Delayed Payment. If reinsurance premiums are 90 days past due, THE REINSURER may charge interest on the amount due at an interest rate not to exceed the London Interbank Offer Rate, U.S. Denomination-Fixed Three-month, (LIBOR), as of when the payment was due.
Appears in 9 contracts
Samples: Reinsurance Agreement (Pruco Life Variable Universal Account), Reinsurance Agreement (Pruco Life Variable Universal Account), Reinsurance Agreement (Pruco Life of New Jersey Variable Appreciable Account)
