Common use of Estimates and Delays Clause in Contracts

Estimates and Delays. If the amount of the quarterly cash flow settlement cannot be determined as of the due dates, as defined in Schedule C on an exact basis, such payments will be paid in accordance with a mutually acceptable formula which will approximate the actual payments. Should there be a delay in the payment due, the Reinsurer reserves the right to charge an interest penalty for the time period that the amount is overdue, at an annual effective interest rate based on the thirty (30) day U.S. Treasury Xxxx rate as of the due date plus 2% per annum.

Estimates and Delays. If the amount of the quarterly cash flow settlement cannot be determined on an exact basis as of the due dates, as defined in Schedule C on an exact basisD, “Administration Reports”, such payments will be paid in accordance with a mutually acceptable formula which will approximate the actual payments. Should there be a delay in the payment due, the Reinsurer reserves the right to charge an interest penalty for the time period that the amount is overdue, at an annual effective interest rate based on the thirty (30) day U.S. Treasury Xxxx rate as of the due date plus 2% per annum.

Estimates and Delays. If the amount of the quarterly cash flow settlement cannot be determined on an exact basis as of the due dates, as defined in Schedule C on an exact basisD, “Administration Reports”, such payments will be paid in accordance with a mutually acceptable formula which will approximate the actual payments. Should there be a delay in the payment due, the Reinsurer Company reserves the right to charge an interest penalty for the time period that the amount is overdue, at an annual effective interest rate based on the thirty (30) day U.S. Treasury Xxxx rate as of the due date plus 2% per annum.