Overpayment of Reinsurance Premiums. If the Ceding Company overpays a Net Reinsurance Premium Balance and the Reinsurer accepts the overpayment, the Reinsurer's acceptance of the overpayment will not constitute or create an additional reinsurance liability, and it will not result in any additional reinsurance. Instead, the Reinsurer shall be liable to the Ceding Company for a credit in the amount of the overpayment without interest.
Appears in 12 contracts
Samples: Automatic and Facultative Monthly Renewable Term Reinsurance Agreement (Separate Account Vl I of Hartford Life Insurance Co), Renewable Term Reinsurance Agreement (Hartford Life Insurance Co Separate Account Vl Ii), Automatic and Facultative Monthly Renewable Term Reinsurance Agreement (Hartford Life Insurance Co Separate Account Vl Ii)