Initial Reinsurance Premium definition

Initial Reinsurance Premium shall have the meaning specified in Section 5.1.

Initial Reinsurance Premium has the meaning set forth in the Master Transaction Agreement.

Initial Reinsurance Premium means, with respect to each PICA FSS Reinsurance Agreement as of any date of determination, an amount equal to the sum of

Examples of Initial Reinsurance Premium in a sentence

• Contemporaneously with the Reinsurer’s receipt of the Initial Reinsurance Premium, the Reinsurer shall transfer to the Trustee for deposit into the Trust Account one hundred percent (100%) of the Initial Reinsurance Premium in accordance with the terms of the Security Trust Agreement.

• Grantor hereby certifies that the aggregate Market Value of the Permitted Assets included in the Initial Deposit is equal to at least one hundred percent (100%) of the Initial Reinsurance Premium.

• All direct expenses (excluding administrative overhead and incidentals referenced above) shall be billed at cost.

• MAC shall, contemporaneously with MAC’s receipt of the Initial Reinsurance Premium, transfer to the Trustee for deposit into the Trust Account the full amount of the Initial Reinsurance Premium in accordance with Article VII of the Coinsurance Agreement and the Security Trust Agreement.

• The Final Reinsurance Closing Calculation will also include the Ceding Company’s calculation of the difference, if any, between the Initial Reinsurance Premium paid to the Reinsurer and the Reinsurance Closing Date Settlement Liability shown on the Reinsurer’s Final Reinsurance Closing Calculation.

More Definitions of Initial Reinsurance Premium

Initial Reinsurance Premium means an amount equal to (i) the General Account Reserves as of the Effective Time, plus (ii) the interest maintenance reserve of the Ceding Company attributable to the General Account Reserves (calculated without regard to the exclusion of Net Retained Liabilities in the definition of “General Account Liabilities”) immediately prior to the consummation of the transactions contemplated by this Agreement (excluding for the avoidance of doubt, any interest maintenance reserve created as a result of the payment of the Initial Reinsurance Premium), minus (iii) the Policy Loan Balance as of the Effective Time, minus (iv) the amount of Reinsurance Receivables as of the Effective Time, minus (v) the amount of Uncollected/Deferred Premiums as of the Effective Time.

Initial Reinsurance Premium. The Initial Reinsurance Premium shall equal the Treaty Reserve applicable to each Individual Policy inforce on the Effective Date.

Initial Reinsurance Premium is defined as an amount equal to the Quota Share portion of the Cedant’s Statutory Reserve on the Effective Date with respect to the Policies.

Initial Reinsurance Premium has the meaning ascribed to it in Section 7.1(a).

Initial Reinsurance Premium shall have the meaning ascribed to it in the Coinsurance Agreement.

Initial Reinsurance Premium has the meaning given to it in the Consideration and Reconciliation Article.

Initial Reinsurance Premium. The Initial Reinsurance Premium shall equal the Treaty Reserve applicable to each Individual Policy on the date it is first covered by this Agreement. For all business issued by the Ceding Company after the Effective Date, the Initial Premium shall be zero.