MONTHLY SETTLEMENTS Sample Clauses

MONTHLY SETTLEMENTS. (a) At the end of each Accounting Period, the Cedent shall pay the Reinsurer the sum of: (i) Reinsurance Premium determined in accordance with Article II; and (ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer determined in accordance with Article IV. (b) Simultaneously, the Reinsurer shall pay the Cedent the sum of: (i) Indemnification for Benefit Payments, determined in accordance with Article V; (ii) the Allowance determined in accordance with Article III; (iii) any Modified Coinsurance Reserve Adjustment payable to the Cedent determined in accordance with Article IV; and (iv) any Experience Refund determined in accordance with Article VI.
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MONTHLY SETTLEMENTS. A. All monthly settlements associated with the payment of reinsurance premiums, claims, adjustments for investment activity within the funds withheld account, and realized income, gains, or losses shall be on a net cash basis or cash equivalent. If an amount is due the Reinsurer, it shall be paid by the due date of the report. If an amount is due the Ceding Company, it shall be paid within sixty (60) days of receipt of the report. B. Unrealized gains and losses associated with the derivatives held in the funds withheld account will result in an adjustment to the ending funds withheld balance each month.
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MONTHLY SETTLEMENTS. Within 15 business days after the end of each calendar month, the Company will pay the Reinsurer the sum of: (i) the reinsurance premiums for the preceding month, determined in accordance with Article III, plus (ii) the policy loan repayments and policy loan interest paid in the preceding month, plus (iii) any amounts received from other reinsurance companies. The Monthly Settlement Report is attached as Schedule D.
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MONTHLY SETTLEMENTS. Reinsurer shall make reimbursement payments to the ------------------- Company monthly for any actual or estimated monthly administrative expenses, premium taxes, licenses, fees or assessments incurred by the Company. Such payments are due within 20 Business Days after the end of each month in which they were incurred. Reinsurer's actual or estimated administrative or commission expenses incurred are also deemed payable at that time. By mutual agreement, certain expenses may be added to or deleted from this monthly reimbursement.
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MONTHLY SETTLEMENTS. (a) On or prior to each Payment Date -------------------- immediately following each monthly Accounting Period, Anchor will settle its obligation to pay ANLIC (Hawaii) for such Accounting Period the sum of: (i) the Modco Reinsurance Premiums, determined in accordance with Section 3.2(a); plus ---- (ii) any Net Separate Account Transfer CARVM Reserve Adjustment, determined in accordance with Section 3.4; plus ---- (iii) any Modified Coinsurance Reserve Adjustment payable to ANLIC (Hawaii), determined in accordance with Section 6.2; plus ---- (iv) the Anchor Payment Amounts. (b) Simultaneously with the payments in Section 8.4(a), ANLIC (Hawaii) will settle its obligation to pay Anchor the sum of: (ii) the Allowance for Commissions, determined in accordance with Section 4.3; plus ---- (iii) the Allowance for Expense, determined in accordance with Section 4.4; plus ---- (iv) the Anchor YRT Reinsurance Premium Refund, if any, determined in accordance with Section 4.6; plus ---- (v) any Net Fixed Account Transfer CARVM Reserve Adjustment, determined in accordance with Section 4.7; plus ---- (vi) any amount determined in accordance with Section 4.8; plus ---- (vii) any Modified Coinsurance Reserve Adjustment payable to Anchor, determined in accordance with Section 6.2; plus ---- (viii) any Anchor YRT Expense Recovery.
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MONTHLY SETTLEMENTS. The Company shall make reimbursement payments to ------------------- the Reinsurer and PHS New York monthly for any actual or estimated monthly administrative expenses or assessments incurred by them. Such payments are due within 20 Business Days after the end of each month in which they were incurred. The Company's actual or estimated administrative expenses, premium taxes, fees, assessments or commission expenses incurred are also deemed payable at that time. By mutual agreement, certain expenses may be added to or deleted from this monthly reimbursement. PHS New York shall be reimbursed for any amounts owed, net of any reimbursements made as specified in Sections 5.2 and 6. 1. Such amounts are subject to the settlement process described herein and shall be included in Schedules C and E as part of the Quarterly Accounting Reports.
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MONTHLY SETTLEMENTS a. No later than three (3) business days after the Retrocessionaire’s receipt of the report sent by the Retrocedent in accordance with Section 5.01(a) above, the Retrocedent or Retrocessionaire, as the case may be, shall remit any amounts shown to be due from the report, including without limitation, the items set forth in Articles VI and Article VII of the Sentinel Reinsurance Agreement and Article V of this Agreement. Without limiting the foregoing, with respect to the Retroceded Policies: (1) The Retrocedent shall pay to the Retrocessionaire the: (a) true-up amount, if any, as provided in Section 4.02; (b) Option Payoffs as provided in Schedule C of this Agreement; (c) Quota Share of net premiums received by the Retrocedent; (d) Quota Share of collections and recoveries as provided in Section 5.01(c); (e) Quota Share of commission chargebacks received by the Retrocedent as provided in Schedule C of the Sentinel Reinsurance Agreement; (f) such other amounts payable by the Retrocedent under this Agreement. (2) The Retrocessionaire shall pay to the Retrocedent the: (a) true-up amount, if any, as provided in Section 4.02; (b) Option Budget as provided in Schedule C of this Agreement; (c) Quota Share of commissions as provided in Schedule C of the Sentinel Reinsurance Agreement; (d) Quota Share of Administration Expenses for the Policy Liabilities as provided in Schedule C of the Sentinel Reinsurance Agreement; (e) paid Quota Share of Policy Liabilities; and (f) such other amounts payable by the Retrocessionaire under this Agreement. For the avoidance of doubt, any amounts shown to be due from the Retrocedent to the Retrocessionaire shall be offset against amounts shown to be due from the Retrocessionaire to the Retrocedent and vice versa and only net amounts shall be paid.
Sample 1
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MONTHLY SETTLEMENTS. (a) Within 15 business days after the end of each calendar month, the Company will pay the Reinsurer the sum of: (i) the reinsurance premiums for the preceding month, determined in accordance with Article III, plus (ii) the policy loan repayments and policy loan interest paid in the preceding month, plus (iii) any amounts received from other reinsurance companies. (b) Simultaneously, the Reinsurer will pay the Company the sum of: (i) the amount of benefits paid during the preceding month on the policies reinsured hereunder, plus (ii) the commission and expense allowance determined in accordance with Schedule C, plus (iii) new policy loans paid to policyholders in the preceding calendar month, plus (iv) any amounts paid to other reinsurance companies.
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MONTHLY SETTLEMENTS. 1. Within thirty (30) days following the end of each calendar month in which this Agreement is in effect, NORTHBROOK shall pay to ALLSTATE, with respect to eligible policies under this Agreement, a reinsurance premium equal to (or the accounting equivalent of) the sum Items (a) and (b) below less the sum of Items (c), (d) and (e) below. (a) Gross premiums (direct and reinsurance assumed) collected by NORTHBROOK during the month. (b) Reserves transferred from a NORTHBROOK Separate Account to the NORTHBROOK General Account during the month. (c) Gross premiums refunded by NORTHBROOK during the month to policyholders. (d) Reserves transferred from the NORTHBROOK General Account to a NORTHBROOK Separate Account during the month. (e) Reinsurance premiums paid by NORTHBROOK during the month to reinsurers other than ALLSTATE. 2. Within thirty (30) days following the end of each calendar month in which this Agreement is in effect, ALLSTATE shall pay to NORTHBROOK a benefit and expense allowance equal to (or the accounting equivalent of) the sum of Items (a), (b), (c) and (d) below. (a) Net benefits (as defined in Article II, Paragraph 1) paid by NORTHBROOK during the month with respect to the policies ceded under this Agreement. (b) Commissions and other sales compensation incurred by NORTHBROOK during the month with respect to the policies ceded under this Agreement. (c) General insurance expenses incurred by NORTHBROOK during the month with respect to the policies ceded under this Agreement. (d) Insurance taxes, licenses and fees (excluding Federal Income Tax) incurred by NORTHBROOK during the month with respect to the policies ceded under this Agreement.
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Related to MONTHLY SETTLEMENTS

