Terminal Accounting Date definition
Examples of Terminal Accounting Date in a sentence
A "Terminal Accounting Date" shall be the earliest of: (1) the effective date of recapture pursuant to any notice of recapture given under this Agreement; (2) the effective date of termination pursuant to any notice of termination given under this Agreement; or (3) such other date mutually agreed in writing.
Each "Accounting Period" under this Agreement shall be monthly, except that: (a) the initial Accounting Period runs from the date of this Agreement through the last day of the calendar month during which the date of this Agreement falls, and (b) the final Accounting Period runs from the end of the preceding Accounting Period until the Terminal Accounting Date of this Agreement, as described in Article IX, Paragraph 2.
The term “Accounting Period,” as used in this Agreement, shall mean a calendar quarter, except that: (a) the initial Accounting Period shall run from the Effective Date through the last day of the calendar quarter during which the Effective Date falls and (b) the final Accounting Period shall run from the end of the preceding Accounting Period until the Terminal Accounting Date (as defined in Article VIII, Paragraph 2).
During the period between the termination of this Agreement and the Terminal Accounting Date, Direct Paid Claims that accrued prior to the termination of this Agreement shall continue to be paid, and Reserves shall continue to be held, in accordance with the terms set forth herein.
Each "Accounting Period" under this Agreement shall be ----------------- a calendar quarter, except that: (a) the initial Accounting Period runs from the Effective Date through the last day of the calendar quarter during which the Effective Date falls, and (b) the final Accounting Period runs from the end of the preceding Accounting Period until the Terminal Accounting Date of this Agreement, as described in Article VIII, Paragraph 2.
The Terminal Accounting Date will be 120 days after the date of termination.
Each "Accounting Period" under this Agreement will be quarterly, except that: (a) the initial Accounting Period runs from the date of this Agreement through the last day of the calendar quarter during which the date of this Agreement falls, and (b) the final Accounting Period runs from the end of the preceding Accounting Period until the Terminal Accounting Date of this Agreement, as described in Article IX, Paragraph 2.
The Company shall pay to the Reinsurer a Terminal Mod Co Reserve Adjustment in an amount equal to the reserves on the portion of the policies reinsured hereunder on a modified coinsurance basis on the day immediately prior to the Terminal Accounting Date.
A "Terminal Accounting Date" will be the earliest of: (1) the effective date of recapture pursuant to any notice of recapture given under this Agreement; (2) the effective date of termination pursuant to any notice of termination given under this Agreement; or (3) such other date mutually agreed in writing.
The Reinsurer shall return to the Company a Terminal Surrender Benefit of an amount equal to the Total Reserves (excluding any premium deficiency reserves and excess interest reserves) on the portion of the policies reinsured hereunder on the day immediately prior to the Terminal Accounting Date.