Policy Premiums. The BROKER will be responsible to the GENERAL AGENT and to its companies for all premiums due. Premiums due include the policy premium, state taxes, all tax filing fees, policy and inspection fees and earned premium on any and all binders issued at the request of the broker. Premiums due also include any unearned commissions due the GENERAL AGENT on policies that have been cancelled.
Policy Premiums. BCBSMo and Healthy Alliance mutually agree that, as of the Closing Time, Healthy Alliance shall receive and retain one hundred percent (100%) of the premiums paid by the Policyholders of the Assumed Policies, in consideration of Healthy Alliance's assumption of all of BCBSMo's contractual rights, obligations, liabilities and risks under such Assumed Policies after the Closing Time. All premiums and other receipts on the Assumed Policies (whether in the form of checks, drafts, money orders, postal notes or otherwise) received by any Person allocable to periods after the Closing Time shall be the sole property of Healthy Alliance. BCBSMo shall promptly deliver to Healthy Alliance all premiums and other receipts received by BCBSMo on the Assumed Policies allocable to periods after the Closing Time. All premiums and other receipts delivered shall bear all necessary endorsements required to effect transfer to Healthy Alliance.
Policy Premiums. In addition to the Initial Reinsurance Premium, the Company shall pay to the Reinsurer an amount equal to the Net Premiums recorded by the Company on its books and records in accordance with SAP in connection with the Reinsured Policies from and after the Inception Date (the "Policy Premiums"). "Net Premiums" shall mean (i) gross premiums with respect to the Reinsured Policies less (ii) return premiums with respect to cancellations of Reinsured Policies. Net Premiums may, in any Accounting Period, be a positive or a negative amount.
Policy Premiums. The Reinsurer shall be entitled to 75% of all Net Premiums paid after the Effective Date. Each Cedent hereby agrees to promptly credit to each Funds Withheld Account all such Net Premiums in accordance with Article VIII. In order to secure its liabilities to the Reinsurer, each Cedent shall deposit to its respective Funds Withheld Trust Account, promptly following receipt, an amount equal to 75% of premiums (and amounts collected on reinstatement) collected on Reinsured Policies less any estimated Expense Allowances related to such premiums. In respect of policies reinsured under this Agreement with an inception date before the Execution Date, the Cedents agree to deposit 75% of the Net Premiums received before the Execution Date on those policies in the applicable Funds Withheld Trust Account immediately upon the execution of this Agreement.
Policy Premiums. In addition to the Initial Reinsurance Premium, the Reinsurer shall be entitled to all Net Premiums paid after the Effective Date. Each Cedent hereby agrees to promptly credit to each Funds Withheld Account all such Net Premiums in accordance with Article VIII. In order to secure its liabilities to the Reinsurer, each Cedent shall deposit to its respective Funds Withheld Trust Account, promptly following receipt, an amount equal to premiums (and amounts collected on reinstatement) collected on Reinsured Policies and amounts received under the Ceded Reinsurance Agreements and the Other Ceded Reinsurance less any estimated Expense Allowances related to such premiums.
