INSURANCE DEPOSIT Sample Clauses

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INSURANCE DEPOSIT. Agent agrees to pay to the insurance company the required deposit in order to obtain commercial rental insurance on owner’s vehicle. The insurance company will retain this deposit until the Motor Home is removed from service with Mountain West RV Rental, Inc.
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INSURANCE DEPOSIT. The hirer must make a refundable £1000.00 excess deposit at the time of collection. This must be paid by the bank and no cash deposits will be allowed. The hirer must be able to make this payment at the time of collection, no hires will be commenced until this payment has been made. The excess deposit is fully refundable upon the return of the motorhome without any damage. Motorhome Hire are not liable for any changes the insurer can make to the insurance excess amount for hirers who do not meet the criteria for hire but have been premised to hire a motorhome. The hirer must be able to provide their ● Driving license (Both card and online portions) ● Passport (alternative photo identification can be allowed if prior agreed with Motorhome Hire) ● 2 Utility bills no older than 30 days (Bank Statements, utility bills etc. will be allowed but mobile phone bills are not permissible. Unless stated by the hirer at the time of booking, Motorhome Hire will postulate that the hirer fits into these conditions. Motorhome Hire has the right to refuse to hand over a motorhome to any person who does not meet their criteria at the time of collection. In circumstances where the hirer(s) have not made Motorhome Hire aware that they do not meet the hire criteria and there are no alternative suitable drivers, then the hirer will be subject to the cancellation charges detailed in 5b. Motorhome Hire also reserves the right to refuse to hand over the vehicle to any hirer that they are of the reasonable opinion is not suitable to take charge of the motorhome. If the hirer meets the criteria for hire but Motorhome Hire deems them unsuitable, then the hire charges paid will be refunded in full. In this circumstance Motorhome Hire has no further liability. No one other than the driver(s) named in the insurance proposal form may drive the hired vehicle.
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INSURANCE DEPOSIT. Agent agrees to pay to the insurance company the required deposit in order to obtain commercial rental insurance on owner’s vehicle. The insurance company will retain this deposit until the Motor Home is removed from service with Mountain West RV Rental, Inc. Agent shall receive 50 % of the gross rental collections from the customer. Owner further agrees that agent may charge the rental customer for prepaid cleaning, housekeeping kits, or other such incidental items and agent shall be entitled to 100% of such revenue.
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INSURANCE DEPOSIT. Agent agrees to pay to the insurance company the required deposit required to obtain commercial rental insurance on owner’s vehicle. The insurance company will retain this deposit until the Motor Home is removed from service with Mid-Florida RV Rentals Inc.
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INSURANCE DEPOSIT. Agent agrees to pay to the insurance company the required deposit required to obtain commercial rental insurance on owner’s vehicle. The insurance company will retain this deposit until the Motor Home or travel trailer is removed from service with Southern Michigan Camper Rentals, LLC.
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Related to INSURANCE DEPOSIT

  • Tax and Insurance Escrow Fund (a) If (and for so long as) a Trigger Event shall have occurred and shall not have been cured by a Trigger Event Cure, on each Payment Date during such period, Borrower shall pay to Lender (or Servicer, as directed by Lender) an amount equal to (i) one-twelfth of the Taxes that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least thirty (30) days prior to their respective due dates, and (ii) one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate with Lender sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies (said amounts in (i) and (ii) above hereinafter called the “Tax and Insurance Escrow Fund”). Lender shall apply the Tax and Insurance Escrow Fund to payments of Taxes and Insurance Premiums required to be made by Borrower pursuant to Section 5.1.2 hereof and under the Mortgage Loan Agreement. In making any payment relating to the Tax and Insurance Escrow Fund, Lender may do so according to any ▇▇▇▇, statement or estimate procured from the appropriate public office (with respect to Taxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If the amount of the Tax and Insurance Escrow Fund shall exceed the amounts due for Taxes and Insurance Premiums pursuant to Section 5.1.2 hereof, provided no Event of Default shall have occurred and be continuing, then Lender shall return any excess to Borrower (or to Operating Company, if so directed by Borrower). In allocating such excess, Lender may deal with the Person shown on the records of Lender to be the owner of the Properties. If at any time Lender reasonably determines that the Tax and Insurance Escrow Fund is not or will not be sufficient to pay Taxes and Insurance Premiums by the dates set forth in (i) and (ii) above, Lender shall notify Borrower of such determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to the due date of the Taxes and/or thirty (30) days prior to expiration of the Policies, as the case may be. (b) Notwithstanding the foregoing, Borrower shall not be required to make any deposits into the Tax and Insurance Escrow Fund on account of Insurance Premiums if (and for so long as) Borrower shall maintain a blanket insurance policy in respect of the Properties that is in accordance with the provisions of Section 6.1(a) and otherwise satisfactory to Lender in all material respects. (c) Any amount remaining in the Tax and Insurance Escrow Fund following the occurrence of a Trigger Event Cure shall be returned to Borrower (or Operating Company, as directed by Borrower).

  • Insurance & Bonding The Subrecipient shall carry sufficient insurance coverage to protect contractor's assets from loss due to theft, fraud and/or undue physical damage, and as a minimum, shall purchase a blanket fidelity bond covering all employees in an amount equal to cash advances from the Grantee. The Subrecipient shall comply with the bonding and insurance requirements of 2 CFR 200.304.

  • Reinsurance Premiums A. The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article. B. The Reinsurance Premium rates and structure described above are subject to change in accordance with the criteria described in Article XV. GMDB AND EPB ------------ C. The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article. GMDB CESSION PREMIUM -------------------- D. The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II. E. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month. This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis. EPB CESSION PREMIUM ------------------- F. The EPB Reinsurance Premium is an asset-based premium rate, expressed in terms of basis points, and is defined in Exhibit II. G. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the average aggregate account value for the reporting month. This value shall be applied to the annualized EPB reinsurance premium rates per premium class on a 1/12th basis. The total EPB Cession Premium due for the month is the sum of the premiums calculated for each premium class. SPOUSAL CONTINUANCES -------------------- H. Spousal continuances will be covered under this Agreement to the extent that the surviving spouse satisfies the issue age restrictions and benefit limitations, as described in Schedule A, at time of continuance, and shall be deemed to be terminations followed by subsequent new issues for purposes of calculating Reinsurance Premiums. The new reinsurance premium rate applied shall be based off the attained age of the surviving spouse at the time of election of spousal continuance. After the termination of this Agreement for new cessions, a spousal continuation of a Reinsured Contract may be ceded to this Agreement in accordance with the procedure set forth in Article I, Paragraph D. GMIB ---- I. The GMIB cession premium ("GMIB Reinsurance Premium") is an asset-based premium rate, expressed in terms of basis points, as set forth in Exhibit II, and shall be calculated on an aggregate basis. J. The Cedent shall calculate the Reinsurer's Percentage of the greater of the average aggregate IBB value and the average aggregate account value for the reporting month. This value shall be applied to the annualized GMIB cession premium rates on a 1/12th basis.

  • Insurance Reserves Lender may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums shall remain Grantor's sole responsibility.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.