Examples of Serviced Business in a sentence
FEES FOR SERVICES; EXPENSE REIMBURSEMENT 13 Section 4.1. Fees for Services 13 Section 4.2. Expense Reimbursement 13 Section 4.3. Fees for Serviced Business 13 Article V.
As consideration for the performance of the Services with respect to the Serviced Business, the Company shall pay to the Administrator the fees set forth on Schedule IV.
Each net amount due to the Administrator or the Company with respect to any period reflected in a Serviced Business Cash Flow Report and Net Settlement Statement shall be paid in cash by the owing Party no later than ten (10) Business Days after receipt by the Company of the Serviced Business Cash Flow Report and Net Settlement Statement.
The Parties agree that each payment under the Serviced Business that is advanced by the Administrator on behalf of the Company hereunder shall incur interest from the date of payment by the Administrator to the date of reimbursement by the Company calculated at the 90-day Treasury rate as of the date of payment of such benefit plus 100 basis points.
PARIS RE will grant or, to the extent already granted, maintain reasonable access (during normal business hours, without undue disruption to PARIS RE’s business) or cause access to be granted or maintained (if held by another PARIS RE Group entity) to AXA RE and its Affiliates to all Records relating to the Serviced Business.
Policy administration, including the giving and receiving of all notices and reports required or permitted or as may be given or received in the ordinary course of the administration of the Policies; pricing, preparation of documents and issuance of Policies; preparation, review, agreement and signing of all endorsements or amendments with respect to the Accommodation Business; preparation, review, agreement and signing of all endorsements or amendments with respect to all other Serviced Business.
Such other services not specifically enumerated above as are reasonably necessary for the orderly administration and run off of the Serviced Business.
Except as provided in Section 5.4(3), PARIS RE shall pay the expenses of any litigation, arbitration or any regulatory proceeding or other matter with respect to the Serviced Business or Inuring Retrocessions.
With respect to Policies that are not part of the Guaranteed Portfolio (as defined in the Reserve Agreement), commutations of the Policies included within the Serviced Business as PARIS RE shall determine to be appropriate.
The Services to be rendered by PARIS RE with respect to the Serviced Business (including the Accommodation Business), extending also to all dealings with related Inuring Retrocessions and salvage, subrogation or other recoveries arising with respect to the Serviced Business are set forth in Schedule 3.1.