Payment of Reinsurance Premium Sample Clauses

Payment of Reinsurance Premium. A. The reinsurance premiums shall be paid to BMA using the rates shown in Exhibit II. B. On issues ceded by individual cessions BMA shall send the CEDING COMPANY each month two copies of a statement listing first year and renewal reinsurance premiums less refunds and allowances which are due during the current month. C. On self-administered business the CEDING COMPANY shall provide the statement to BMA using the format described in Article III Self-Administered Business. D. If a net reinsurance premium balance is payable to BMA the CEDING COMPANY shall pay this balance within forty-five (45) days after the close of that month. If the full balance is not received within the forty-five (45) day period, the reinsurance premiums for reinsurance risks listed on the statement, for which payment was not received, shall be delinquent and the liability of BMA shall cease as of the date reinsurance premium were due. E. If a net reinsurance premium balance is payable to the CEDING COMPANY, BMA shall pay this net balance within forty-five (45) days after the monthly statement was sent to the CEDING COMPANY. If the monthly statement has not been returned within forty-five (45) days, BMA shall assume the CEDING COMPANY has verified and is in agreement with the net balance and shall make payment to the CEDING COMPANY.
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Payment of Reinsurance Premium. The Reinsurer shall be responsible for paying all payments of premiums, payments, fees and other consideration or amounts due under any Third-Party Reinsurance Agreements to the applicable third party reinsurers to the extent such amounts relate to the Covered Policies.
Sample 1Sample 2
Payment of Reinsurance Premium. A. The reinsurance premiums shall be paid to BMA using the rates shown in Exhibits II and IIA, and applying the allowances (Exhibit III) or, percentages or premium (Exhibit IIB), when applicable. B. On self-administered business the CEDING COMPANY shall provide the statement to BMA using the format described in Article III, Self-Administered Business.
Sample 1
Payment of Reinsurance Premium. The Reinsurance Premium shall be paid by Northwestern Mutual or its designee to Reinsurer for each policy reinsured pursuant to the terms of this Agreement. The amount of Reinsurance Premium required to be paid under this Agreement shall be determined on a monthly basis and paid by Northwestern Mutual or its designee on or before the 15th day of the month following the month of such determination.
Sample 1
Payment of Reinsurance Premium. The Reinsurance Premium is payable in arrears after the end of each accounting period. [REDACTED] Within thirty (30) days after the end of each Accounting Period, the Ceding Company will furnish the Reinsurer with a summary report that includes calculated reinsurance premiums, claims, net investment income on the modco account, and Statutory Reserves, for the business covered by this Agreement substantially similar to the following: The Lincoln National Life Insurance Company Reinsurance Settlement Report (to be settled no less often then quarterly) for Lincoln National Reinsurance Barbados, Ltd. MM//YYYY
Sample 1
Payment of Reinsurance Premium a) The reinsurance premium shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within [*] days after the close of each month, the Ceding Company shall send the Reinsurer reporting media in accordance with Article 6. c) If an amount is due the Reinsurer, the Ceding Company will remit that amount together with the statement. d) If an amount is due the Ceding Company, the Reinsurer shall either contest that amount or remit such amount within thirty (30) days of receipt of the statement (the Reinsurer Remittance Date). If the Reinsurer contests, the parties will diligently work to resolve but after fifteen (15) business days that effort is unsuccessful, they will resolve it by means of the dispute resolution provisions in Article 16. When reinsurance premiums due the Reinsurer are deemed delinquent as defined below, a compound interest penalty may be assessed each month the premium remains delinquent. Interest shall be calculated from the day following the date the premium is due and payable to the day such premium payment is remitted or the last day of the accounting period, whichever comes first, not counting holidays and weekends. The rate of interest charged each month shall be the lesser of: [*]
Sample 1
Payment of Reinsurance Premium. A. The reinsurance premiums shall be paid to GENERALI using the rates shown in Exhibits II and IIA, and applying the allowances (Exhibit III) or, percentages of premium (Exhibit IIB), when applicable. B. On self-administered business the CEDING COMPANY shall provide the statement to GENERALI using the format described in Article III, Self-Administered Business.
Sample 1
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Related to Payment of Reinsurance Premium

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • REINSURANCE PREMIUM The YRT Reinsurance Premium for each coverage shall equal (i) x (ii) x (iii) / 1,000, where:

  • Reinsurance Premiums A. The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article. B. The Reinsurance Premium rates and structure described above are subject to change in accordance with the criteria described in Article XV. GMDB AND EPB ------------ C. The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article. GMDB CESSION PREMIUM -------------------- D. The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II. E. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month. This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis. EPB CESSION PREMIUM ------------------- F. The EPB Reinsurance Premium is an asset-based premium rate, expressed in terms of basis points, and is defined in Exhibit II. G. The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the average aggregate account value for the reporting month. This value shall be applied to the annualized EPB reinsurance premium rates per premium class on a 1/12th basis. The total EPB Cession Premium due for the month is the sum of the premiums calculated for each premium class. SPOUSAL CONTINUANCES -------------------- H. Spousal continuances will be covered under this Agreement to the extent that the surviving spouse satisfies the issue age restrictions and benefit limitations, as described in Schedule A, at time of continuance, and shall be deemed to be terminations followed by subsequent new issues for purposes of calculating Reinsurance Premiums. The new reinsurance premium rate applied shall be based off the attained age of the surviving spouse at the time of election of spousal continuance. After the termination of this Agreement for new cessions, a spousal continuation of a Reinsured Contract may be ceded to this Agreement in accordance with the procedure set forth in Article I, Paragraph D. GMIB ---- I. The GMIB cession premium ("GMIB Reinsurance Premium") is an asset-based premium rate, expressed in terms of basis points, as set forth in Exhibit II, and shall be calculated on an aggregate basis. J. The Cedent shall calculate the Reinsurer's Percentage of the greater of the average aggregate IBB value and the average aggregate account value for the reporting month. This value shall be applied to the annualized GMIB cession premium rates on a 1/12th basis.

  • Insurance Premiums Tenant shall pay or cause to be paid all premiums for the insurance coverage required to be maintained pursuant to Article 9.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax.

  • Late Payment Charge If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of four percent (4%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgages and the other Loan Documents to the extent permitted by applicable law.

  • PREMIUM TAX The Reinsurer will not reimburse the Ceding Company for premium taxes.

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

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