RESERVES AND TAXES. The Reinsurer shall maintain the required reserves as to the Reinsurer’s portion of unearned premium, if any, claims, losses, and Adjustment Expense. The Company shall be liable for all premium taxes on premium ceded to the Reinsurer under this Agreement. If the Reinsurer is obligated to pay any premium taxes on this premium, the Company shall reimburse the Reinsurer; however, the Company shall not be required to pay taxes twice on the same premium.
RESERVES AND TAXES. A. The Reinsurer shall maintain legal reserves with respect to claims hereunder.
B. The Reinsurer shall reimburse the Company for any taxes which the Company may be obligated to pay in connection with the Policies reinsured pursuant to this Agreement.
RESERVES AND TAXES. A. The REINSURER shall maintain the required reserves as to the REINSURER’s portion of unearned premium, losses, and allocated loss adjustment expense.
B. The COMPANY shall be liable for all premium taxes on premium ceded to the REINSURER under this AGREEMENT. If the REINSURER is obligated to pay any premium taxes on this premium, the COMPANY shall reimburse the REINSURER; however, the COMPANY shall not be required to pay taxes twice on the same premium.
RESERVES AND TAXES. A. The Reinsurer shall maintain such reserves as may be required with respect to the Reinsurer’s proportion of unearned premium, outstanding losses, and loss adjustment expense. The Reserves for Outstanding Losses and Loss Adjustment Expense Reserves shall have included a separate item for Incurred But Not Reported amounts for each caption.
B. The Company shall be liable for all taxes on premiums ceded to the Reinsurer under this Agreement.
RESERVES AND TAXES. 8 ARTICLE XV - INSOLVENCY. . . . . . . . . . . . . . . . . . . . 8
RESERVES AND TAXES. A. The Reinsurer shall maintain legal reserves with respect to claims hereunder. The Company shall furnish to the Reinsurer semiannually a list of outstanding claims in which the Reinsurer is interested, showing the amount of loss reserves set up by the Company with respect to both the gross amount and the Reinsurer’s share of each and every such claim.
B. The Company will be liable for all taxes on premiums reported to the Reinsurer hereunder and will reimburse the Reinsurer for such taxes where the Reinsurer is required to pay the same.
RESERVES AND TAXES. A. The Retrocessionaire shall maintain legal reserves with respect to unearned premiums and claims hereunder.
B. The Retrocedant will be liable for all taxes on premiums reported to the Retrocessionaire hereunder and will reimburse the Retrocessionaire for such premium taxes where the Retrocessionaire is required to pay the same directly to the taxing authority.
RESERVES AND TAXES. The Reinsurer shall maintain the required reserves as to the Reinsurers portion of unearned premium, claims, losses, and adjustment expense.
RESERVES AND TAXES. The Reinsurer will maintain legal reserves with respect to claims hereunder. The Company will furnish to the Reinsurer at least quarterly a summary of all claims, claim expenses, premiums and other pertinent reserves in which the Reinsurer is interested, showing the amount of such reserves set up by the Company in respect of both the gross amount and the Reinsurer’s share of each and every such reserves. In consideration of the terms under which this Agreement is issued, the Company undertakes not to claim any deduction in respect of the premium hereon when making tax returns, other than income or profits tax returns, to any state or territory of the United States of America or to the District of Columbia.
RESERVES AND TAXES the following paragraph will be added: Company shall pay premium taxes on premiums received prior to the Effective Date of this Addendum. ARTICLE XIII - OFFSET shall be deleted in its entirety.
