Experience Refund Clause Samples
POPULAR SAMPLE Copied 5 times
Experience Refund. Swiss Re America shall pay the Company an experience refund equal to 50% of the Adjusted Profit, as defined in Exhibit C, for all products covered under this Agreement as set forth in Exhibit A.
Experience Refund. Details of any Experience Refund payable to us will be shown in Exhibit C, Section XI (Experience Refund).
Experience Refund. If the Experience Refund is positive, this amount shall be paid to the Company by the Reinsurer. If the Experience Refund is negative, the absolute value of this amount shall be paid to the Reinsurer by the Company. Beginning with the second accounting period that the Coinsurance Reserve is equal to zero, if the Experience Refund is positive, then the Experience Refund will be reduced by 10%. The Experience Refund is calculated as follows: Premiums, in accordance with Schedule C, PLUS: Experience Refund Investment Income in accordance with Schedule E, MINUS: Benefits paid during the accounting period in accordance with Article VI, MINUS: Expense Allowance, in accordance with Schedule D, MINUS: Change in the Statutory Reserve in accordance with Schedule F, PLUS: Change in the Coinsurance Reserve in accordance with Schedule F, MINUS: Expense and Risk charge in accordance with Article VII, MINUS: Loss Carry Forward at the beginning of the current accounting period accumulated at the Modco Investment Income Interest Rate (as calculated in Schedule E) EQUALS: Experience Refund
Experience Refund. At the end of each accounting period, the Company shall be obligated to the Corporation for an experience refund equal to the percentage hereinafter indicated of the amount, if any, by which the sum of the Company's quota share of the following Credits for the period exceeds the sum of the Company's quota share of the following Charges for the period.
Experience Refund. 1. Except as provided in paragraph 3, below, North American Re shall pay the Company an experience refund equal to 40% of the adjusted profit, as defined in Exhibit C.
2. The refund shall be calculated monthly by North American Re and settled on a quarterly basis.
3. The experience refund provision shall terminate after this Reinsurance Agreement has been in effect for twenty (20) years.
Experience Refund. The business reinsured under this contract shall not be eligible for an experience refund.
Experience Refund. Details of any Experience Refund payable to the Ceding Company will be shown in Exhibit C. Section XI. (Experience Refund).
Experience Refund. 1. Swiss Re Life & Health shall pay the Company an experience refund equal to 40% of the Adjusted Profit, as defined in Exhibit C, for all variable annuity contracts covered under this Agreement as set forth in Exhibit A. The experience refund calculation shall be pooled with and calculated together with all the variable annuity contracts covered under the Automatic Reinsurance Agreement dated July 1, 1994, between Transamerica Occidental Life Insurance Company and Swiss Re Life & Health. This referenced Agreement provides reinsurance coverage of the Guaranteed Minimum Death Benefit provisions within the Dreyfus Triple Advantage Variable Annuity contracts issued outside of the State of New York.
2. This experience refund shall be calculated monthly and settled quarterly in accordance with Article VII.
3. The experience refund provision shall terminate after this Reinsurance Agreement has been in effect for twenty (20) years.
Experience Refund. 1. Swiss Re Life & Health shall pay the Company an experience refund equal to 25% of the Adjusted Profit, as defined in Exhibit C, for all variable annuity contracts covered under this Agreement as set forth in Exhibit A.
2. The refund shall be calculated monthly by Swiss Re Life & Health and settled annually on a calendar year basis, beginning in 1999.
Experience Refund. Reinsurance under this Agreement is not eligible for an Experience Refund.