INSURANCE REFUND Sample Clauses

INSURANCE REFUND. At the Effective Time, the Surviving Partnership shall cause the cancellation of all insurance maintained by the Merged Partnership and thereafter shall diligently seek to obtain such refunds as may be due on account of such cancellation. Upon receipt of such refunds, the Surviving Partnership shall pay them over to the General Partner for distribution to the former partners of the Merged Partnership.
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INSURANCE REFUND. Any amount of money returned from the medical insurance carrier to the District shall be refunded on a pro rata basis to each member.
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INSURANCE REFUND. On the Closing Date, Home Properties shall cause the cancellation of all insurance maintained by the Company and thereafter shall diligently seek to obtain such refunds as may be due on account of such cancellation. Upon receipt of such refunds, Home Properties shall pay them over to the Partnership as former member of the Company for distribution to the partners of the Partnership.
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INSURANCE REFUND. In the event of any refunds by insurance companies of premiums paid by a teacher on a teacher related policy, such refund shall either be paid to the teacher who paid the premiums on a pro-rata basis or be applied to adjusted future premium payments on such insurance plan.
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INSURANCE REFUND. Within thirty (30) days of the Closing, Seller shall pay to Buyer an amount equal to the portion of the premiums and other amounts paid for all forms of insurance maintained by Seller on behalf of, or for the benefit of, any of the Acquired Companies on their business or employees which is attributable to periods commencing immediately after the Closing Date.
Sample 1
INSURANCE REFUND. Seller hereby covenants to Buyer that within one day after the Closing Date, Seller will fax or email a letter, substantially in the form attached hereto as Exhibit A (the “Insurance Refund Letter”), to each insurer listed on Section 4.19 of the Disclosure Letter, instructing such insurer to cancel all forms of insurance maintained by Seller on behalf of, or for the benefit of, any of the Acquired Companies on their business or employees and to remit all refunds on such insurance which are attributable to periods commencing immediately after the Closing Date directly to Buyer. Seller covenants that it shall not rescind, amend or otherwise modify the instructions contained in the Insurance Refund Letter and in the event an insurer sends any such payment to Seller, Seller shall immediately, no later than one business day following Seller’s receipt of such payment, forward such payment to Buyer via overnight or same day delivery. For the avoidance of doubt, Seller shall not be required to pay to Buyer such refunds on insurance which are received by Buyer directly pursuant to this paragraph.
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INSURANCE REFUND. Unearned premiums on policies of insurance purchased by Company before the Closing Date providing such unearned premiums are not used in determining Net Working Capital under Article 3 hereof.
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Related to INSURANCE REFUND

  • 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 Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • Insurance Report As soon as practicable and in any event by the last day of each Fiscal Year, a report in form and substance satisfactory to Administrative Agent outlining all material insurance coverage maintained as of the date of such report by Holdings and its Subsidiaries and all material insurance coverage planned to be maintained by Holdings and its Subsidiaries in the immediately succeeding Fiscal Year;

  • Insurance Required The Engineer shall secure the insurance specified below. The insurance shall be issued by insurance company(s) acceptable to the City and may be in a policy or policies of insurance, primary or excess. Certificates of all required insurance including any policy endorsements shall be provided to the City prior to or upon the execution of this Agreement.

  • Reinsurance Premiums A. Computation Reinsurance Premiums under this Agreement shall be calculated as described in Exhibit I.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • R&W Insurance Policy Purchaser shall use its reasonable best efforts to bind the R&W Insurance Policy at or prior to the Closing. Purchaser shall use reasonable best efforts to take all actions necessary to complete the applicable conditions in the conditional binder (other than the condition that the Closing has occurred, to which this sentence does not apply) to the R&W Insurance Policy within the times set forth therein to maintain the R&W Insurance Policy in full force and effect. Following the final issuance of the R&W Insurance Policy, Purchaser agrees to use reasonable best efforts to keep the R&W Insurance Policy in full force and effect for the policy period set forth therein. Purchaser shall provide a copy of the R&W Insurance Policy to Seller upon request. Purchaser agrees that the R&W Insurance Policy shall expressly exclude any right of subrogation against Seller and its Affiliates and their respective officers, directors and employees (except in the case of Fraud), and neither Purchaser nor its Affiliates shall amend or waive such subrogation provisions without Seller’s prior written consent. The Parties acknowledge that Purchaser obtaining the R&W Insurance Policy is a material inducement to Seller entering into the transactions contemplated by this Agreement, and Seller is relying on Purchaser’s covenants and obligations set forth in this Section 5.15(a). The R&W Insurance Policy may not be amended or waived by Purchaser or its Affiliates in any manner that is adverse to Seller or any of its Affiliates without Seller’s prior written consent. At or promptly following the Closing, Seller shall deliver to Purchaser or its Representatives, as reasonably requested by Purchaser, a digital copy of all documents and other information uploaded to the virtual data room established by Seller and its Representatives and to which Purchaser and its Representatives have been granted access as part of their due diligence of the transactions contemplated hereby (the “Data Room”).

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

  • Life Insurance Policy In addition to the insurance coverage contemplated by Section 4(e), during the Employment Term the Company shall maintain in effect term life insurance coverage for the Executive with a death benefit of at least Five Hundred Thousand Dollars ($500,000), subject to the Executive's insurability at standard rates and with the beneficiary or beneficiaries, thereof designated by the Executive. Notwithstanding Section 9 of this Agreement, such life insurance policy or policies may be assigned to a trust for the benefit of any beneficiary designated by the Executive.

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