Terminal Accounting Payments Sample Clauses

Terminal Accounting Payments. (a) In connection with a termination pursuant to Section 9.3 or a recapture pursuant to Section 9.4, the Ceding Company shall prepare and deliver a settlement statement (the “Terminal Settlement Statement”) by the applicable Terminal Settlement Statement Date setting forth the terminal settlement calculated in accordance with Schedule B, which shall include the Net Settlement due for the final Accounting Period (the “Terminal Settlement”). Following delivery of the Terminal Settlement Statement, the Ceding Company shall have the right to withdraw assets in the Trust Account based on their Fair Market Value to satisfy all undisputed amounts of the Terminal Settlement, in accordance with the terms of the Trust Agreement. If the Fair Market Value of assets in the Trust Account is not sufficient to discharge such obligations, the Reinsurer shall pay to the Ceding Company cash in the amount of such deficiency within ten (10) Business Days of its receipt of the Terminal Settlement Statement. In addition, following the Terminal Settlement, the Trust Account shall be terminated and any remaining amounts or amount held in trust pursuant to Article IV shall be released to the Reinsurer after the full satisfaction of the Terminal Settlement pursuant to the Terminal Settlement Statement.
Sample 1
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Related to Terminal Accounting Payments

  • Final Accounting In the event of the dissolution of the Company, prior to any liquidation, a proper accounting shall be made to the Member from the date of the last previous accounting to the date of dissolution.

  • Additional Accounting Services Ultimus shall also perform the following additional accounting services for each Portfolio:

  • Compensation and FUND ACCOUNTING Expenses FUND ACCOUNTING shall be paid as compensation for its services pursuant to this Agreement such compensation as may from time to time be agreed upon in writing by the two parties. FUND ACCOUNTING shall be entitled, if agreed to by the Fund on behalf of the Portfolio, to recover its reasonable telephone, courier or delivery service, and all other reasonable out-of-pocket, expenses as incurred, including, without limitation, reasonable attorneys' fees and reasonable fees for pricing services.

  • Tax Accounting Services (1) Maintain accounting records for the investment portfolio of the Fund to support the tax reporting required for “regulated investment companies” under the Internal Revenue Code of 1986, as amended (the “Code”).

  • Accounting Fees The charges and expenses of the independent accountants retained by the Trust;

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Monthly Accountings Silicon shall provide Borrower monthly with an account of advances, charges, expenses and payments made pursuant to this Agreement. Such account shall be deemed correct, accurate and binding on Borrower and an account stated (except for reverses and reapplications of payments made and corrections of errors discovered by Silicon), unless Borrower notifies Silicon in writing to the contrary within thirty days after each account is rendered, describing the nature of any alleged errors or admissions.

  • Accounting Fee Each Restaurant shall pay to the General Partner or its designee a fee (“Accounting Fee”) in consideration for the accounting services provided by the General Partner or its designee to the Restaurant. The initial Accounting Fee shall be established by the Company and shall be either a flat fee per Restaurant or a specified percentage of each Restaurant’s gross sales, as the Company deems appropriate in its reasonable discretion. The Accounting Fee shall be reviewed on a monthly basis by the Company and may be increased or decreased by the Company from time to time in accordance with the Company’s criteria for establishing such fees for company owned restaurants.

  • Fiscal Year; Accounting In the case of the Borrower, cause its fiscal year to end on December 31.

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

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