Annuitization Payments Clause Samples

Annuitization Payments. Within five (5) Business Days following the receipt by the Ceding Company of any Annuitization Payment (as defined in the ACRA Retail Agreement, the ACRA 2 Retail Agreement or the Catalina Retail Agreement, as applicable), the Ceding Company shall pay to the Reinsurer an amount equal to the applicable Quota Share of such Annuitization Payment. Within five (5) Business Days following the receipt by the Ceding Company of the Recapture Payment (as defined in the Recapture Amendment), the Ceding Company shall pay to the Reinsurer an amount equal to the applicable Quota Share of such Recapture Payment.