INITIAL QUARTERLY SETTLEMENT Sample Clauses
INITIAL QUARTERLY SETTLEMENT. A. Within fifteen (15) days after the initial Accounting Period, the Ceding Company will pay the Reinsurer the sum of: (i) the Initial Consideration determined in accordance with Article II, Paragraph 1, plus (ii) the Initial Expense and Risk Charge determined in accordance with Article VI, Paragraph 1.
B. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) the Initial Reserve Adjustment determined in accordance with Article V, Paragraph 1, plus (ii) the Ceding Commission determined in accordance with Article III, Paragraph 1.
INITIAL QUARTERLY SETTLEMENT. Within twenty-five (25) days after the initial Accounting Period, the Ceding Company will pay the Reinsurer the Initial Consideration determined in accordance with Article II, Paragraph 1. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) the Initial Reserve Adjustment determined in accordance with Article V, Paragraph 1, plus (ii) the Initial Commission determined in accordance with Article III, Paragraph 1.