Premium Rebate Sample Clauses

Premium Rebate. (i) In the event that a premium is paid by the Buyer to 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 IL, IN, MI, NJ and PA, 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 one (1) month of the Settlement Date, 1/12ths 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 is an adjustable rate Loan secured by real p...

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. 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. 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 to register the Sick Leave Plan with Service Canada under the Employment Insurance Act. Subject to the approval of Service Canada and the registering of the Sick Leave Plan, the Employee's portion of any benefit derived from such registration shall be returned to the Local 999 in trust on behalf of the Employees.

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 under the plan, the Employer shall contribute one hundred (100%) of the premium of the first thirty thousand dollars of Group Life Insurance coverage amount. The Employee y the plan member over the first thirty thousand dollars ($30,000) up the plan maximum of one hundred and forty thousand dollars Employees shall pay their share of the premium through authorization of direct withdrawal from the Employee’s financial institution.

Premium Rebate. The Parties agree that the full amount of the reduction in the premiums resulting from the registration of the Company Group Insurance Plan will be applied toward the cost of Health and Welfare Plan Benefits. The Employer agrees to pay one hundred (100%) percent of the cost of the benefits. The Employer agrees to pay the fee for the initial medical report required by the Employer for Weekly Indemnity provisions to a maximum of ten ($10.00) dollars. This can be accomplished by either having the employee’s doctor submitting an invoice to the Employer or the employee pay directly, and, upon presentation of a receipt signed by the doctor, the employee shall receive reimbursement of same as per above. In order to ensure coverage under these benefits, a part- time employee must immediately accept coverage upon notification of eligibility by the Company. It is understood and agreed that all matters of eligibility, coverage and benefits shall be as set out in the Plan and as determined by the carrier.

Premium Rebate. Section 9.5 Post-Settlement Adjustment to Purchase Price.................

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.