Net Amount Due definition
Examples of Net Amount Due in a sentence
Each subtotal should include: Policy Count (Life - separately for New Business, Renewals and Combined) Reinsurance Death Benefit (separately for New Business, Renewals and Combined) Reinsurance Premium (separately for First Year, Renewals and Combined) Reinsurance Commission (separately for First Year, Renewals and Combined) Net Amount Due the Pool (separately for First Year, Renewals and Combined).
A grand total of Reinsurance Premium, Reinsurance Commission and Net Amount Due the Pool, including all in force and amendments, should be shown (separately for First Year, Renewals and Combined categories).
If the Net Amount Due is negative, then the Reinsurer shall, within fifteen (15) Business Days of the end of each Accounting Period, remit to the Company the absolute value of such amount.
Within twelve (12) Business Days after the end of -------------------- each Accounting Period, the Reinsurer shall provide a Periodic Settlement Report to the Company setting out the Reinsurance Premium, the Reinsured Claims and the Net Amount Due for such period.
Alternatively, the Company and Customer may agree in Writing to the changes in the Net Invoice Value or the Net Amount Due.
Within fifteen (15) Business Days of the end of each Accounting Period, the Company shall remit the Net Amount Due to the Reinsurer, if such amount is positive.
The Net Amount Due will equal the Reinsurance Premium less Reinsured Claims.
In the event that there is any delay caused by any instructions or the lack thereof on the part of the Customer, the Company reserves the right, by giving notice to the Customer at any time before delivery of the Vehicle to increase the Net Invoice Value or the Net Amount Due (whichever is applicable).
K[NO.] Campaign Pricing (Inclusive rates, except as provided for in Section 4 of the MDA) (Expressed in US dollars assuming a $/ € rate of [***], actual pricing subject to currency adjustments as provided in the MDA.) Materials $ *** Manufacturing $ Net Amount Due for Manufacturing Activities of K[NO.] Campaign $ Installations* $ 0 Total Amount Due for K[NO.] Campaign $ * Installations include: N/A *** Estimated cost based on a [***].
If one party gives notice to the other that it does not intend to pay the Net Amount Due as defined in this agreement, or if after 45 days written notice refuses to pay the Net Amount Due, then the other party is entitled to breach damages and may cancel for non payment, and if it chooses, not to pay any further amounts.