Settlement of Net Initial Consideration Clause Samples

The Settlement of Net Initial Consideration clause defines how and when the initial payment, after adjustments, is to be made between parties in a transaction. Typically, this clause outlines the calculation of the net amount due at closing, accounting for factors such as working capital adjustments, debt, or other agreed deductions, and specifies the payment method and timing. Its core function is to ensure both parties have a clear, agreed-upon process for finalizing the initial financial exchange, thereby reducing the risk of disputes over payment amounts or timing.
Settlement of Net Initial Consideration. The Initial Consideration minus the Initial Modified Coinsurance Adjustment minus the Initial Funds Withheld Adjustment shall be the “Net Initial Consideration.” Settlement of the Net Initial Consideration shall be made as follows: a. Within [REDACTED] Business Days of the Closing Date of this Agreement, the Ceding Company shall deliver a report to the Reinsurer setting forth the Initial Consideration, Initial Modified Coinsurance Adjustment, Initial Funds Withheld Adjustment and the Net Initial Consideration. b. If the Net Initial Consideration is a positive amount, the Ceding Company shall remit such amount to the Reinsurer within [REDACTED] Business Days of submission of the report. If the Net Initial Consideration is a negative amount, the Reinsurer shall remit the absolute value of such amount to the Ceding Company within [REDACTED] Business Days of receipt of the report by the Reinsurer. On the Closing Date, the Ceding Company shall allocate to the General Account Portfolios and the [REDACTED] assets mutually determined by the Parties with an aggregate Book Value equal to the sum of the Initial Modified Coinsurance Adjustment plus the Initial Funds Withheld Adjustment.
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Related to Settlement of Net Initial Consideration

  • Initial Consideration On the Effective Date, Retrocessionaire shall reimburse Retrocedant for one hundred percent (100%) of any and all unearned premiums paid by Retrocedant under such Inuring Retrocessions net of any applicable unearned ceding commissions paid to Retrocedant thereunder.

  • Additional Consideration Retrocessionaire agrees to pay under the Inuring Retrocessions all future premiums Retrocedant is obligated to pay pursuant to the terms of the Inuring Retrocessions to the extent that such premiums are allocable to Retrocessionaire in the manner set forth in Exhibit E hereto, and not otherwise paid by Retrocessionaire and to indemnify Retrocedant for all such premiums paid directly by Retrocedant, net of any ceding commissions and similar amounts paid by Third Party Retrocessionaires to Retrocedant.

  • Additional Considerations For FEMA’s Assistance to Firefighters Grant (AFG) Program, recipients must include a penalty clause in all contracts for any AFG-funded vehicle, regardless of dollar amount. In that situation, the contract must include a clause addressing that non-delivery by the contract’s specified date or other vendor nonperformance will require a penalty of no less than $100 per day until such time that the vehicle, compliant with the terms of the contract, has been accepted by the recipient. This penalty clause should, however, account for force majeure or acts of God. AFG recipients should refer to the applicable year’s Notice of Funding Opportunity (NOFO) for additional information, which can be accessed at ▇▇▇▇.▇▇▇.

  • Special Considerations The Provider position may be abolished at any time by the Collin County Commissioners Court.

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $8,155,000., subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).