Common use of Quarterly Payments Clause in Contracts

Quarterly Payments. If a Quarterly Accounting reflects a balance due to the Company, the amount(s) shown as due shall be paid within ten (10) Business Days of the preparation of the Quarterly Accounting. If a Quarterly Accounting reflects a balance due to the Reinsurer, the amount(s) shown as due shall be paid within ten (10) Business Days after the date on which the Quarterly Accounting was prepared. Any such balance payable by the Reinsurer from the Reinsurer’s Risk Control Separate Accounts or the Declared Rate Separate Accounts shall be satisfied solely from assets of the Reinsurer’s Risk Control Separate Accounts or Declared Rate Separate Accounts . Any such balance payable on account of a Variable Separate Account shall be satisfied solely from assets held in a Variable Separate Account. Any such balance payable by the Reinsurer from the Reinsurer’s General Account shall be satisfied solely from assets held in the Reinsurer’s General Account.

Quarterly Payments. If a Quarterly Accounting reflects a balance due to the Company, the amount(s) shown as due shall be paid within ten (10) Business Days of the preparation of the Quarterly Accounting. If a Quarterly Accounting reflects a balance due to the Reinsurer, the amount(s) shown as due shall be paid within ten (10) Business Days after the date on which the Quarterly Accounting was prepared. Any such balance payable by the Reinsurer from the Reinsurer’s Risk Control Separate Accounts or the Declared Rate Separate Accounts shall be satisfied solely from assets of the Reinsurer’s Risk Control Separate Accounts or Declared Rate Separate Accounts Accounts. Any such balance payable on account of a Variable Separate Account shall be satisfied solely from assets held in a Variable Separate Account. Any such balance payable by the Reinsurer from the Reinsurer’s General Account shall be satisfied solely from assets held in the Reinsurer’s General Account.