SHARE OF PREMIUMS Sample Clauses

SHARE OF PREMIUMS. 5.1 The Insurer shall be entitled to share in all premiums received by the SPF Manager in respect of ARP Coverage and other coverage arranged by the SPF Manager pursuant to paragraph 2.12, in each case, incepting in the relevant Indemnity Period, and to share in investment income earned on all such premiums, in accordance with its Percentage Participation from time to time, subject to such deductions therefrom as the SPF Manager considers reasonable and necessary in its discretion for the proper and efficient operation of the SPF (or any part of it) in respect of that Indemnity Period. 5.2 The SPF Manager shall account to each Participating Insurer for its proportionate share of the sums remaining following any deductions in accordance with paragraph 5.1 on or about the end of each calendar quarter. 5.3 The SPF Manager shall maintain all premiums received in respect of ARP Coverage in a separate trust account, held by the SPF Manager on trust for all Participating Insurers that participate in the ARP during the respective Indemnity Period in their respective shares and for their respective interests.
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SHARE OF PREMIUMS. 5.1 The Insurer shall be entitled to share in all premiums received by the SPF Manager in respect of ARP Coverage, other coverage arranged by the SPF Manager pursuant to paragraph 2.13, and all premiums received in respect of distressed firms and/or non-compliant run-off firms, in each case, incepting in the relevant Indemnity Period, and to share in investment income earned on all such premiums, in accordance with its Percentage Participation from time to time, subject to such deductions therefrom as the SPF Manager considers reasonable and necessary in its discretion for the proper and efficient operation of the SPF (or any part of it) in respect of that Indemnity Period. 5.2 The SPF Manager shall account to each Participating Insurer for its proportionate share of the sums remaining following any deductions in accordance with paragraph 5.1 on or about the end of each calendar quarter. 5.3 The SPF Manager shall maintain all premiums received in respect of ARP Coverage in a separate trust account, held by the SPF Manager on trust for all Participating Insurers that participate in the ARP during the respective Indemnity Period in their respective shares and for their respective interests. 5.4 The SPF Manager shall maintain all premiums received in respect of distressed firms and non- compliant run-off firms in a separate trust account, held by the SPF Manager on trust for all Participating Insurers that participate in the ROF during the respective Indemnity Period in their respective shares and for their respective interests.
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Related to SHARE OF PREMIUMS

  • Allocation of Premiums No premium shall be paid under the Bond unless the Board of Trustees of the Trust, including a majority of those Trustees who are not “interested persons” of the Trust as defined by Section 2(a)(19) of the 1940 Act, shall approve the portion of the premium to be paid by the Trust, on behalf of each Fund. The premium payable on the Bond shall be allocated between the Trust and the Manager as determined by the Board of Trustees of the Trust.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Reinsurance Premiums A. The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article. B. The Reinsurance Premium rates and structure described above are subject to change in accordance with the criteria described in Article XV. GMDB AND EPB ------------ C. The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article. GMDB CESSION PREMIUM -------------------- D. The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II. E. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month. This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis. EPB CESSION PREMIUM ------------------- F. The EPB Reinsurance Premium is an asset-based premium rate, expressed in terms of basis points, and is defined in Exhibit II. G. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the average aggregate account value for the reporting month. This value shall be applied to the annualized EPB reinsurance premium rates per premium class on a 1/12th basis. The total EPB Cession Premium due for the month is the sum of the premiums calculated for each premium class. SPOUSAL CONTINUANCES -------------------- H. Spousal continuances will be covered under this Agreement to the extent that the surviving spouse satisfies the issue age restrictions and benefit limitations, as described in Schedule A, at time of continuance, and shall be deemed to be terminations followed by subsequent new issues for purposes of calculating Reinsurance Premiums. The new reinsurance premium rate applied shall be based off the attained age of the surviving spouse at the time of election of spousal continuance. After the termination of this Agreement for new cessions, a spousal continuation of a Reinsured Contract may be ceded to this Agreement in accordance with the procedure set forth in Article I, Paragraph D. GMIB ---- I. The GMIB cession premium ("GMIB Reinsurance Premium") is an asset-based premium rate, expressed in terms of basis points, as set forth in Exhibit II, and shall be calculated on an aggregate basis. J. The Cedent shall calculate the Reinsurer's Percentage of the greater of the average aggregate IBB value and the average aggregate account value for the reporting month. This value shall be applied to the annualized GMIB cession premium rates on a 1/12th basis.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.