  • Early Settlement (a) Subject to and upon compliance with the provisions of this Section 4.06, prior to the close of business on the second Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date, a Holder may elect to settle its Purchase Contracts early, in whole or in part, at the Early Settlement Rate (“Early Settlement Right”). (b) A Holder’s right to receive Common Stock upon Early Settlement of any of its Purchase Contracts is subject to the following conditions (in the case of Global Securities, subject to the applicable procedures of the Depositary): (i) delivery of a written and signed notice of election (an “Early Settlement Notice”) in the form attached to the Purchase Contract to the Purchase Contract Agent electing Early Settlement of such Purchase Contract; and (ii) satisfaction of the conditions set forth in Section 4.04. (c) If a Holder complies with the requirements set forth in Section 4.06(b) prior to the close of business on any Business Day, then that Business Day shall be considered the “Early Settlement Date.” If a Holder complies with the requirements set forth in Section 4.06(b) at or after the close of business on any Business Day or at any time on a day that is not a Business Day, then the next succeeding Business Day shall be considered the “Early Settlement Date.” (d) On the second Business Day following the Early Settlement Date, subject to satisfaction of the conditions set forth in Section 4.06(b) by a Holder with respect to any of its Purchase Contracts, the Company shall cause a number of shares of Common Stock per Purchase Contract equal to the Early Settlement Rate to be issued and delivered, together with payment of (i) any cash payable in lieu of fractional shares pursuant to Section 4.12 and (ii) any dividends or distributions with respect to such shares constituting part of the Purchase Contract Settlement Fund (but without any interest thereon), to such Holder by book-entry transfer or other appropriate procedures pursuant to Section 4.10. The Person in whose name any shares of the Common Stock shall be issuable upon such Early Settlement of a Purchase Contract shall be treated as the holder of record of such shares as of the close of business on the relevant Early Settlement Date. (e) In the event that Early Settlement is effected with respect to Purchase Contracts that are a component of Units, upon such Early Settlement, the Company shall execute and the Trustee shall authenticate (pursuant to the Indenture) on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company, Separate Notes, in same form as the Notes comprising part of the Units, equal to the number of Purchase Contracts as to which Early Settlement was effected. (f) In the event that Early Settlement is effected with respect to Purchase Contracts represented by less than all the Purchase Contracts evidenced by a Security, upon such Early Settlement, the Company shall execute and the Purchase Contract Agent and Trustee shall authenticate on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company, a Security evidencing the Purchase Contracts as to which Early Settlement was not effected. (g) Upon receipt of any Early Settlement Notice pursuant to Section 4.06(b), the Purchase Contract Agent shall promptly deliver a copy of such Early Settlement Notice to the Company.

