Minimum Annual Premium. (a) AUL shall use commercially reasonable efforts to produce Covered Business for the Company that generates gross written premium in each calendar year at least equal to 10% of the average of the Company’s beginning and year-end book value of common equity plus preferred equity (the “Minimum Annual Premium”).
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Samples: And Restated Services Agreement (Watford Holdings Ltd.), Services Agreement (Watford Holdings Ltd.), Services Agreement (Watford Holdings Ltd.)
Minimum Annual Premium. (a) AUL AUI shall use commercially reasonable efforts to produce Covered Business for the Company that generates gross written premium Premium (but net of cessions under the ARC Quota Share Reinsurance Agreement) in each calendar year at least equal to 10% the Target Percentage of the average of the Company’s beginning and year-end book value of common equity plus preferred equity (the “Minimum Annual Premium”).
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Minimum Annual Premium. (a) AUL AUI shall use commercially reasonable efforts to produce Covered Business for the Company that generates gross written premium Premium (but net of cessions under the ARC Quota Share Reinsurance Agreement) in each calendar year at least equal to 10% the Target Percentage of the average of the Company’s 's beginning and year-end book value of common equity plus preferred equity (the “"Minimum Annual Premium”").
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