Monthly Settlement. (a) The Ceding Company shall provide the Reinsurer with a monthly settlement report, no later than the thirtieth (30th) day following the end of each calendar month, with delivery thereof commencing in the month following the month in which the Coinsurance Effective Date occurs (including in such first report the period since the Coinsurance Effective Date). Such monthly settlement report shall be in the form specified in Schedule 4.9 attached hereto.
(b) In the event that such monthly settlement report reflects a net amount owed by the Ceding Company to Reinsurer pursuant to the terms of this Agreement, then the Ceding Company shall also make a wire payment in immediately available funds of such net amount to the account(s) designated therefor in writing by the Reinsurer no later than the tenth (10th) Business Day following Reinsurer’s receipt of such monthly settlement report, except to the extent that the Reinsurer notifies the Ceding Company in writing prior to the expiration of such ten (10) Business Day period of its good faith belief that the report is inaccurate, in which case the parties shall cooperate with each other to resolve the disagreement. In the event that a monthly settlement report reflects a net amount owed by Reinsurer to the Ceding Company pursuant to the terms of this Agreement, Reinsurer shall make a wire payment in immediately available funds of such net amount to the Ceding Company no later than the tenth (10th) Business Day following Reinsurer’s receipt of such monthly settlement report, except to the extent that the Reinsurer notifies the Ceding Company prior to the expiration of such ten (10) Business Day period of its good faith belief that the report is inaccurate, in which case the parties shall cooperate with each other to resolve the disagreement. In the event of any such dispute, the party owing any amount pursuant to such monthly settlement report shall pay such amount in full no later than the fifth (5th) Business Day following settlement of such dispute. Any delinquent amounts payable under this clause (b) shall accrue interest from the date such payment was originally due until the date such payment is made, such interest to accrue at an annual rate equal to the Three-Month London Interbank Offering Rate (LIBOR) as published in the Money Rate Section (or any successor section) of The Wall Street Journal, Eastern Edition (or any successor publication) as determined on the date such payment was originally due.
(c) Purs...
Monthly Settlement. Monthly payments for Paid Claims, Access Fees, Statutory Assessments and related charges, as indicated on the Monthly Settlement Report, are due and payable by the Employer within 31 calendar days following delivery to Employer by BCBSKC of the Monthly Settlement Report. The Employer shall have no grace period for such monthly payment.
Monthly Settlement. On each Settlement Date, the Agent shall direct the Collection Account Bank in writing to distribute all Collections on deposit in the Collection Account in the following order of priority:
(i) first, to each Lock-Box Account Bank, the Collection Account Bank and the Administrator (ratably, based on the amount due and owing at such time) for the payment of the any fees, expenses and indemnities payable for the immediately preceding Yield Period (plus, if applicable, the amount of such fees, expenses and indemnities payable for any prior Yield Period to the extent such amount has not been distributed to the Administrator, the Lock-Box Account Bank or the Collection Account Bank, as applicable); provided, however, that the aggregate amount distributed for the payment of expenses and indemnities pursuant to this clause (i) in any calendar year shall not exceed $50,000; provided, further, that any amounts in excess of such cap not otherwise paid will be payable in subsequent calendar years until paid in full, and such cap shall not apply following the occurrence and during the continuance of an Event of Default;
(ii) second, (x) to the Servicer for the payment of the accrued Servicing Fees payable for the immediately preceding Reporting Period;
(iii) third, to each Investor, all accrued and unpaid Seller Obligations (other than Capital) due to such Investor and each other Investor Party for the immediately preceding Yield Period (including any additional amounts or indemnified amounts payable under Sections 4.03 and 12.01 in respect of such payments), plus, if applicable, the amount of any such Yield, Fees and Breakage Fees (including any additional amounts or indemnified amounts payable under Sections 4.03 and 12.01 in respect of such payments) payable for any prior Yield Period to the extent such amount has not been distributed to such Investor or Investor Party;
(iv) fourth, as set forth in clauses (x), (y) and/or (z) below, as applicable:
Monthly Settlement. On each Settlement Report Date, the Servicer shall deliver to BAFC, the Administrative Agent, the Letter of Credit Agent and the Trustee a Monthly Settlement Statement in the Form of Exhibit C setting forth, among other things, the Series 2000-1 Accrued Interest, the Series 2000-1 Monthly Servicing Fee and the Series 2000-1 Invested Amount.
