Premium Payments on Policy Sample Clauses

Premium Payments on Policy. (a) During the Term of this Agreement, the Corporation shall pay to the Insurer, on or before each applicable premium due date, all applicable premiums for the Policy. In the event that the Corporation fails to make any such payment, the Employee may make (but is not required to make) any such payment, and the Corporation shall immediately pay to the Employee any amount so paid. All such premium payments made by the Corporation under this Agreement shall constitute advances by the Corporation to the Employee for which the Employee shall be responsible, to the extent of the Corporation's Collateral Interest, for repayment in accordance with the terms of this Agreement.
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Premium Payments on Policy. (a) PAYMENTS AND REIMBURSEMENTS. Prior to the occurrence of the Split Dollar Maturity Date, the Corporation shall pay to the Insurer, on or before each applicable premium due date, all applicable premiums for the Policy, less the amount payable by the Owner as described in subsection (b) below. The Corporation shall promptly notify Owner in writing of the amount and date of such premium payments. In the event that the Corporation fails to make any such payment, the Owner or the Participant may make (but is not required to make) any such payment, and the Corporation shall immediately reimburse the Owner or the Participant, as the case may be, for any amount so paid.
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Premium Payments on Policy 
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Related to Premium Payments on Policy

  • Premium Payments a. Each annual premium on the Policy shall be paid when due as follows:

  • PREMIUM DUE 4 b. FAILURE TO PAY PREMIUMS.............................................5 c.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Premium Recapture With respect to any Mortgage Loan without Prepayment Penalties that prepays in full during the first 90 days following the related Closing Date, and with respect to any Mortgage Loan that is repurchased pursuant to Subsection 9.04, the Seller shall pay the Purchaser, within 30 calendar days after giving notice of such prepayment in full or repurchase, an amount equal to the excess of the Purchase Price Percentage for such Mortgage Loan over par, multiplied by the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date.

  • Vacation Policy The Executive shall be entitled to a paid vacation of four weeks during each year of the Term.

  • Credit and Collection Policy The Servicer has complied in all material respects with the Credit and Collection Policy with regard to each Pool Receivable and the related Contracts.

  • PREMIUM TAX The Reinsurer will not reimburse the Ceding Company for premium taxes.

  • Life Insurance Policy In addition to the insurance coverage contemplated by Section 4(e), during the Employment Term the Company shall maintain in effect term life insurance coverage for the Executive with a death benefit of at least Five Hundred Thousand Dollars ($500,000), subject to the Executive's insurability at standard rates and with the beneficiary or beneficiaries, thereof designated by the Executive. Notwithstanding Section 9 of this Agreement, such life insurance policy or policies may be assigned to a trust for the benefit of any beneficiary designated by the Executive.

  • Single-Premium Credit Life Insurance Policy In connection with the origination of any Mortgage Loan, no proceeds from any Mortgage Loan were used to finance or acquire a single-premium credit life insurance policy;

  • Payments on Notes 37 Section 14.1. Place of Payment................................................................................ 37 Section 14.2. Home Office Payment........................................................................ 37 SECTION 15.

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