Daily Cash Settlements. By the end of each Business Day, the Reinsurer shall notify the Company of the payments required the next Business Day under Section 6.01 in the form of a daily statement (the "Daily Statement"). The Reinsurer or the Company, as the case may be, shall make the required payments on such next Business Day by wire transfer of immediately available funds. Daily Statements may be based upon reasonable approximations. Daily Statements shall be in a form agreed to by the Company and the Reinsurer in writing.
Appears in 4 contracts
Samples: Coinsurance Agreement (Jackson VFL Variable Life Separate Account), Coinsurance Agreement (Jackson VFL Variable Annuity Separate Account), Coinsurance Agreement (Jackson VFL Variable Life Separate Account)
Daily Cash Settlements. By At the end of each Business Day, the Reinsurer shall notify the Company of the payments required the next Business Day under Section 6.01 in the form of a daily statement (the "Daily Statement")Article VII(A) above. The Reinsurer or the Company, as the case may be, shall make the required payments on such next Business Day by wire transfer of immediately available funds. Daily Statements statements may be based upon reasonable approximations. Daily Statements statements shall be in a form agreed to by the Company and the Reinsurer in writing.
Appears in 2 contracts
Samples: Purchase Agreement (Charter National Variable Annuity Account), Purchase Agreement (Intramerica Variable Annuity Account)
