Payment of Recapture Payment Sample Clauses

Payment of Recapture Payment. (a) If the Recapture Payment as set forth on the Final Recapture Payment Statement is a negative amount, the Reinsurer shall pay to the Cedant an amount equal to such amount. (b) If the Recapture Payment as set forth on the Final Recapture Payment Statement is a positive amount, the Cedant shall pay to the Reinsurer an amount equal to such amount. (c) Payment of any amounts due under this Section 12.4 by either party shall be made to the other party within five (5) Business Days of the date on which the Final Recapture Payment Statement is determined in accordance with Section 12.3. (d) Payment of any amounts under this Section 12.4 shall be made together with simple interest on such amounts at a rate per annum equal to the Recapture Payment Interest Rate, computed based on a 365-day year, from and including the Recapture Date, to, but excluding, the date of payment. All amounts required to be transferred pursuant to this Section 12.4 shall be transferred in cash by wire transfer of immediately available funds. (e) The Final Recapture Payment Statement shall be final and binding upon the parties for purposes of the payments, if any, contemplated by this Section 12.4.