  • Contractual Settlement Date Accounting (a) Bank shall effect book entries on a "contractual settlement date accounting" basis as described below with respect to the settlement of trades in those markets where Bank generally offers contractual settlement day accounting and shall notify Customer of these markets from time to time.

  • Net Out of Settlement Amounts The Non-Defaulting Party shall calculate a Termination Payment by aggregating all Settlement Amounts due under this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply into a single amount: by netting out (a) all Settlement Amounts that are due or will become due to the Defaulting Party, plus at the option of the Non-Defaulting Party, any cash or other form of security then available to the Non- Defaulting Party and actually received, liquidated and retained by the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply against (b) all Settlement Amounts that are due or will become due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement or any other agreement(s) between the Company and the BGS- RSCP Supplier for the provision of BGS Supply, so that all such amounts shall be netted out to a single liquidated amount; provided, however, that if the BGS-RSCP Supplier is the Defaulting Party and the Termination Payment is due to the BGS-RSCP Supplier, the Company shall be entitled to retain a commercially reasonable portion of the Termination Payment, which may be equal to the entire amount of the Termination Payment, as security for additional amounts that may be determined to be due and owing by the BGS-RSCP Supplier as Damages and further provided that any previously attached security interest of the Company in such retained amounts shall continue. The Termination Payment shall be due to or due from the Non-Defaulting Party as appropriate. If the Termination Payment has been retained by the Company as security for additional amounts that may be determined to be due and owing by the BGS-RSCP Supplier, and if, upon making a final determination of Damages, the Termination Payment, or any portion thereof, is to be made to the BGS-RSCP Supplier, the Company will pay simple interest on the Termination Payment amount being made to the BGS-RSCP Supplier. Simple interest will be calculated at the lower of the Interest Index or six (6) percent per annum.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Execution Date, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP for deposit into the Trust Account. The Settlement Amount shall be converted into Canadian currency upon deposit into the Trust Account. (2) The Settling Defendants shall deposit the Settlement Amount into the Trust Account by wire transfer. Siskinds LLP shall provide the necessary wire transfer information to Counsel for the Settling Defendants with reasonable advance notice so that the Settling Defendants have a reasonable period of time to comply with section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including without limitation, interest, costs, Class Counsel Fees and Class Counsel Disbursements. (5) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings or any Other Actions. (6) Once a Claims Administrator has been appointed, Siskinds LLP shall transfer control of the Trust Account to the Claims Administrator. (7) Siskinds LLP and the Claims Administrator shall maintain the Trust Account as provided for in this Settlement Agreement. While in control of the Trust Account, Siskinds LLP and the Claims Administrator shall not pay out all or part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.

  • Actual Settlement Date Accounting With respect to any sale or purchase transaction that is not posted to the Account on the contractual settlement date as referred to in Section 2.5, Bank shall post the transaction on the date on which the cash or Financial Assets received as consideration for the transaction is actually received by Bank.

