Examples of Reinsurance Premium in a sentence

The Parties acknowledge and agree that the Reinsurance Premium paid by the Ceding Companies is gross of Federal Excise Tax, if any (i.e., no Federal Excise Tax shall be withheld from payments to the Reinsurer).

More Definitions of Reinsurance Premium

Reinsurance Premium. The Company will cede to the Reinsurers their proportionate share of the gross unearned premium as at June 30, 2002, for Section A policies. Additionally, the Company will cede to the Reinsurers their proportionate share of the gross net written premium on all Section B policies.

Reinsurance Premium. The Reinsurance Premium shall equal Two Hundred Sixty Four Million Five Hundred Thousand Dollars ($264,500,000) and shall be payable in full and without deduction by the Company on or before December 31, 1998. The date the Reinsurance Premium is paid shall be referred to as the "Premium Payment Date". The Reinsurance Premium shall be payable in cash by federal wire transfer in immediately available non-reversible United States Federal Funds to an account specified by the Reinsurer. The Reinsurance Premium shall be considered fully earned when received in the account specified by the Reinsurer. The Reinsurance Premium is a net amount and includes no allowance for commissions, brokerage, taxes or any other costs which may arise in connection with this Agreement or the Business Covered hereunder. Any such amounts shall remain the sole responsibility of the Company. If the Company fails to pay the Reinsurance Premium in full and in accordance with the terms of this Reinsurance Premium Section, this Agreement shall not come into effect and shall not in any way bind the Reinsurer.

Reinsurance Premium. The Reinsured shall pay the Reinsurer an amount equal to (a) 92.50% (“Premium Percentage”) of the Gross Written Premium on each Issued Contract (the “Reinsurance Premium”) less (b) the amount payable by the Reinsured to the Agent (as hereinafter defined) pursuant to Section 5.2 of the Agency Agreement. As used herein “Gross Written Premium” means gross premium written less cancellations and return premiums. For purposes of clarification and not limitation, the Premium Percentage is net of all commissions and is calculated as provided in Schedule 1 attached hereto. PROFIT COMMISSION: The Reinsurer shall pay the Reinsured, on the day that is one business day prior to the day the Profit Commission (as defined in the Agency Agreement) is payable by the Reinsured to the Agent pursuant to Section 5.1 of the Agency Agreement, an amount equal to such Profit Commission.

Reinsurance Premium means an amount equal to (a) $697,000,000, minus (b) the Rollforward Amount as of the Closing Date, as determined pursuant to Section 2.4.

Reinsurance Premium means the QUARTERLY REINSURANCE PREMIUM RATE times the MONTHLY INCOME BASE calculated as of MONTHLY VALUATION DATEs in March, June, September, and December of each calendar year. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE in March, June, September, and December of each calendar year. REMITTANCE DATE means the last BUSINESS DAY of the month following the REINSURANCE PREMIUM DUE DATE.

Reinsurance Premium means the premium set by the board pursuant to section 41-5506, Idaho Code, to be paid by a reinsuring carrier for eligi- ble individuals ceded to the pool.

Reinsurance Premium means the reinsurance premiums due from the Company to the Reinsurer, as described in Article V, for each life reinsured under this Agreement.