Payment to Southern Mutual for Ultimate Net Losses Sample Clauses

Payment to Southern Mutual for Ultimate Net Losses. Donegal Mutual shall pay to Southern Mutual the Quota Share of sums actually paid by Southern Mutual in settlement of the Ultimate Net Losses under the Covered Policies, on and after the Effective Date; provided, however, that in the event of the insolvency of Southern Mutual, Donegal Mutual shall pay such amount to the liquidator, receiver or statutory successor of Southern Mutual in accordance with the provisions of Article 13 of this Agreement.