Premium Accounts. The Service Provider shall establish and own premium accounts for the collection of premium and fee payments with respect to the Administered Contracts. Premiums paid with respect to Coinsured Policies and fees paid with respect to ASO Contracts and Network Contracts shall be for the account of the Service Provider.
Premium Accounts. 2.1 Subject to the terms and conditions stated in this Agreement, the Customer may from time to time offer to make Premium Accounts with Citibank.
Premium Accounts. The Conservator and Debtors agree to resolve the current dispute over the insurance premiums and entitlement to fees in the following manner: Simultaneously with the delivery of the executed duplicate original of this agreement by all parties, the executed "Letters Re Reorganization" and the fully-executed Release and Covenant Not to Xxx described below to Xxxxxxxxxxx X. Xxxxxx, as the court-designated "Facilitator," SNIS shall wire, or SNIG shall cause SNIS to wire to the Conserved Company account designated below, the sum of TWENTY-FOUR MILLION DOLLARS ($24,000,000), constituting premiums attributable to policies issued by any of the Conserved Companies. The wire instructions for said transfer are as follows: BK OF NYC/CUST ABA # 021 000 018 IOC 565 - INST'L CUSTODY CDT ACCOUNT #: 350791 ACCOUNT NAME: SUPERIOR NATIONAL INSURANCE CO. The Facilitator shall release to the Debtors' counsel, immediately upon verification of receipt of the TWENTY-FOUR MILLION DOLLARS ($24,000,000) by the Conserved Companies the executed duplicate original of this Agreement, the executed "Letters Re Reorganization" and the fully-executed Release and Covenant Not to Xxx. Debtors, directly or through SNIS, will wire transfer to the Conservator, via the wire instructions set forth above within two (2) business days of Bankruptcy Court and Superior Court approval of this Settlement Agreement, THIRTY MILLION FIVE HUNDRED NINETY-FIVE THOUSAND THREE HUNDRED TEN DOLLARS AND NINETY-THREE CENTS ($30,595,310.93) from the Conserved Company alleged premiums in possession of the Debtors as of this date and the Debtor shall keep free and clear of any claims of the Conserved Companies the sum of TEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($10,500,000.00) as further consideration for the agreement of debtors to the Settlement Agreement, including releases, property transfers and assignments and a release of the claims against the Conserved Companies relating to the premium dispute with the Conserved Companies. The parties, except for the terms of this Agreement, including the releases and indemnities and provisions providing for the payment and transfer of premium provided for in this Agreement, have resolved all disputes between them relating to the premiums due allegedly to the Conserved Companies, and the premiums due or relating to the Front Companies. The Conserved Companies shall indemnify and hold harmless Debtors with respect to any claims by the Front Companies relating to the actual po...
Premium Accounts. 6.1 The Ceding Company shall pay the Reinsurer the (i) the first Annual Reinsurance Premium payment on the date hereof and (ii) each subsequent Annual Reinsurance Premium payment no later than ten (10) days following each anniversary of the Effective Date, in each case by wire transfer of immediately available funds to an account designated by the Reinsurer.
Premium Accounts. Plan Sponsor will establish, or cause to be established, a premium account at a bank designated by the TPA. Plan Sponsor, and not the TPA, will be the owner of such account. Plan Sponsor authorizes the TPA to endorse COBRA premium payments received by stamping the same with “FOR DEPOSIT ONLY” and the applicable premium account number and to deposit the payments into the premium account.
Premium Accounts
