Disputes over Calculations. This section is intended to address disputes between the Ceding Company and the Reinsurer solely to the extent they relate to one or more specific calculations. Any such disputes not resolved pursuant to this Paragraph 1 shall be resolved pursuant to Article X. Rights, duties or obligations resulting from either party’s failure to act other than in accordance with the provisions of this Agreement shall be subject to Article X. This section shall survive termination of this Agreement. a. If a dispute arises between the Ceding Company and the Reinsurer in regards to the calculation of any amounts to be paid or reserved (including Reinsurance Premiums, Claims, Coinsurance Reserve, Settlement amounts, and Recapture Fee) which cannot be resolved by the parties within thirty (30) calendar days, then the Ceding Company and Reinsurer will each prepare written reports describing the calculation in dispute. b. Within ten (10) business days after the close of the thirty (30) day resolution period in subparagraph a. above, these written reports will be submitted to a mutually acceptable third party actuary, accountant or investment professional (the “Outside Expert”). c. Within thirty (30) calendar days of receipt of the written report, the Outside Expert will determine a dollar amount (or other value, as applicable) for the disputed calculation which will fall in the range between the values proposed by the Ceding Company and the Reinsurer. d. The fees, costs and expenses of retaining the Outside Expert will be shared equally between the Ceding Company and the Reinsurer.
Appears in 3 contracts
Samples: Reinsurance Agreement (Lincoln Life Variable Annuity Account N), Reinsurance Agreement (Lincoln Life Variable Annuity Account N), Reinsurance Agreement (Lincoln Life Variable Annuity Account N)
Disputes over Calculations. This section is intended to address disputes between the Ceding Company and the Reinsurer solely to the extent they relate to one or more specific calculations. Any such disputes not resolved pursuant to this Paragraph 1 shall be resolved pursuant to Article X. Rights, duties or obligations resulting from either party’s failure to act other than in accordance with the provisions of this Agreement shall be subject to Article X. This section shall survive termination of this Agreement.
a. If a dispute arises between the Ceding Company and the Reinsurer in regards to the calculation of any amounts to be paid or reserved (including Reinsurance Premiums, ClaimsBenefit Payments, Coinsurance Reserve, Settlement amounts, and Recapture Fee) which cannot be resolved by the parties within thirty (30) calendar days, then the Ceding Company and Reinsurer will each prepare written reports describing the calculation in dispute.
b. Within ten (10) business days after the close of the thirty (30) day resolution period in subparagraph a. above, these written reports will be submitted to a mutually acceptable third party actuary, accountant or investment professional (the “Outside Expert”).
c. Within thirty (30) calendar days of receipt of the written report, the Outside Expert will determine a dollar amount (or other value, as applicable) for the disputed calculation which will fall in the range between the values proposed by the Ceding Company and the Reinsurer.
d. The fees, costs and expenses of retaining the Outside Expert will be shared equally between the Ceding Company and the Reinsurer.
Appears in 2 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement (Ohio National Variable Account A)
Disputes over Calculations. This section is intended to address disputes between the Ceding Company and the Reinsurer solely to the extent they relate to one or more specific calculations. Any such disputes over calculations not resolved pursuant to this Paragraph 1 shall be resolved pursuant to Article X. Rights, duties or obligations resulting from either party’s failure to act other than in accordance with the provisions of this Agreement shall be subject to Article X. This section shall survive termination of this Agreement.
a. (a) If a dispute arises between the Ceding Company and the Reinsurer in regards to the calculation of any amounts to be paid or reserved (including Reinsurance Premiums, Claims, Coinsurance Reserve, Settlement amountsAmounts, and Recapture Fee) or to the valuation of Qualifying Assets provided by the Reinsurer which cannot be resolved by the parties within thirty (30) calendar days, then the Ceding Company and the Reinsurer will each prepare written reports describing the calculation or valuation, as applicable, in dispute.
