Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 9 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (Metropolitan Tower Separate Account Two), Coinsurance and Modified Coinsurance Agreement (Metropolitan Life Separate Account E), Coinsurance and Modified Coinsurance Agreement (Metropolitan Life Separate Account E)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, 3.5 a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 3 contracts
Samples: Transition Services Agreement (AXA Equitable Holdings, Inc.), Transition Services Agreement (Protective Life Insurance Co), Transition Services Agreement (Protective Life Corp)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, a payment will be considered overdue, and such interest will begin to accrue, on the first calendar day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 2 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (Guardian Separate Account R), Coinsurance and Modified Coinsurance Agreement (Guardian Separate Account R)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, SECTION 3.5 a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 1 contract
Samples: Reinsurance Agreement (Mony America Variable Account L)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, 3.4 a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 1 contract
Samples: Coinsurance and Modified Coinsurance Agreement (Farmers Annuity Separate Account A)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.43.3, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
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Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.43.04, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.is
Appears in 1 contract
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is madeRate. For purposes of this Section 3.44.4, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following date which is five (5) Business Days after the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
Appears in 1 contract
Samples: Letter Agreement (Kilico Variable Annuity Separate Account)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.43.04, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision.
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Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will shall accrue on such overdue payment at the Interest Rate until settlement is made. For purposes of this Section 3.4, 3.5 a payment will shall be considered overdue, and such interest will shall begin to accrue, on the first day immediately following the date such payment is due. For greater clarityNotwithstanding the foregoing, a payment shall be deemed to be payments are due hereunder on the last specified due date and the failure to make payments on which such payment may be timely made under due date shall constitute a breach of this Agreement by the applicable provisiondebtor-party.
Appears in 1 contract
Samples: Reinsurance Agreement (Farmers Annuity Separate Account A)
Delayed Payments. If there is a delayed settlement of any payment due hereunder, interest will accrue on such overdue payment at the Interest 180-Day Treasury Rate then in effect until settlement is made. For purposes of this Section 3.43.2, a payment will be considered overdue, and such interest will begin to accrue, on the first day immediately following the date such payment is due. For greater clarity, (i) a payment shall be deemed to be due hereunder on the last date on which such payment may be timely made under the applicable provision., and
Appears in 1 contract
