Initial Reinsurance Premium. As consideration for the reinsurance by the Reinsurer of the Reinsured Risks under this Agreement, on the Closing Date the Reinsurer shall be entitled to an amount equal to one hundred percent (100%) of the Total SAP Ceded Reserves as of the close of business on the day immediately preceding the Inception Date (the “Initial Reinsurance Premium”).
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Samples: Coinsurance Agreement (Ge Life & Annuity Assurance Co), Coinsurance Agreement (Genworth Financial Inc), Retrocession Agreement (Genworth Financial Inc)
Initial Reinsurance Premium. As consideration for the reinsurance by the Reinsurer of the Reinsured Risks under this Agreement, on the Closing Date Date, the Reinsurer shall be entitled to an amount equal to one hundred percent (100%) of the Total SAP Ceded Reserves as of the close of business on the day immediately preceding the Inception Date (the “Initial Reinsurance Premium”).
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