Reductions and Cancellations. 1. If a portion of a Policy is terminated, the REINSURER shall return to the REINSURED any reinsurance Premiums on that Policy in the amount that the Reinsurance Share bears to the amount of the reduction. 2. If a Policy is cancelled in accordance with a thirty day cancellation provision, the REINSURED shall refund the entire Policy Issuance Allowance to the REINSURER, and the REINSURER shall refund the entire Reinsurance Share of the Premiums to REINSURED each as they relate to the cancelled Policy 3. Payments made pursuant to a reduction or cancellation shall include interest and be paid pursuant to Section E.
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Sources: Reinsurance Agreement (Metropolitan Mortgage & Securities Co Inc)
Reductions and Cancellations. 1. If a portion of a Policy is terminated, the REINSURER shall return to the REINSURED any reinsurance Premiums on that Policy in the amount that the Reinsurance Share bears to the amount of the reduction.
2. If a Policy is cancelled in accordance with a thirty day cancellation provision, the REINSURED shall refund the entire Policy Issuance Allowance to the REINSURER, and the REINSURER shall refund the entire Reinsurance Share of the Premiums to REINSURED each as they relate to the cancelled Policy
3. Payments made pursuant to a reduction or cancellation shall include interest and be paid pursuant to Section E.
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