REINSURANCE PREMIUM AND COMMISSION. As a condition precedent to the Reinsurer's obligations hereunder, the Company shall pay to the Reinsurer:
REINSURANCE PREMIUM AND COMMISSION. A. Within 30 days following the end of each month, the Company shall pay to the Reinsurer a Ceded Premium calculated as follows:
REINSURANCE PREMIUM AND COMMISSION. The Company shall pay to the Reinsurers:
REINSURANCE PREMIUM AND COMMISSION. A. The Company shall pay to the Reinsurer: 100% of the written premium charged and collected by the Company in connection with the Policies referenced in Article I(A)(ii), net of any other outside reinsurance purchased on this subject premium, plus 100% of the unearned premium charged and collected by the Company in connection with the Policies referenced in Article I(A)(i), net of any other outside reinsurance purchased on this subject premium. The reinsurance premiums set forth above shall be subject to a commission allowance payable to the Company in an amount equal to the compensation paid by the Company to Darwin Professional Underwriters, Inc. in relation to such business. The Reinsurer shall also compensate the Company for additional expenses incurred by the Company in an amount equal to one percent (1%) of the premium ceded in connection with the Policies described in Article I(A), provided that such additional compensation shall not exceed twenty five thousand dollars ($25,000) in any single calendar year.
REINSURANCE PREMIUM AND COMMISSION. The Company will cede to the Reinsurer its fifteen percent (15%) share of the Gross Net Written Premium on all Policies subject to this Agreement. The Company may deduct from the premium ceded to the Reinsurer the Reinsurer's share of the cost of common account reinsurance protection which inures to the benefit of this Agreement. The Reinsurer shall allow the Company a ceding commission equal to the Company's actual acquisition expenses. The Company shall allow the Reinsurer return commission on return premiums at the same rate. The Gross Net Written Premium as used in this Agreement means the total premium charged to the original Insureds under the Policies plus additional premium or return premium, less return premium for cancellation.
REINSURANCE PREMIUM AND COMMISSION. The reinsurance premium and commission provisions set forth above do not apply to the healthcare systems professional liability business reinsured hereunder. As respects such business, the Company shall pay to the Reinsurers an appropriate percentage of the Company's earned premium for the First Excess Cover and for the Second Excess Cover, as separately agreed to by the Company and the Reinsurers and as kept on file with the Reinsurers. Such First Excess Cover reinsurance premium as respects healthcare system medical professional and general liability is provisional and shall be adjusted in accordance with the provisions of the article entitled ADJUSTMENT OF REINSURANCE PREMIUM. Such Second Excess Cover reinsurance premium shall be subject to a fixed commission allowance of 20%."
REINSURANCE PREMIUM AND COMMISSION. The premium for the reinsurance provided hereunder shall be remitted by the Contract Operator and divided among the Retrocessionaires in the same proportion as their quota share participation percentage of the Company's liability less the following allowances due the company:
REINSURANCE PREMIUM AND COMMISSION. The Company shall pay to the Reinsurer a reinsurance premium equal to the proportion of Company's written premium for the business reinsured hereunder for each bond that the cession to the Reinsurer bears to greater of contract price or bond penalty on the same bond. The reinsurance premium set forth above shall be subject to a fixed commission allowance of 40%.
REINSURANCE PREMIUM AND COMMISSION. 4 ARTICLE VIII
REINSURANCE PREMIUM AND COMMISSION. A. The Company shall pay to the Reinsurer: 100% of the written premium charged and collected by the Company in connection with the Policies referenced in Article I(A), net of any other outside reinsurance purchased on this subject premium. The reinsurance premiums set forth above shall be subject to a commission allowance payable to the Company in an amount equal to the compensation paid by the Company to Darwin Professional Underwriters, Inc. in relation to such business. The Reinsurer shall also compensate the Company for additional expenses incurred by the Company in an amount equal to one percent (1%) of the premium ceded in connection with the Policies described in Article I(A), provided that such additional compensation shall not exceed twenty five thousand dollars ($25,000) in any single calendar year.
