Common use of Interest Credit Clause in Contracts

Interest Credit. The Ceding Company shall report balances quarterly to the Reinsurers as soon as practicable but no later than 75 (seventy-five) days in arrears of each calendar quarter end. The Reinsurers shall not transfer or assign their rights to the Funds Withheld Account hereon unless this Treaty is surrendered and a new Treaty is issued. Under any and all circumstances, the Ceding Company must make a book entry of a transfer or assignment in order for such transfer or assignment to be valid. Upon finalization of the payment of all losses recoverable hereon and/or Commutation, if any, the Reinsurers will pay to the Ceding Company the entire amount of the remaining Funds Withheld Account balance, if any.

Interest Credit. The Ceding Company shall report balances quarterly to the Reinsurers as soon as practicable but no later than 75 (seventy-five) days in arrears of each calendar quarter end. The Reinsurers shall not transfer or assign their rights to the Funds Withheld Account hereon unless this Treaty is surrendered and a new Treaty is issued. Under any and all circumstances, the Ceding Company must make a book entry of a transfer or assignment in order for such transfer or assignment to be valid. Upon finalization of the payment of all losses recoverable hereon and/or CommutationCommutation for any Coverage Year, if any, the Reinsurers will pay to the Ceding Company the entire amount of the remaining Funds Withheld Account balance, if any.Ceding