Common use of Payout Multiple Clause in Contracts

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.

Appears in 35 contracts

Samples: Reimbursement Contract, Reimbursement Contract, Reimbursement Contract

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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 actual 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.

Appears in 28 contracts

Samples: Reimbursement Contract, Reimbursement Contract, Reimbursement Contract

Payout Multiple. This term means the multiple as calculated in accordance with Section 215.555(4)(c), Florida Statutes, unless the transitional option provided under Schedule 1 of this contract is chosen by June 1, 2004, 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 multiple is finally determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.

Appears in 4 contracts

Samples: Reimbursement Contract, Reimbursement Contract, Reimbursement Contract (Philadelphia Consolidated Holding Corp)

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 5 FHCF-2010K Rule 19-8.010 F.A.C. 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.

Appears in 2 contracts

Samples: Attention (Homeowners Choice, Inc.), Attention (United Insurance Holdings Corp.)

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.

Appears in 2 contracts

Samples: Philadelphia Consolidated Holding Corp, Philadelphia Consolidated Holding Corp

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 31and the amount of bond proceeds has been determined.

Appears in 1 contract

Samples: Reimbursement Contract (Federated National Holding Co)

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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 find Payout Multiple is determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.

Appears in 1 contract

Samples: Reimbursement Contract (Homeowners Choice, Inc.)

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.. 5 FHCF-2014K Rule 19-8.010 F.A.C.

Appears in 1 contract

Samples: Reimbursement Contract (HCI Group, Inc.)

Payout Multiple. This term means the multiple as calculated in accordance with Section 215.555(4)(c), Florida Statutes, unless the transitional option provided under Schedule 1 of this contract is chosen by June 1, 2004, 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 multiple is finally determined 18 FHCF- 2004K once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.

Appears in 1 contract

Samples: Philadelphia Consolidated Holding Corp

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