Common use of Monthly Cash Statements and Settlements Clause in Contracts

Monthly Cash Statements and Settlements. By the end of the twentieth Business Day next succeeding the end of each calendar month, the Reinsurer will provide the Company with a statement for the next preceding calendar month (the "Monthly Statement"). Monthly Statements shall be a form agreed to by the Company and the Reinsurer in writing. The Monthly Statement shall include an itemization of any deficit or surplus attributable to the actual or projected investment performance of Unregistered Separate Account assets, with a reflection of funding by Reinsurer of any deficit amount is required, under the terms of this Agreement, to be funded and not reflected as a payable from the General Account to the Separate Accounts. The Monthly Statement may also reflect a correction or adjustment of prior Monthly Statements or computations thereto. The Reinsurer or the Company, as the case may be, will pay by wire transfer of immediately available funds the net amount reflected as due in a Monthly Statement within three Business Days of provision of the Monthly Statement to the Company. Any further adjustment as may be required shall be made promptly following agreement of the parties or completion of any audit pursuant to Section 6.03(d) below.