Insurance Cost Decrease definition

Insurance Cost Decrease means the Insurance Cost Differential if the value thereof is less than zero, multiplied by minus one; "Insurance Cost Differential" shall, subject to the Insurance Review Procedure, be determined as follows: Insurance Cost Differential = (XXXX – BRIC) – (PIC) where: XXXX is the Actual Relevant Insurance Cost BRIC is the Base Relevant Insurance Cost PIC is any Project Insurance Change
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Insurance Cost Decrease means the Insurance Cost Differential if the value thereof is less than zero, multiplied by minus one;
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Insurance Cost Decrease the Insurance Cost Differential if the value thereof is less than zero, multiplied by minus one; "Insurance Cost Differential" shall, subject to the Insurance Review Procedure, be determined as follows:- Insurance Cost Differential = (XXXX – BRIC) – (±PIC) where: XXXX is the Actual Relevant Insurance Cost BRIC is the Base Relevant Insurance Cost PIC is any Project Insurance Change "Insurance Cost Increase" the Insurance Cost Differential if the value thereof is greater than zero; "Insurance Cost Index" any index introduced by the United Kingdom Government or the Office of National Statistics after the date of this Contract and which is anticipated to be published annually to provide an independent and objective measure of changes in prevailing market insurance costs; "Insurance Review Date" the First Insurance Review Date and, thereafter, each date falling on the second anniversary of the previous Insurance Review Date, except where such date lies beyond the end of the Contract Period, in which case the Insurance Review Date shall be the last renewal date of the Relevant Insurance prior to the end of the Contract Period;
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Examples of Insurance Cost Decrease in a sentence

  • Insurance Cost Decrease means the [Insurance Cost Differential] if the value is less than zero, multiplied by minus one.

  • Exceptional Saving means for an [Insurance Review Period], the extent to which there is an [Insurance Cost Decrease] which exceeds 30% of the [Base Benchmarked Insurance Cost] for that [Insurance Review Period].


More Definitions of Insurance Cost Decrease

Insurance Cost Decrease means the Insurance Cost Differential if the value thereof is
Sample 1
Insurance Cost Decrease means the Insurance Cost Differential if the value is less than zero, multiplied by minus one. Insurance Cost Differential shall, subject to the Insurance Premium Benchmarking Procedure, be determined as follows: Insurance Cost Differential = (ABIC - BBIC) - (+/-PIC), where: ABIC is the Actual Benchmarked Insurance Cost; BBIC is the Base Benchmarked Insurance Cost; and PIC is any Project Insurance Change;
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Insurance Cost Decrease the Insurance Cost Differential if the value thereof is less than zero (0), multiplied by minus one (1);
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Related to Insurance Cost Decrease

  • Base Year means the period set forth in Section 5 of the Summary.

  • SO2 Allowance means “allowance” as defined at 42 U.S.C. § 7651a(3): “an authorization, allocated to an affected unit by the Administrator of EPA under Subchapter IV of the Act, to emit, during or after a specified calendar year, one ton of sulfur dioxide.”

  • Loss Adjustment Expenses means all costs and expenses incurred by the Company in the investigation, adjustment and settlement of claims. Loss adjustment expenses include third-party costs as well as the Company’s internal expenses, including salaries and expenses of loss management personnel and certain administrative costs.

  • NOx Allowance means an authorization to emit a specified amount of NOx that is allocated or issued under an emissions trading or marketable permit program of any kind that has been established under the Clean Air Act or a state implementation plan.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Operating Expenses shall include all costs to the Lessor of operating and maintaining the Premises, and shall include, without limitation, real estate and personal property taxes and assessments, management fee(s), heating, air conditioning, HVAC, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Premises and related parking areas, unless expressly excluded from operating expenses.