Accounting and Reporting Services. With respect to the Reinsured Policies, the Service Provider shall perform all accounting and reporting of direct and ceded premiums, claims and other policyholder disbursements, reserves, policy loans, commissions, and premium Tax payments and accruals. Such services shall include all accounting and reporting necessary to provide the Company with all required statutory, regulatory, and GAAP data needed for financial statements and filings and state and federal income and premium Tax reporting and filings. Without limiting the generality of the foregoing, the Service Provider shall provide the following reports to the Company in a format mutually agreed upon between the Company, and the Service Provider:
(a) Monthly, within the time period after the end of each month indicated below, the Service Provider shall furnish the Company with:
(i) General Trial Balance with all monthly cash activity - within six (6) Business Days
(ii) Non-ledger transactions - by the sixth (6th) Business Day
(iii) Actuarial reporting
1) By the sixth (6th) Business Day, In-force file
2) By the eighth (8th) Business Day, estimated SAP and GAAP reserves. SAP reserves will be calculated in accordance with the definition of Statutory Reserves as defined in the Coinsurance Agreement GAAP reserves will be calculated consistent with the reserving factors and methods to be provided to the Service Provider by the Company and otherwise in accordance with standard actuarial practices and guidelines, with final report to be furnished by the tenth (10th) Business Day
3) By the eighth (8th) Business Day, estimated Policy Exhibit, with final report to be furnished by the tenth (10th) Business Day
(iv) Policy Loan activity report - by the sixth (6th) Business Day
(b) Quarterly, within the time period after the end of each quarter, the Service Provider shall, in addition to the normal monthly reporting (which shall also reflect FAS 97 GAAP reporting including reserves and reserve components), furnish the Company with:
(i) By the eighth (8th) Business Day, estimated Reserve, Premium, and In Force report, with itemization of paid amounts, with final report to be furnished by the tenth (10th) Business Day.
(ii) By the eighth (8th) Business Day, estimated FAS 97 GAAP reporting (including GMDB, IBNR and pending claims), with final report to be furnished by the tenth (10th) Business Day.
(iii) Schedule T information -- within six (6) Business Days (c) Annually, within the time period indicated below, the...
Accounting and Reporting Services. ADMINISTRATOR shall perform, with respect to the Contracts, all accounting and reporting of direct and ceded premiums and claims (and other contract owner disbursements, contract loans, commissions, premium tax payments and accruals). Such services shall include all accounting and reporting necessary to provide COMMONWEALTH with all required data needed for statutory ("SAP") and generally accepted accounting principles ("GAAP") financial statements and filings and state and federal income and premium tax reporting and filings. With respect to premium taxes, ADMINISTRATOR's reporting shall be broken out on a state-by-state basis.
(a) Within the mutually agreed upon number of days following the end of each month ADMINISTRATOR shall furnish COMMONWEALTH with the following factual information in the format agreed to by both COMMONWEALTH and ADMINISTRATOR. ADMINISTRATOR will generate a control report and identify a contact to help resolve any transmission or balancing issues:
(i) general ledger summary file;
(ii) settlement report;
(iii) non-ledger transactions;
(iv) pending claim information;
(v) seriatim valuation contract file as needed to calculate actuarial reserves;
(vi) contract file information, as needed, to support reinsurance reporting;
(vii) premium tax and guarantee fund filings;
(viii) unpaid benefits and unpaid dividends, and items such as mortality expenses and lapses so that CLIENTS can determine future dividends.
(ix) reports of lost policyholders for escheatment purposes;
(x) assistance with information required under an agreed upon format.
(b) Quarterly, ADMINISTRATOR shall, in addition to the normal monthly reporting, furnish COMMONWEALTH with a Schedule D related to the Separate Account business, Including Unit Value Assets information, within ten (10) Business Days following the last day of the applicable quarter.
(c) Annually, ADMINISTRATOR shall in addition to the normal monthly and quarterly reporting furnish COMMONWEALTH with the following information necessary to complete the Annual Statement and state required quarterly and supplemental filings, including the following within fifteen (15) Business Days following the last day of the applicable reporting period:
(i) Exhibit of Number of Contracts, Contracts, Certificates, Income Payable and Account Values In Force for Supplementary Contracts, Annuities, Accident & Health and Other Contracts;
(ii) Municipal Tax Detail (Town and County detail for states requiring municipal taxes); and
(...
Accounting and Reporting Services. With respect to the Reinsured Policies, the Service Provider shall perform all accounting and reporting of direct and ceded premiums, claims and other policyholder disbursements, reserves, policy loans, commissions, and premium tax payments and accruals. Such services shall include all accounting and reporting necessary to provide the Company with all required statutory, regulatory, and GAAP data needed for financial statements and filings and state and federal income and premium tax reporting and filings.
