Federal Excise Tax. (Applicable to those subscribing reinsurers who are domiciled outside the United States of America, excepting subscribing reinsurers exempt from Federal Excise Tax.) A. The subscribing reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax. B. In the event of any return of premium becoming due hereunder the subscribing reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government. Casualty Catastrophe XOL Contract 15
Appears in 4 contracts
Samples: Casualty Catastrophe Excess of Loss Reinsurance Contract, Interests and Liabilities Agreement, Interests and Liabilities Agreement (Amerisafe Inc)
Federal Excise Tax. (Applicable to those subscribing reinsurers who are domiciled outside the United States of America, excepting subscribing reinsurers exempt from Federal Excise Tax.)
A. The subscribing reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax.
B. In the event of any return of premium becoming due hereunder the subscribing reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government. Casualty Catastrophe XOL Contract 15.
Appears in 2 contracts
Samples: Casualty Catastrophe Excess of Loss Reinsurance Contract (Amerisafe Inc), Interests and Liabilities Agreement (Amerisafe Inc)
Federal Excise Tax. (Applicable to those subscribing reinsurers who are domiciled outside the United States of America, excepting subscribing reinsurers exempt from Federal Excise Tax.,)
A. The subscribing reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage of the premium payable hereon (as imposed under Section 4371 of the Internal Revenue Code) to the extent such premium is subject to the Federal Excise Tax.
B. In the event of any return of premium becoming due hereunder the subscribing reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government. Casualty Catastrophe XOL Contract 15.
Appears in 2 contracts
Samples: Reinsurance Agreement, Interests and Liabilities Agreement (Amerisafe Inc)
