Ceding Fee definition

Ceding Fee has the meaning set forth in Section 4.2.
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Ceding Fee. Six and one-half Percent (6.50%) for New Risks and Nine and Three Quarters Percent (9.75%) for In Force Risks
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Ceding Fee means an amount by which the asset transfer will be adjusted at Closing pursuant to Exhibit 7.1.2, calculated as follows.
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Examples of Ceding Fee in a sentence

  • Buyer acknowledges that Gulf National Life Insurance Company consummated an assumption reinsurance transaction with CMIC, effective January 1, 2001, pursuant to which transaction Gulf National Life Insurance Company paid to CMIC a ceding fee of $143,500 (the "CMIC Ceding Fee").

  • The Company shall transfer to Reinsurer an amount of assets equal to the Reserves as of December 31, 1997, as defined in Section 10.5, less the "Ceding Fee" (defined below), as determined in Section 4.3 (the "Net Transfer Amount").

  • The Ceding Fee shall be in addition to any other fees as stated in the Schedule Page.

  • At the time of Closing, the Company transferred to Reinsurer an amount of assets equal to the Reserves and other policy liabilities attributable to the Policies determined from the policy data maintained by the Company as of December 31, 1995, less a "Ceding Fee," pursuant to the Assumption Agreement subject to a recalculation of the assets, liabilities and the Ceding Fee based on the policy data maintained by the Company as of May 31, 1996, as contemplated by the Assumption Agreement.

  • In the manner described in Section 4.1, the Ceding Fee was determined by an Actuarial Valuation using policy data maintained by the Company as of December 31, 1995, and was subsequently updated in a May 31 Actuarial Appraisal using policy data maintained by the Company as of May 31, 1996, and changes agreed upon by the parties, as contemplated by the Assumption Agreement.

  • The sum of Losses Incurred, Commission Expense, Ceding Fee and Excise Taxes divided by the Earned Premium.

  • Ceding Fee = -($500,000 +$64,516 x Adjustment Factor) Where the “Adjustment Factor” is a number, which may not be less than zero, calculated as follows.

  • The excess of Losses Incurred, Commission Expense, Ceding Fee, and Excise Taxes over Earned Premium.

  • The Company shall transfer to the Reinsurer an amount of assets equal to the Reserves as of October 31, 1998, as defined in Section 10.5, less the "Ceding Fee" set forth in Section 4.2 ("Closing Net Transfer Amount").

  • The "Ceding Fee" shall be the amount set forth as the Ceding Fee in Schedule 4.1, which Ceding Fee is subject to the return of the amount of $250,000 to Reinsurer if the Company does not transfer the data processing equipment and hardware by the Company to Reinsurer as set forth in Section 12.4. The assets comprising the Closing Net Transfer Amount to be delivered by the Company to Reinsurer are set forth in Schedule 4.1.

Related to Ceding Fee

  • Funding Fee has the meaning set forth in Section 2.04(b).

  • Closing Fee has the meaning set forth in Section 2.09(c).

  • Management Fee shall have the meaning set forth in Section 10(a).

  • Base Servicing Fee means the fee payable to the Servicer on each Distribution Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Rate multiplied by the Pool Balance as of the close of business on the last day of the immediately preceding Collection Period or, with respect to the first Distribution Date, the Original Pool Balance.

  • Facing Fee shall have the meaning provided in Section 3.01(c).

  • Late Payment Fee means the excess of the Price Differential paid as a result of its calculation at the Post-Default Rate over the Price Differential as would have been calculated at the Pricing Rate.

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

  • Target fee, as used in this contract, means the fee initially negotiated on the assumption that this contract would be performed for a cost equal to the estimated cost initially negotiated, adjusted in accordance with paragraph (d) of this clause.

  • Closing Fees means those fees required to be paid on the Closing Date pursuant to the Fee Letter.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Monthly Fee means the total consideration, including but not limited to, equipment or locker rental,

  • Prepayment Fee is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to:

  • Basic Rent Payment Date means Basic Rent Payment Date as defined in Paragraph 6.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.

