Periodic Premium Sample Clauses

The Periodic Premium clause defines the requirement for the policyholder to make regular, scheduled payments to maintain the validity of an insurance policy. Typically, these payments are due monthly, quarterly, or annually, and the clause outlines the amount, frequency, and method of payment. By establishing a clear payment schedule, this clause ensures continuous coverage and helps prevent unintentional policy lapses due to missed payments.
Periodic Premium. The Retrocedent will pay to the Retrocessionaire, in accordance with Article 7 hereof, 100% of the premiums (less brokerage and ceding commissions) received by the Retrocedent in respect of the Reinsurance Agreements on or after the Upfront Premium Payment Date.
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Periodic Premium. From the Effective Date and as additional consideration for the reinsurance provided by the Retrocessionaire under this Agreement, the Retrocedent shall on the fifteenth (15th) day of the month immediately following the 11 end of each calendar quarter pay to a bank account nominated by the Retrocessionaire a periodic premium amount (the “Periodic Premium”) equal to A x B where A is a notional amount equal to the average daily balance of the Funds Withheld Account on each quarter end in respect of the preceding quarter and B is [*****] on an annualized basis accruing and compounding daily.
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Related to Periodic Premium

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Night Premium For all time worked by employees, after 7 p.m. and before 7 a.m., by employees hired on or before August 5, 2005, a premium of twenty-five cents (25¢) per hour shall be paid.

  • REINSURANCE PREMIUM The YRT Reinsurance Premium for each coverage shall equal (i) x (ii) x (iii) / 1,000, where:

  • Weekend Premium An employee shall be paid a weekend premium of one dollar and forty-five cents ($1.45) per hour for each hour worked between 2400 hours Friday to 2400 hours Sunday or such other 48 hour period that the Hospital may establish. If an employee is in receipt of premium payment pursuant to a local scheduling regulation with respect to consecutive weekends worked, he will not receive weekend premium under this provision. Effective June 28, 2005, the weekend premium shall be increased to $1.55 per hour.

  • Night Shift Premium All hours worked by an employee between ten (10:00) p.m. and seven (7:00) a.m. shall be considered as shift work and paid for at the applicable straight time/overtime rate plus two ($2.00) dollars per hour shift premium for each full hour worked during this period. Night-shift premium shall not be added to the employee’s hourly rate of pay for the purpose of computing overtime pay.