Initial Settlement. On the third Trading Day immediately following the Purchase Date (the “Initial Settlement Date”), Citibank shall deliver to the Company, a number of Shares equal to the product of (i) 85% and (ii) the Number of Shares (the “Number of Initial Shares”), upon payment by the Company of the Purchase Price in U.S. dollars.
Initial Settlement. On the third Trading Day immediately following the Purchase Date (the “Initial Settlement Date”), Bank shall deliver to the Company, a number of Shares equal to the product of (i) 85% and (ii) the Number of Shares (the “Number of Initial Shares”), upon payment by the Company of the Purchase Price in U.S. dollars.
Initial Settlement. On the Effective Date of this Agreement, the Ceding Company agrees to pay the Reinsurer an initial settlement equal to $38,684,054. This amount is to be withheld by the Ceding Company in accordance with Article 5. This settlement is comprised of the following amounts:
(a) Quarterly Reinsurance Premium of $1,507,163, which is 0.00085 times the retained net amount at risk on 12/31/2001;
(b) The initial GAAP Reserve of $37,176,891.
Initial Settlement. Completion shall take place on the Completion Date at the offices of the Purchasers' solicitors Lowndes Jordan at 2.15 p.m. or at such other time or place as the parties shall agree at which time the Purchaser shall be entitled to the possession of the business conducted by the Company and the Vendor will hand to the Purchaser:
Initial Settlement. With respect to any portion of the Offered Shares to be purchased and sold hereunder at each Time of Delivery, Credit Suisse First Boston Corporation ("CSFBC"), on behalf of the International Underwriters, may elect to have ADSs in respect of such Shares delivered and paid for hereunder in lieu of, and in satisfaction of the Selling Shareholder's obligation to sell to the several International Underwriters and the several International Underwriters' obligation to purchase, such Shares. Notice of such election with respect to any Time of Delivery shall be given in writing by CSFBC, on behalf of the International Underwriters, to the Selling Shareholder prior to the Notification Time (as hereinafter defined) with respect to such Time of Delivery. The purchase price for each ADS so delivered in lieu of any Firm Shares (the "ADS Purchase Price") is equal to the sum of US$___ and the US$ equivalent (as determined and payable in accordance with the Trust Deed and the Interim Deposit Agreement) of NZ$___ per ADS, less underwriting discounts equal to US$_____ per ADS and the purchase price per ADS for any ADSs so delivered in lieu of any Optional Shares shall be the ADS Purchase Price less such underwriting discounts. The ADS Purchase Price shall be payable in instalments consisting of a first instalment of US$___ per ADS (the "First ADS Instalment") less underwriting discounts equal to US$_____ per ADS and a final instalment of the US$ equivalent of NZ$____ per ADS (the "Final ADS Instalment") as determined and payable in accordance with the Trust Deed and Interim Deposit Agreement. Payment of the First Instalment for the Offered Shares, and the First ADS Instalment in the case of any such Shares taken in the form of ADSs, shall be made at each Time of Delivery and the Final Instalment for such Shares shall be payable as set forth in the Trust Deed and Interim Deposit Agreement (the "Final Instalment Due Date"). With respect to each Time of Delivery, the Shares, in the form of IRs, to be acquired by each of the International Underwriters hereunder at such Time of Delivery and, if an election has been made in accordance with the preceding paragraph, one or more Interim ADRs evidencing the Interim ADSs to be acquired by each International Underwriter at such Time of Delivery, shall be delivered by or on behalf of the Selling Shareholder, as described in the next succeeding paragraph, against payment by CSFBC, on behalf of the International Underwriters, for each Sh...
Initial Settlement. Upon entering into this Agreement, the Ceding Company and the Reinsurer shall make a settlement for the 12-month period starting from the Effective Date of this Agreement (the "Calculation Period") as follows:
(i) Reinsurance Premiums determined in accordance with Article II for the Calculation Period, minus
(ii) any Modified Coinsurance Reserve Adjustment (which may be a negative amount, in which case the absolute value will be added rather than subtracted in this equation), determined in accordance with Article V, Paragraph 1 for the Calculation Period, minus
(iii) Benefit Payments, as described in Article IV for the Calculation Period, minus
(iv) the Premium Taxes, as described in Article I for the Calculation Period, minus
(v) the Expense Allowance, as described in Article III for Calculation Period. If the amount based on the foregoing calculation is positive, the Ceding Company shall pay the Reinsurer such amount and if the amount based on the foregoing calculation is negative, the Reinsurer shall pay the Ceding Company the absolute value of such amount.
Initial Settlement. At the Effective Time: -------------------
(i) Anchor will settle its obligation to pay ANLIC (Hawaii) the Initial Consideration.
(ii) ANLIC (Hawaii) will settle its obligation to pay Anchor: (x) the Initial Reserve Adjustment, and (y) the Ceding Commission.
(iii) A settlement as provided in Section 8.4 will be computed for the Initial Accounting Period for each calendar month thereof.
Initial Settlement. The Settlor to her entire exclusion hereby conveys and transfers the settlement amount to the Original Trustee.
Initial Settlement. CONTRACTOR shall remit all unearned funds to the COUNTY at 0066 Exhibit 2008-09 the time CONTRACTOR submits cost report. In the event that the unit reconciliation indicates that CONTRACTOR delivered the contracted or greater units of service than had been previously reported to the COUNTY'S data system, and total payments made to CONTRACTOR by COUNTY is less than the contract maximum amount, CONTRACTOR may submit an invoice to COUNTY for any additional amounts owed, up to the contract maximum amount, after the units of service have been properly recorded and entered into the COUNTY'S data system.
Initial Settlement. (a) As consideration for the cessions contemplated hereunder, on the date hereof, the Ceding Company or the Reinsurer, as applicable, shall pay in cash by wire transfer of immediately available funds to the other party the Initial Settlement Amount. The "Initial Settlement Amount" is an amount equal to (i) a ceding allowance with respect to the AFLIAC Contracts equal to $(32,581,437.93), MINUS (ii) a ceding allowance with respect to the PL Contracts equal to $90,989,737.71, PLUS (iii) $(49,869,574.76). If the Initial Settlement Amount is a positive number it shall be payable by the Reinsurer, and if it is a negative number, it shall be payable by the Ceding Company.
