Terminal Settlement. (a) In connection with a termination of this Agreement or recapture of the Covered Insurance Policies pursuant to Section 9.4, a Terminal Settlement will take place. In connection therewith, the Ceding Company shall deliver to the Reinsurer, within forty-five (45) calendar days following the Recapture Effective Date, a statement (the “Terminal Settlement Statement”) setting forth the Ceding Company’s computation of the Terminal Settlement, including a good faith calculation of the Embedded Value Payment. The “Terminal Settlement” shall consist of (i) the Quarterly Net Settlement Amount for the Terminal Accounting Period, and (ii) the Embedded Value Payment with respect to the then in-force Covered Insurance Policies as of the Recapture Effective Date. “
Appears in 5 contracts
Samples: Combination Coinsurance and Modified Coinsurance Agreement (SAFG Retirement Services, Inc.), Combination Coinsurance and Modified Coinsurance Agreement (SAFG Retirement Services, Inc.), Combination Coinsurance and Modified Coinsurance Agreement (SAFG Retirement Services, Inc.)
Terminal Settlement. (a) In connection with a termination of this Agreement or recapture of the Covered Insurance Policies pursuant to Section 9.48.4, a Terminal Settlement will take place. In connection therewith, the Ceding Company shall deliver to the Reinsurer, within forty-five (45) calendar days following the Recapture Effective Date, a statement (the “Terminal Settlement Statement”) setting forth the Ceding Company’s computation of the Terminal Settlement, including a good faith calculation of the Embedded Value Payment. The “Terminal Settlement” shall consist of (i) the Quarterly Net Settlement Amount for the Terminal Accounting Period, and (ii) the Embedded Value Payment with respect to the then in-force Covered Insurance Policies as of the Recapture Effective Date. “
Appears in 2 contracts
Samples: Modified Coinsurance Agreement (SAFG Retirement Services, Inc.), Modified Coinsurance Agreement (SAFG Retirement Services, Inc.)
