UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY will be required to pay to REINSURER the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b., above.
Appears in 8 contracts
Samples: Automatic and Facultative Reinsurance Agreement (Ids Life of New York Account 8), Automatic and Facultative Reinsurance Agreement (Ids Life of New York Account 8), Automatic and Facultative Reinsurance Agreement (Ids Life Variable Life Separate Account)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b., above.
Appears in 4 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Ii)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph Section 9.b., above.
Appears in 3 contracts
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Mony America Variable Account L), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Carillon Life Account)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18Article 19, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph Article 9.b., above.
Appears in 3 contracts
Samples: Yearly Renewable Term Reinsurance Agreement (American National Variable Life Separate Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section Article 18, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph Article 9.b., above.
Appears in 3 contracts
Samples: Automatic and Facultative (Jnlny Separate Account Iv), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Jackson National Separate Account Iv), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18Article 17, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.bArticle 7.b., above.
Appears in 1 contract
Samples: Term Reinsurance Agreement (Farmers Variable Life Separate Account A)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY will be required to pay to REINSURER the difference between the full premium amount and the amount actually paid, without interest. If payment of the full fall premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b., above.
Appears in 1 contract
Samples: Ids Life of New York Account 8
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY will be required to pay to REINSURER the difference between the full premium amount and the amount actually paid, without interest. If payment of the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b.9 b., above.
Appears in 1 contract
Samples: Automatic and Facultative Reinsurance Agreement (Ids Life of New York Account 8)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER the Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of or the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b., above.
Appears in 1 contract
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Llac Variable Account)
UNDERPAYMENT OF REINSURANCE PREMIUM. If CEDING COMPANY the Ceding Company fails to make a full premium payment for a policy or policies reinsured hereunder, due to an error or omission as defined below in Section 18, the amount of reinsurance coverage provided by REINSURER Reinsurer shall not be reduced. However, once the underpayment is discovered, CEDING COMPANY the Ceding Company will be required to pay to REINSURER the Reinsurer the difference between the full premium amount and the amount actually paid, without interest. If payment of or the full premium is not made within 60 days after the discovery of the underpayment, the underpayment shall be treated as a failure to pay premiums and subject to the conditions of Paragraph 9.b., above.
Appears in 1 contract
