Reinsuring Clause. The amount owed the Company for any accounting period shall be the excess, if any, of Benefits less Reinsurance Premiums, and the amount owed the Reinsurer for any accounting period shall be the excess, if any, of Reinsurance Premiums over Benefits. If such amounts cannot be determined at such date on an exact basis, such payments may be determined on an estimated basis and any final adjustments are to be made within twenty (20) Business Days after the end of the Accounting Period.
Appears in 3 contracts
Sources: Coinsurance Agreement (First Commonwealth Corp), Coinsurance Agreement (United Trust Inc /Il/), Coinsurance Agreement (United Income Inc)