Common use of Ceding Commission Clause in Contracts

Ceding Commission. The Reinsurer shall pay to the Company on the Closing Date a Ceding Commission in the amount of $6,047,000. The Ceding Commission shall be credited to the Company as a reduction in the amount of cash or cash equivalents included within the Transferred Assets (as defined in the Coinsurance Agreement) to be transferred by the Company to the Reinsurer pursuant to the Coinsurance Agreement. In accordance with Section 2.4 of this Agreement, there shall be no transfer of Separate Account Reserves or Separate Account Assets at the Closing.

Appears in 4 contracts

Samples: Modified Coinsurance Agreement, Modified Coinsurance Agreement (ING U.S., Inc.), Modified Coinsurance Agreement (Ing Life Insurance & Annuity Co)

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Ceding Commission. The Reinsurer shall pay to the Company on the Closing Date a Ceding Commission in the amount of $6,047,000662,004,000. The Ceding Commission shall be credited to the Company as a reduction in the amount of cash or cash equivalents included within the Transferred Assets (as defined in the Coinsurance Agreement) to be transferred by the Company to the Reinsurer pursuant to the Coinsurance Agreement. In at Closing in accordance with Section 2.4 the provisions of this Agreement, there shall be no transfer of Separate Account Reserves or Separate Account Assets at the ClosingSections 3.2 hereof.

Appears in 3 contracts

Samples: Coinsurance Agreement (ING U.S., Inc.), Coinsurance Agreement (Ing Life Insurance & Annuity Co), Asset Purchase Agreement (Lincoln National Corp)

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Ceding Commission. The Reinsurer shall pay to the Company on the Closing Date a Ceding Commission in the amount of $6,047,00082,987,000. The Ceding Commission shall be credited to the Company as a reduction in the amount of cash or cash equivalents included within the Transferred Assets (as defined in the Coinsurance Agreement) to be transferred by the Company to the Reinsurer pursuant to the Coinsurance Agreement. In accordance with Section 2.4 of this Agreement, there shall be no transfer of Separate Account Reserves or Separate Account Assets at the Closing.

Appears in 3 contracts

Samples: Modified Coinsurance Agreement (ING U.S., Inc.), Modified Coinsurance Agreement (Ing Life Insurance & Annuity Co), Asset Purchase Agreement (Lincoln National Corp)

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