Share of premium Sample Clauses

Share of premium. 5.1 The Insurer shall be entitled to share in all premiums received by the ARP Manager in respect of all ARP Policies incepting in the relevant Indemnity Period or under any arrangements made pursuant to paragraph 2.8 in respect of that period in accordance with its Percentage Participation from time to time, subject to: 5.1.1 deduction of administration and management charges (including any applicable Value Added Tax) by the ARP Manager; 5.1.2 (where the Insurer has agreed that these may be paid on its behalf by the ARP Manager under paragraph 2.3.5 or where the obligation to pay such amounts falls on the ARP Manager as a matter of law) deduction of any amounts payable by the ARP Manager to HM Revenue and Customs by way of Insurance Premium Tax; 5.1.3 any set-off against the liability of the Insurer from time to time under paragraph 6; 5.1.4 any set-off against the liability of the Insurer from time to time in respect of claims arising on ARP Policies or in respect of any arrangements made pursuant to paragraph 2.8 incepting in any previous Indemnity Period; 5.1.5 any adjustment required under paragraph 6.5; 5.1.6 any adjustment to the Insurer‘s Percentage Liability in accordance with paragraph 3.9; 5.1.7 any adjustment to the Insurer‘s Initial Participation Percentage Participation or Percentage Liability in accordance with paragraph 9; 5.1.8 the addition of any income earned (net of any taxation in respect of that income) on premiums received by the ARP Manager; and 5.1.9 deduction of any sum due pursuant to paragraph 8.1, such share after taking into account each of the above adjustments being referred to in this Agreement as the ARP Amount. 5.2 If, on the date 3 months following the end of the relevant Indemnity Period, the ARP Amount in respect of any Indemnity Period is greater than zero, the ARP Manager shall pay such sum to the Insurer within 20 business days thereafter, but without prejudice to its rights under to make any subsequent demands under paragraph 6. 5.3 The ARP Manager shall keep all premiums received in respect of ARP Policies or under any arrangements made pursuant to paragraph 2.8 in a separate account in relation to each Indemnity Period and held by the ARP Manager on trust for the Qualifying Insurers which participate in the ARP at any time during the relevant Indemnity Period. 5.4 The ARP Manager shall execute a Deed of Trust in the form attached to this Schedule 1, setting out the terms on which it shall hold sums as agent and t...
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Related to Share of premium

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Allocation of Premiums Premiums due and payable under the Bond (as defined in the Agreement) shall be paid 90% by AXA Enterprise Multimanager Funds Trust and the Trust and 10% by the Manager or its affiliates. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Waiver of Premium In the event an employee becomes totally disabled before age seventy (70), there shall be a waiver of premium for all life insurance coverage that the employee had at the time of disability.

  • REINSURANCE PREMIUM The YRT Reinsurance Premium for each coverage shall equal (i) x (ii) x (iii) / 1,000, where:

  • Overtime Premium a) Time and one-half (1/2) shall be paid as follows: 1) For all hours worked over 8 (eight) hours per day. 2) For all hours worked over 40 (forty) hours per week. 3) For all hours worked on Sunday, unless part of the employees regularly scheduled workweek. b) Double time plus holiday pay shall be paid for all hours worked on holidays that are defined in this Agreement.

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Benefits – Prepayment or Repayment of Premiums During Unpaid Portion of Leave 11.4.1 Teachers may prepay or repay benefit premiums payable during the duration of parental leave. 11.4.2 Subject to the terms and conditions of the benefits insurance carrier policies, teachers on parental leave may make arrangements through the School Division to prepay one hundred (100) per cent of the benefit premiums for applicable benefits provided for in the existing collective agreement, for a period of up to eighteen (18) months. 11.4.3 Notwithstanding clause 11.3, subject to the terms and conditions of the benefits insurance carrier policies, upon request by the teacher, the School Division will continue paying the School Division portion of the benefit costs for a teacher on parental leave, for the remainder of the parental leave, up to eighteen (18) months, provided the teacher repays the School Division portion of the benefit premiums. 11.4.4 A teacher who commits to clause 11.4.3 is responsible to repay the amount of the School Division paid benefit premiums, and shall reimburse the School Division upon return from the leave, in a mutually agreeable, reasonable manner over the period of no more than eighteen (18) months following the teacher’s return to duty. 11.4.5 If a teacher fails to return to their teaching duties, the teacher shall be responsible to forthwith repay the School Division paid benefit premiums, and shall reimburse the School Division upon receipt of an invoice. 11.4.6 If a teacher has not fully repaid the cost of benefit premiums previously paid by the School Division under clause 11.4.3 the teacher is not eligible to reapply for additional consideration under clause 11.4.3.

  • Return of Premises Xxxxxx agrees to refrain from causing damage to the premises and to return same at the expiration or prior termination of the Lease in the same or better condition as when received, except reasonable and ordinary wear. Buried yard lines installed by Xxxxxx become property of Lessor upon leaving the Community, and will not be removed from homesite or damaged when home is removed from premises. Xxxxxx also agrees not to remove or attempt to remove the manufactured home from the leased premises until all sums have been paid hereunder, including damages for breach of this Lease. These sums shall be paid to Lessor in cash or certified funds. Such removal is expressly hereby made subject to Section 19 , Abandonment, below.

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