Initial Modco Reinsurance Premium and Reserve Adjustment. On the Effective Date, the Ceding Company shall also transfer to the Reinsurer an additional estimated reinsurance premium equal to the Modified Coinsurance Reserve ("Initial Modco Reinsurance Premium") and the Reinsurer shall immediately transfer to the Ceding Company an amount equal to the Modified Coinsurance Reserve. Such payments shall be settled on a net basis.
Appears in 8 contracts
Samples: Service Agreement (MetLife Insurance CO of Connecticut), Service Agreement (MetLife Insurance CO of Connecticut), Service Agreement (Hancock John Variable Annuity Account H)
Initial Modco Reinsurance Premium and Reserve Adjustment. On the Effective Date, the Ceding Company shall also transfer to the Reinsurer an additional estimated reinsurance premium equal to the Modified Coinsurance Reserve ("Initial Modco Reinsurance PremiumINITIAL MODCO REINSURANCE PREMIUM") and the Reinsurer shall immediately transfer to the Ceding Company an amount equal to the Modified Coinsurance Reserve. Such payments shall be settled on a net basis.
Appears in 2 contracts
Samples: Service Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities), Service Agreement (Metlife of Ct Fund Ul Iii for Variable Life Insurance)
Initial Modco Reinsurance Premium and Reserve Adjustment. On the Effective Date, the Ceding Company shall also transfer to the Reinsurer an additional estimated reinsurance premium equal to the Modified Coinsurance Reserve ("βInitial Modco Reinsurance Premium"β) and the Reinsurer shall immediately transfer to the Ceding Company an amount equal to the Modified Coinsurance Reserve. Such payments shall be settled on a net basis.
Appears in 2 contracts
Samples: Service Agreement, Service Agreement (Hancock John Variable Life Account U)
