PAYMENT OF PREMIUM definition

PAYMENT OF PREMIUM. The Buyer shall through his broker and through ACYRSA pay the Premium to the Seller on the Premium Payment Date Calculation Date: 3 Business Days following the Index Publication Date Payment Date: 7 Business Days following the Calculation Date Index Unit: 1 Index Unit corresponds to 0.01 Index points Trade Payment Amount: The sum of the Payment Amount, if positive, should be paid on the Payment Date by Party A to ACYRSA Business Days: Any day except Saturday, Sunday or a public holiday in Houston, Texas or Argentina Index Provider: S4, ▇▇▇ ▇.▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇, Retiro, CABA, Argentina Protected Crops: N/A Geographic Scope: Geographical Departments or Tiles (= grids of 0.2°x0.2° distinguishable by TileID) of a Geographical Departments as defined in Annex 1 in the Provinces of Buenos Aires, Catamarca, Chaco, Córdoba, Entre ▇▇▇▇, La Pampa, Salta, San ▇▇▇▇, Santa Fe, ▇▇▇▇▇▇▇▇ Del Estero and Tucuman (Republic of Argentina) and in Uruguay (Colonia, Rio Negro, ▇▇▇▇▇▇, Florida, Durazno, Paysandú, San ▇▇▇▇, ▇▇▇▇▇▇▇) Geographical Department/Tile Protected Capital (USD): Maximum payment for each Geographical Department/Tile, as defined in Annex 1 Geographical Department/Tile Premium (USD): Premium for each Geographical Department/Tile, as defined in Annex 1 Transaction Type: S4Flood Index Call Option Call Option Buyer: Party B Call Option Seller: Party A Geographical Department/Tile Settlement Level: S4Flood Index, measured in Index Units for each Geographical Department/Tile; calculated by the Index Provider in accordance with the procedure detailed in Annex 2 Geographical Department/Tile Strike Level: Strike defined in Index Units for each Geographical Department/Tile according to Annex 1 Geographical Department/Tile Notional Amount: 0.01 times Geographical Department/Tile Protected Capital, rounded to the nearest thousandth. Geographical Department/Tile Payment Amount: If the Geographical Department/Tile Settlement Level is greater than the Geographical Department/Tile Strike Level, then the Call Option Seller shall pay to the Call Option Buyer on the relevant Payment Date an amount equal to the lesser of: (a) an amount equal to (i) the excess of the Geographical Department/Tile Settlement Level over the Geographical Department/Tile Strike Level, rounded to the nearest whole number, (ii) multiplied by the Geographical Department/Tile Notional Amount; or (b) the Geographical Department/Tile Protected Capital. Payment Amount: The sum of Geographical Department/Tile Pay...
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PAYMENT OF PREMIUM. The premium payable under this policy shall be paid in advance. No receipt for premium shall be valid except on the official form of the Company signed by a duly authorized official of the company. The due payment of premium and the observance and fulfilment of the terms, provisions, conditions and endorsements of this policy by the Insured Person in so far as they relate to anything to be done or complied with by the Insured Person shall be condition precedent to any liability of the Company to make any payment under this policy. No waiver of any terms, provisions, conditions and endorsements of this policy shall be valid, unless made in writing and signed by an authorised official of the Company.
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Examples of PAYMENT OF PREMIUM in a sentence

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, THE ISSUING COMPANY SHALL PROVIDE CITY AT LEAST A TEN (10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, THE CONTRACTOR SHALL PROVIDE CITY AT LEAST A TEN (10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.

  • It cancels and replaces any DECLARATIONS AND PAYMENT OF PREMIUM Endorsement which may have been previously issued.

  • Effective notice must indicate the total Optional Extended Reporting Period desired AND MUST INCLUDE PAYMENT OF PREMIUM FOR SUCH PERIOD.

  • PAYMENT OF PREMIUM When net reinsurance premiums due to the Reinsurer on the basis of the monthly reports prepared by the Ceding Company as described in Schedule B are undisputed and not paid within sixty (60) days of the date specified in Section 8.02, the Reinsurer shall have the right to terminate this Agreement by giving the Ceding Company thirty (30) days written notice.

  • PAYMENT OF PREMIUM All premium payments shall be paid to us at our Servicing Office.

  • Policy Number: CG 1 22818 DECLARATIONS AND PAYMENT OF PREMIUM This Endorsement forms part of the Policy.

  • WAGE REVISIONS 67 CHAPTER 14 DURATION 68 8.0 PAYMENT OF PREMIUM ETC.

  • SECTION C – PAYMENT OF PREMIUM DURING SICKNESS AND PERIODS OF NO EARNINGS Employees who have no earnings during the payroll period for which deductions are to be made will be required to pay their proportion of the premium direct to the Authority.

  • IF THE POLICY IS CANCELED BEFORE ITS EXPIRATION DATE FOR THE NON- PAYMENT OF PREMIUM, DBE SHALL PROVIDE CITY ATLEAST A TEN (10) DAY WRITTEN NOTICE BEFORE THE EFFECTIVE DATE OF CANCELLATION.