AMOUNTS DUE REINSURER OR REINSURED. Except as otherwise specifically provided herein, all amounts, other than those paid daily, due to be paid to either the REINSURER or the REINSURED shall be determined or estimated on a net basis as of the last day of the month preceding the end of each accounting period and shall be due and payable as of such date. If such amounts cannot be determined at such later date on an exact basis, such payments may be paid on an estimated basis and any final adjustments are to be made within 3 months after the end of such accounting period.
Appears in 4 contracts
Samples: Modified Coinsurance Agreement (Separate Account Vul-2 of the American Franklin Life Ins Co), Modified Coinsurance Agreement (Separate Account Vul-2 of the American Franklin Life Ins Co), Modified Coinsurance Agreement (Separate Account Vul-2 of the American Franklin Life Ins Co)
