Common use of Administration and Accounting Clause in Contracts

Administration and Accounting. A. The Ceding Company shall administer the Policies, establish and maintain necessary and appropriate Policy records in accordance with its general standards and practices and shall furnish monthly statements for the month just past to the Reinsurer in a form substantially similar to that shown in Exhibit V within thirty (30) days following the close of each month showing the net amount of reinsurance premium or return of reinsurance premium due to or from the Reinsurer. The net amount shall be based on reinsurance premiums less claims.

Administration and Accounting. A. The Ceding Company shall administer the Policies, establish and maintain necessary and appropriate Policy records in accordance with its general standards and practices and shall furnish monthly statements for the month just past to the Reinsurer in a form substantially similar to that shown in Exhibit V within thirty (30) days following the close of each month showing the net amount of reinsurance premium or return of reinsurance premium due to or from the Reinsurer. The net amount shall be based on reinsurance premiums net of allowances, including any adjustments due to termination or changes, less claims.

Administration and Accounting. A. The Ceding Company shall administer the Policies, establish and maintain necessary and appropriate Policy records in accordance with its general standards and practices and shall furnish monthly statements for the month just past to the Reinsurer in a form substantially similar to that shown in Exhibit V within thirty (30) days following the close of each month showing the net amount of reinsurance premium or return of reinsurance premium due to or from the Reinsurer. The net amount shall be based on reinsurance premiums less claims.