COINSURANCE; RESERVES Sample Clauses

COINSURANCE; RESERVES. The reinsurance hereunder shall be on a Coinsurance Basis. The parties agree that the SAP reserves relating to the Policies, including the advance premiums, and unearned premiums which shall be reviewed and the amounts therefor shall be calculated as November 30, 1998 and determined by an actuary designated by the Company, which actuary shall be a Fellow of the Society of Actuaries ("FSA"). Upon the FSA's completion of such calculation, the FSA shall deliver to an actuary designated by the Reinsurer (the Reinsurer's Actuary" ") such calculation for review and approval by the Reinsurer's Actuary on behalf of the Reinsurer. If the Reinsurer's Actuary does not approve the calculation, the Reinsurer's Actuary and the FSA shall use their good faith best efforts to reach an agreement as to such calculation. Thereafter, the FSA and the Reinsurer's Actuary continue to disagree with respect to such calculation, the parties agree that the calculation shall be determined by the independent actuarial firm of Xxxxxxxxxxx, Xxxxxxxx & Xxxxxxxxx or Xxxxxx & Associates, which firm shall be selected by the Company. The determination of the calculation by such firm shall be final, binding, conclusive and nonappealable upon the Company and the Reinsurer. The parties agree that all fees of the FSA shall be borne by the Company, all fees of the Reinsurer's Actuary shall be borne by the Reinsurer, and all fees of the independent actuarial firm shall be borne by each of the Company and the Reinsurer in the proportion of the difference that each of their respective representatives' calculations bears to the calculation of the independent actuarial firm. By way of example, if the FSA determines the SAP reserves to be $2 million, the Reinsurer's Actuary determines the SAP reserves to be $3 million, and the independent actuarial firm determines the SAP reserves to be $2.5 million, each of the Company and the Reinsurer shall be liable for 50% of the fees of the independent actuarial firm. If any due premiums allowed as an offset in computing the Transferred Reserves are not received by the Administrator on behalf of the Company within forty-five (45) days after the Effective Date, the Company shall pay the amount net of offsetting reductions to unearned premium reserves thereof to the Reinsurer upon demand by the Reinsurer.
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COINSURANCE; RESERVES. ..5 Section 2.4. Insurance Contract and Reserve Assumption Changes........5
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COINSURANCE; RESERVES. The Coinsurance Reserves on December 31, 2008 shall equal Thirty Million dollars ($30,000,000). The Coinsurance Reserves at the end of each Accounting Period thereafter shall equal the statutory reserves for the Section A Subject Business calculated by the Company, multiplied by the Section A Current Quota Share, as defined in Schedule E, prior to any current period recapture.
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COINSURANCE; RESERVES. The Initial Coinsurance Reserves shall include the premium deficiency reserves plus the quota share of the excess of Other Exhibit 8 Statutory Reserves over Tax Reserves, and then tax deductible Exhibit 8 Reserves so that the Total Coinsurance Reserves on the effective date are equal to the Initial Allowance. Any reduction in the coinsurance reserves due to a coinsurance reserve adjustment shall first be made in the Exhibit 8 tax deductible reserves, until such Exhibit 8 reserves are reduced to zero. The coinsurance reserve adjustments are zero when the coinsurance reserve is reduced to zero.
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COINSURANCE; RESERVES. The reinsurance hereunder shall be on a 100% Coinsurance Basis, sometimes referred to herein as the “quota share percentage.” Reinsurer shall establish and maintain all statutory reserves with respect to the Policy that:
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COINSURANCE; RESERVES. The reinsurance hereunder shall be on a quota share coinsurance basis. The Reinsurer shall not be liable for, or participate in, any increase in reserves arising from a change by the Company in assumptions or methods, including without limitation, the reserve interest rate or the mortality assumptions for the Policies.
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COINSURANCE; RESERVES. The Coinsurance Reserves at the end of each Accounting Period shall equal two percent (2%) of the statutory reserves held for the Subject Business as of the end of that Accounting Period.
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COINSURANCE; RESERVES. The Coinsurance Reserves at the end of each Accounting Period shall equal thirteen and 39/100 percent (13.39%) of the statutory reserves held for the Subject Business as of the end of that Accounting Period.
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Related to COINSURANCE; RESERVES

  • Insurance Reserves Lender may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums shall remain Grantor's sole responsibility.

