Common use of INITIAL QUARTERLY SETTLEMENT Clause in Contracts

INITIAL QUARTERLY SETTLEMENT. Within twenty-five (25) days after the initial Accounting Period, the Ceding Company will pay the Reinsurer the Initial Consideration determined in accordance with Article II, Paragraph 1. Simultaneously, the Reinsurer will pay the Ceding Company the sum of: (i) the Initial Reserve Adjustment determined in accordance with Article V, Paragraph 1, plus (ii) the Initial Commission determined in accordance with Article III, Paragraph 1.