Initial Ceding Commission definition

Initial Ceding Commission shall have the meaning specified in Section 4.1.

Initial Ceding Commission means $45,000,000.

Initial Ceding Commission means an amount equal to $950,000, payable from the Reinsurer to the Ceding Company pursuant to Section 5.01.

Examples of Initial Ceding Commission in a sentence

• In the event the Final Section A Premium for any individual Class of Business is greater than the Initial Section A Premium for such individual Class of Business or the Final Ceding Commission Reserves are less than the Initial Ceding Commission Reserves, Retrocedant shall promptly pay to the account of Retrocessionaire the difference plus interest on such amount at the Applicable Rate from and including the Effective Date to and including the date of such payment.

• Notwithstanding the foregoing, Retrocedant shall retain all liabilities for ceding commission and brokerage fees up to the carrying value of the related reserves on the books of the Retrocedant as of Sepember 30, 2002 (the "Initial Ceding Commission Reserves"), and as finally determined pursuant to the provisions of Article IV herein.

• In the event the Final Section A Premium for any individual Class of Business is less than the Initial Section A Premium for such individual Class of Business or the Final Ceding Commission Reserves are greater than the Initial Ceding Commission Reserves, Retrocessionaire shall promptly pay to the account of Retrocedant the difference plus interest on such amount at the Applicable Rate (as defined below) from and including the Effective Date to and including the date of such payment.

• The Recapture Fee shall be equal to an amount to be determined by an actuarial appraisal prepared by a nationally recognized independent actuarial firm in accordance with methodologies agreed upon by the Ceding Company and Reinsurer to determine the value of the Reinsured Policies at such time in a manner consistent with the valuation of the Reinsured Policies as set forth in the Milliman Report and consistent with the determination of the Initial Ceding Commission based on such valuation.

• Notwithstanding the foregoing, Retrocedant shall retain all liabilities for ceding commission and brokerage fees up to the carrying value of the related reserves on the books of the Retrocedant as of September 30, 2002 (the "Initial Ceding Commission Reserves"), and as finally determined pursuant to the provisions of Article IV herein.

More Definitions of Initial Ceding Commission

Initial Ceding Commission means the sum of C$74,000,000 as determined in accordance with the actuarial report originally dated October 21, 2009 and revised as of November 25, 2009.

Initial Ceding Commission shall have the meaning set forth in Section 3.1(d)

Initial Ceding Commission means the sum of C$[ ] as determined in accordance with the [actuarial report dated [ ]].

Initial Ceding Commission shall have the meaning specified in the Original Agreement.

Initial Ceding Commission means $10,000,000.

Initial Ceding Commission has the meaning specified in Section 2.2(b). “Initial Leases” has the meaning specified on Schedule 1.1(x).

Initial Ceding Commission means the Ceding Commission determined based upon underwriting expenses incurred relative to the net unearned premiums as of the Effective Date.