PAYMENT OF PREMIUM AND FEES Sample Clauses

PAYMENT OF PREMIUM AND FEES. If your initial premium payment is by check, draft, electronic funds transfer, or similar form of remittance, coverage under this policy is conditioned on payment to us by the financial institution. If the financial institution upon presentment does not honor the check, draft, electronic funds transfer, or similar form of remittance, this policy may, at our option, be deemed void from its inception. This means we will not be liable under this policy for any claims or damages that would otherwise be covered if the check, draft, electronic funds transfer, or similar form of remittance had been honored by the financial institution. Any action by us to present the remittance for payment more than once shall not affect our right to void this policy. In addition to premium, fees may be charged on your policy. We may charge fees for installment payments, late payments, and other transactions. Payments made on your policy will be applied first to fees, then to premium due.
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PAYMENT OF PREMIUM AND FEES. (i) As this Policy is a Whole Turnover Policy, it shall apply to all shipments (save and except shipments exempted or excluded) made by you during the period of cover and the entire amount of premium falls due and payable forthwith upon our acceptance of your Proposal for issue of the Policy, as per the rates set out in the Schedule or as the case may be, at such other rates for the time being in force taking into account Discounts, Bonus-Malus etc. as applicable, on the Aggregate Loss Limit (ALL) approved under this Policy. However, upon your request we may agree for a deferred payment of premium in such number of installments (specified in the Schedule and payable on or before the respective dates) and subject to such conditions as we may, at our sole discretion, stipulate. (ii) We acknowledge having received together with the Proposal the amount of Proposal Processing Fees and the Premium specified in the Schedule from you and to receive the installments, if any, on or before the respective dates. In addition, you will pay to us such other (iii) In the event of you preferring a claim under this Policy at any time before the full amount of premium due under the Policy is fully paid, any agreement allowing you installment facility for payment of premium shall stand withdrawn with immediate effect and the whole of the balance amount of premium remaining unpaid shall forthwith become payable by you. No claim under the Policy will be registered or processed by us until the whole of the premium due under the Policy is paid in full. (iv) In the event of inadequacy of sufficient credit balance in the Deposit Premium Account due to delay in payment of premium (where installment facility was extended), no cover under the Policy will be available for the shipments effected during the period for which the due premium was not available with us. (v) We shall be entitled to cancel this Policy and to retain the premium paid and to demand, receive and retain the full amount that was due towards premium under the Policy (save and except shipments exempted or excluded) notwithstanding whether or not we have ceased of any liability in respect of any such shipment effected during the Period of cover, by reason of any breach, failure, negligence, lapse or other act of omission or commission on your part, including (but not limited to) inadequacy of sufficient credit balance in the Deposit Premium Account to meet the amount of premium due thereon as on the date of making a sh...
Sample 1
PAYMENT OF PREMIUM AND FEES. Notwithstanding anything to the contrary in this policy or on your declarations page, if your initial premium payment is by check, draft, electronic funds transfer, or similar form of remittance, coverage under this policy is conditioned on payment to us by the financial institution. If the financial institution upon presentment does not honor the check, draft, electronic funds transfer, or similar form of remittance, this policy may, at our option, be deemed void from its inception. This means we will not be liable under this policy for any claims or damages that would otherwise be covered if the check, draft, electronic funds transfer, or similar form of remittance had been honored by the financial institution. Any action by us to present the remittance for payment more than once shall not affect our right to void this policy. In addition to premium, fees may be charged on your policy. We may charge fees for installment payments, late payments, and other transactions. Payments made on your policy will be applied first to fees, then to premium due.
Sample 1
PAYMENT OF PREMIUM AND FEES. 7.1 You are responsible for the timeous payment of the premium to the Insurer and fees to us in accordance with the Policy terms and conditions read together with any other policy or premium or fee documentation. It is not our policy to fund the payment of premium on behalf of our clients to Insurers. Failure to pay your premium on or before the date contractually required in the Policy, may result in the Insurer cancelling the insurance policy. In this regard, we shall have no liability to you whatsoever by reason of the Insurer’s cancellation of insurance cover due to late payment or non-payment of premiums.
Sample 1
PAYMENT OF PREMIUM AND FEES. Timely payment to Us or Our agent of the full amount of the Initial Payment due is a precondition to inception of coverage. Acceptance of partial payment of the initial premium by Us or Our agent shall not be deemed a waiver of the requirement of full payment of the initial premium, including coverage under any oral or written binder or other temporary insurance contract between You and Us. If Your initial premium payment is made by check, draft, electronic funds transfer or similar form of remittance, coverage under This Policy is also conditional on payment to Us or Our agent when due by Your financial institution. If the financial institution does not honor Your check, draft, electronic funds transfer or similar form of remittance upon presentment, This Policy shall be deemed null and void from its inception without notice of cancellation or any other notice to You by Us. We will not be liable under This Policy for any claims or damages that would otherwise be covered had Your coverage not been voided for lack of timely Initial Payment. Any action by Us or Our agent to present Your payment to Your financial institution more than once shall not affect Our right to void This Policy. In addition to premium, fees may be charged on Your policy. We may charge fees for installment payments, late payments and other transactions. Except with respect to the Initial Payment, payments made on Your policy will be applied first to fees, then to premium due.
Sample 1
PAYMENT OF PREMIUM AND FEES. The Client shall pay the Fees due to the Intermediary, in accordance with the payment schedule set out in clause 7.2 above. The Client shall pay any premiums to the Intermediary if not paid directly to the underwriters within 30(thirty) Days of receipt of the applicable invoice. 10.2.1. The Intermediary shall pay such premium to the relevant underwriter(s) as soon as possible and in any event within the time allowed in terms of the Short Term Insurance Act, Act no. 53 of 1998, as amended. 10.2.2. The Intermediary shall pay such premium, net of any permitted brokerage deductions which the Intermediary may be entitled to withhold subject to the prevailing law and subject to same being disclosed in accordance with the provisions of clause 7.3 above. The Intermediary shall not be obliged to fund the premium on behalf of the Client.
Sample 1

