Premium Year. The 12 month period following the date we credit a particular premium to your contract.
Premium Year Sample Clauses
Related to Premium Year
Premium Payment The Bank shall pay any premiums due on the 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 METHOD The Bank shall pay an amount equal to the planned premiums and any other premium payments that might become necessary to keep the policy in force.
PREMIUM TAX The Reinsurer will not reimburse the Ceding Company for premium taxes.
PREMIUM ACCOUNTING The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C. The method and requirements for reporting and remitting premiums are outlined in Exhibit F. The Reinsurer reserves the right to charge interest on overdue premiums. The interest will be calculated according to the terms and conditions specified in Exhibit C.
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.
Premium Taxes If premium taxes are incurred, they will be deducted from the contract accumulation, to the extent permitted by law.
Payment Due Dates Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of LIBO Rate Advances or Floating Rate Bid Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.
Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.
