DEFERRED PREMIUMS CLAUSE (120 days)
- Sunday, December 18, 2016, 12:43
- D-Clauses
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It is hereby understood and agreed that the premium shall be paid in the following installments :
1st installment – 25% of 100% premium due date 30th December 2004
2nd installment – 25% of 100% premium due date 30th January 2005
3rd installment – 25% of 100% premium due date 28th February 2005
4th installment – 25% of 100% premium due date 30th March 2005
Nevertheless it is further understood and agreed that :
It is a condition that in the event of any installment not being paid by its due date the cover afforded by this Policy shall be deemed to have ceased at midnight of such due date.
In the event of a claim hereunder which exceeds the installment of premium paid on this policy the installment of premium then outstanding shall become payable forthwith.
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