Premium Accounting. The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C. The method and requirements for reporting and remitting premiums are outlined in Exhibit F. The Reinsurer reserves the right to charge interest on overdue premiums. The interest will be calculated according to the terms and conditions specified in Exhibit C.
Premium Accounting. A. If reinsurance premiums are not paid by the REMITTANCE DATE, interest in accordance with Article III, paragraph F will be assessed from the REMITTANCE DATE.
Premium Accounting. A. On or before the REMITTANCE DATE, CEDING COMPANY shall forward to REINSURER its statement of account and data requirements as set forth in Schedule F together with its remittance of the MONTHLY REINSURANCE PREMIUM as shown therein, as well as any premium adjustments from the prior period.
Premium Accounting. 6.1 PREMIUMS Reinsurance premium rates for life insurance and other benefits reinsured under this Agreement are shown in Exhibit D. The rates will be applied to the reinsured net amount at risk. The Ceding Company will pay MARC the percentages of the premium rates shown in Exhibit D.
Premium Accounting. 10 6.1 Premiums 6.2 Payment of Premiums 6.3 Overpayment of Premiums 6.4 Delayed Payment 6.5 Underpayment of Premiums 6.6 Failure to Pay Premiums 6.7 Premium Rate Guarantee ARTICLE 7 - REDUCTIONS, TERMINATIONS AND CHANGES.......................... 13 7.1 Reductions and Terminations 7.2 Increases 7.3 Risk Classification Changes 7.4 Reinstatement 7.5 Nonforfeiture Benefits
Premium Accounting. The Agent and the Company shall comply with the following accounting procedures:
Premium Accounting. Reinsurer will be entitled to receive one hundred percent (100%) of all premiums and other amounts with respect to the Reinsured Policies (“Premiums”) that are received at or after the Effective Time, including, without limitation, amounts received in payment of Premiums Receivable as of the Effective Time, and all such Premiums will be the sole property of Reinsurer. Reinsurer will be authorized to endorse for payment to Reinsurer all checks, drafts and money orders payable to Ceding Company as payment of Premiums that are received at or after the Effective Time. Ceding Company hereby assigns to Reinsurer, as of the Effective Time, all of its rights and privileges to draft or debit the accounts of any Policyholders for Premiums, including existing pre-authorized bank draft or electronic fund transfer arrangements between Ceding Company and such Policyholders. Ceding Company will promptly (but in no event later then five (5) business days following Ceding Company’s receipt thereof) endorse and remit, and hereby assigns to Reinsurer, any Premiums received at or after the Effective Time. All Premiums received before the Effective Time will be retained by Ceding Company.
Premium Accounting. A. Integrity Life shall forward to Connecticut General on or before the last calendar day of April, July, October, and January a quarterly statement as set forth in Schedule E. Integrity Life shall also remit any premium due for the prior quarter along with an advance minimum premium for the current quarter, in accordance with Section (2) of Article V.
Premium Accounting. A. If reinsurance premiums are not paid by the REMITTANCE DATE, interest in accordance with Article III, paragraph E will be assessed from the REMITTANCE DATE. The payment of interest, however, shall not prohibit the REINSURER from exercising its right to terminate the treaty for non-payment of reinsurance premiums in accordance with Article III, paragraph D.2.
Premium Accounting. Ceding Company shall forward to Reinsurer within 30 days of the end of the reporting period a monthly statement substantially similar to that set forth in Schedule E. Reinsurance premiums submitted by Ceding Company shall be net of claims incurred. If a balance is due Reinsurer, Ceding Company shall remit any balance due for the prior month along with an advance premium for the current month, in accordance with Article V.
