RECEIPT OF SEABOARD PREMIUM PAYMENTS Clause Samples

RECEIPT OF SEABOARD PREMIUM PAYMENTS. On behalf of Seaboard Life, the Administrator shall receive and credit all Seaboard Premium payments made by Covered Groups, and shall make all cash adjustments for Seaboard Premium refunds and other required cash transfers with respect to such Seaboard Premium payments, in accordance with procedures reasonably required by Seaboard Life. Any Seaboard Premium payments that are received by the Administrator shall be deemed to have been received by Seaboard Life, but the payment of return Seaboard Premium amounts by Seaboard Life to the Administrator shall not be deemed payment to an insured or claimant until such payment is received by such insured or claimant. Nothing in this SECTION 3.C.2 shall limit any right of Seaboard Life against the Administrator resulting from the Administrator's failure to make payments to Seaboard Life or to any insured claimant.
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Related to RECEIPT OF SEABOARD PREMIUM PAYMENTS

  • Premium Payments The insurance companies shall have no recourse against the County and funding agencies, its officers and employees or any of them for payment of any premiums or assessments under any policy issued by a mutual insurance company.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Minimum Payments (a) Where the employee is under 45 years of age, the employer shall pay the employee Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 7 weeks pay 3 years and less than 4 years 10 weeks pay 4 years and less than 5 years 12 weeks pay 5 years and less than 6 years 14 weeks pay 6 years and over 16 weeks pay. (b) Where the employee is 45 years of age or over, the employer shall pay the employee in accordance with the following scale: Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 8.75 weeks pay 3 years and less than 4 years 12.5 weeks pay 4 years and less than 5 years 15 weeks pay 5 years and less than 6 years 17.5 weeks pay 6 years and over 20 weeks pay

  • Premium Pay “Premium Pay” is a special pay rate for working during times that are less desirable, such as weekends, holidays or late shifts. The City will not pay the Consultant Premium Pay.

  • Minimum Payment Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.