Claims Payment Account definition

Claims Payment Account means an account utilized by the Plan Sponsor for payment or reimbursement for Covered Services, which account balances shall constitute assets of the Plan Sponsor and not the Plan.
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Claims Payment Account means an account established by and owned by the Trust for payment or reimbursement for Covered Services.
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Claims Payment Account means a bank account to be established by Client and to which Client will contribute the amounts agreed hereunder and from which Administrator may draw funds to pay claims and Allocated Loss Adjustment Expenses required in the administration of Client's Program covered by this Agreement.
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Examples of Claims Payment Account in a sentence

  • Mr. Derk also questioned the value of the property and a short discussion ensued.

  • The parties understand and agree that under state and/or federal statutes and regulations governing insurers, HMOs and claims turnaround times/payment procedures, Plan may be required to pay any due and outstanding Claims even in the event that amounts then in the Claims Payment Account are unavailable to Plan and/or insufficient to pay such Claims, putting Plan at risk for Claims responsibility contrary to the intent of this Agreement.

  • MeSH Major Topic stands for the main topic of the given article, usu- ally obtained from the title and/or statement of purpose (see https://www.nlm.nih.gov/ bsd/disted/meshtutorial/principlesofmedlinesubjectindexing/majortopics/ ac- cessed on July 14, 2019).

  • The second step of the imputation process involves determining the number of people in occupied units—both units actually shown to be occupied in another NRFU procedure and units whose occupancy status was imputed in the first step of the imputation process.

  • Assume that in a prior period, customers de- cide their consideration set of grocery stores.

  • Any Department Division which is a party to a contested case shall be designated by its name and not by the name(s) of particular individual(s) holding office, and if while the contested hearing is pending, a change occurs in an individual(s) holding office, the proceeding shall not abate solely for this reason, and no substitution of parties shall be necessary.

  • Fund the Claims Payment Account and grant the Claims Administrator drafting authority with respect to such Account.

  • The Claims Payment Account shall be set up by the Plan Sponsor who shall execute and deliver to the Claims Administrator, and a depository selected by the Plan Sponsor, any and all documents necessary to empower the Claims Administrator or its vendor to act as signatory on such account.

  • The parties agree that from and after the fifteenth month of this Agreement, BJC may request quarterly withdrawals from the Claims Payment Account.

  • The Finance Committee shall establish a Claims Payment Account and an Operating Account and such other sub-accounts as are necessary to hold, manage, invest and distribute funds in accordance with this Agreement.

Related to Claims Payment Account

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Collection Accounts As defined in Section 3.10(a).

  • Investment Account As defined in Section 3.12(a).

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.