Premiums and Commissions Sample Clauses

Premiums and Commissions. (a) In consideration of the Reinsurer’s obligations under this Agreement, the following payments shall be made: (i) On the Closing Date, the Company shall pay to the Reinsurer the Closing Date UPR after giving effect to the proportional adjustment associated with Commutations and Recaptures on or prior to the Closing Date, which adjustment will be based on the gross and net unearned premium reserve amounts shown on Exhibit A. For the avoidance of doubt, any Policy listed on Exhibit A that has ceased to be a Covered Policy as of the Closing Date will not be included in the calculation of Closing Date UPR. An illustration of the adjustment with respect to Commutations and Recaptures is attached hereto as Schedule 1. (ii) On the Closing Date, the Reinsurer shall pay to the Company a ceding commission equal to 21% of the payment made by the Company to the Reinsurer under Section 8(a)(i), which payment may be set off against the payment set forth under Section 8(a)(i) above. (iii) On the Closing Date, the Reinsurer shall pay to the Company an additional ceding commission equal to the amount by which the ceding commission under each of its agreements for Third Party Reinsurance that are Commuted or Recaptured as of the Closing Date exceeded 21%. (iv) After the Closing Date, the Reinsurer will promptly upon notice remit to the Company, without any interest thereon, any amounts paid by the Company to the Reinsurer pursuant to this Section 8, net of ceding commissions (without any interest thereon) paid by the Reinsurer hereunder, with respect to any Policy that is determined not to have been a Covered Policy as of the Closing Date. (v) After the Closing Date, if any Third Party Reinsurance is Recaptured or Commuted (including Third Party Reinsurance with respect to any Specified Policy that is ceded by the Company to the Reinsurer in accordance with Section 6(i) or 6(j)), (A) the Company will promptly pay the Reinsurer an amount equal to the statutory unearned premium received upon Recapture or Commutation with respect to such Third Party Reinsurance, and (B) the Reinsurer will promptly pay to the Company a ceding commission equal to the ceding commission under such Third Party Reinsurance, which payment may be set off against the payment set forth under clause (A) above. For the avoidance of doubt, thereupon the indemnity reinsurance coverage provided by the Reinsurer hereunder shall not be net of such Recaptured or Commuted Third Party Reinsurance. (vi) After th...
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Premiums and Commissions. The Reinsured shall pay to the Reinsurer its share of the premium after first deducting a ceding commission and other costs allowed by the Reinsurer (the commission and other costs collectively, the "ceding commission"), as such premium and commission are set forth in the Reinsurance Memorandum for each particular risk reinsured under this Agreement. If obligations covered by a Policy are refunded in advance of maturity and a credit is allowed to the premium charged for insuring the refunding obligations, the Reinsurer shall receive its pro rata share of such credit and shall refund its pro rata share of any unearned premium debited to the refunded obligations net of the ceding commission applicable thereto, provided that the Reinsurer is offered the same pro rata share of the refunding transaction.
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Premiums and Commissions. The premiums payable to the Reinsurer shall be calculated at the original gross rates charged by the Company. The Company will cede to the Reinsurer and the Reinsurer will accept 100% of the unearned premium as of June 30, 2001. The Reinsurer shall allow the Company a commission on the net premiums ceded (being gross written premiums less cancellations and return premiums) equal to all expenses associated with the production and maintenance of the business, plus one half (1/2) of one (1) percent of the gross written premium of business covered under the Agreement.
Sample 1
Premiums and Commissions. In consideration of the parties’ obligations under this Agreement, the following payments shall be made: (a) The Company shall pay to the Reinsurer an amount equal to the Effective Date Reserves as follows: (i) On the Closing Date, the Company shall pay to the Reinsurer an amount equal to the estimated Effective Date Reserves as shown on Exhibit B (the “Estimated Effective Date Reserves”). The payment required by this Section 8.01(a)(i) shall be made by delivery to the Reinsurer of cash and/or securities approved by the Reinsurer having a market value as of the market close on the Business Day immediately prior to the Closing Date equal to the amount payable under this Section 8.01(a)(i). (ii) Following the Closing Date, the parties agree to true-up the Effective Date Reserves. Within 60 days following the Closing Date, the Reinsurer shall prepare and deliver to the Company a statement setting forth the actual Effective Date Reserves. No later than five (5) days after receipt by the Company of the Effective Date Reserve true- up statement, the parties shall agree to the final Effective Date Reserves amount and if the Estimated Effective Date Reserves was (a) less than the actual Effective Date Reserves, the Company shall remit the difference to the Reinsurer or (b) more than the actual Effective Date Reserves, the Reinsurer shall remit the difference to the Company. The true-up payment shall be made by delivery to the recipient party of cash and/or securities approved by the recipient party having a market value as of the market close on the Business Day immediately prior to the date of the true-up payment equal to the amount payable under this Section 8.01(a)(ii). (b) The Reinsurer shall pay to the Company a ceding commission equal to twenty two percent (22%) of the amount of the unearned premium reserves included in the calculation of Effective Date Reserves (the “Ceding Commission”) as follows: (i) On the Closing Date, the Reinsurer shall pay to the Company an amount equal to twenty two percent (22%) of the amount of the unearned premium reserves included in the calculation of Estimated Effective Date Reserves (the “Estimated Ceding Commission”), which payment may be set off against the payment set forth in Section 8.01(a)(i). (ii) Following the Closing Date, the parties agree to true-up the Ceding Commission. Within 60 days following the Closing Date, the Reinsurer shall prepare and deliver to the Company a statement setting forth the actual Ceding Com...
Sample 1
Premiums and Commissions. The existing clause shall be deleted in its entirety and replaced with the following: "As premium for the reinsurance provided hereunder, the Retrocedant shall retrocede to the Retrocessionaire fifty-five percent (55%) of the Gross Net premium ceded to the Retrocedant under the Reinsurance Contracts. The Retrocessionnaire shall pay a ceding commission equal to the sum of (1) applicable ceding and other commissions, (2) brokerage, (3) taxes, and (4) other expenses associated with underwriting the Reinsurance Contracts. Other expenses associated with underwriting shall be limited to a maximum of 10 percent (10%) of the Gross Net Premium ceded to the Retrocedant under the Reinsurance Contracts. Gross Net Premium is defined as the total sum of all premiums associated with Reinsurance Contracts ceded to the Retrocedant, less: (1) return premiums, and (2) ceded reinsurance premium."
Sample 1
Premiums and Commissions. Premiums shall be payable on the terms and conditions of this Agreement and any Endorsements attached hereto and made a part hereof. 1. Accounts Payable by the Company to the Reinsurer. The Company agrees to pay the Reinsurer: A. An amount equal to the Reinsurance Premium less: Ceding Commission to include the ceding expense allowance outlined in Exhibit I and dividends paid on a direct basis to policyholders. Plus; B. An amount equal to any additional Reinsurance premium which results from any premium audit on the Reinsured Policies and which is collected by the Company. Additional premium shall be proportionately reduced by Ceding Commission. 2. Amounts Payable by the Reinsurer to the Company. The Reinsurer agrees to pay to the Company: A. Loss(es) including those amounts defined in Article IV, except subparagraph 2, — Claims, and Losses B. An amount equal to any reduction in the Reinsurance premium resulting from any premium audit or cancellation on the Reinsured Policies. C. General Expense D. Unallocated Expense E. Premium and other taxes F. Expenses associated with involuntary/residual market charges G. Profit Commission H. Dividends as paid on a direct basis to policyholders. The percentage (%) of items C, D, E, F and G as outlined in Exhibit I will be applied to the monthly reinsurance written premium ceded. These percentages will be adjusted on an annual basis at renewal to reflect the expected costs incurred by the Company.
Sample 1
Premiums and Commissions. 3.1 Producer, upon receipt of any payments from an Insured or proposed Insured, shall immediately remit such premiums to Manager. Producer shall be allowed a commission on such premiums as set forth in Addendum No. 1, attached hereto. The commission may be changed from time to time in a manner as provided elsewhere in this Agreement. 3.2 Premiums shall be remitted as follows: A. New Business: 1. Producer shall remit without deduction the gross premiums plus policy fees to Manager, immediately upon receipt. B. Renewal Business: 1. Premiums, policy fees and/or billing fees billed by Manager but received by Producer, shall be immediately forwarded to Manager, without deduction. C. Premiums generated by policy changes will be remitted in the same manner as renewal premiums.
Sample 1
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Premiums and Commissions. In consideration of the respective obligations of Southern Mutual and Donegal Mutual under this Agreement, Donegal Mutual and Southern Mutual shall make the following respective payments: (a) On the Effective Date, Southern Mutual shall pay to Donegal Mutual an amount equal to the Effective Date Reserves (as defined below) as follows: (i) On the Effective Date, Southern Mutual shall pay to Donegal Mutual an amount equal to the Estimated Effective Date Reserves to this Agreement net of the Estimated Effective Date Ceding Commission. The payment this Section 6.1(a)(i) requires shall be made by Southern Mutual’s delivery to Donegal Mutual of cash or securities whose value Donegal Mutual shall have approved no earlier than the third business day preceding the Effective Date having a fair market value as of the market close on the business day immediately preceding the Effective Date equal to the amount payable pursuant to this Section 6.1(a)(i). (ii) Promptly following the Effective Date, Southern Mutual and Donegal Mutual agree to determine the Actual Effective Date Reserves on a definitive basis. Not later than 60 days after the Effective Date, Southern Mutual shall deliver a statement to Donegal Mutual that sets forth Southern Mutual’s determination of the Actual Effective Date Reserves. If Donegal Mutual does not provide an objection notice to such statement, such Southern Mutual statement shall be deemed to have been accepted in the form in which it was delivered to Donegal Mutual and shall be final and binding upon the parties in the absence of fraud or manifest error. If Donegal Mutual shall object to such Southern Mutual statement or if Southern Mutual shall object to any response to such statement by Donegal Mutual, the objecting party shall give the other party written notice of such objection within 30 days of the objecting party’s receipt of such statement or response. Such notice of objection shall set forth in reasonable detail the elements and amounts to which the objecting party objects and the basis for such objections. If either party provides an objection notice, the other party, within 15 days after its receipt of the objection notice, shall seek to resolve the objection. In the event Southern Mutual and Donegal Mutual are unable to resolve the objection within 15 days thereafter, the parties shall submit the matter to KPMG LLP (“KPMG”) for final resolution of the matter. Within 30 days of the submission of the matter to KPMG, KPMG shall de...
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Premiums and Commissions 
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Related to Premiums and Commissions

  • Fees and Commissions The fees and commissions that apply to your account are set out in the information box and disclosure statement. You agree to pay the fees and commissions and authorize us to charge them to your account. We reserve the right to change the circumstances in which any of the fees or commissions on your account is charged and the amount of those fees or commissions. You agree that we may impose additional fees and commissions at any time. We will provide notice of any changes or additional fees and commissions if required by applicable law and in accordance with the “Changes” section of this agreement.

  • Brokerage Fees and Commissions The Seller has not incurred any obligation or entered into any agreement for any investment banking, brokerage, or finder's fee or commission in respect of the transactions contemplated by this Agreement for which Buyer or the Company will incur any liability.

  • Brokers' Fees and Commissions Neither the Purchaser nor any of its officers, partners, employees or agents has employed any investment banker, broker, or finder in connection with the transactions contemplated by the Primary Documents.

  • Payment of Commissions Payments of selling commissions and any other fees due to the Dealer pursuant to this Agreement will be made by the Dealer Manager to the Dealer. Selling commissions and such other fees and expense reimbursements due to the Dealer pursuant to this Agreement will be paid to the Dealer within 30 days after their receipt by the Dealer Manager. The Dealer, in its sole discretion, may authorize the Dealer Manager to deposit selling commissions and any other fees or payments due to it pursuant to this Agreement directly to its bank account. If the Dealer so elects, the Dealer shall provide such deposit authorization and instructions in Schedule 2 to this Agreement.

  • No Commissions Neither the Company nor any of its Subsidiaries is a party to any contract, agreement or understanding with any person (other than as contemplated by this Agreement or any Terms Agreement) that would give rise to a valid claim against the Company or any of its Subsidiaries or the Agent for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Shares.

  • Broker’s Commissions Buyer and Seller each hereby represent that, except for the Broker listed herein, there are no other brokers involved or that have a right to proceeds in this transaction. Seller shall be responsible for payment of commissions to the Broker pursuant to a separate written agreement executed by Seller. Seller and Buyer each hereby agree to indemnify and hold the other harmless from all loss, cost, damage or expense (including reasonable attorneys' fees at both trial and appellate levels) incurred by the other as a result of any claim arising out of the acts of the indemnifying party (or others on its behalf) for a commission, finder's fee or similar compensation made by any broker, finder or any party who claims to have dealt with such party (except that Buyer shall have no obligations hereunder with respect to any claim by Broker). The representations, warranties and indemnity obligations contained in this section shall survive the Closing or the earlier termination of this Agreement.

  • Leasing Commissions On or before the Closing Date, Seller shall pay in full all leasing commissions due to leasing or other agents for the current remaining term of the Lease (determined without regard to any unexercised termination or cancellation right).

  • Excess Brokerage Commissions The Adviser is hereby authorized, to the fullest extent now or hereafter permitted by law, to cause the Corporation to pay a member of a national securities exchange, broker or dealer an amount of commission for effecting a securities transaction in excess of the amount of commission another member of such exchange, broker or dealer would have charged for effecting that transaction, if the Adviser determines in good faith, taking into account such factors as price (including the applicable brokerage commission or dealer spread), size of order, difficulty of execution, and operational facilities of the firm and the firm’s risk and skill in positioning blocks of securities, that such amount of commission is reasonable in relation to the value of the brokerage and/or research services provided by such member, broker or dealer, viewed in terms of either that particular transaction or its overall responsibilities with respect to the Corporation’s portfolio, and constitutes the best net results for the Corporation.

  • Brokerage Commissions All brokers' commissions and other charges incident to the purchase, sale or lending of the Fund 's portfolio securities.

  • Selling Commissions Any and all commissions payable to underwriters, dealer managers or other broker-dealers in connection with the sale of Shares, including, without limitation, commissions payable to Behringer Securities LP.

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