Premium Amount Sample Clauses
The "Premium Amount" clause defines the specific sum of money that one party, typically the insured, is required to pay to the other party, usually the insurer, as consideration for coverage under an insurance policy. This clause outlines the exact amount due, the frequency of payments (such as monthly or annually), and may specify the method of payment. By clearly stating the premium amount and payment terms, the clause ensures both parties understand their financial obligations, thereby preventing disputes and ensuring the policy remains in force as long as payments are made.
Premium Amount.ÌýThe Board shall pay the following premiums for individual employee’s health and dental insurance for the life of this contract.
1. For employees that elect dental insurance, the Board shall provide a maximum of $10.80 per month towards the elected dental insurance in accordance with the term and schedule of benefits currently in effect.
a. The Board agrees to pay 100% of the health insurance premiums for the Health Care Premier Plus Plan (High Option HMO), Premier Plan (Low Option HMO), and Consumer Driven Plan coverage for the individual employee for the term of this agreement. Employees wishing to participate in the Premier Plus Plan must complete wellness initiatives and timelines as recommended by the Superintendent’s Insurance Advisory Committee. Personal Health Information (PHI) that is gathered from the wellness initiatives are protected by the Health Insurance Portability Accountability Act (HIPPA). Employees shall not be denied health insurance due to results of participating in the wellness initiatives.
b. All new employees may elect to enroll in a Board-offered plan of their choice subject to conditions for enrollment in such plan.
2. After the Board has entered into a contract(s) with one or more vendors to provide group health insurance to bargaining unit members, benefit levels and premiums will be reviewed and established annually. Either party may demand negotiations through the Superintendent or designee to amend benefit levels for the specific purpose of cost containment, (e.g., co-payments, deductibles, etc.).
3. An employee eligible for health insurance may voluntarily decline such insurance. Beginning in the 2014 Open Enrollment Period, an employee declining medical insurance shall be required to sign an affidavit indicating other medical coverage and provide proof of other medical insurance during the open enrollment period each year. Employees shall be responsible to maintain proof of continuing medical insurance. Employees choosing not to participate in the School Board of Broward County’s medical health insurance program shall be reimbursed at a rate of seven hundred fifty dollars and no cents ($750.00) per year (opt-out dollars) only if such proof is provided. If employee does not provide proof of other medical insurance, then employee will not be reimbursed any opt-out dollars. Said opt-out dollars shall be deposited into the employee’s cafeteria plan and those opt-out dollars may be used in a manner consistent with the provision...
Premium Amount.ÌýSection 2.06(d) of the Credit Agreement is hereby amended and restated in its entirety as follows:
Premium Amount.ÌýProperty
Premium Amount.ÌýIn the event that all or any portion of the Loans are (i) repaid, prepaid (other than in connection with an LTV Cure or as a result of an Event of Loss), refinanced or replaced or (ii) repriced or effectively refinanced through any waiver, consent or amendment (in each case, in connection with any waiver, consent or amendment to the Loans directed at, or the result of which would be, the lowering of the effective interest cost or the weighted average yield of the Loans or the incurrence of any debt financing having an effective interest cost or weighted average yield that is less than the effective interest cost or weighted average yield of the Loans (or portion thereof) so repaid, prepaid, refinanced, replaced or repriced) occurring on or prior to the first anniversary of the Effective Date, such repayment, prepayment, refinancing, replacement or repricing will be made at 101.0% of the principal amount so repaid, prepaid, refinanced, replaced or repriced (the “Premium Amountâ€�).
Premium Amount.ÌýIn the event that all or any portion of the Loans are (i) repaid, prepaid (other than in connection with an LTV Cure or as a result of an Event of Loss), refinanced or replaced or (ii) repriced or effectively refinanced through any waiver, consent or amendment (in the case of both (i) and (ii) above, in connection with any waiver, consent or amendment to the Loans directed at, or the result of which would be, the lowering of the effective interest cost or the weighted average yield of the Loans or the incurrence of any debt financing having an effective interest cost or weighted average yield that is less than the effective interest cost or weighted average yield of the Loans (or portion thereof) so repaid, prepaid, refinanced, replaced or repriced) occurring after the Fourth Amendment Effective Date but prior to or on the six month anniversary of the Fourth Amendment Effective Date, such repayment, prepayment, refinancing, replacement or repricing will be made at 101.0% of the principal amount so repaid, prepaid, refinanced, replaced or repriced (the “Premium Amountâ€�).â€�
Premium Amount.ÌýThe Board shall pay the following premiums for individual employeesâ€� health and dental insurance for the life of this contract:
1. The Board shall provide a maximum of $10.80 per month toward the elected dental insurance in accordance with the term and schedule of benefits currently in effect.
a. The Board agrees to pay 100% of the health insurance premiums for the Health Care Premier Plus Plan (High Option HMO), Premier Plan (Low Option HMO), and Consumer Driven Plan coverage for the individual employee for the term of this agreement. Employees wishing to participate in the Premier Plus Plan must complete wellness initiatives and timelines as recommended by the Superintendent’s Insurance Advisory Committee. Personal Health Information (PHI) that is gathered from the wellness initiatives are protected by the Health Insurance Portability Accountability Act (HIPAA). Employees shall not be denied health insurance due to results of participating in the wellness initiatives.
Premium Amount.ÌýAfter payment of the amounts specified in clause (i) above, the Premium Amount to the Note Insurer;
Premium Amount.ÌýHolder agrees that upon the conversion of the Preferred Stock, Holder will contribute to EPL that number of Conversion Shares equal to the Premium Amount set forth in Exhibit C as an additional contribution to capital by the Holder, to be held by EPL as treasury shares pursuant to the Colorado Business Corporation Act. With respect to such contribution to capital, the Holder agrees that upon the conversion of the Preferred Stock, EPL may retain in its treasury the amount of Conversion Shares equal to the Premium Amount.
Premium Amount.ÌýThe amount of premium to be paid on each due date will be determined in these ways:
a. Employee Life Insurance � Basic The total certified payroll multiplied by the premium rate then in effect.
Premium Amount.Ìý1. The Board shall pay the following premiums for individual employees health and dental insurance for the life of this contract.
a. The premiums paid by For employees that elect dental insurance, the Board shall b e to provide employee’s elected group health insurance plan (Humana/VISTA PPO plan or the Humana/VISTA HMO option or the Humana Consumer Driven Plan) plus provide a maximum of $10.80 per month towards the elected dental insurance in accordance with the term and schedule of benefits currently in effect. The parties agree that the current insurance vendors may be deleted or new vendors added as providers as a result of future RFP health insurance awards.