  • Payments from the Gross Settlement Amount Within 14 days after Defendants fund the Gross Settlement Amount, the Administrator will mail checks for all Individual Class Payments, all Individual PAGA Payments, the LWDA PAGA Payment, the Administration Expenses Payment, the Class Counsel Fees Payment, the Class Counsel Litigation Expenses Payment, and the Class Representative Service Payment. Disbursement of the Class Counsel Fees Payment, the Class Counsel Litigation Expenses Payment and the Class Representative Service Payment shall not precede disbursement of Individual Class Payments and Individual PAGA Payments. 4.4.1. The Administrator will issue checks for the Individual Class Payments and/or Individual PAGA Payments and send them to the Class Members via First Class U.S. Mail, postage prepaid. The face of each check shall prominently state the date (not less than 180 days after the date of mailing) when the check will be voided. The Administrator will cancel all checks not cashed by the void date. The Administrator will send checks for Individual Settlement Payments to all Participating Class Members (including those for whom Class Notice was returned undelivered). The Administrator will send checks for Individual PAGA Payments to all Aggrieved Employees including Non-Participating Class Members who qualify as Aggrieved Employees (including those for whom Class Notice was returned undelivered). The Administrator may send Participating Class Members a single check combining the Individual Class Payment and the Individual PAGA Payment. Before mailing any checks, the Settlement Administrator must update the recipients’ mailing addresses using the National Change of Address Database. 4.4.2. The Administrator must conduct a Class Member Address Search for all other Class Members whose checks are retuned undelivered without USPS forwarding address. Within 7 days of receiving a returned check the Administrator must re-mail checks to the USPS forwarding address provided or to an address ascertained through the Class Member Address Search. The Administrator need not take further steps to deliver checks to Class Members whose re-mailed checks are returned as undelivered. The Administrator shall promptly send a replacement check to any Class Member whose original check was lost or misplaced, requested by the Class Member prior to the void date. 4.4.3. For any Class Member whose Individual Class Payment check or Individual PAGA Payment check is uncashed and cancelled after the void date, the Administrator shall transmit the funds represented by such checks to the California Controller's Unclaimed Property Fund in the name of the Class Member thereby leaving no "unpaid residue" subject to the requirements of California Code of Civil Procedure Section 384, subd. (b). 4.4.4. The payment of Individual Class Payments and Individual PAGA Payments shall not obligate Defendants to confer any additional benefits or make any additional payments to Class Members (such as 401(k) contributions or bonuses) beyond those specified in this Agreement.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 9 below, Defendant promises to pay $633,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Section 5 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Contractual Settlement Unless the parties agree to the contrary, the Custodian will attend to the settlement of securities transactions in accordance with the Custodian's standard operating procedure, on the basis of either contractual settlement date accounting or actual settlement date accounting. To the extent the Custodian settles certain securities transactions on the basis of contractual settlement date accounting, the Custodian may reverse with back value to the contractual settlement date any entry relating to such contractual settlement if the Custodian reasonably believes that such amount will not be received.

  • Cash Settlement If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.

  • Settlement Payments On the first Business Day of each month (“Interest Settlement Date”), Agent will advise each Lender by telephone, fax or telecopy of the amount of such Lender’s share of interest and fees on each of the Loans as of the end of the last day of the immediately preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender’s account (as specified by such Lender on the signature page of this Agreement or the applicable Assignment and Acceptance Agreement, as amended by such Lender from time to time after the date hereof or in the applicable Assignment and Acceptance Agreement) not later than 3:00 p.m. Toronto time on the next Business Day following the Interest Settlement Date, such Lender’s share of interest and fees on each of the Loans. Such Lender’s share of interest on each Loan will be calculated for that Loan by adding together the Daily Interest Amounts for each calendar day of the prior month for that Loan and multiplying the total thereof by the Interest Ratio for that Loan. Such Lender’s share of the Unused Line Fee described in subsection 2.3(A) shall be an amount equal to (a)(i) such Lender’s average Revolving Loan Commitment during such month, less such Lender’s average Daily Loan Balance of the Revolving Loan for the preceding month, multiplied by (b) the percentage required by subsection 2.3(A). Such Lender’s share of all other fees paid to Agent for the benefit of Lenders hereunder shall be paid and calculated based on such Lender’s Commitment with respect to the Loans on which such fees are associated. To the extent Agent does not receive the total amount of any fee owing by Borrower under this Agreement, each amount payable by Agent to a Lender under this subsection 9.8(A)(4) with respect to such fee shall be reduced on a pro rata basis. Any funds disbursed or received by Agent pursuant to this Agreement, including, without limitation, under subsections 9.7, 9.8(A)(1), and 9.9, prior to the Settlement Date for such disbursement or payment shall be deemed advances or remittances by GE Canada Finance, in its capacity as a Lender, for purposes of calculating interest and fees pursuant to this subsection 9.8(A)(4).

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