Common use of SHARE OF PREMIUMS Clause in Contracts

SHARE OF PREMIUMS. 5.1 The Insurer shall be entitled to share in all premiums received by the SPF Manager in respect of ARP Coverage and other coverage arranged by the SPF Manager pursuant to paragraph 2.12, in each case, incepting in the relevant Indemnity Period, and to share in investment income earned on all such premiums, in accordance with its Percentage Participation from time to time, subject to such deductions therefrom as the SPF Manager considers reasonable and necessary in its discretion for the proper and efficient operation of the SPF (or any part of it) in respect of that Indemnity Period.