Ceding Commission. The Reinsurer shall allow the Company a ceding commission of (or a proportionate share of such amount in the event of a Quota Share Reduction) per annum, to be taken as a deduction from the first monthly premium payment to the Reinsurer at the commencement of this Contract and at each annual anniversary thereof, to cover the Company's operational costs directly allocable to writing the business subject hereto.
Appears in 95 contracts
Sources: Quota Share Reinsurance Contract, Quota Share Reinsurance Contract, Quota Share Reinsurance Contract
Ceding Commission. The Reinsurer shall allow the Company a ceding commission of $40,000 (or a proportionate share of such amount in the event of a Quota Share Reduction) per annum, to be taken as a deduction from the first monthly premium payment to the Reinsurer at the commencement of this Contract and at each annual anniversary thereof, to cover the Company's operational costs directly allocable to writing the business subject hereto.
Appears in 2 contracts
Sources: Quota Share Reinsurance Contract, Quota Share Reinsurance Contract
Ceding Commission. The Reinsurer shall allow the Company a ceding commission of (or a proportionate share of such amount in the event of a Quota Share Reduction) per annum, to be taken as a deduction from the first monthly premium payment to the Reinsurer at the commencement of this Contract and at each annual anniversary thereof, to cover the Company's operational costs directly allocable to writing the business subject hereto.
Appears in 1 contract
Sources: Quota Share Reinsurance Agreement