Federal Excise Tax. (This Article applies only to those Reinsurers domiciled outside the United States of America, excepting Reinsurers exempt from the Federal Excise Tax.) The Reinsurers have agreed to allow for the purpose of paying Federal Excise Tax 1% of the premium payable hereon to the extent such premium is subject to Federal Excise Tax. In the event of any return of premium becoming due hereon the Reinsurers will deduct 1% from the amount of the return and the Company or its Agent should take steps to recover the tax from the United States Government.
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Samples: Reinsurance Agreement (Merchants Group Inc), Hci Agreement (Zenith National Insurance Corp), Interests and Liabilities Agreement (Paula Financial)
Federal Excise Tax. (This Article applies only to those Reinsurers reinsurers domiciled outside of the United States of America, excepting Reinsurers America who are not exempt from the Federal Excise Tax.) The Reinsurers have Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax 1% the percentage specified by United States law of the premium payable hereon to the extent such premium is subject to Federal Excise Tax. In the event of any return of premium becoming due hereon hereunder, the Reinsurers Reinsurer will deduct 1% the percentage specified by United States law from the amount of the return and the Company or its Agent agent should take steps to recover the tax Tax from the United States Government.
Appears in 2 contracts
Samples: Special Excess of Loss Reinsurance Agreement (Mbia Inc), Second Special Per Occurrence Excess of Loss Reinsurance Agreement (Mbia Inc)
Federal Excise Tax. (This Article applies only If the Reinsurers are subject to those Reinsurers domiciled outside the United States of America, excepting Reinsurers exempt from the Federal Excise Tax.) The , the Reinsurers have agreed agree to allow allow, for the purpose of paying Federal Excise Tax Tax, up to 1% of the premium payable hereon to the extent such premium is subject to Federal Excise the Tax. In the event of any return of premium becoming due hereon hereunder, the Reinsurers will deduct 1% from the amount of the return premium 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 U.S. Government.
Appears in 2 contracts
Samples: Miix Group Inc, Miix Group Inc
Federal Excise Tax. (This Article applies only to those Reinsurers reinsurers, domiciled outside the United States of America, excepting Reinsurers who are not exempt from the Federal Excise Tax.) The Reinsurers have Reinsurer has agreed to allow for the purpose of paying the Federal Excise Tax 1% the percentage specified by United States law of the premium payable hereon to the extent such premium is subject to Federal Excise Tax. In the event of any return of premium becoming due hereon hereunder, the Reinsurers will Reinsurer shall deduct 1% the percentage specified by United States law from the amount of the return and the Company or its Agent agent should take steps to recover the tax Tax from the United States Government.
Appears in 2 contracts
Samples: Interests and Liabilities Agreement (Direct General Corp), Interests and Liabilities Agreement (Direct General Corp)
Federal Excise Tax. (This Article applies only to those Reinsurers domiciled outside the United States of America, excepting Reinsurers exempt from the Federal Excise Tax.) The Reinsurers have agreed to allow for the purpose of paying Federal Excise Tax 1% of the premium payable hereon to the extent such premium is subject to Federal Excise Tax. In the event of any return of premium becoming due hereon the Reinsurers will deduct 1% from the amount of the return and the Company or its Agent should take steps to recover the tax from the United States Government.
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