federal health care program.‌

  • Specific Definitions The following terms used in this Agreement shall have the following meanings:

  • Definition of Grievance A grievance shall be defined as any difference arising out of the interpretation, application, administration, or alleged violation of the Collective Agreement.

  • Employee Definitions A Regular Full-Time Employee is an employee who is employed on a full-time basis of 35, 37½, 40 or such other number of weekly hours as is recognized in the Collective Agreement as normal for a particular class of positions, for an indefinite period of time.

  • DEFINITIONS 1 SECTION 1.1 “Affiliate” 1 SECTION 1.2 “Agent” 1 SECTION 1.3 “American Depositary Share(s)” and “ADS(s)” 2 SECTION 1.4 “Article” 2 SECTION 1.5 “Articles of Association” 2 SECTION 1.6 “ADS Record Date” 2 SECTION 1.7 “Beneficial Owner” 2 SECTION 1.8 “Business Day” 2 SECTION 1.9 “Commission” 2 SECTION 1.10 “Company” 2 SECTION 1.11 “Corporate Trust Office” 2 SECTION 1.12 “Custodian” 2

  • Unallowable Costs Defined All costs (as defined in the Federal Acquisition Regulation, 48 C.F.R. § 31.205-47; and in Titles XVIII and XIX of the Social Xxxxxxxx Xxx, 00 X.X.X. §§ 0000-0000xxx-0 and 1396-1396w-5; and the regulations and official program directives promulgated thereunder) incurred by or on behalf of Pfizer, its present or former officers, directors, employees, shareholders, and agents in connection with: (1) the matters covered by this Agreement; (2) the United States’ audit(s), and any civil or criminal investigations of the matters covered by this Agreement; (3) Pfizer’s investigation, defense, and corrective actions undertaken in response to the United States’ audit(s) and any civil or criminal investigation(s) in connection with the matters covered by this Agreement (including attorney’s fees); (4) the negotiation and performance of this Agreement; (5) the payment Pfizer makes to the United States pursuant to this Agreement; and (6) the negotiation of, and obligations undertaken pursuant to the CIA to: (i) retain an independent review organization to perform annual reviews as described in Section III of the CIA; and (ii) prepare and submit reports to the OIG-HHS, are unallowable costs for government contracting purposes and under the Medicare Program, Medicaid Program, TRICARE Program, and Federal Employees Health Benefits Program (“FEHBP”) (hereinafter referred to as Unallowable Costs). However, nothing in paragraph 8.a.(6) that may apply to the obligations undertaken pursuant to the CIA affects the status of costs that are not allowable based on any other authority applicable to Pfizer.

  • Definition of Market Price The market price for any security shall be (i) the market price for that security quoted at the close of the trading day effective on the Bank Closing Date as published electronically by Bloomberg, L.P., or alternatively, at the discretion of the Receiver, by IDC/Financial Times (FT) Interactive Data; (ii) provided that if such market price is not available for such security, the Assuming Institution will submit a written purchase price bid for such security within three days of notification/bid request by the Receiver (unless a different time period is agreed to by the Assuming Institution and the Receiver) and the Receiver, in its sole and absolute discretion, will accept or reject each such purchase price bid; (iii) further provided that in the absence of an acceptable bid from the Assuming Institution, or in the event that a security is deemed essential to the Receiver as determined by the Receiver in its discretion (see Section 3.6 Retention or Repurchase of Assets Essential to the Receiver) such security shall not pass to the Assuming Institution and shall be deemed to be an excluded asset hereunder and listed on Schedule 3.5(l).

  • Definition of Good Reason For purposes hereof, “Good Reason” shall mean:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!