Commissions and Expenses definition

Commissions and Expenses means (i) all sales commissions, production bonuses or other payments in cash or kind payable to duly licensed insurance agents or other persons with respect to any Reinsured SPDAs, whether issued by the Company prior to the Effective Date or issued by the Company, with the consent of the Reinsurer, on or subsequent to the Effective Date, (ii) an administration services fee of $2.00 per month per Reinsured SPDA in force at the beginning of each month during the term of this Agreement for providing the policyholder services listed on Schedule D with respect to the Reinsured SPDAs, (iii) the fees listed on Schedule E for providing the conservation and commission payment services included therein, and (iv) all direct expenses incurred in connection with the Reinsured SPDAs, including, but not limited to (a) guaranty fund assessments relating to premiums written on or subsequent to the Effective Date, (b) premium or other taxes and (c) any charges and assessments imposed directly on or with respect to the Reinsured SPDAs.
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Examples of Commissions and Expenses in a sentence

  • Such reports will include information on the amount of Reinsurance Premiums, Allowance for Commissions and Expenses, Benefit Payments, Modified Coinsurance Reserve, Modified Coinsurance Reserve Adjustment, and the increase in the CARVM Allowance for the Reinsured Policies.

  • The total aggregate amount of commissions, marketing and due diligence expense reimbursements (collectively, "Selling Commissions and Expenses") will not exceed 10.5% of the Gross Proceeds.

  • The Reinsurer shall pay the Company, in accordance with Section 8.01(a), an expense allowance equal to 100.14% of the Commissions and Expenses incurred and paid by the Company during the term of this Agreement with respect to the Reinsured SPDAs; provided, however, the Reinsurer expressly agrees that the Company's right to receive reimbursement for guaranty fund assessments as part of Commissions and Expenses shall survive the termination of this Agreement.

  • The allowance for any premium taxes paid in connection with the annuities reinsured hereunder is included in the Commissions and Expenses, described in Article III.

  • The Reinsurer shall pay all administration and accounting expenses and other expenses related to maintenance of the Reinsured SPDAs, as part of Commissions and Expenses payable pursuant to the provisions of Section 6.01 of this Agreement.

  • The Manager and not the Company shall be obligated to pay all Selling Commissions and Expenses to the extent that the payment of such Selling Commissions and Expenses and all Organization and Offering Expenses exceed the QOF Limitation.

  • The “QOF Limitation” shall mean an amount that would cause the Company to fail to comply with the 90% asset test under the Qualified Opportunity Fund provisions as a result of the payment by the Company of the Selling Commissions and Expenses and the Organization and Offering Expenses in connection with the Offering.

  • Such reports will include information on the amount of Reinsurance Premiums, Allowance for Commissions and Expenses, Benefit Payments, Modified Coinsurance Reserve, and Modified Coinsurance Reserve Adjustment.

  • Commissions and Expenses The Hong Kong Underwriters will receive a gross commission of 2.5% of the aggregate Offer Price payable for the Hong Kong Offer Shares initially offered under the Hong Kong Public Offer.

  • However, the provisions of Clauses 1 (Definitions and Interpretation), 20 (Governing Law), 21 (Arbitration), 23 (Severability), 15 (Indemnity and Contribution), 7 (Fees, Commissions and Expenses), 14 (Confidentiality), 16 (Termination), and 27 (Notices) shall survive any termination of this Agreement.