Examples of Subject Premium in a sentence
As consideration for entering into this Agreement, the Company shall transfer to the Reinsurer, not later than October 30, 2007, the portion of premium attributable to Covered Business ceded to the Company by each Affiliate equal to the Subject Premium that is unearned as of the Effective Time (the "Initial Premium").
The Company acknowledges and agrees that the net amount of Subject Premium due to the Reinsurer hereunder (being the Reinsurer’s proportionate share of Subject Premium less the ceding commission described in Article VI hereof) shall not be reduced as a result of or in order to pay such Federal Excise Tax, if any.
The Provisional Premium will be calculated by applying the provisional rate of 12.5% to the actual Subject Premium for this Agreement.
For greater certainty, ARBL shall be entitled to the foregoing rate of compensation with respect to Maiden’s quota share of the Subject Premium (as defined in the Initial Reinsurance Agreements) ceded to it from time to time under the Initial Reinsurance Agreements.
The adjusted premium will be calculated according to the following formula: Subject Premium, multiplied by 4.5%, plus 105% of Incurred Losses, including Allocated Loss Adjustment Expenses.