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

• 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 the Ceding Company assumes from Lincoln Life & Annuity of New York, the Initial Reinsurance Premium shall equal the Treaty Reserves less an adjustment reflecting the anticipated future profitability on the business assumed by the Ceding Company effective January 1, 2010.

• As consideration for the reinsurance provided hereunder by the Reinsurer, the Ceding Company shall pay to the Reinsurer, on the Closing Date, the Initial Reinsurance Premium with respect to the Ceding Company as set forth in the Estimated Reinsurance Settlement Statement in accordance with the Accounting Principles.

• Such payment shall be offset against the Initial Reinsurance Premium payable by the Ceding Company to the Reinsurer, and the Reinsurer shall deposit, on the Closing Date, the resulting amount of the Ceding Commission (if any) into the Trust Account.

• Such payment shall be offset against the Ceding Commission payable by the Reinsurer to the Ceding Company, and the obligation to pay the Initial Reinsurance Premium shall be satisfied by the Ceding Company transferring, on the Closing Date, to the Trust Account on behalf of the Reinsurer, Authorized Investments with a Fair Market Value equal to the Net Initial Reinsurance Settlement Amount pursuant to and in accordance with Section 2.3(b)(i) of the Master Transaction Agreement.

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

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 means (a) the General Account Reserves held by the Company on the Business Covered determined in accordance with SAP applicable to the Company, as of the Effective Time, plus (b) the existing Interest Maintenance Reserve attributable to the Business Covered, determined in accordance with SAP applicable to the Company consistently applied, as of immediately prior to the Effective Time and any Interest Maintenance Reserve generated as a result of the transactions as of the Closing Date, minus (c) the Policy Loan Balance as of the Effective Time, minus (d) the Ceding Commission.

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.

Initial Reinsurance Premium means, with respect to each Cedant, the amount set forth on the line item “Net Settlement Amount” reflected on the Statement of General Account Net Settlement, the Pro Forma Statement of General Account Net Settlement, the Estimated Statement of General Account Net Settlement or the Closing Statement of General Account Net Settlement, as applicable to such Cedant.