Common use of Quarterly Settlements Clause in Contracts

Quarterly Settlements. A. Within forty five (45) 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 Commission Chargeback determined in accordance with Article III, Xxxxxxxxx 0, xxxx (xxx) xxx Modified Coinsurance Reserve Adjustment payable to the Reinsurer, determined in accordance with Article V, Paragraph 1. B. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) Benefit Payments, as described in Article IV, plus (ii) the Commission and Expense Allowance determined in accordance with Article III, Xxxxxxxxx 0, xxxx (xxx) xxx Modified Coinsurance Reserve Adjustment payable to the Ceding Company, determined in accordance with Article V, Paragraph 1.