Common use of Premiums Clause in Contracts

Premiums. Each Owner will pay every premium on any life insurance policies that he or she is required to maintain under this Article. Further, each Owner will give each other Owner proof of such payment within fifteen days after the date the premium was due. If any Owner fails to provide such proof, any other Owner may pay the premium and be reimbursed for his or her payment by the Owner who failed to provide such proof. All dividends on such policies shall be applied to the payment of premiums.

Premiums. Each Owner will must pay every premium on any life insurance policies that he or she is premium required to maintain under this Article. Further, each Owner will and must give each other Owner proof of such payment within fifteen days after the date of the premium was duedue date. If any Owner fails Upon failure to provide such proof, any other Owner may pay the premium and be reimbursed for his or her payment by the Owner who failed to provide such proof. All dividends on such policies shall be applied to the payment of premiumsnon-paying Owner.