Common use of Decrease in Modified Coinsurance Reserve Clause in Contracts

Decrease in Modified Coinsurance Reserve. The Company shall pay the Reinsurer, as of the end of each and every accounting period for the duration of this Agreement, the amount by which the total Modified Coinsurance reserve, as defined in Article 10, “Reserves”, in the aggregate on the Policies has declined since the beginning of such then current accounting period, if any, as defined in Schedule D, “Administration Reports” multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B, “Reinsurance Basis”. The amount of such decrease for such then current accounting period shall be determined by subtracting the amount of the modified coinsurance reserve on the Policies as of the end of the then current accounting period, from the amount of the modified coinsurance reserve on the Policies as of the beginning of the then current accounting period. Should such calculation result in a positive number, this shall be the amount of the decrease for the current accounting period. Should such calculation result in a negative number, the amount of decrease for the current accounting period shall be zero or none.

Decrease in Modified Coinsurance Reserve. The Company shall pay the Reinsurer, as of the end of for each and every accounting period for the duration of this Agreement, the amount by which the total Modified Coinsurance modified coinsurance reserve, as defined in Article 10, “Reserves”, in the aggregate on the Policies has declined since the beginning of such then current accounting period, if any, as defined in Schedule D, “Administration Reports” multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B, “Reinsurance Basis”. C. The amount of such decrease for such then current accounting period shall be determined by subtracting the amount of the modified coinsurance reserve on the Policies as of the end of the then current accounting period, from the amount of the modified coinsurance reserve on the Policies as of the beginning end of the then current immediately preceding accounting period. Should such calculation result in a positive number, this shall be the amount of the decrease for the current accounting period. Should such calculation result in a negative number, the amount of decrease for the current accounting period shall be zero or none.. The result is further multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B.

Decrease in Modified Coinsurance Reserve. The Company shall pay the Reinsurer, as of the end of for each and every accounting period for the duration of this Agreement, the amount by which the total Modified Coinsurance modified coinsurance reserve, as defined in Article 10, “"Reserves”", in the aggregate on the Policies has declined since the beginning of such then current accounting period, if any, as defined in Schedule D, “Administration Reports” multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B, “Reinsurance Basis”. C. The amount of such decrease for such then current accounting period shall be determined by subtracting the amount of the modified coinsurance reserve on the Policies as of the end of the then current accounting period, from the amount of the modified coinsurance reserve on the Policies as of the beginning end of the then current immediately preceding accounting period. Should such calculation result in a positive number, this shall be the amount of the decrease for the current accounting period. Should such calculation result in a negative number, the amount of decrease for the current accounting period shall be zero or none.. The result is further multiplied by the Quota Share Percentage Reinsured, as set forth in Schedule B.