  • Early Termination Fee has the meaning set forth in Section 7.2.

  • Expense Fee As to each Mortgage Loan and any Distribution Date, the product of the Expense Fee Rate and its Stated Principal Balance as of that Distribution Date.

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Exit Fee shall have the meaning specified in the Fee Letter.

  • Ticking Fee has the meaning specified in Section 2.09(a).

  • Program Fee is defined in the Fee Letter.

  • Termination Fee has the meaning set forth in Section 7.02(a).

  • Booking Fee is the fee an Agency charges for scheduling Sign Language Interpreters.

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • Liquidation Fee With respect to each Specially Serviced Loan as to which the Special Servicer receives a full or discounted pay-off (or unscheduled partial payment to the extent such prepayment is required by the Special Servicer as a condition to a workout or results from the Special Servicer’s collection and enforcement efforts) from the related Mortgagor, except as otherwise described below, with respect to any Mortgage Loan (or Serviced Whole Loan) repurchased or substituted as contemplated by Section 2.03 of this Agreement and/or any Specially Serviced Loan or any REO Property as to which the Special Servicer receives Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds, an amount calculated by the application of the applicable Liquidation Fee Rate to the related payment or proceeds (exclusive of any portion of such pay-off or proceeds that represents Penalty Charges); provided that, except as contemplated by the following provisos, no Liquidation Fee will be less than $25,000; provided, further, that the Liquidation Fee (which, if payable, shall, prior to the reduction in accordance with this proviso, be at least $25,000) with respect to any related Specially Serviced Loan or REO Property shall be reduced by the amount of any Excess Modification Fees paid by or on behalf of the related Mortgagor with respect to the Specially Serviced Loan or REO Property as described in the definition of “Excess Modification Fees” in this Agreement, but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee; provided, further, that (a) the Liquidation Fee shall be zero with respect to any Mortgage Loan or Serviced Whole Loan or any Mortgaged Property purchased or repurchased pursuant to clauses (iii) through (v) of the first sentence of the definition of Liquidation Event (unless with respect to (A) clause (iii), the applicable Mortgage Loan Seller does not repurchase or substitute for such Mortgage Loan until after more than 180 days following its receipt of notice or discovery of a Material Breach or Material Document Defect, and (B) clause (v), the mezzanine loan holder or the Subordinate Companion Loan Holder does not purchase such Mortgage Loan or Serviced Whole Loan within 90 days of when the first purchase option first becomes exercisable under the related intercreditor agreement or Co-Lender Agreement, as applicable) or pursuant to clauses (ii) or (iv) of the second sentence of such definition (unless with respect to clause (iv), the mezzanine loan holder does not purchase such REO Property within 90 days of when the first purchase option first becomes exercisable) and (b) the Liquidation Fee with respect to each Mortgage Loan or REO Mortgage Loan repurchased or substituted for after more than 180 days following the Mortgage Loan Seller’s receipt of notice or discovery of a Material Breach or Material Document Defect shall be in an amount equal to the Liquidation Fee Rate of the outstanding principal balance of such Mortgage Loan or REO Mortgage Loan; provided, further, that if a Mortgage Loan or Serviced Whole Loan becomes a Specially Serviced Loan only because of an event described in clause (a)(ii) of the definition of “Specially Serviced Loan” regarding the related Mortgagor’s failure to make a Balloon Payment and the related Liquidation Proceeds are received within 90 days following the related maturity date in connection with the full and final pay-off of the related Mortgage Loan or Serviced Whole Loan, the Special Servicer will not be entitled to collect a Liquidation Fee, but may collect and retain appropriate fees from the related Mortgagor in connection with such liquidation.

  • Undrawn Fee a fee payable pursuant to Section 3.2 for each day of the related Collection Period equal to the product of (x) the aggregate Commitments on such day minus the aggregate principal amount of outstanding Advances on such day times (y) the Undrawn Fee Rate times (z) 1/360.