Standard Settlements. If the amount calculated pursuant to Section 4.1 is positive, GELAAC shall pay such amount to Reinsurer within fifteen (15) days of GELAAC’s delivery of the quarterly accounting to the Reinsurer. If the amount calculated is negative, Reinsurer shall pay such amount to GELAAC within fifteen days of GELAAC’s delivery of the quarterly accounting to the Reinsurer.
Appears in 2 contracts
Sources: Reinsurance Agreement, Reinsurance Agreement (Ge Life & Annuity Assurance Co)