Closing Date Ceding Commission definition

Closing Date Ceding Commission means the “Closing Date Ceding Commission” determined with respect to the Ceding Company pursuant to the Master Agreement. The Closing Date Ceding Commission shall be credited to the Ceding Company as a reduction in the Settlement Amount that would otherwise be payable by the Ceding Company to the Reinsurer at Closing under Section 2.2 of the Master Agreement and Section 3.1 of this Agreement.
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Examples of Closing Date Ceding Commission in a sentence

  • Payment of the Closing Date Ceding Commission shall be accompanied by (i) an amount in cash equal to the Accrued and Unpaid Investment Income as set forth on the Estimated Closing Date Statement and (ii) any payments required to be made as a reduction in the Reinsurance Premium pursuant to Section 1.3(d)(ii) hereof.

  • If the Final Ceding Commission is less than the Closing Date Ceding Commission, Seller shall pay to Purchaser an amount equal to the difference between the Final Ceding Commission and the Closing Date Ceding Commission.

  • Purchaser shall pay the Closing Date Ceding Commission to Seller on the Closing Date by wire transfer of immediately available funds to such bank account as Seller shall designate to Purchaser in writing at least three Business Days prior to the Closing Date.

  • Reinsurer shall pay Reinsured an initial policy expense allowance equal to the Closing Date Ceding Commission determined pursuant to Section 1.3(a), of the Asset Purchase Agreement, as adjusted pursuant to Sections 1.3(c) and 1.6(c) of the Asset Purchase Agreement.

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