Common use of PAYMENTS BY THE REINSURER AND THE CEDING COMPANY Clause in Contracts

PAYMENTS BY THE REINSURER AND THE CEDING COMPANY. The Reinsurer shall pay, to the Ceding Company, the Reinsured Liabilities in accordance with this Article III. The Ceding Company shall pay, as consideration for the reinsurance provided herein, and subject in any event to Reinsurer's compliance with and performance of the terms and conditions of the Transaction Agreements, to the Reinsurer [REDACTED], and all other payments, collections and recoveries relating to Covered Insurance Policies actually received by the Ceding Company pursuant to the Covered Insurance Policies from and after the Effective Time (the "Recoverables"). The Recoverables will be held by the Ceding Company in the Modified Coinsurance Account and reflected in the immediately succeeding Accounting Report in accordance with this Article III. The Parties acknowledge and agree that the Ceding Company retains all right, title and interest to all Premiums and other amounts received with respect to the Covered Insurance Policies, subject to its contractual obligations under this Agreement to pay corresponding amounts over to the Reinsurer. The Parties acknowledge and agree that Reinsurer shall be responsible for and has hereby assumed the financial risk of any uncollected or uncollectible Recoverables.

PAYMENTS BY THE REINSURER AND THE CEDING COMPANY. The Reinsurer shall pay, to the Ceding Company, the Reinsured Liabilities in accordance with this Article III. The Ceding Company shall pay, as consideration for the reinsurance provided herein, and subject in any event to Reinsurer's compliance with and performance of the terms and conditions of the Transaction Agreements, to the Reinsurer [REDACTED], ] and all other payments, collections and recoveries relating to Covered Insurance Policies actually received by the Ceding Company pursuant to the Covered Insurance Policies from and after the Effective Time (the "Recoverables"). The Recoverables will be held by the Ceding Company in the Modified Coinsurance Account and reflected in the immediately succeeding Accounting Report in accordance with this Article III. The Parties acknowledge and agree that the Ceding Company retains all right, title and interest to all Premiums and other amounts received with respect to the Covered Insurance Policies, subject to its contractual obligations under this Agreement to pay corresponding amounts over to the Reinsurer. The Parties acknowledge and agree that Reinsurer shall be responsible for and has hereby assumed the financial risk of any uncollected or uncollectible Recoverables.