TRIAL EXPERIENCE REFUND Sample Clauses

TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial Experience Refund" for any Reinsurer shall be equal to (a) minus (b) minus (c), where: (a) equals the sum of: (i) the Reinsurance Premium determined in accordance with Article II; and (ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer determined in accordance with Article IV; (b) equals the sum of: (i) the Indemnification for Benefit Payments, determined in accordance with Article V; (ii) the Allowance determined in accordance with Article III; and (iii) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company determined in accordance with Article IV; and (c) equals the Recapture Charge defined in Article IX, Paragraph 5 as of the end of the prior Accounting Period plus interest as described in Article IX, Paragraph 5(b)(i).
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TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial ----------------------- Experience Refund" will be equal to (a) minus (b), where: (a) equals the sum of: (i) the Reinsurance Premium determined in accordance with Article II; and (ii) the Funds Withheld Investment Credit as defined in Schedule C. (b) equals the sum of: (i) the Reimbursement for Benefit Payments, determined in accordance with Article V; (ii) the Allowance determined in accordance with Article III; (iii) the Risk and Profit Charge determined in Accordance with Article VI, Paragraph 1; and (iv) the GAAP Reserves (as defined in Schedule B) as of the end of the accounting period, minus the GAAP Reserves as of the end of the prior accounting period; (v) the balance of the Memorandum Account, as described in Article VIII, Paragraph 8, at the end of the preceding Accounting Period, with accrued interest thereon
Sample 1
TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial Experience Refund" for any Reinsurer will be equal to (a) minus (b), where: (a) equals the sum of: (i) the Renewal Reinsurance Premium determined in accordance with Article II; and (ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer determined in accordance with Article IV; and (b) equals the sum of: (i) the Reimbursement for Benefit Payments, determined in accordance with Article V; (ii) the Allowance determined in accordance with Article III; (iii) any Modified Coinsurance Reserve Adjustment payable to MetLife determined in accordance with Article IV; (iv) the Expense and Risk Charge determined in accordance with Paragraph 2 of the Reinsurer's Certificate; and (v) the balance of the Memorandum Account, as described in Article VII, Paragraph 9, at the end of the preceding Accounting Period, with accrued interest thereon.
Sample 1

Related to TRIAL EXPERIENCE REFUND

  • Experience Credit a. For the purpose of this article, a teacher teaching on call (TTOC) shall be credited with one (1) day of experience for each full-time equivalent day worked. b. One hundred seventy (170) full-time equivalent days credited shall equal one (1) year of experience.

  • Experience Pay An employee hired by the Hospital with recent and related experience, may claim at the time of hiring on a form supplied by the Hospital, consideration for such experience. Any such claim shall be accompanied by verification of previously related experience. The Hospital shall then evaluate such experience during the probationary period. Where, in the Hospital’s opinion such experience is relevant, the employee shall be slotted in that step of the wage progression consistent with one (1) year’s service for every one (1) year of related experience in the classification on the completion of the employee’s probationary period. It is understood and agreed that this shall not constitute a violation of the wage schedule of the Collective Agreement.

  • Related Experience Previous experience related to the duties associated with the position.

  • Overpayment Provider shall be liable to the GLO for any costs disallowed pursuant to financial and/or compliance audit(s) of funds received under this Contract. Provider shall reimburse such disallowed costs from funds other than those that Provider received under this Contract. Provider must refund disallowed costs and overpayments of funds received under this Contract to the GLO within 30 days after the GLO issues notice of overpayment to Provider.

  • Years Experience Company years experience in this category? This is an evaluation criterion worth a maximum of 10 points. See RFP for more information. (If applicable, vendor should download the Reseller/Dealers spreadsheet from the Attachments section, fill out the f orm and submit the document in the ”Response Attachments” RESELLERS section. EXAMPLE: BIGmart is a reseller of ACME brand televisions. If ACME were a TIPS awarded vendor, then ACME woul d list BIGmart as a reseller.

  • Underpayment In the event of a change which results in an underpayment to an employee, the employee shall be properly compensated on or before the next possible paycheck following discovery of the error. Upon request, the District shall provide the employee with specific written explanation for the underpayment through the Payroll Contact Person at the employee’s location.

  • Investment Experience Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

  • Previous Experience 31.01 New employees will be classified according to previous comparable experience for the purpose of establishing wage rates. The Co-operative shall not be required to recognize previous experience of new employees who have not worked in the same or similar business in the past two (2) years. Recognized credit for previous experience shall be applicable to qualifying employees commencing with the first working day following completion of said employee's probationary period. 31.02 It shall be the responsibility of the employee to supply proof of their previous experience prior to the completion of their probationary period. Otherwise, all claim for credit for previous experience shall be forfeited by the employee. 31.03 In the event of any disagreement as to credit granted for previous experience, such disagreement shall be considered a grievance, and the Grievance Procedure provided in the Agreement shall apply.

  • Independence from Material Breach Determination Except as set forth in Section X.D.1.c, these provisions for payment of Stipulated Penalties shall not affect or otherwise set a standard for OIG’s decision that Xxxxx has materially breached this IA, which decision shall be made at OIG’s discretion and shall be governed by the provisions in Section X.D, below.

  • CREDIT FOR PREVIOUS EXPERIENCE All employees shall be classified according to previous comparable supermarket experience. Previous comparable experience shall be granted on the following basis: A. Out of the industry for less than one (1) year will receive credit for fifty percent (50%) of their previous experience to a maximum credit of twelve (12) months' credit for previous experience. B. Out of the industry for more than one (1) year, will receive credit for fifty percent (50%) of their previous experience up to a maximum of six (6) months' credit for previous experience. No previous experience will be considered unless it has been stated by the employee on his or her Application for Employment form. (This provision shall not apply where employees fail to indicate their previous comparable experience by agreement with Management.) New employees having previous comparable experience may be paid at a lower scale of wage than their claimed experience calls for but not less than the minimum rate established by this Agreement for an evaluation period not to exceed forty-five (45) days from the date of employment, providing that if the employee's services are retained, then after the forty-five (45) day period they shall receive any difference between the evaluation rate paid and the rate for which their experience qualifies them retroactive to the date their employment started, and shall receive written notification showing the credit granted for previous experience. In the event of any disagreement as to the credit granted for previous experience, such disagreement shall be considered a Grievance and the Grievance Procedure provided in this Agreement shall apply. Providing that the Employer has: i) Provided the employee with the "New Employee" letter provided for in Section 3.02 of this Agreement not later than two (2) weeks from the date of employment, and ii) Provided the employee with the written notification showing credit granted for previous experience within the forty-five (45) day period required by this Section, and iii) Provided the Union with a copy of the letter showing credit granted for previous experience within the same period then no consideration will be given to any disagreement pertaining to credit for previous experience if presented later than sixty (60) days from the date of employment.

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