Interest Calculation on Late Payments. Any amounts remaining unpaid for more than 30 days from the due date as specified in Exhibit F or otherwise required will accrue interest from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) as published in the Wall Street Journal (or if not available, a comparable publication) on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.
Appears in 5 contracts
Samples: Automatic Self Administered Yrt Reinsurance Agreement (Thrivent Variable Life Account I), Automatic Self Administered Yrt Reinsurance Agreement (Thrivent Variable Life Account I), Reinsurance Agreement (Nationwide VL Separate Account-G)
Interest Calculation on Late Payments. Any amounts remaining unpaid for more than 30 days from the due date as specified in Exhibit F G or otherwise required will accrue interest from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) as published in the Wall Street Journal (or if not available, a comparable publication) on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.
Appears in 2 contracts
Samples: Automatic Self Administered Yrt Reinsurance Agreement (American National Variable Life Separate Account), Automatic Self Administered Yrt Reinsurance Agreement (American National Variable Life Separate Account)
Interest Calculation on Late Payments. Any amounts remaining unpaid for more than 30 days from the due date as specified in Exhibit F or For otherwise required will accrue interest from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) as published in the Wall Street Journal (or if not available, a comparable publication) on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.
Appears in 1 contract
Samples: Automatic Yrt Reinsurance Agreement (First Investors Life Level Premium Variable Lif Ins Sep Ac B)
Interest Calculation on Late Payments. Any Premiums or other amounts remaining unpaid for more than 30 days from the due date as specified in Exhibit F or otherwise required will accrue interest from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) as published in the Wall Street Journal (or if not available, a comparable publication) on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.
Appears in 1 contract
Samples: Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1)
