TRIAL EXPERIENCE REFUND Sample Clauses
TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial Experience Refund" for any Reinsurer shall be equal to (a) minus (b) minus (c), where:
(a) equals the sum of:
(i) the Reinsurance Premium determined in accordance with Article II; and
(ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer determined in accordance with Article IV;
(b) equals the sum of:
(i) the Indemnification for Benefit Payments, determined in accordance with Article V;
(ii) the Allowance determined in accordance with Article III; and
(iii) any Modified Coinsurance Reserve Adjustment payable to the Ceding Company determined in accordance with Article IV; and
(c) equals the Recapture Charge defined in Article IX, Paragraph 5 as of the end of the prior Accounting Period plus interest as described in Article IX, Paragraph 5(b)(i).
TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial ----------------------- Experience Refund" will be equal to (a) minus (b), where:
(a) equals the sum of:
(i) the Reinsurance Premium determined in accordance with Article II; and
(ii) the Funds Withheld Investment Credit as defined in Schedule C.
(b) equals the sum of:
(i) the Reimbursement for Benefit Payments, determined in accordance with Article V;
(ii) the Allowance determined in accordance with Article III;
(iii) the Risk and Profit Charge determined in Accordance with Article VI, Paragraph 1; and
(iv) the GAAP Reserves (as defined in Schedule B) as of the end of the accounting period, minus the GAAP Reserves as of the end of the prior accounting period;
(v) the balance of the Memorandum Account, as described in Article VIII, Paragraph 8, at the end of the preceding Accounting Period, with accrued interest thereon
TRIAL EXPERIENCE REFUND. With respect to each Accounting Period, the "Trial Experience Refund" for any Reinsurer will be equal to (a) minus (b), where:
(a) equals the sum of:
(i) the Renewal Reinsurance Premium determined in accordance with Article II; and
(ii) any Modified Coinsurance Reserve Adjustment payable to the Reinsurer determined in accordance with Article IV; and
(b) equals the sum of:
(i) the Reimbursement for Benefit Payments, determined in accordance with Article V;
(ii) the Allowance determined in accordance with Article III;
(iii) any Modified Coinsurance Reserve Adjustment payable to MetLife determined in accordance with Article IV;
(iv) the Expense and Risk Charge determined in accordance with Paragraph 2 of the Reinsurer's Certificate; and
(v) the balance of the Memorandum Account, as described in Article VII, Paragraph 9, at the end of the preceding Accounting Period, with accrued interest thereon.