Common use of PREMIUM PAYMENT CLAUSE Clause in Contracts

PREMIUM PAYMENT CLAUSE. Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers within 60 days of inception of this contract (or, in respect of instalment premiums, when due). If the premium due under this contract has not been so paid to (Re)Insurers by the 60th day from the inception of this contract (and, in respect of instalment premiums, by the date they are due) (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contract. It is agreed that (Re)Insurers shall give not less than 15 days prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Authorised Signatory Forming part of Certificate No. 1600454

PREMIUM PAYMENT CLAUSE. Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured Insured undertakes that premium will be paid in full monthly to (Re)Insurers Underwriters within 60 30 days of inception of this contract (or, month end in respect of instalment premiums, when due)each declaration. If the premium due under this contract policy has not been so paid to (Re)Insurers Underwriters by the 60th day from the inception of this contract policy (and, in respect of instalment premiums, by the date they are due) (Re)Insurers Underwriters shall have the right to cancel this contract policy by notifying the (Re)Insured Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers Underwriters on a pro rata basis for the period that (Re)Insurers Underwriters are on risk but the full contract policy premium shall be payable to (Re)Insurers Underwriters in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contractpolicy. It is agreed that (Re)Insurers Underwriters shall give not less than 15 30 days prior notice of cancellation to the (Re)Insured Insured via the broker. If premium due is paid in full to (Re)Insurers Underwriters before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract policy shall automatically terminate at the end of the notice period. Unless otherwise agreed, the Leading Underwriter (and Agreement Parties if appropriate) are authorised to exercise rights under this clause on their own behalf and on behalf of all Underwriters participating in this contract. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Authorised Signatory Forming part Where the premium is to be paid through a London Market Bureau, payment to Underwriters will be deemed to occur on the day of Certificate Nodelivery of a premium advice note to the Bureau. 160045411/01 LSW3000 SERVICE OF SUIT CLAUSE (CANADA) (Action against Insurer) In any action to enforce the obligations of the Underwriters they can be designated or named as “Lloyd’s Underwriters” and such designation shall be binding on the Underwriters as if they had each been individually named as defendant. Service of such proceedings may validly be made upon the Attorney In Fact in Canada for Lloyd’s Underwriters, whose address for such service is 0000, xxx Xxxxxxxx, Xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0. LMA5028 10/08/06 Form approved by Lloyd’s Market Association INTENTION FOR AIF TO BIND CLAUSE Whereas Lloyd’s Underwriters have been granted an order to insure in Canada risks under the Insurance Companies Act (Canada) and are registered in all provinces and territories in Canada to carry on insurance business under the laws of these jurisdictions or to transact insurance in these jurisdictions. And whereas applicants for insurance coverage in respect of risks located in Canada and Canadian Cedants wish that Lloyd’s insurance and reinsurance coverage be provided in a manner that requires Lloyd’s Underwriters to vest assets in trust in respect of their risks pursuant to the Insurance Companies Act (Canada);

PREMIUM PAYMENT CLAUSE. Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured Insured undertakes that premium will be paid in full monthly to (Re)Insurers Underwriters within 60 30 days of inception of this contract (or, month end in respect of instalment premiums, when due)each declaration. If the premium due under this contract Policy has not been so paid to (Re)Insurers Underwriters by the 60th day from the inception of this contract Policy (and, in respect of instalment premiums, by the date they are due) (Re)Insurers Underwriters shall have the right to cancel this contract Policy by notifying the (Re)Insured Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers Underwriters on a pro rata basis for the period that (Re)Insurers Underwriters are on risk but the full contract Policy premium shall be payable to (Re)Insurers Underwriters in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contractPolicy. It is agreed that (Re)Insurers Underwriters shall give not less than 15 30 days prior notice of cancellation to the (Re)Insured Insured via the broker. If premium due is paid in full to (Re)Insurers Underwriters before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract Policy shall automatically terminate at the end of the notice period. Unless otherwise agreed, the Leading Underwriter (and Agreement Parties if appropriate) are authorised to exercise rights under this clause on their own behalf and on behalf of all Underwriters participating in this contract. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Authorised Signatory Forming part Where the premium is to be paid through a London Market Bureau, payment to Underwriters will be deemed to occur on the day of Certificate Nodelivery of a premium advice note to the Bureau. 160045411/01 LSW3000 SERVICE OF SUIT CLAUSE (CANADA) (Action against Insurer) In any action to enforce the obligations of the Underwriters they can be designated or named as “Lloyd’s Underwriters” and such designation shall be binding on the Underwriters as if they had each been individually named as defendant. Service of such proceedings may validly be made upon the Attorney In Fact in Canada for Lloyd’s Underwriters, whose address for such service is 0000, xxx Xxxxxxxx, Xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0. LMA5028 10/08/06 Form approved by Lloyd’s Market Association INTENTION FOR AIF TO BIND CLAUSE Whereas Lloyd’s Underwriters have been granted an order to insure in Canada risks under the Insurance Companies Act (Canada) and are registered in all provinces and territories in Canada to carry on insurance business under the laws of these jurisdictions or to transact insurance in these jurisdictions. And whereas applicants for insurance coverage in respect of risks located in Canada and Canadian Cedants wish that Xxxxx’x insurance and reinsurance coverage be provided in a manner that requires Lloyd’s Underwriters to vest assets in trust in respect of their risks pursuant to the Insurance Companies Act (Canada);

