First Layer Clause Samples

The "First Layer" clause establishes the initial level of responsibility, coverage, or payment in a multi-tiered arrangement, such as insurance or liability agreements. Typically, this clause defines the scope and limits of the first party's obligations before any secondary or excess layers are triggered; for example, an insurer may cover losses up to a certain amount, after which another insurer or party becomes responsible. Its core function is to clearly delineate the starting point and boundaries of primary obligations, ensuring all parties understand when and how subsequent layers of responsibility are activated.
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First Layer. 1. The premium for the reinsurance provided under this Agreement shall be computed at the rate of 11.13% of the Company’s gross net written premium on the business covered hereunder. 2. The annual minimum premium for the reinsurance provided under this Agreement is $764,000. 3. The annual deposit premium for the reinsurance provided under this Agreement is $898,000.
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First Layer. FCIC’s participation on this layer shall be ninety percent (90%) of the amount by which the Company’s aggregate ultimate net losses exceeds one hundred and fifty percent (150%) but is less than five hundred percent (500%) of aggregate net book premium retained by the Company.
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First Layer. The Company shall retain the first $90,000 of ultimate net loss each risk, each occurrence. The Reinsurer shall indemnify the Company for 100% of the amount by which the ultimate net loss exceeds the Company’s retention, but the liability of the Reinsurer shall not exceed $160,000 ultimate net loss each risk, each occurrence, and is further subject to the limits set forth below: $480,000 ultimate net loss for all risks in any one loss occurrence. $480,000 ultimate net loss in the aggregate for all loss occurrences each calendar year.
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First Layer. As respects First Professionals Insurance Company: Deposit premium of $28,350,000 payable in equal quarterly installments of $7,087,500, at January 1, April 1, July 1, and October 1, 2003. Adjustable at a rate of 13.5% of GNWP allocated by the Company to the first $1,000,000 of policy limits within 60 days after Agreement expiration on a provisional basis.
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Related to First Layer

  • Framework Management Structure The Supplier shall provide a suitably qualified nominated contact (the “Supplier Framework Manager”) who will take overall responsibility for delivering the Goods and/or Services required within this Framework Agreement, as well as a suitably qualified deputy to act in their absence. The Supplier shall put in place a structure to manage the Framework in accordance with Framework Schedule 2 (Goods and/or Services and Key Performance Indicators). A full governance structure for the Framework will be agreed between the Parties during the Framework Agreement implementation stage. Following discussions between the Parties following the Framework Commencement Date, the Authority shall produce and issue to the Supplier a draft Supplier Action Plan. The Supplier shall not unreasonably withhold its agreement to the draft Supplier Action Plan. The Supplier Action Plan shall, unless the Authority otherwise Approves, be agreed between the Parties and come into effect within two weeks from receipt by the Supplier of the draft Supplier Action Plan. The Supplier Action Plan shall be maintained and updated on an ongoing basis by the Authority. Any changes to the Supplier Action Plan shall be notified by the Authority to the Supplier. The Supplier shall not unreasonably withhold its agreement to any changes to the Supplier Action Plan. Any such changes shall, unless the Authority otherwise Approves, be agreed between the Parties and come into effect within two weeks from receipt by the Supplier of the Authority’s notification. Regular performance review meetings will take place at the Authority’s premises throughout the Framework Period and thereafter until the Framework Expiry Date (“Supplier Review Meetings”). The exact timings and frequencies of such Supplier Review Meetings will be determined by the Authority following the conclusion of the Framework Agreement. It is anticipated that the frequency of the Supplier Review Meetings will be once every month or less. The Parties shall be flexible about the timings of these meetings. The purpose of the Supplier Review Meetings will be to review the Supplier’s performance under this Framework Agreement and, where applicable, the Supplier’s adherence to the Supplier Action Plan. The agenda for each Supplier Review Meeting shall be set by the Authority and communicated to the Supplier in advance of that meeting. The Supplier Review Meetings shall be attended, as a minimum, by the Authority Representative(s) and the Supplier Framework Manager.

  • Technical Consultations If a Party has a significant concern with respect to food safety, plant health, or animal health, or an SPS measure that the other Party has proposed or implemented, that Party may request technical consultations with the other Party. The Party that is the subject of the request should respond to the request without undue delay. Each Party shall endeavour to provide the information necessary to avoid a disruption to trade and, as the case may be, to reach a mutually acceptable solution.

  • Programming Phase Schematic Design Phase: 2.2.1.3. Design Development Phase:

  • Radiation Therapy/Chemotherapy Services This plan covers chemotherapy and radiation services. This plan covers respiratory therapy services. When respiratory services are provided in your home, as part of a home care program, durable medical equipment, supplies, and oxygen are covered as a durable medical equipment service.

  • JOINT CONSULTATION 25.01 The parties acknowledge the mutual benefits to be derived from joint consultation and will consult on matters of common interest. 25.02 The subjects that may be determined as appropriate for joint consultation will be by mutual agreement of the parties. 25.03 Wherever possible, the Council shall consult with representatives of the Professional Institute at the appropriate level about contemplated changes in conditions of employment or working conditions not governed by this Agreement.