Deposit Premium definition

Deposit Premium means a provisional premium which is agreed upon in the event of it being impossible at the due date of the premium to determine the exact premium, and which represents a reasonable estimate of the premium;

Deposit Premium means the estimated amount determined for each Member Entity necessary to fund each layer of coverage for each Policy Year of each Program of PARSAC.

Deposit Premium means that amount to be paid by each Participant for each program year as determined by the Board in accordance with Article III, Section C of this MPD.

Examples of Deposit Premium in a sentence

• If the resulting earned premium is less than the Deposit Premium, if any, then We will return the excess to the Policyholder.

• If the resulting earned premium is greater than the Deposit Premium, if any, then We will bill the Policyholder for the additional premium.

• However, if the difference between the amount, shown as "Annual Deposit Premium" for that excess layer in Schedule A attached hereto, and the premium calculated in accordance with this paragraph A for the excess layer is less than a 5.0% increase or decrease, the premium due the Reinsurer shall equal the amount, shown as "Annual Deposit Premium" for that excess layer in Schedule A attached hereto.

• The amount, shown as "Annual Deposit Premium" for that excess layer in Schedule A attached hereto; times 2.

• The Company shall pay the Reinsurer an annual deposit premium for each excess layer of the amount, shown as "Annual Deposit Premium" for that excess layer in Schedule A attached hereto, in four equal installments of the amount, shown as "Deposit Premium Installment" for that excess layer in Schedule A attached hereto, on July 1 and October 1 of 2020, and on January 1 and April 1 of 2021.

More Definitions of Deposit Premium

Deposit Premium means the estimated amount determined for each Member Entity necessary to fund each layer ofcoverage for each Policy Year ofeach Program of PARSAC.

Deposit Premium shall have the meaning set forth in Section 3.1(a)(i) hereof.

Deposit Premium means the annual dollar amount determined by the Board of Directors or Executive Committee which is payable by each Member as its established share of the funding required to cover the financial obligations of each Coverage Program in which the Member participates.

Deposit Premium has the meaning set forth in Section 2.1(b)(i).

Deposit Premium is defined in Section 2.6(b).

Deposit Premium means the amount determined by the Executive Committee annually, as necessary to fund each joint protection program of the Authority.

Deposit Premium means the amount specified in the Schedule including IPT that the Insured is required to pay to the Insurer at the Policy Commencement Date. This Deposit Premium is not contingent upon a Successful Outcome being achieved and is non-refundable.