Recapture Fee Sample Clauses
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Recapture Fee. The Ceding Company shall pay a recapture fee (the “Recapture Fee”) to the Reinsurer upon the occurrence of any recapture of the Reinsured Policies pursuant to Section 11.1(b) if such recapture was triggered by the inability of the Ceding Company to obtain full Statutory Financial Statement Credit for the Reinsured Policies due to actions taken by the Ceding Company or its Affiliates; provided, however, that if the Reinsurer is in material breach of any representation, warranty or covenant under this Agreement at the time a recapture is triggered under Section 11.1(b), no Recapture Fee will be due and payable by the Ceding Company. The Recapture Fee shall be equal to an amount to be determined by an actuarial appraisal prepared by a nationally recognized independent actuarial firm in accordance with methodologies agreed upon by the Ceding Company and Reinsurer to determine the value of the Reinsured Policies at such time in a manner consistent with the valuation of the Reinsured Policies as set forth in the Milliman Report and consistent with the determination of the Initial Ceding Commission based on such valuation.
Recapture Fee. A recapture fee equal to the following will be due to Munich Re: N is the current duration on a Policy. P equals the annual gross reinsurance premium on a Policy that is payable in the second policy year.
Recapture Fee. The Recapture Fee to be paid by the Ceding Company as required under the terms of this Agreement shall equal: An amount equal to [XXX] calculated under Article II for the Accounting Period immediately preceding the Accounting Period during which recapture occurs, for recaptures occurring during the first twenty (20) years of this Agreement and is equal to zero (0) for recaptures occurring thereafter.
Recapture Fee. The Recapture Fee to be paid by the Ceding Company as required under the terms of this Agreement shall be equal to [Redacted].
Recapture Fee. On a full or partial recapture there shall be a Recapture Fee as defined in Addendum 1.
Recapture Fee. The amount of the Recapture Fee shall be determined in accordance with the formula set forth below by ▇▇▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇ ▇▇▇▇▇▇ (“▇▇▇▇▇▇▇▇▇▇▇”), or such other nationally recognized actuarial consulting firm as may be agreed by the Reinsurer and the Company and which shall not be affiliated with either the Reinsurer or the Company. ▇▇▇▇▇▇▇▇▇▇▇ shall determine the amount of the Recapture Fee, unless the Reinsurer and the Company reach an agreement in writing on the use of another actuarial firm within 30 Business Days of the delivery of an Election Notice electing recapture. The actuarial firm selected to calculate the amount of the Recapture Fee is referred to hereinafter as the “Actuary.” The Recapture Fee shall be equal to (a) + (b) - (c), where (a) is the Required Balance (as defined in the Asset Purchase Agreement and the Coinsurance Agreement to which this Exhibit is attached) as of the date on which the recapture is consummated (the “Recapture Date”), (b) is the amount of the Penalty Fee as determined below and (c) is the amount of the Ceding Commission as determined below.
Recapture Fee. As consideration for the settlement and termination of all obligations of General American under the Engagement Agreement as set forth herein, General American hereby agrees to pay ARM the sum of $51.5 million (the "Recapture Fee"). The Recapture Fee shall be payable by wire transfer in immediately available funds to a bank account designated by ARM.
Recapture Fee. The Company can recapture on or after January 1, 1997 upon 90 days notice and payment of a Recapture Fee equal to the absolute value of the EAB, if such is negative. Prior to January 1, 1998 there is an Early Recapture Fee equal to the absolute value of the EAB, if such is negative, times the 104%. The Early Recapture Fee for 1997 shall be reduced to 100% if, concurrent with the recapture, the Company and the Reinsurer enter into an agreement which provides relief equal to the amount recaptured on a block of business acceptable to the Reinsurer. ACCOUNTING WORKSHEET FOR EARLY RECAPTURE EXPERIENCE ACCOUNT BALANCE
1. Beg. Experience Account Assets (EAA) ________