Monthly Settlement. On each Settlement Report Date, the ------------------ Master Servicer shall deliver to the Trustee, the Funding Agent and the Liquidation Servicer a Monthly Settlement Report in the Form of Exhibit E to --------- this Supplement setting forth, among other things, the Series 2000-1 Loss Reserve Ratio, the Series 2000-1 Dilution Reserve Ratio, the Series 2000-1 Minimum Ratio, the Series 2000-1 Ratio, the Series 2000-1 Carrying Cost Reserve Ratio, the Series 2000-1 Servicing Reserve Ratio, the Series 2000-1 Monthly Interest, the Series 2000-1 Additional Interest, the Series 2000-1 Monthly Servicing Fee, the Series 2000-1 Monthly Principal Payment, the Servicer Advances made by the Master Servicer during the related Settlement Period, and Outstanding Amount Advanced as of the end of the related Settlement Period, each as recalculated for the period until the next succeeding Settlement Report Date. The Funding Agent shall forward a copy of each Monthly Settlement Report to any Series 2000-1 Purchaser upon request by such Series 2000-1 Purchaser.
Monthly Settlement. At the end of each month, the Carriers will submit invoices to the other via the Airline Clearing House (ACH) as follows:
(i) Continental will bxxx Gulfstream the sum of all Advance Payments made to Gulfstream with respect to such month (including an allocation of any weekly advance that covers the end of one month and the beginning of the next month).
(ii) Continental will bxxx Gulfstream, as and when reasonably quantified, all credit card discount and processing fees and charges, credit card chargebacks, CRS booking fees, reservations and sales accounting charges and other deductions permitted in accordance with this Agreement with respect to revenue on CO* Flights.
(iii) Gulfstream will bxxx Continental the actual revenue it earned with respect to tickets on Continental ticket stock as determined in accordance with Section 4 hereto, not including taxes, passenger facility charges, commissions and other appropriate deductions from the fare, as evidenced by Continental coupons lifted by Gulfstream on CO* Flights during the month. The net amount due to Continental or Gulfstream will be settled through normal ACH procedures. Subject to Gulfstream’s obligation to reimburse Continental for such payments, Continental will remit to the appropriate authority all taxes, passenger facility charges and other fees with respect to coupons for CO* flights issued on Continental ticket stock, and will remit, as appropriate (or allow the offset of), all commissions with respect to such coupons.
Monthly Settlement. Party A shall perform an acceptance test of the products within two (2) days upon receipt of the delivery from Party B. Should any letter of guarantee be issued upon acceptance, Party A shall inform Party B to issue a 36-month Warranty Bond in the amount of 5% of total value of the actual accepted products and a VAT invoice in the amount of 17% of total value of the actual accepted products. Party A shall pay for the processing charges fro this particular batch upon receipt of the Warranty Bond and VAT invoice (subject to those received before 25th each month);
Monthly Settlement. Owner and Manager will meet ------------------ monthly to determine funds owed to each respective party and shall exchange checks to settle any such outstanding amounts.
Monthly Settlement. Unless otherwise agreed to by both Parties, the settlement provisions in the WSPP Agreement shall be used to settle both the Service Fee and Replacement Cost described above.
Monthly Settlement. Party A shall, within the first five working days of each month, issue a xxxx to Party B of the working hours for the consulting services provided by Party A to Party B during the last month at the rates agreed by the Parties. The xxxx shall indicate the working hours of consulting service provided to Party B, and Party B shall, within thirty working days after its receipt of the xxxx, pay to Party A the consulting service fee in accordance with the amount in the xxxx.
