Bermuda P&I Class Rules 2001/2002 - The Standard Club

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Supplementary Calls
15.3.1 At any time or times during or after the end of each Policy Year (but not
after such Policy Year has been closed) the Board may decide to levy
from the Members who have or had ships entered for insurance in
respect of that year (other than fixed premium entries) one or more
Supplementary Calls. Such Supplementary Call or Calls shall be
calculated by reference to such percentage of the Advance Call as the
Board may in its discretion decide.
15.3.2 Notwithstanding the provisions of paragraph 3.1 above, the Managers
may agree with a Member for the payment of an estimated
Supplementary Call to be paid with the Advance Call but such
agreement shall not relieve that Member from the obligation to pay the
balance, if any, of any Supplementary Call as may be levied by the Board.
Overspill Calls
15.4.1 The funds required to pay any Overspill Claim incurred by the Club
shall be provided
(i) from such sums as the Club is able to recover from the other parties to
the Pooling Agreement as their contributions to the Overspill Claim, and
(ii) from such sums as the Club is able to recover from any special insurance
which may, in the discretion of the Board, have been effected to protect
the Club against the risk of payments of Overspill Claims, and
(iii) from such proportion as the Board in its discretion determines of any
sums standing to the credit of such reserves as the Board may in its
discretion have established, and
(iv) by levying one or more Overspill Calls in accordance with Rules 15.4.3
to 15.4.6, irrespective of whether the Club has sought to recover or has
recovered all or any of the sums referred to in Rule 15.4.1.ii but
provided the Board shall first have made a determination in accordance
with Rule 15.4.1.iii, and
(v) from any interest accruing to the Club on any funds provided as
aforesaid.
15.4.2 The funds required to pay such proportion of any Overspill Claim
incurred by any other party to the Pooling Agreement which the Club is
liable to contribute under the terms of the Pooling Agreement shall be
provided in the manner specified in Rules 15.4.1.ii, iii, iv and v.