Adjusted Premium definition

Adjusted Premium means any premium payment allocated to the Guaranteed Interest Account as adjusted to include any interest credited on and any contract charges or withdrawals deducted from such premium payment.

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Adjusted Premium as used herein shall be determined as follows: 1. The Company’s Adjusted Premium will be equal to provided the Adjusted TIV is greater than or equal to 90% of Provisional TIV, but not greater than 110% of Provisional TIV. 2. However, in the event: a. Adjusted TIV is greater than 110% of Provisional TIV, the Company’s Adjusted Premium will equal % of the Company’s Adjusted TIV, less 10% of ; or b. Adjusted TIV is less than 90% of Provisional TIV, the Company’s Adjusted Premium will be equal to the greater of the following: i. ; or

Adjusted Premium as used herein shall be determined as follows: 1. The Company's Adjusted Premium for each excess layer will be equal to the amount, shown as “Deposit Premium” for that excess layer in Schedule A attached hereto, subject to the following circumstances: a. Adjusted TIV increases to an amount equal to or less than 110% of Provisional TIV; or b. Adjusted TIV decreases to an amount equal to or greater than 90% of Provisional TIV. 2. However, in the event: a. Adjusted TIV increases to an amount greater than 110% of Provisional TIV, the Company's Adjusted Premium will equal the percentage, shown as “Premium Rate” for that excess layer in Schedule A attached hereto, applied to the Company's Adjusted TIV, less 10% of the amount, shown as “Deposit Premium” for that excess layer in Schedule A attached hereto; or b. Adjusted TIV decreases to an amount less than 90% of Provisional TIV, the Company's Adjusted Premium will be equal to the greater of the following: i. The amount, shown as “Minimum Premium” for that excess layer in Schedule A attached hereto; or ii. The percentage, shown as “Premium Rate” for that excess layer in Schedule A attached hereto, applied to the Company's Adjusted TIV, plus 10% of the amount, shown as “Deposit Premium” for that excess layer in Schedule A attached hereto.

Examples of Adjusted Premium in a sentence

• Adjusted Premium for Special Funds has the same definition, but with respect to amounts allocated to Special Funds.

• Transfers from Special Funds increase the Adjusted Premium for non-Special Funds by the lesser of the reduction of the Adjusted Premium for Special Funds and net Accumulation Value transferred.

• Transfers from non-Special Funds increase the Adjusted Premium for Special Funds by the reduction in the Adjusted Premium for non-Special Funds.

• The amount of the prorata adjustment will equal (a) times (b) divided by (c), where: (a) is the Adjusted Premium for non-Special Funds prior to the transfer or withdrawal; (b) is the Accumulation Value of the transfer or withdrawal; and (c) is the Accumulation Value allocated to non-Special Funds before the transfer or withdrawal.

• Adjusted Premium for Excluded Funds has the same definition, but with respect to amounts allocated to Excluded Funds.

• The amount of the pro-rata adjustment will equal (a) times (b) divided by (c), where: (a) is the Adjusted Premium for Covered and Special Funds prior to the transfer or withdrawal; (b) is the Accumulation Value of the transfer or withdrawal; and (c) is the Accumulation Value allocated to Covered and Special Funds before the transfer or withdrawal.

• CONTRACT VALUE The sum of the values under the contract of all Accumulation Units held in the Subaccounts and the Adjusted Premium payments held in the Guaranteed Interest Account.

• Further, the reinsurance premium, including the minimum premium, if applicable, due hereunder shall be prorated based on the Subscribing Reinsurer’s period of participation hereunder and shall be paid as promptly as possible after the final Adjusted Premium is determined hereunder.

• That rate will remain in effect for such premium payments, or their resulting Adjusted Premium, for an initial period of one year.

• Adjusted Premium for non-Special Funds shall mean all premium and any credits allocated to non-Special Funds, plus an adjustment for any amounts transferred to non-Special Funds, less a prorata adjustment for any amounts transferred or withdrawn from non-Special Funds.

More Definitions of Adjusted Premium

Adjusted Premium means: (a) 10% of the reduction in the Principal Amount resulting from the payment set forth in (i) above if such prepayment occurs prior to the end of the sixth (6th) month from the date hereof; (b) 5% of the reduction in the Principal Amount if such prepayment occurs during the period commencing on the first day following the sixth (6th) month anniversary of the date hereof and prior to the end of the eighteenth (18th) month from the date hereof; and (c) 3% of the reduction in the Principal Amount if such prepayment occurs at any time thereafter but before the Maturity Date.

Adjusted Premium as defined on the Definitional Annex.

Adjusted Premium means, with respect to any Rating Period, the aggregate of adjusted premiums, adjusted deductible prepayments, actual claims handling fees (to the extent not included in adjusted deductible prepayments) and other amounts paid or incurred by Limited with respect to such Rating Period, including without limitation interest and letter of credit fees paid in connection with any deferral of premium payments, minus declared dividends or returned premiums (to the extent not reflected in adjusted premiums) payable to Limited by Insurer with respect to such Rating Period, all determined in accordance with the provisions of the Insurance Program in effect for such Rating Period.

Adjusted Premium means: (a) 110% of the Principal Amount if such prepayment occurs after twelve (12) months from the date hereof and prior to the end of the eighteenth (18th) month from the date hereof; (b) 105% of the Principal Amount if such prepayment occurs during the period commencing on the first day following the eighteenth (18th) month anniversary of the date hereof and prior to the end of the twenty-fourth (24th) month from the date hereof; and (c) 103% of the Principal Amount if such prepayment occurs at any time thereafter but before the Maturity Date.