Common use of Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company Clause in Contracts

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing first year and renewal premiums, expense allowances, benefits, reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsured. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx rate as published in the Money Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of Wisconsin. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing first year and renewal premiums, expense allowances, benefits, reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsured. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx rate as published in the Money Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of WisconsinMissouri. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing that references this Agreement and lists first year and renewal reinsurance premiums, expense allowances, benefits, statutory reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsuredIII. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section paragraph 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx Bill rate as published in the Money Rate Section or any successor succesxxx section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of WisconsinNew York. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) calendar days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing that references this Agreement and lists first year and renewal reinsurance premiums, expense allowances, benefits, statutory reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsuredIII. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) calendar days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 8.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays holicalendar days and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx Bill rate as published in the Money Rate Section or any successor xxxcessor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of WisconsinPennsylvania. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing that references this Agreement and lists first year and renewal reinsurance premiums, expense allowances, benefits, statutory reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsuredIII. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section paragraph 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx Bill rate as published in the Money Rate Section or any xxx successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of WisconsinMichigan. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing first year and renewal premiums, expense allowances, benefits, reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsured. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 9.1 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 30-Day Treasury Xxxx Bill rate as published in the Money Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of Wisconsin. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing that references this Agreement and lists first year and renewal reinsurance premiums, expense allowances, benefits, statutory reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsured.Ill. c) If the net reinsurance premium balance is payable to the ReinsurertheReinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx rate as published in the Money Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent [*] or (ii) the maximum rate allowed by law in the State of WisconsinNebraska. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each month, the Ceding Company shall send the Reinsurer a copy of a statement listing first year and renewal premiums, expense allowances, benefits, reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsured. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include this payment with the statement. If the net reinsurance premium balance is not received by the Reinsurer within thirty (30) days after the close of the month, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (i) the 30 Day Treasury Xxxx Bill rate as published in the Money Xxxxy Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of WisconsinIowa. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.

Payment of Reinsurance Premiums and Interest Penalties by the Ceding Company. a) The reinsurance premiums shall be paid to the Reinsurer on the basis stated in Exhibit I. b) Within twenty-five (25) days after the close of each Each month, the Reinsurer will send the Ceding Company shall send two copies of the Reinsurer a copy of a statement listing that references this Agreement and lists first year and renewal reinsurance premiums, expense allowances, benefits, statutory reserves and other data mutually agreed upon by both parties as described in Exhibit IV. If more than one reinsurance agreement exists between the Ceding Company and the Reinsurer, the statement shall clearly identify the agreement under which the respective policies are reinsuredIII. c) If the net reinsurance premium balance is payable to the Reinsurer, the Ceding Company must include pay this payment with balance within thirty (30) days after the statementclose of that month. If the net next reinsurance premium balance is not received by the Reinsurer within the thirty (30) days after the close of the monthday period, the reinsurance premiums for all of the reinsurance risks listed on the statement will be delinquent. d) When reinsurance premiums due the Reinsurer are deemed delinquent, as defined in Section 9.01 c9.02(c) above, a compound interest penalty may be assessed each month the premiums remain delinquent. Interest shall be calculated from the day following the date the premiums are due and payable to the day such premium payment is mailed or the last day of the accounting period, whichever comes first, regardless of holidays and weekends. The rate of interest charged each month shall be the lesser of (iI) the 30 Day Treasury Xxxx Bill rate as published in the Money Monex Rate Section or any successor section of the Wall Street Journal on the first business day following the date the premiums are deemed delinquent or (ii) the maximum rate allowed by law in the State of Wisconsin. Premiums and interest penalties that remain unpaid shall be carried forward into the next month’s 's interest penalty calculation.