Related to PAYMENT OF PREMIUM AND FEES

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

  • Payment of Prevailing Wages The Contractor and all Subcontractors shall pay all workers on all Work performed pursuant to this Contract not less than the general prevailing rate of per diem wages and the general prevailing rate for holiday and overtime work as determined by the Director of the Department of Industrial Relations, State of California, for the type of work performed and the locality in which the work is to be performed within the boundaries of the District, pursuant to sections 1770 et seq. of the California Labor Code.

  • Allocation of Premiums Premiums due and payable under the Bond (as defined in the Agreement) shall be paid 90% by AXA Enterprise Multimanager Funds Trust and the Trust and 10% by the Manager or its affiliates. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

  • Payment of Costs and Legal Fees and Reinstatement of Benefits In the event any dispute or controversy arising under or in connection with the Executive’s termination is resolved in favor of the Executive, whether by judgment, arbitration or settlement, the Executive shall be entitled to the payment of (a) all legal fees incurred by the Executive in resolving such dispute or controversy, and (b) any back-pay, including Base Salary, bonuses and any other cash compensation, fringe benefits and any compensation and benefits due to the Executive under this Agreement.

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave. 11.4.2 Subject to the terms and conditions of the benefits insurance carrier policies, teachers on parental leave may make arrangements through the School Division to prepay one hundred (100) per cent of the benefit premiums for applicable benefits provided for in the existing collective agreement, for a period of up to eighteen (18) months. 11.4.3 Notwithstanding clause 11.3, subject to the terms and conditions of the benefits insurance carrier policies, upon request by the teacher, the School Division will continue paying the School Division portion of the benefit costs for a teacher on parental leave, for the remainder of the parental leave, up to eighteen (18) months, provided the teacher repays the School Division portion of the benefit premiums. 11.4.4 A teacher who commits to clause 11.4.3 is responsible to repay the amount of the School Division paid benefit premiums, and shall reimburse the School Division upon return from the leave, in a mutually agreeable, reasonable manner over the period of no more than eighteen (18) months following the teacher’s return to duty. 11.4.5 If a teacher fails to return to their teaching duties, the teacher shall be responsible to forthwith repay the School Division paid benefit premiums, and shall reimburse the School Division upon receipt of an invoice. 11.4.6 If a teacher has not fully repaid the cost of benefit premiums previously paid by the School Division under clause 11.4.3 the teacher is not eligible to reapply for additional consideration under clause 11.4.3.

  • – PREMIUM & OTHER PAYMENT 16.01 Overtime shall be paid for all paid hours over seven and one-half (7½) hours on a shift or seventy-five (75) hours bi-weekly at the rate of one and one-half (1½) times the employee's regular straight time hourly rate of pay. Overtime is subject to authorization by the Director of Nursing or designate. Authorization shall not be unreasonably withheld. In the event of an emergency, authorization may not be required. 16.02 When an employee is required to work on a paid holiday or on a day for which she is entitled to receive time and one-half (1½) her regular straight time hourly rate and she is required to work additional hours in excess of her normal seven and one-half (7½) hour shift on that day, she shall receive two (2) times her regular straight time hourly rate for such additional hours worked. 16.03 If an employee reports for work at the regularly scheduled time and no work is available, such employee will be paid a minimum of four (4) hours pay at her regular straight time hourly rate, provided the employee has not previously received notification orally or in writing not to report. 16.04 Where call-in is requested within one-half (½) hour of the starting time of the shift and the employee commences work within one (1) hour of the call, then the employee will be paid as if the entire shift had been worked, provided she completes the shift for which she was called in. 16.05 It shall be the responsibility of the employee to consult the posted work schedule. Changes to the posted schedule required by the Employer shall be brought to the attention of the employee. Where less than twenty-four (24) hours' notice is given to the employee personally, the employee will be paid four (4) hours’ straight time wages or six (6) hours’ straight time wages if an extended tour. It is understood that call-ins or call-backs are not covered by this provision. 16.06 If an employee works two consecutive shifts she shall be provided a meal by the Employer, or if a meal cannot be provided she shall receive a meal allowance of five dollars ($5.00).

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated. 1. PPO medical coverage 2. Prescription drug coverage

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