Initial Premium; True-Up Sample Clauses

Initial Premium; True-Up. (a) Prior to the Closing Date, the Ceding Company prepared and delivered to the Reinsurer the statement attached hereto as Schedule XVII setting forth the estimated amount of the Initial Premium (the “Estimated Initial Premium”) as determined by the Ceding Company in good faith and in accordance with Ceding Company SAP and the estimated Over-Collateralization Amount based thereon (the “Estimated Over-Collateralization Amount”), in each case as of the Effective Time. On the Closing Date, (x) the Ceding Company shall deposit, on behalf of the Reinsurer, to the Funds Withheld Account cash equal to the Estimated Initial Premium, and (y) the Reinsurer shall transfer cash equal to the Estimated Over-Collateralization 46753330.38 Amount to the Ceding Company for deposit to the Funds Withheld Account. For this purpose, the “Initial Premium” shall equal (i) the amount of the Ceded Reserves for the In-Force Block as of the Effective Time, minus (ii) the Contract Loan Balance for the In-Force Block at the Effective Time, minus (iii) the Amortized Cost of Index Options in respect of the Reinsured Liabilities of the In-Force Block at the Effective Time. (b) Within forty-five (45) Business Days following the Closing Date, the Ceding Company shall deliver to the Reinsurer a statement (the “Initial Reconciliation Statement”) prepared in good faith by the Ceding Company, in the same format as the statement of the Estimated Initial Premium and Estimated Over-Collateralization Amount, and in accordance with Ceding Company SAP setting forth the actual amount of the Initial Premium and the actual amount of the Over-Collateralization Amount. (c) During the thirty (30) Business Days immediately following the Reinsurer’s receipt of the Initial Reconciliation Statement (the “Review Period”), the Reinsurer and its Representatives shall be permitted to review the Ceding Company’s working papers and, subject to the execution of any required non-disclosure or comparable agreements, any working papers of the Ceding Company’s independent accountants directly relating to the preparation of the Initial Reconciliation Statement, as well as all of the books and records of the Ceding Company and other relevant information to the extent relating to the Reinsured Policies with respect to the period up to and including the date hereof, and the Ceding Company shall make reasonably available the individuals in its or its Affiliates’ employ who are responsible for and knowledgeable about the infor...
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Initial Premium; True-Up. (a) The initial premium payable by the Ceding Company to the Reinsurer shall be an amount equal to (i) the Modco Reserves as of the Effective Date, plus (ii) the Existing IMR (the “Initial Premium”); (b) The payment of the Initial Premium shall be satisfied on the Effective Date by the allocation by the Ceding Company of Permitted Assets to the Modco Account, including the Existing ▇▇▇▇▇▇, with an aggregate Statutory Carrying Value as of the Effective Date equal to the following (the “Company Required SA Business Initial Premium”):
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Related to Initial Premium; True-Up

  • Date Increment Due Increments shall accrue and become due and payable on the next day following completion of required service as an employee in the class, unless otherwise provided herein.

  • PRICE ESCALATION/DE-ESCALATION (CPI) The County may allow a price escalation provision within this award. The original contract prices shall be firm for an initial one (1) year period. A price escalation/de-escalation will be considered at one (1) year intervals thereafter, provided the Contractor notifies the County, in writing, of the pending price escalation/de-escalation a minimum of sixty (60) days prior to the effective date. Price adjustments shall be based on the latest version of the Consumers Price Index (CPI-U) for All Urban Consumers, All Items, U.S. City Average, non-seasonal, as published by the U.S. Department of Labor, Bureau of Labor Statistics. This information is available at ▇▇▇.▇▇▇.▇▇▇. Price adjustment shall be calculated by applying the simple percentage model to the CPI data. This method is defined as subtracting the base period index value (at the time of initial award) from the index value at time of calculation (latest version of the CPI published as of the date of request for price adjustment), divided by the base period index value to identify percentage of change, then multiplying the percentage of change by 100 to identify the percentage change. Formula is as follows: Current Index – Base Index / Base Index = % of Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% % of Change x 100 = Percentage Change CPI-U Calculation Example: A price increase may be requested only at each time interval specified above, using the methodology outlined in this section. To request a price increase, Contractor shall submit a letter stating the percentage amount of the requested increase and adjusted price to the Orange County Procurement Division. The letter shall include the complete calculation utilizing the formula above, and a copy of the CPI-U index table used in the calculation. The maximum allowable increase shall not exceed 4%, unless authorized by the Manager, Procurement Division. All price adjustments must be accepted by the Manager, Procurement Division and shall be memorialized by written amendment to this contract. No retroactive contract price adjustments will be allowed. Should the CPI-U for All Urban Consumers, All Items, U.S City Average, as published by the U.S. Department of Labor, Bureau of Labor Statistics decrease during the term of the contract, or any renewals, the Contractor shall notify the Orange County Procurement Division of price decreases in the method outlined above. If approved, the price adjustment shall become effective on the contract renewal date. If the Contractor fails to pass the decrease on to the County, the County reserves the right to place the Contractor in default, cancel the award, and remove the Contractor from the County Vendor List for a period of time deemed suitable by the County. In the event of this occurrence, the County further reserves the right to utilize any options as stated herein.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).

  • Monthly Base Rent With respect to any Payment Date and any Lease Vehicle (other than a Lease Vehicle with respect to which the Disposition Date occurred during such Related Month), the “Monthly Base Rent” with respect to such Lease Vehicle for such Payment Date shall equal the pro rata portion (based upon the number of days in the Related Month with respect to such Payment Date that were included in the Vehicle Term for such Lease Vehicle) of the Depreciation Charge for such Lease Vehicle as of the last day of such Related Month calculated on a 30/360 day basis.