Common use of Initial Ceding Commission Clause in Contracts

Initial Ceding Commission. Insurers, on the Original Effective Time, received a one time ceding commission in the amount of $9,278,800, plus six percent (6%) per annum simple interest upon said amount for the period between January 1, 2001 and the date of receipt by Insurers.

Initial Ceding Commission. Insurers, on the Original Effective Time, received a one time ceding commission in the amount of $9,278,80042,528,200, plus six percent (6%) per annum simple interest upon said amount for the period between January 1, 2001 and the date of receipt by Insurers.