Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to COMPANY B, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due COMPANY B to (ii) the date the CEDING COMPANY pays the premium to COMPANY B. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Xxxxx'x seasoned Aaa (the "Interest Rate").
Appears in 1 contract
Samples: Reinsurance Agreement (Farmers Variable Life Separate Account A)
Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to COMPANY BBMA, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due COMPANY B BMA to (ii) the date the CEDING COMPANY pays the premium to COMPANY B. BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Xxxxx'x Mxxxx’x seasoned Aaa (the "“Interest Rate"”).
Appears in 1 contract
Samples: Reinsurance Agreement (Life Investors Variable Life Account A)
Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting undisputed premiums to COMPANY B, BMA such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due COMPANY B BMA to (ii) the date the CEDING COMPANY pays the premium to COMPANY B. BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Xxxxx'x Moody's seasoned Aaa (the "Interest RateRatx").
Appears in 1 contract
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to COMPANY BBMA, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due COMPANY B BMA to (ii) the date the CEDING COMPANY pays the premium to COMPANY B. BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Xxxxx'x seasoned Aaa (the "Interest Rate").
Appears in 1 contract
Samples: Reinsurance Agreement (Southern Farm Bureau Life Variable Life Account)