Payout Multiple. This term means the multiple as calculated in accordance with Section 215.555(4)(c), Florida Statutes, which is derived by dividing the single season Claims-Paying Capacity of the FHCF by the total aggregate industry Reimbursement Premium for the FHCF for the Contract Year billed as of December 31 of the Contract Year. The final Payout Multiple is determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.
Payout Multiple. This term means the multiple derived by dividing the Claims-Paying Capacity of the FHCF by the total industry Reimbursement Premium for the FHCF for the Contract Year billed as of December 31 of the Contract Year. The multiple is finally determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.
Payout Multiple. This term means the multiple derived by dividing the Claims-Paying Capacity of the FHCF by the total industry Reimbursement Premium for the FHCF for the Contract Year billed as of December 31 of the Contract Year. The multiple is finally determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.