PREMIUM PAYMENT CLAUSE. Notwithstanding any provision to the contrary within this contract or any endorsement hereto, hereto in respect of non non-payment of premium only the following clause will apply. The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers within 60 115 days of inception of this contract (or, in respect of instalment premiums, when due). If the premium due under this contract has not been so paid to (Re)Insurers by the 60th 115TH day from the inception of this contract (and, in respect of instalment premiums, by the date they are due) (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contract. It is agreed that (Re)Insurers shall give not less than 15 thirty 30 days prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Authorised Signatory Forming part of Certificate No. 160045430/09/08

PREMIUM PAYMENT CLAUSE. Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply. The (Re)Insured Insured undertakes that premium will be paid in full monthly to (Re)Insurers Underwriters within 60 30 days of inception of this contract (or, month end in respect of instalment premiums, when due)each declaration. If the premium due under this contract Policy has not been so paid to (Re)Insurers Underwriters by the 60th day from the inception of this contract Policy (and, in respect of instalment premiums, by the date they are due) (Re)Insurers Underwriters shall have the right to cancel this contract Policy by notifying the (Re)Insured Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers Underwriters on a pro rata basis for the period that (Re)Insurers Underwriters are on risk but the full contract Policy premium shall be payable to (Re)Insurers Underwriters in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contractPolicy. It is agreed that (Re)Insurers Underwriters shall give not less than 15 30 days prior notice of cancellation to the (Re)Insured Insured via the broker. If premium due is paid in full to (Re)Insurers Underwriters before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract Policy shall automatically terminate at the end of the notice period. Unless otherwise agreed, the Leading Underwriter (and Agreement Parties if appropriate) are authorised to exercise rights under this clause on their own behalf and on behalf of all Underwriters participating in this contract. If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect. 30/09/08 LSW3001 Authorised Signatory Forming part Where the premium is to be paid through a London Market Bureau, payment to Underwriters will be deemed to occur on the day of Certificate Nodelivery of a premium advice note to the Bureau. 160045411/01 LSW3000 SERVICE OF SUIT CLAUSE (CANADA) (Action against Insurer) In any action to enforce the obligations of the Underwriters they can be designated or named as “Lloyd’s Underwriters” and such designation shall be binding on the Underwriters as if they had each been individually named as defendant. Service of such proceedings may validly be made upon the Attorney In Fact in Canada for Lloyd’s Underwriters, whose address for such service is 0000, xxx Xxxxxxxx, Xxxxx 0000, Xxxxxxxx, Xxxxxx, X0X 0X0. LMA5028 10/08/06 Form approved by Lloyd’s Market Association INTENTION FOR AIF TO BIND CLAUSE Whereas Lloyd’s Underwriters have been granted an order to insure in Canada risks under the Insurance Companies Act (Canada) and are registered in all provinces and territories in Canada to carry on insurance business under the laws of these jurisdictions or to transact insurance in these jurisdictions. And whereas applicants for insurance coverage in respect of risks located in Canada and Canadian Cedants wish that Lloyd’s insurance and reinsurance coverage be provided in a manner that requires Lloyd’s Underwriters to vest assets in trust in respect of their risks pursuant to the Insurance Companies Act (Canada);