Examples of Expense Allowance in a sentence
Advances will be made based on the Company’s paid and reported outstanding Losses for Covered Policies (excluding all incurred but not reported Losses) as reported on a Proof of Loss Report, and shall include a Loss Adjustment Expense Allowance as calculated by the FHCF.
If the Reinsurance Expense Allowance for the Accounting Period is a negative amount, the Ceding Company shall owe the absolute value of such amount to the Reinsurer.
If the Reinsurance Expense Allowance for the Accounting Period is a positive amount, the Reinsurer shall owe such amount to the Ceding Company.
The Expense Allowance, the Covered Business Miles and the Reimbursement Rate shall be reviewed annually by the Compensation Committee of the Bank Board and, if increased, shall be reflected in an addendum hereto.
Such Expense Allowance shall take into account the federal and state income tax effect on the Executive of receipt of such allowance.