REINSURANCE REPORTING. A. Within thirty (30) days from the close of the calendar month, the Ceding Company will forward to Continental a statement or electronic medium reflecting the premiums due including any adjustments from the prior month. The Ceding Company will also remit a check for the balance due or will submit a request for payment of any net amount due from Continental. No interest is payable on amounts paid within thirty (30) days. B. If the amounts described in this Article cannot be determined by said due dates on an exact basis, such payments will be made with a generally agreed upon formula which will approximate the actual payments. Adjustments will then be made to reflect actual amounts when they become available.
Appears in 2 contracts
Samples: Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
REINSURANCE REPORTING. A. Within thirty (30) 30 days from the close of the calendar month, the Ceding Company will forward to Continental a statement or electronic medium reflecting the premiums due including any adjustments from the prior month. The Ceding Company will also remit a check for the balance due or will submit a request for payment of any net amount due from Continental. No interest is payable on amounts paid within thirty (30) days30 days from the date the statement is prepared.
B. If the amounts described in this Article cannot be determined by said due dates on an exact basis, such payments will be made with a generally agreed upon formula which will approximate the actual payments. Adjustments will then be made to reflect actual amounts when they become available.
Appears in 2 contracts
Samples: Reinsurance Agreement (Hartford Life & Annuity Insurance Co Separate Account Ten), Reinsurance Agreement (American National Variable Annuity Separate Account)
REINSURANCE REPORTING. A. Within thirty (30) 30 days from the close of the calendar month, the Ceding Company will forward to Continental a statement or electronic medium reflecting the premiums due including any adjustments from the prior month. The Ceding Company will also remit a check for the balance due or will submit a request for payment of any net amount due from Continental. , No interest is payable on amounts paid within thirty (30) days30 days from the date the statement is prepared.
B. If the amounts described in this Article cannot be determined by said due dates on an exact basis, such payments will be made with a generally agreed upon formula which will approximate the actual payments. Adjustments will then be made to reflect actual amounts when they become available.
Appears in 2 contracts
Samples: Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Hartford Life Insurance Co Separate Account Ten)
REINSURANCE REPORTING. A. Within thirty (30) 30 days from the close of the calendar month, the Ceding Company will forward to Continental a statement or electronic medium reflecting the premiums due including any adjustments from the prior month. The Ceding Company will also remit a check for the balance due or will submit a request for payment of any net amount due from Continental. No interest is payable on amounts paid within thirty (30) 30 days.
B. If the amounts described in this Article cannot be determined by said due dates on an exact basis, such payments will be made with a generally agreed upon formula which will approximate the actual payments. Adjustments will then be made to reflect actual amounts when they become available.
Appears in 2 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Iv), Guaranteed Minimum Death Benefit Reinsurance Agreement (Ge Capital Life Separate Account Ii)
REINSURANCE REPORTING. A. Within thirty (30) 30 days from the close of the calendar month, the Ceding Company will forward to Continental a statement or electronic medium reflecting the premiums due including any adjustments from the prior month. The Ceding Company will also remit a check for the balance due or will submit a request for payment of for any net amount due from Continental. No interest is payable on amounts paid within thirty (30) daysdays from the reporting date.
B. If the amounts described in this Article cannot be determined by said due dates on an exact basis, such payments will be made with a generally agreed upon formula which will approximate the actual payments. Adjustments will then be made to reflect actual amounts when they become available.
Appears in 1 contract
