Common use of Premiums and Allowances Clause in Contracts

Premiums and Allowances. The reinsurance base premium rate shall equal the reinsurance share of the premiums collected on the business covered under this treaty. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The allowances for the base plan are described in Exhibit D. Article VIII: Payment of Premiums The reinsurance premiums are payable monthly. The first monthly premium is due within 45 days after the end of the month of issue. The renewal monthly premiums are due and payable within 15 days following the end of each month. The ceding company shall submit monthly reports on new business, first year renewals, regular renewals, changes, terminations and reinstatements. These reports should be in substantial accord with the reporting requirements in Exhibit F. In the event of non-payment of any reinsurance premiums when due, The Guardian’s liability shall continue. However, The Guardian shall have the right to terminate reinsurance coverage for in force business, but only after it has given three months notice in writing of its intention to terminate coverage and only if reinsurance premiums remain unpaid. Such termination cannot be made if an Order of Liquidation of the ceding company is in effect. Any reinsurance which has terminated for nonpayment of premiums may be reinstated within 60 days of the termination date upon payment of all overdue premiums with interest. Interest will be calculated using the 13 week Treasury xxxx rate reported in the “Money Rates” section of the Wall Street Journal or a comparable publication. The interest rate will be the rate reported on the last working day of the calendar month prior to the date of reinstatement. However, The Guardian will have no liability in connection with any claim incurred between the date of termination and the date of reinstatement of reinsurance.

Premiums and Allowances. The reinsurance base premium rate shall equal the reinsurance share of the premiums collected on the business covered under this treaty. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s 's disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The allowances for the base plan are described in Exhibit D. Article VIII: Payment of Premiums The reinsurance premiums are payable monthly. The first monthly premium is due within 45 days after the end of the month of issue. The renewal monthly premiums are due and payable within 15 days following the end of each month. The ceding company shall submit monthly reports on new business, first year renewals, regular renewals, changes, terminations and reinstatements. These reports should be in substantial accord with the reporting requirements in Exhibit F. In the event of non-payment of any reinsurance premiums when due, The Guardian’s 's liability shall continue. However, The Guardian shall have the right to terminate reinsurance coverage for in force business, but only after it has given three months notice in writing of its intention to terminate coverage and only if reinsurance premiums remain unpaid. Such termination cannot be made if an Order of Liquidation of the ceding company is in effect. Any reinsurance which has terminated for nonpayment of premiums may be reinstated within 60 days of the termination date upon payment of all overdue premiums with interest. Interest will be calculated using the 13 week Treasury xxxx bill rate reported in the “"Money Rates” " section of the Wall Street Journal Xxxrnal or a comparable publication. The interest rate will be the rate reported on the last working day of the calendar month prior to the date of reinstatement. However, The Guardian will have no liability in connection with any claim incurred between the date of termination and the date of reinstatement of reinsurance.

Premiums and Allowances. The reinsurance base premium rate shall equal the reinsurance share of the premiums collected on the business covered under this treaty. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s 's disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The allowances for the base plan are described in Exhibit D. Article VIII: Payment of Premiums The reinsurance premiums are payable monthly. The first monthly premium is due within 45 days after the end of the month of issue. The renewal monthly premiums are due and payable within 15 days following the end of each month. The ceding company shall submit monthly reports on new business, first year renewals, regular renewals, changes, terminations and reinstatements. These reports should be in substantial accord with the reporting requirements in Exhibit F. In the event of non-payment of any reinsurance premiums when due, The Guardian’s 's liability shall continue. However, The Guardian shall have the right to terminate reinsurance coverage for in force business, but only after it has given three months notice in writing of its intention to terminate coverage and only if reinsurance premiums remain unpaid. Such termination cannot be made if an Order of Liquidation of the ceding company is in effect. Any reinsurance which has terminated for nonpayment of premiums may be reinstated within 60 days of the termination date upon payment of all overdue premiums with interest. Interest will be calculated using the 13 week Treasury xxxx bill rate reported in the “"Money Rates” " section of the Wall Street Sxxxxt Journal or a comparable publication. The interest rate will be the rate reported on the last working day of the calendar month prior to the date of reinstatement. However, The Guardian will have no liability in connection with any claim incurred between the date of termination and the date of reinstatement of reinsurance.

Premiums and Allowances. The reinsurance base premium rate shall equal the reinsurance share of the premiums collected on the business covered under this treaty. The reinsurance premium for the Waiver of Premium benefit shall be the proportionate share of the ceding company’s 's disability premium less the following percentages of premium discount: 75% in the first year and 10% in renewal years. The allowances for the base plan are described in Exhibit D. Article VIII: Payment of Premiums The reinsurance premiums are payable monthly. The first monthly premium is due within 45 days after the end of the month of issue. The renewal monthly premiums are due and payable within 15 days following the end of each month. The ceding company shall submit monthly reports on new business, first year renewals, regular renewals, changes, terminations and reinstatements. These reports should be in substantial accord with the reporting requirements in Exhibit F. In the event of non-payment of any reinsurance premiums when due, The Guardian’s 's liability shall continue. However, The Guardian shall have the right to terminate reinsurance coverage for in force business, but only after it has given three months notice in writing of its intention to terminate coverage and only if reinsurance premiums remain unpaid. Such termination cannot be made if an Order of Liquidation of the ceding company is in effect. Any reinsurance which has terminated for nonpayment of premiums may be reinstated within 60 days of the termination date upon payment of all overdue premiums with interest. Interest will be calculated using the 13 week Treasury xxxx bill rate reported in the “"Money Rates” " section of the Wall Street Xxxeet Journal or a comparable publication. The interest rate will be the rate reported on the last working day of the calendar month prior to the date of reinstatement. However, The Guardian will have no liability in connection with any claim incurred between the date of termination and the date of reinstatement of reinsurance.