Accounting and Reporting Services. With respect to the Reinsured Policies, the Administrator shall perform all accounting and reporting of direct and ceded premiums, claims and other policyholder disbursements, reserves, policy loans, commissions, and premium tax payments and accruals. Such services shall include all accounting and reporting necessary to provide the Seller with all required statutory and regulatory data needed for financial statements and filings and state and federal income and premium tax reporting and filings.
Accounting and Reporting Services. The Servicer will perform accounting and reporting services related to the foregoing, including (a) preparing premium budgets, (b) preparing invoices for the Keep Policy Investors’ respective share of premiums and Administrative Fees, (c) processing bank deposits, both with respect to the accounts maintained on behalf of the Trust and on its own behalf, (d) posting collections to the general ledger system of the Trust, and to its own general ledger system, (e) posting premium payment transfers from the Trust accounts to the Servicer’s accounts in to the general ledger system of the Trust, and its own general ledger system, and (f) reconciling amounts actually collected from Keep Policy Investors against premium amounts billed and owing under the Keep Policies and the Administrative Fees;
Accounting and Reporting Services. During the Term of the Agreement, to the extent not otherwise described above, the Servicer will maintain full and adequate books and accounts and such other records as might be appropriate to reflect (a) the premium payments associated with the whole and fractional interests in Keep Policies; and (b) the obligations of the Keep Policy Investors in such policies and policy interests.
Accounting and Reporting Services. With respect to the Policies, the Service Provider shall perform all accounting and reporting of direct and ceded premiums, claims (and other policyholder disbursements, reserves, policy loans, commissions, and premium Tax payments and accruals). Such services shall include all accounting and reporting necessary to provide the Company with all required statutory, regulatory, data needed for statutory ("SAP") and generally accepted accounting principles ("GAAP") financial statements and filings and state and federal income and premium Tax reporting and filings. The Company will prepare the financial statements and filings and state and federal income and premium tax reporting and filings required for the Company by Applicable Law, based on the information provided by the Service Provider. Without limiting the generality of the foregoing, the Service Provider shall provide the following reports to the Company in a format mutually agreed upon between the Company, and the Service Provider:
(a) Within the time period after the end of each month indicated below, the Service Provider shall furnish the Company with a general ledger ("GL") summary file. The file will be generated and placed on the FTP Site by 8:00 p.m. central time of the 6th Business Day of each month. The file will be in the format agreed to by both the Company and the Service Provider. The Service Provider will generate a control report and identify a contact to help resolve any transmission or balancing issues;
(b) Settlement Report-by the sixth (6th) Business Day;
(c) Non-ledger transactions - by the sixth (6th) Business Day;
(i) This information is provided in the GL file and the reinsurance files;
(d) Pending claim information - by the sixth (6th) Business Day;
Accounting and Reporting Services. Accounting and Reporting Services shall include the following:
Accounting and Reporting Services. Accounting and Reporting Services shall include the following:
a. Maintain general ledger for GTH including general ledger accounting entries with related supporting schedules and monthly general ledger account reconciliations.
b. Prepare monthly GAAP financial statements for GTH at a consolidated level with detailed supporting back-up documentation and financial analytics and analysis.
c. Preparation of annual audit schedules and financial report schedules as required.
d. Management and facilitation of GTH Phantom and Equity Plans.
Accounting and Reporting Services. During the --------------------------------- Term, QDS shall provide the following accounting and reporting services in a manner which, unless otherwise specifically described, is substantially similar in nature, quality and timeliness to those provided to or for the Business prior to the Closing Date:
(i) General ledger accounting;
(ii) Accounts payable accounting and payments;
(iii) Billing;
(iv) Accounts receivable accounting and collections;
(v) Periodic reporting, with monthly financial statements produced no later than 20 days following the end of each month and quarterly financial statements produced no later than 20 days following the end of each quarter, provided that an accounts receivables aging shall be produced no later than five (5) days following the end of each month;
(vi) Storage of financial and accounting data;
(vii) Payroll processing and accounting (including, but not limited to, remittance of payroll tax and other withholdings); and
(viii) Job cost accounting in a level of detail sufficient to support Purchaser's percentage of completion method of accounting. During the Term, QES shall ensure that the appropriate QDS personnel involved in providing the services described in Paragraphs 2(b)(ii) and (vi) have access to QES bank accounts as necessary for purposes of directing such payments.
