Federal Excise Tax. A. The 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 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.
Appears in 10 contracts
Samples: Excess Catastrophe Reinsurance Contract (Safety Insurance Group Inc), Reinsurance Contract (James River Group, INC), Catastrophe Workers’ Compensation Reinsurance Contract (Amcomp Inc /Fl)
Federal Excise Tax. A. The 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) 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 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.
Appears in 9 contracts
Samples: Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp), Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp), Reinsurance Contract (Philadelphia Consolidated Holding Corp)
Federal Excise Tax. A. The Reinsurer has agreed to allow allow, for the purpose of paying the Federal Excise Tax the applicable percentage 1% 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 hereunder, the Reinsurer will shall deduct the applicable percentage 1% from the return premium payable hereon and the Company or its agent should take steps to recover the tax from the United States Government.
Appears in 2 contracts
Samples: Quota Share Treaty (Amerinst Insurance Group LTD), Quota Share Treaty (Amerinst Insurance Group LTD)
Federal Excise Tax. A. The 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) 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 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.. (LOGO)
Appears in 2 contracts
Samples: Reinsurance Contract (Philadelphia Consolidated Holding Corp), Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)
Federal Excise Tax. A. The Reinsurer has agreed to Reinsurers will 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 Service Code) to the extent such premium is subject to the Federal Excise Tax.
B. such tax. In the event of any return of premium becoming due hereunder premium, the Reinsurer Reinsurers will deduct the applicable aforesaid percentage from the return premium payable hereon hereon, and the Company or its agent should take steps to will recover the such tax from the United States Government.
Appears in 1 contract
Federal Excise Tax. A. The 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) 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 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.
Appears in 1 contract
Samples: Reinsurance Contract (Philadelphia Consolidated Holding Corp)
Federal Excise Tax. A. The 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) Code to the extent such premium is subject to the Federal Excise Tax.. 06\M2U1137 (XXXXXXXX LOGO)
B. In the event of any return of premium becoming due hereunder the 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.
Appears in 1 contract
Samples: Reinsurance Contract (Philadelphia Consolidated Holding Corp)
Federal Excise Tax. A. The Reinsurer has agreed to Reinsurers will 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.. 19\AQUA1007Page 17 AONEmpower Results®
B. In the event of any return of premium becoming due hereunder premium, the Reinsurer Reinsurers will deduct the applicable aforesaid percentage from the return premium payable hereon and the Company or its agent should take steps to will recover the such tax from the United States Government.
Appears in 1 contract
Samples: Reinsurance Contract (Prudential Variable Contract Account Gi-2)
Federal Excise Tax. A. (a) The Reinsurer has agreed agrees 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. (b) In the event of any return of premium becoming due hereunder the Reinsurer will deduct the applicable percentage from the return premium payable hereon and the Company Reinsured or its agent should take steps to recover is responsible for recovering the tax from the United States Government.
Appears in 1 contract
Samples: Reinsurance Agreement (Superior National Insurance Group Inc)
Federal Excise Tax. A. The 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 et seq. of the U.S. Internal Revenue CodeCode of 1986, as amended, and all related IRS Rulings) 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 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.
Appears in 1 contract
Samples: Brokerage Multi Line Reinsurance Agreement (Tower Group International, Ltd.)
Federal Excise Tax. A. The Reinsurer has agreed to Reinsurers will 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.. 16\AQUA1007 Page 15
B. In the event of any return of premium becoming due hereunder premium, the Reinsurer Reinsurers will deduct the applicable aforesaid percentage from the return premium payable hereon and the Company or its agent should take steps to will recover the such tax from the United States Government.
Appears in 1 contract
Samples: Reinsurance Contract (Prudential Variable Contract Account Gi-2)
Federal Excise Tax. A. This Article applies if the Reinsurer is not exempt from the Federal Excise Tax.
B. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage specified by United States law 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. C. In the event of any return of premium becoming due hereunder hereunder, the Reinsurer will shall deduct the applicable percentage specified by United States law from the amount of the return premium payable hereon and the Company or its agent should take steps to recover the tax Tax from the United States Government.
Appears in 1 contract
Samples: Quota Share Retrocession Contract (Scpie Holdings Inc)
Federal Excise Tax. A. The 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) 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 here under the 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.
Appears in 1 contract
Samples: Excess Catastrophe Reinsurance Contract (Homeowners Choice, Inc.)
Federal Excise Tax. A. The 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 (XXXXXXXX LOGO) the Internal Revenue Code) 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 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.
Appears in 1 contract
Samples: Excess Catastrophe Reinsurance Contract (Philadelphia Consolidated Holding Corp)
Federal Excise Tax. A. The Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax the applicable percentage 1.0% 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 Reinsurer will deduct the applicable percentage 1.0% from the amount of the return premium payable hereon and the Company or its agent should take steps to recover the tax Tax from the United States Government.
Appears in 1 contract
Samples: Healthcare Liability Quota Share Reinsurance Contract (Allied World Assurance Co Holdings LTD)
Federal Excise Tax. A. The If the Reinsurer has agreed is subject to allow the Federal Excise Tax, the Reinsurer agrees to allow, for the purpose of paying the Federal Excise Tax the applicable percentage Tax, up to I % 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 hereunder, the Reinsurer will deduct from the applicable percentage from amount of the return premium payable hereon the same percentage as it allowed, and the Company or its agent agents should take steps to recover the tax Tax from the United States GovernmentU.S.Government.
Appears in 1 contract
Samples: Specific Excess Reinsurance Contract (Miix Group Inc)