Contingent Commission. (a) This Agreement allows for payment of a contingent commission between Company and General Agent as set forth on the attached Commission Schedule Addendum.
(b) Notwithstanding any provision in this Agreement to the contrary, in the event that General Agent is in default or has committed a breach of its obligations under this Agreement, no contingent commission shall be paid until such time as General Agent has cured the default or breach.
Contingent Commission. In addition to the fixed commission set forth in the article entitled REINSURANCE PREMIUM AND COMMISSION, the Reinsurer shall pay to the Company a contingent commission equal to 100% of the Positive Experience Account balance under this Agreement. With respect to the contingent commission and the calculation thereof, the following interpretations and reporting provisions shall apply:
Contingent Commission. (a) This Amended and Restated Agreement allows for payment of a contingent commission between Company and General Agent as set forth on the attached Commission Schedule Addendum.
(b) Not withstanding any provision in this Amended and Restated Agreement to the contrary, in the event that General Agent is in default or has committed a breach of its obligations under this Amended and Restated Agreement, no contingent commission adjustment shall be paid until such time that General Agent has cured the default or breach.
(c) Not withstanding any provision in this Amended and Restated Agreement to the contrary, no contingent commission that may otherwise become due to General Agent hereunder shall be paid to General Agent until Company first has received such payment from Reinsurer. [**] CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.
Contingent Commission. In addition to the Commission specified in ARTICLE 10 - PREMIUM AND COMMISSIONS above, the Reinsurer will allow the Reinsured a Contingent Commission of 50.0% in respect of the combined Cumulative Gross Underwriting Profit for business written under this Agreement and for policies written under the Quota Share Reinsurance Agreement between Mutual Service Casualty Insurance Company and the Reinsurers hereunder. Cumulative Gross Underwriting Profit shall be defined as the difference between the actual Gross Loss Ratio (being the ratio of paid and outstanding losses and Loss Expenses plus any involuntary assessments, surcharges or fees relative to policies written hereunder, plus an Incurred But Not Reported ("IBNR") factor as scheduled below, plus 10.0% of any subrogation recoveries paid or payable to the Claim Facility, to the Original Gross Premium for the Agreement Years in question) and 45.0%, multiplied by the Original Gross Premium for the Agreement Years in question. Should the Gross Loss Ratio so calculated exceed 45.0%, no Contingent Commission shall be payable. Contingent Commission to be calculated at December 31, 2001 and annually thereafter in respect of Agreement Years expiring 12 months or more prior to the date of calculation, until in the event of termination of this Agreement, all claims are finally settled or closed. The following IBNR factors will be incorporated in respect of each Agreement Year: 15% of Original Gross Premium in respect of the Agreement Year expiring 12 months prior to the date of calculation.
Contingent Commission. A. The Reinsurer shall pay the Company a contingent commission equal to 25.0% of the net profit, if any, accruing to the Reinsurer under this Contract. The Reinsurer's net profit under
Contingent Commission. The Reinsurer shall make a further allowance of 100% commission on the net profit for each period, calculated on the following basis: Commission calculations shall be prepared at commutation of each underwriting year of account with all losses occurring on ceded business in force during a calculation period charged against all premium ceded during the same calculation period.
Contingent Commission. In addition to the fixed commission set forth in the section entitled REINSURANCE PREMIUM AND COMMISSION, the Reinsurer shall pay to the Company a contingent commis- sion of 60% of the amount by which the Reinsurer's Income exceeds the Reinsurer's Outgo for each Contingent Period. With respect to the contingent commission and the calculation thereof, the following definitions and reporting provisions shall apply:
Contingent Commission. Applicable solely to Part I - First Excess of Loss (Code No. TC407A-R97)
A. The Reinsurer shall allow the Company a contingent commission of 50.00% of the net profit, if any, accruing to the Reinsurer hereunder, such profit to be computed on the following formula: CONTINGENT COMMISSION COMPUTATION FOR THE PERIOD INCOME
1. Premiums received by the Reinsurer as determined under Article X - Reinsurance Premium of this Agreement, during the Accounting Period. OUTGO
2. Losses incurred by the Reinsurer during the Accounting Period.
3. Allowance for Reinsurer's management expenses during the Accounting Period of 15% of the Premiums received by the Reinsurer, as determined under Article X - Reinsurance Premium of this Agreement, during the Accounting Period.
4. Deficit, or underwriting loss, if any, brought forward from the preceding period. The amount by which INCOME exceeds OUTGO is profit. The amount by which OUTGO exceeds INCOME is deficit.
B. The term "Accounting Period" means the actual time covered by each adjustment of commission.
Contingent Commission. A. The Reinsurer shall allow the Company a contingent commission of 50% of the profit, if any, accruing to the Reinsurer hereunder, such profit shall be computed on the following formula:
Contingent Commission. A. The Reinsurer shall pay the Company a contingent commission equal to 20.0% of the net profit, if any, accruing to the Reinsurer during each accounting period defined herein. The first accounting period shall be from the effective date of this Contract through December 31, 1998, and each subsequent 12-month period (or 15-month period if this Contract is extended through March 31 of any calendar year as provided in paragraph A of Article II) shall be a separate accounting period. However, if this Contract is terminated, the final accounting period shall be from the beginning of the then current accounting period through the date of termination if this Contract is terminated on a "cutoff" basis, or the end of the runoff period if this Contract is terminated on a "runoff" basis.
B. The Reinsurer's net profit for each accounting period shall be calculated in accordance with the following formula, it being understood that a positive balance equals net profit and a negative balance equals net loss:
