Common use of Quarterly Settlements Clause in Contracts

Quarterly Settlements. a) Within sixty (60) days after the end of each Accounting Period, the Ceding Company will pay the Reinsurer the sum of: i) Reinsurance Premiums, determined in accordance with Article II, plus ii) the Fee Payments, determined in accordance with Article IV, plus iii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer, determined in accordance with Article VI, Paragraph 1), plus iv) any adjustments to the Reinsurer for Transfers Involving the Fixed Account determined in accordance with Article VII Paragraph 1). b) Simultaneously, the Reinsurer will pay the Ceding Company the sum of: i) the amount of Benefit Payments, as described in Article V, plus ii) the Allowance for Commissions and Expenses, determined in accordance with Article III, plus iii) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company, determined in accordance with Article VI, Paragraph 1), plus iv) any adjustments to the Ceding Company for Transfers Involving the Fixed Account, determined in accordance with Article VII Paragraph 2). c) Simultaneously, the Ceding Company will transfer the increase in the CARVM Allowance of the Reinsured Policies to the Reinsurer. The Reinsurer will transfer an equal amount of mutually acceptable assets to the Ceding Company.

Quarterly Settlements. a) A. Within sixty twenty-five (6025) days after the end of each Accounting Period, the Ceding Company will pay the Reinsurer the sum of: : (i) Reinsurance Premiums, determined in accordance with Article II, plus plus (ii) the Fee Payments, determined in accordance with Article IV, plus iii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer, etermined in accordance with Article V, Paragraph 2, plus (iii) any Adjustment for Transfers Involving the Fixed Account payable to the Reinsurer, determined in accordance with Article VI, Paragraph 1), plus plus (iv) any adjustments Adjustments for Annuity Benefits payable to the Reinsurer for Transfers Involving the Fixed Account Reinsurer, determined in accordance with Article VII Paragraph 1)IV, paragraph 6. b) B. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: : (i) the amount of Benefit Payments, as described in Article VIV, plus plus (ii) the Allowance for Commissions and Expenses, determined in accordance with Article III, plus plus (iii) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company, determined in accordance with Article VIV, Paragraph 1)2, plus plus (iv) any adjustments to the Ceding Company Adjustment for Transfers Involving the Fixed AccountAccount payable to the Ceding Company, determined in accordance with Article VII Paragraph 2)VI. c) Simultaneously, the Ceding Company will transfer the increase in the CARVM Allowance of the Reinsured Policies to the Reinsurer. The Reinsurer will transfer an equal amount of mutually acceptable assets to the Ceding Company.

Quarterly Settlements. a) A. Within sixty fifteen (6015) days after the end of each Accounting Period, the Ceding Company will pay the Reinsurer the sum of: (i) the Reinsurance PremiumsPremiums paid by the Ceding Company to the Reinsurer during the current Accounting Period, determined in accordance with Article II, plus ii) the Fee Payments, determined in accordance with Article IVParagraph 2, plus iii(ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer, determined in accordance with Article VIV, Paragraph 1)2, plus iv(iii) any adjustments Funds Withheld payable to the Reinsurer for Transfers Involving during the Fixed Account current Accounting Period in accordance with the terms of the Accounts Receivable Agreement, determined in accordance with Article VII II, Paragraph 13, item (ii). b) B. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) the amount of Benefit Payments, as described in Article VIV, plus (ii) the Allowance Allowances for Commissions and Expenses, determined in accordance with Article III, Paragraph 7, plus (iii) Allowances for Death Benefit Guarantee, determined in accordance with Article III, Paragraph 8, plus (iv) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company, determined in accordance with Article VIV, Paragraph 1)2, plus iv(v) any adjustments to the Ceding Company for Transfers Involving the Fixed AccountExperience Refund, determined in accordance with Article VII Paragraph 2)IX. c) Simultaneously, the Ceding Company will transfer the increase in the CARVM Allowance of the Reinsured Policies to the Reinsurer. The Reinsurer will transfer an equal amount of mutually acceptable assets to the Ceding Company.

Quarterly Settlements. a) A. Within sixty fifteen (6015) days after the end of each Accounting Period, the Ceding Company will pay the Reinsurer the sum of: (i) the Reinsurance PremiumsPremiums paid by the Ceding Company to the Reinsurer during the current Accounting Period, determined in accordance with Article II, plus ii) the Fee Payments, determined in accordance with Article IVParagraph 2, plus iii(ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer, determined in accordance with Article VIV, Paragraph 1)2, plus iv(iii) any adjustments Funds Withheld payable to the Reinsurer for Transfers Involving during the Fixed Account current Accounting Period in accordance with the terms of the Accounts Receivable Agreement, determined in accordance with Article VII II, Paragraph 13, item (ii). b) B. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) the amount of Benefit Payments, as described in Article VIV, plus (ii) the Allowance Allowances for Commissions and Expenses, determined in accordance with Article III, Paragraph 7, plus (iii) Allowances for Death Benefit Guarantee, determined in accordance with Article III, Paragraph 8, plus (iv) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company, determined in accordance with Article VIV, Paragraph 1)2, plus iv(v) any adjustments to the Ceding Company for Transfers Involving the Fixed AccountExperience Refund, determined in accordance with Article VII Paragraph 2)IX. c) SimultaneouslyVI. SCHEDULE A, ANNUITIES AND RISKS REINSURED, is replaced in its entirety by the following: Annuities and Risks Reinsured. The amount of reinsurance under this Agreement will be a quota share of the Ceding Company's net liability on those variable annuities issued by the Ceding Company will transfer the increase in the CARVM Allowance of the Reinsured Policies to the Reinsurer. The Reinsurer will transfer an equal amount of mutually acceptable assets to the Ceding Company.and described below: