Common use of Initial Coinsurance Reinsurance Premium Clause in Contracts

Initial Coinsurance Reinsurance Premium. Ceding Company shall deliver to Reinsurer an estimated accounting as described in Section 5.01 calculated as of the Effective Date, and Ceding Company shall transfer an initial reinsurance premium ("INITIAL COINSURANCE REINSURANCE PREMIUM") to Reinsurer within 20 business days of the Effective Date in the form of cash and/or assets listed in Exhibit C with an estimated fair market value as of the Effective Date equal to the greater of the Net Coinsurance Reserve described in Exhibit B and the fair value of the coinsured liabilities as calculated by the Ceding Company in accordance with generally accepted accounting principles as of the Effective Date.

Initial Coinsurance Reinsurance Premium. Ceding Company shall deliver to Reinsurer an estimated accounting as described in Section 5.01 calculated as of the Effective Date, and Ceding Company shall transfer an initial reinsurance premium ("INITIAL COINSURANCE REINSURANCE PREMIUMInitial Coinsurance Reinsurance Premium") to Reinsurer within 20 business days of the Effective Date in the form of cash and/or assets listed in Exhibit C with an estimated fair market value as of the Effective Date equal to the greater of the Net Coinsurance Reserve described in Exhibit B and the fair value of the coinsured liabilities as calculated by the Ceding Company in accordance with generally accepted accounting principles as of the Effective Date.