REINSURANCE PREMIUM DEFINITIONS Sample Clauses

REINSURANCE PREMIUM DEFINITIONS. REINSURED ACCOUNT VALUE means, for each ACTIVE CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2 as it appears in the records of CEDING COMPANY, times the REINSURER’s quota share of risk, as shown in Schedule G. REINSURED GMIB INCOME BASE means, for each ACTIVE CONTRACT, the contractually determined GMIB Benefit Base, subject to the CONTRACT TYPE and GMIB TYPE, times the REINSURER’s quota share of risk, as shown in Schedule G. MONTHLY INCOME BASE means the sum of the REINSURED GMIB INCOME BASE, calculated on each MONTHLY VALUATION DATE, for all ACTIVE CONTRACTs covered by this Agreement.
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REINSURANCE PREMIUM DEFINITIONS. ACCOUNT VALUE means, for each ANNUITY CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2. REINSURED ACCOUNT VALUE means the ACCOUNT VALUE multiplied by the REINSURER’S Quota Share, as shown in Schedule E. REINSURANCE PREMIUM RATE means the premium rate provided in Schedule D, for each CONTRACT TYPE. MONTHLY REINSURANCE PREMIUM RATE means the REINSURANCE PREMIUM RATE divided by 12. MONTHLY REINSURANCE PREMIUM means the sum, for all ACTIVE CONTRACTS reinsured under this Agreement, of the product of (i) the MONTHLY REINSURANCE PREMIUM RATE and (ii) the average of (a) the REINSURED ACCOUNT VALUE as of the current month’s MONTHLY VALUATION DATE and (b) the REINSURED ACCOUNT VALUE as of the previous month’s MONTHLY VALUATION DATE. If this calculation produces a figure smaller than the MINIMUM MONTHLY REINSURANCE PREMIUM, then the MONTHLY REINSURANCE PREMIUM shall be the MINIMUM MONTHLY REINSURANCE PREMIUM. MINIMUM MONTHLY REINSURANCE PREMIUM means $1,000.00. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE. REMITTANCE DATE means the MONTHLY VALUATION DATE following the REINSURANCE PREMIUM DUE DATE.
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REINSURANCE PREMIUM DEFINITIONS. REINSURED ACCOUNT VALUE means, for each ACTIVE CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2 as it appears in the records of CEDING COMPANY, times the REINSURER’s quota share of risk, as shown in Schedule F. REINSURED GMIB BENEFIT BASE means, for each ACTIVE CONTRACT, the contractually determined Guaranteed Benefit Base value, subject to the CONTRACT TYPE and GMIB TYPE, times the REINSURER’s quota share of risk, as shown in Schedule F. MONTHLY BENEFIT BASE means the sum of the contract’s REINSURED GMIB BENEFIT BASE, calculated on each MONTHLY PROCESS DATE, for all ACTIVE CONTRACTS covered by this Agreement.
Sample 1Sample 2
REINSURANCE PREMIUM DEFINITIONS. REINSURED ACCOUNT VALUE means, for each ACTIVE CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2 as it appears in the records of CEDING COMPANY, times the REINSURER’s quota share of risk, as shown in Schedule F. REINSURED GMDB AMOUNT means, for each ACTIVE CONTRACT, the CEDING COMPANY’s minimum required payment, pursuant to an ANNUITY CONTRACT, on the death of the INSURED LIFE, times the REINSURER’s quota share of risk, as shown in Schedule F. MONTHLY REINSURANCE PREMIUM BASE means, for each ACTIVE CONTRACT covered by this Agreement, the greater of the REINSURED ACCOUNT VALUE and the REINSURED GMDB AMOUNT, calculated on each MONTHLY PROCESS DATE. MONTHLY REINSURANCE PREMIUM RATE means the numerical value provided in Schedule D, for each CONTRACT TYPE and GMDB TYPE. MONTHLY REINSURANCE PREMIUM means the sum, for all CONTRACT TYPES and GMDB TYPES, of the MONTHLY REINSURANCE PREMIUM RATE times the MONTHLY REINSURANCE PREMIUM BASE, calculated on each MONTHLY VALUATION DATE. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE. REMITTANCE DATE means the last BUSINESS DAY of calendar month following the REINSURANCE PREMIUM DUE DATE MLLICNY & ACE Tempest GMDB 4
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REINSURANCE PREMIUM DEFINITIONS. AGGREGATE MONTHLY GMDB: The sum of the REINSURED GMDB AMOUNT, calculated on each MONTHLY VALUATION DATE, for all ACTIVE CONTRACTS covered by this Agreement. AGGREGATE MONTHLY ACCOUNT VALUES: The sum of the contract’s REINSURED ACCOUNT VALUE, calculated on each MONTHLY VALUATION DATE, for all ACTIVE CONTRACTS covered by this Agreement.
Sample 1
REINSURANCE PREMIUM DEFINITIONS. REINSURED ACCOUNT VALUE means, for each ACTIVE CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2 as it appears in the records of CEDING COMPANY, times the REINSURER’s quota share of risk, as shown in Schedule F. MONTHLY ACCOUNT VALUE means the sum of the contract’s REINSURED ACCOUNT VALUE, calculated on each MONTHLY VALUATION DATE, for all ACTIVE CONTRACTS covered by this Agreement MONTHLY REINSURANCE PREMIUM RATE means the numerical value provided in Schedule D, for each CONTRACT TYPE and GEB TYPE and Issue Age Band. MONTHLY REINSURANCE PREMIUM equals the MONTHLY REINSURANCE PREMIUM RATE times the MONTHLY ACCOUNT VALUE. REINSURANCE PREMIUM DUE DATE means the MONTHLY VALUATION DATE. REMITTANCE DATE means the last BUSINESS DAY of calendar month following the REINSURANCE PREMIUM DUE DATE Ohio National & ACE Tempest GEB 4
Sample 1
REINSURANCE PREMIUM DEFINITIONS. ACCOUNT VALUE means, for each VARIABLE ANNUITY CONTRACT, the sum of the invested assets in the investment funds shown in Schedule B-2. REINSURED ACCOUNT VALUE means the ACCOUNT VALUE multiplied by the REINSURER’S Quota Share, as shown in Schedule E.
Sample 1
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