Premium Rebate. In consideration of the provision of the Employee benefits package, the Union, on behalf of the employees, releases the Employer from any obligation it might have hereafter to pay to employees an employment insurance commission rebate available because of the existence of a wage loss plan (sick leave plan). Such rebate shall be used by the Employer to defray part of the costs of this section.
Premium Rebate. (i) In the event that a premium is paid by the Buyer to the Seller on a Loan and such Loan is a fixed rate Loan secured by residential real property located in any state or an adjustable rate Loan secured by residential real property located in any state, except in Illinois, Indiana, Michigan, New Jersey and Pennsylvania, and said Loan is prepaid in full by the Borrower, other than by a refinancing by the Buyer or any of its subsidiaries or affiliates, within twelve (12) months of Settlement Date, the Seller shall, upon demand by the Buyer, refund to the Buyer the premium paid by the Buyer to the Seller as follows: if prepayment in full is within one (1) month of the Settlement Date, 12/12ths of the premium shall be refunded; if prepayment in full is within two (2) months of the Settlement Date, 11/12ths of the premium shall be refunded; if prepayment in full is within three (3) months of the Settlement Date, 10/12ths of the premium shall be refunded; if prepayment in full is within four (4) months of the Settlement date, 9/12ths of the premium shall be refunded; if prepayment in full is within five (5) months of the Settlement Date, 8/12ths of the premium shall be refunded; if prepayment in full is within six (6) months of the Settlement Date, 7/12ths of the premium shall be refunded; if prepayment in full is within seven (7) months of the Settlement Date, 6/12ths of the premium shall be refunded; if prepayment in full is within eight (8) months of the Settlement Date, 5/12ths of the premium shall be refunded; if prepayment in full is within nine (9) months of the Settlement Date, 4/12ths of the premium shall be refunded; if prepayment in full is within ten (10) months of the Settlement Date, 3/12ths of the premium shall be refunded; if prepayment in full is within eleven (11) months of the Settlement Date, 2/12ths of the premium shall be refunded; if prepayment in full is within twelve (12) months of the Settlement Date, 1/12th of the premium shall be refunded. In the event any fixed rate Loan is prepaid in full later than twelve (12) months from the Settlement Date of such Loan, no refund shall be due. In the event the Note carries a prepayment penalty, the Buyer agrees first to recapture the premium rebate from the proceeds of the prepayment penalty and then from the Seller, if there is any deficient balance according to the refund calculation specified above.
(ii) In the event that a premium is paid by the Buyer to the Seller on a Loan and such Loan i...
Premium Rebate. This will confirm our understanding first reached during the 1991 negotiations concerning the sharing of the Employment Insurance premium reduction allowed employers with qualified wage loss replacement plans. The parties recognize that the Employment Insurance premium reduction may be passed on to employees as a group either in the form of a cash rebate or in the form of employee benefits. It was agreed that effective with the first pay period ending in January, 1991, and continuing through the term of the current Agreement the Company will cease sharing the premium reduction with employees in the form of a cash rebate and will instead apply the employee's share of the Employment Insurance premium reduction to improvements in current benefits or to provide new benefits.
Premium Rebate. In the event that a premium is paid by the Buyer to the Seller on a Loan and such Loan is prepaid by the Borrower, whether voluntarily or involuntarily following acceleration after default, within twelve (12) months of the Settlement Date, other than by a refinancing by the Buyer or any of its subsidiaries or affiliates or a refinancing by the Seller which is purchased by the Buyer, the Seller shall, upon demand by the Buyer, refund to the Buyer, in the appropriate percentage specified below, the premium paid by the Buyer to the Seller. In the event such Loan is prepaid within thirty (30) days of the Settlement Date of such Loan, the refund due Buyer from Seller will equal one hundred (100%) percent of the premium paid to Seller by Buyer for such Loan. In the event such Loan is prepaid later than twelve (12) months from the Settlement Date of such Loan, no refund shall be due. The amount of the premium to be refunded shall be determined as follows: Day: 31-60 91.67% 61-90 83.33% 91-120 75.00% 121-150 66.67% 151-180 58.33% 181-210 50.00% 211-240 41.67% 241-270 33.33% 271-300 25.00% 301-330 16.67% 331-365 8.33%
V. REPRESENTATIONS AND WARRANTIES OF THE SELLER
Premium Rebate. The Employer agrees that five-twelfths (5/12ths) of the E.I. Premium Reduction will be paid back to the employee annually, where applicable.