b. (b) Within ten (10) business days after the close of the thirty (30) calendar day internal resolution period in subparagraph a. aboveperiod, these written reports will be submitted to a mutually acceptable third party actuary, accountant or investment professional (the “Outside Expert”).
c. (c) Within a thirty (30) calendar days of receipt of the written reportday period, the Outside Expert will determine in writing a dollar amount (or other value, as applicable) for the disputed calculation or valuation, as applicable, which will fall in the range between the values proposed by the Ceding Company and the Reinsurer.
d. (d) The fees, costs and expenses of retaining the Outside Expert will be shared equally between the Ceding Company and the Reinsurer.. EXECUTION VERSION Page 48 of 64
Appears in 1 contract
Samples: Reinsurance Agreement (Pruco Life Flexible Premium Variable Annuity Account)
Disputes over Calculations. This section paragraph 1 is intended to address disputes between the Ceding Company and the Reinsurer solely to the extent they relate to one or more specific calculations, including terminal accounting calculations. Any such disputes not resolved pursuant to this Paragraph 1 shall be resolved pursuant to Article X. Rights, duties or obligations resulting from either party’s failure to act other than in accordance with the provisions of this Agreement shall be subject to Article X. This section shall survive termination of this Agreement.X.
a. (a) If a dispute arises between the Ceding Company and the Reinsurer in regards to the calculation of any amounts to be paid or reserved (including Reinsurance Premiums, Claims, materiality of Proposed Program Changes, Coinsurance Reserve, Settlement amountsAmounts, and Recapture Fee) which cannot be resolved by the parties within thirty (30) calendar days, then the Ceding Company and Reinsurer will each prepare written reports describing the calculation in dispute.
b. (b) Within ten (10) business days after the close of the thirty (30) calendar day internal resolution period in subparagraph a. aboveperiod, these written reports will be submitted to a mutually acceptable third party actuary, accountant or investment professional (the “Outside Expert”).
c. (c) Within a thirty (30) calendar days of receipt of the written reportday period, the Outside Expert will determine a dollar amount (or other value, as applicable) for the disputed calculation which will fall in the range between the values proposed by the Ceding Company and the Reinsurer.
d. (d) The fees, costs and expenses of retaining the Outside Expert will be shared equally between the Ceding Company and the Reinsurer.
Appears in 1 contract
Samples: Reinsurance Agreement (Separate Account a of Pacific Life Insurance Co)
Disputes over Calculations. This section paragraph 1 is intended to address disputes between the Ceding Company and the Reinsurer solely to the extent they relate to one or more specific calculations, including terminal accounting calculations. Any such disputes not resolved pursuant to this Paragraph 1 shall be resolved pursuant to Article X. Rights, duties or obligations resulting from either party’s failure to act other than in accordance with the provisions of this Agreement shall be subject to Article X. This section shall survive termination of this Agreement.X.
a. (a) If a dispute arises between the Ceding Company and the Reinsurer in regards to the calculation of any amounts to be paid or reserved (including Reinsurance Premiums, Claims, materiality of Proposed Program Changes, Coinsurance Reserve, Settlement amountsAmounts, and Recapture Fee) which cannot be resolved by the parties within thirty (30) calendar days, then the Ceding Company and Reinsurer will each prepare written reports describing the calculation in dispute.
b. (b) Within ten (10) business days after the close of the thirty (30) calendar day internal resolution period in subparagraph a. aboveperiod, these written reports will be submitted to a mutually acceptable third party actuary, accountant or investment professional (the “Outside Expert”).
c. (c) Within a thirty (30) calendar days of receipt of the written reportday period, the Outside Expert will determine a dollar amount (or other value, as applicable) for the disputed calculation which will fall in the range between the values proposed by the Ceding Company and the Reinsurer.
d. (d) The fees, costs and expenses of retaining the Outside Expert will be shared equally between the Ceding Company and the Reinsurer.. 50 of 88
Appears in 1 contract
Samples: Reinsurance Agreement