Experience Refund definition

Experience Refund. Any amount due from the Reinsurer to the Company in excess of those provided for in Section 7 of this Agreement which is based solely on the experience of the Reinsured Policies.

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Experience Refund shall have the meaning specified in Exhibit IV.

Experience Refund has the meaning set forth in Schedule F-2.

Examples of Experience Refund in a sentence

• The Reinsurer shall pay an Experience Refund at the end of each Accounting Period.

• If the Trial Experience Refund is negative for the current Accounting Period, then the Experience Refund is set equal to zero.

• For the period set forth in Paragraph 2, the Reinsurer shall pay an Experience Refund to the Ceding Company equal to ninety-five percent (95%) of the Trial Experience Refund detailed in Paragraph 3 below at the end of each Accounting Period with respect to the reinsurance hereunder, if such Trial Experience Refund is positive for that Accounting Period.

• Reinsurance under this Agreement is not eligible for an Experience Refund.

• If an Experience Refund or Profit Commission is payable under this Agreement, the conditions and formula are as shown in Schedule IV.

More Definitions of Experience Refund

Experience Refund. The Reinsurer shall pay each Reinsured an experience refund calculated quarterly as seventy five percent (75%) times (investment income earned - investment income credited - allocated expenses - loss carry-forward) but not less than zero. For this purpose, the loss carry-forward shall be calculated quarterly as (prior quarter loss carry-forward times (1 + calculated portfolio rate for the quarter) + investment income credited + allocated expenses - investment income earned) but not less than zero. ADMINISTRATIVE SERVICES AGREEMENT --------------------------------- THIS AGREEMENT is made as of January 1, 2006, between FIRST METLIFE INVESTORS INSURANCE COMPANY (the "Company"), ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, a life insurance corporation organized and existing under the laws of the State of New York, and METROPOLITAN LIFE INSURANCE COMPANY (the "Administrator"), ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, a life insurance corporation organized and existing under the laws of the State of New York. THE BACKGROUND OF THIS AGREEMENT is that the parties desire that the Administrator shall administer the Company's retained asset account supplemental contract liabilities (each a "TCA"), which TCA liabilities are the subject of a Reinsurance Agreement between the parties of even date herewith.

Experience Refund has the meaning set forth in Section 8.1(c).

Experience Refund has the meaning set forth in Schedule B.

Experience Refund means the portion of the reinsurance premium that is returned to the Reinsured when claims experience is better than expected when the premium was calculated. The experience refund, if any, shall be calculated as shown in Schedule B3.

Experience Refund means, for any Accounting Period, the amount computed and recorded in Line AM of Schedule B, for such Accounting Period.

Experience Refund is defined as the amount paid by the Reinsurer to the Cedant pursuant to Article VIII - Experience Refund.

Experience Refund has the meaning given to such term in the Coinsurance Agreement.