Common use of Interest on Delinquent Payments Clause in Contracts

Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to BMA, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due BMA to (ii) the date the CEDING COMPANY pays the premium to BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Mxxxx’x seasoned Aaa (the “Interest Rate”).

Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to BMACOMPANY B, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due BMA COMPANY B to (ii) the date the CEDING COMPANY pays the premium to BMA. COMPANY B. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Mxxxx’x Xxxxx'x seasoned Aaa (the “"Interest Rate”").

Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting undisputed premiums to BMA, BMA such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due BMA to (ii) the date the CEDING COMPANY pays the premium to BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Mxxxx’x Moody's seasoned Aaa (the “"Interest Rate”Ratx").

Interest on Delinquent Payments. If the CEDING COMPANY is more than 90 days in arrears in remitting premiums to BMA, such premiums will be considered delinquent and interest will be added to the amount to be remitted. Interest will be calculated from (i) the time the premiums are due BMA to (ii) the date the CEDING COMPANY pays the premium to BMA. The rate of interest charged will be equal to the rate listed in the Federal Reserve Statistical Release, as promulgated by the Board of Governors of the Federal Reserve System, for the monthly average of Corporate bonds, Mxxxx’x Xxxxx'x seasoned Aaa (the “"Interest Rate”").