  • Insurance Costs Any and all insurance charges of or relating to all insurance policies and endorsements deemed by Landlord to be reasonably necessary or desirable and relating in any manner to the protection, preservation, or operation of the Building or any part thereof.

  • Reinsurance Premiums A. Computation Reinsurance Premiums under this Agreement shall be calculated as described in Exhibit I.

  • Hazard Insurance Deductible Except as a greater amount may be required by an applicable law, each Hazard Insurance deductible may not exceed FNMA or FHLMC's required deductible.

  • Increase in Insurance Premiums If an increase in any insurance premiums paid by Landlord for the Building is caused by Tenant's use of the Premises or if Tenant vacates the Premises and causes an increase in such premiums, then Tenant shall pay as additional rent the amount of such increase to Landlord.

  • Blanket Hazard Insurance Requirement Unless alternative coverage is provided pursuant to Section 16.3 hereunder, the Servicer must verify that each such Mortgaged Property is covered at all times by Hazard Insurance policy which provides blanket coverage for the individual units in the Condominium Project or PUD.

  • FDIC Insurance The deposits of each Subsidiary Bank of the Borrower are insured by the FDIC and no act has occurred which would adversely affect the status of such Subsidiary Bank as an FDIC insured bank.

  • Payment of Taxes, Insurance and Other Charges; Collections Thereunder With respect to each Mortgage Loan, the Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments and other charges which are or may become a lien upon the Mortgaged Property and the status of premiums for Primary Mortgage Insurance Policies and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage. To the extent that a Mortgage does not provide for Escrow Payments, the Seller shall determine that any such payments are made by the Mortgagor. The Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of each Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make Servicing Advances to effect such payments, subject to its ability to recover such Servicing Advances pursuant to Subsections 11.05(c), 11.05(d) and 11.07(b). No costs incurred by the Seller or subservicers in effecting the payment of ground rents, taxes, assessments and other charges on the Mortgaged Properties or mortgage or hazard insurance premiums shall, for the purpose of calculating remittances to the Purchaser, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.

  • Maintenance of the Primary Insurance Policies; Collections Thereunder (a) The Master Servicer shall not take, or permit any Subservicer to take, any action which would result in non-coverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer or Subservicer, would have been covered thereunder. To the extent coverage is available, the Master Servicer shall keep or cause to be kept in full force and effect each such Primary Insurance Policy until the principal balance of the related Mortgage Loan secured by a Mortgaged Property is reduced to 80% or less of the Appraised Value in the case of such a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80%, provided that such Primary Insurance Policy was in place as of the Cut-off Date and the Company had knowledge of such Primary Insurance Policy. The Master Servicer shall be entitled to cancel or permit the discontinuation of any Primary Insurance Policy as to any Mortgage Loan, if the Stated Principal Balance of the Mortgage Loan is reduced below an amount equal to 80% of the appraised value of the related Mortgaged Property as determined in any appraisal thereof after the Closing Date, or if the Loan-to-Value Ratio is reduced below 80% as a result of principal payments on the Mortgage Loan after the Closing Date. In the event that the Company gains knowledge that as of the Closing Date, a Mortgage Loan had a Loan-to-Value Ratio at origination in excess of 80% and is not the subject of a Primary Insurance Policy (and was not included in any exception to the representation in Section 2.03(b)(iv)) and that such Mortgage Loan has a current Loan-to-Value Ratio in excess of 80% then the Master Servicer shall use its reasonable efforts to obtain and maintain a Primary Insurance Policy to the extent that such a policy is obtainable at a reasonable price. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy applicable to a Nonsubserviced Mortgage Loan, or consent to any Subservicer canceling or refusing to renew any such Primary Insurance Policy applicable to a Mortgage Loan subserviced by it, that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy is maintained with an insurer whose claims-paying ability is acceptable to each Rating Agency for mortgage pass-through certificates having a rating equal to or better than the lower of the then-current rating or the rating assigned to the Certificates as of the Closing Date by such Rating Agency.

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