Premium Rebate. Any rebate resulting from implementation of income protection benefit plans shall be distributed on the basis approved by Revenue Canada at the time such rebate received. The portion shall be paid to the Union.
Premium Rebate. Each year of this Agreement, the District will provide fifty percent (50%) of its premium cost of health insurance to each employee eligible for individual or family insurance provided the employee indicates that he or she wishes to forego health insurance and further provided that the employee proves to the District and CSEA that they possess medical insurance coverage. The procedures set forth herein shall be in accordance with appropriate New York State law.
Premium Rebate. In consideration of the provision of the Employee benefits package, the Union, on behalf of the employees, releases the Employer from any obligation it might have hereafter to pay to employees an employment insurance commission rebate available because of the existence of a wage loss plan (sick leave plan). Such rebate shall be used by the Employer to defray part of the costs of this section. For eligible Employees on Seniority List A, who have enrolled in coverage under the plan, the Employer shall contribute one hundred percent (100%) of the premium of the first thirty thousand dollars ($30,000) of Group Life Insurance coverage amount. The Employee will pay one hundred percent (100%) of the coverage amount elected by the plan member over the first thirty thousand dollars ($30,000) up to the plan maximum of one hundred and forty thousand dollars ($140,000). Collective Agreement Unit September to August Employees shall pay their share of the premium through authorization of direct withdrawal from the Employee’s financial institution.
Premium Rebate. In the event that a Premium is paid by the Buyer to the Seller on a Mortgage Loan and such Mortgage Loan is prepaid in full by the Borrower, other than by a refinancing by the Buyer or any of its subsidiaries or affiliates, within three (3) months of Settlement Date, the Seller shall, upon demand by the Buyer, refund to the Buyer the Premium paid by the Buyer to the Seller as follows: if prepayment in full is within one (1) month of the Settlement Date, 3/3rds of the Premium shall be refunded; if prepayment in full is between one (1) and two (2) months of the Settlement Date, 2/3rds of the Premium shall be refunded; if prepayment in full is between two (2) and three (3) months of the Settlement Date, 1/3rd of the Premium shall be refunded. In the event any Mortgage Loan is prepaid in full later than three (3) months from the Settlement Date of such Mortgage Loan, no refund shall be due. In the event the Note carries a prepayment penalty, the Buyer agrees to recapture the Premium rebate from the proceeds of the prepayment penalty and then from Seller, if there is any deficient balance according to the refund calculation specified above..
Premium Rebate. In the event that a premium is paid by the Buyer to the Seller on a Loan and/or such Loan is prepaid by the Borrower, other than by a refinancing by the Buyer or any of its subsidiaries or affiliates or a refinancing by the Seller which is purchased by the Buyer, within twelve (12) months of Settlement Date of such Loan, the Seller shall, upon demand by the Buyer, refund to the Buyer, in the appropriate percentage specified below, the premium paid by the Buyer to the Seller. In the event such Loan is prepaid within one hundred eighty (180) days of the Settlement Date of such Loan, the refund due Buyer from Seller will equal one hundred (100%) percent of the premium paid to Seller by Buyer for such Loan. In the event the Loan is prepaid during the period of one hundred eighty-one (181) days to three hundred and sixty (360) days of the Settlement Date of such Loan, the refund due Buyer from Seller will equal two-thirds (2/3) of the premium paid to Seller by Buyer. In the event such Loan is prepaid later than twelve (12) months from the Settlement Date of such Loan, no refund shall be due.
