Initial Reinsurance Premium. As consideration for the reinsurance by the Reinsurer of the Reinsured Risks under this Agreement, on the Closing Date the Reinsurer shall be entitled to an amount equal to one hundred percent (100%) of the Total SAP Ceded Reserves as of the close of business on the day immediately preceding the Inception Date (the “Initial Reinsurance Premium”).
Initial Reinsurance Premium. The Initial Reinsurance Premium shall equal the Treaty Reserve applicable to each Individual Policy on the date it is first covered by this Agreement. For all business the Ceding Company assumes from Lincoln Life & Annuity of New York, the Initial Reinsurance Premium shall equal the Treaty Reserves less an adjustment reflecting the anticipated future profitability on the business assumed by the Ceding Company effective January 1, 2010. For all business issued by the Ceding Company after the Agreement’s Effective Date, the Initial Premium shall be zero.
Initial Reinsurance Premium. (a) As initial consideration for the Reinsurer entering into this Agreement (the “Initial Premium”), the Reinsurer shall be entitled to cash and/or Eligible Assets having an aggregate Fair Market Value as of the Effective Time equal to the sum of:
Initial Reinsurance Premium. The Parties agree and acknowledge that the initial reserve transfer occurred under the Subject Reinsurance Agreements (or predecessor reinsurance agreements), and there will be no additional initial reinsurance premium or ceding commission due between the Parties as a result of entering into this Agreement except as provided in Section 4.2.
Initial Reinsurance Premium. (a) As initial consideration for the Reinsurer entering into this Agreement (the “Initial Premium”),
Initial Reinsurance Premium. The Initial Reinsurance Premium shall equal the Treaty Reserve applicable to each Individual Policy inforce on the Effective Date.
Initial Reinsurance Premium. On the Effective Date, the Ceding Company shall pay to the Reinsurer by depositing into the Trust Account reinsurance premium with respect to the Business Reinsured that is in effect on the Effective Date, the U.S. dollar amount equal to (i)(A) the Ceded Percentage multiplied by (B) the actually collected portion of Adjusted UEPR on the books of the Ceding Company as of such date, as estimated by the Ceding Company in good faith, less (ii) the Ceding Commission applicable to such Adjusted UEPR (such amount, as adjusted, the “Initial Reinsurance Premium”). Such amount shall be paid in cash or Cash Equivalents. The Ceding Company shall adjust the Initial Reinsurance Premium on a quarterly basis based on actual data and future development of such Adjusted UEPR, including the collection after the Effective Date of Net Ceded Premium on such Business Reinsured in effect on the Effective Date.
Initial Reinsurance Premium. The Ceding Company shall owe to the Reinsurer --------------------------- an "Initial Reinsurance Premium" for the reinsurance hereunder equal to the Statutory Reserves as of the Effective Date. The Initial Reinsurance Premium shall be calculated and paid in accordance with Article VI.
Initial Reinsurance Premium. (a) As initial consideration for the Reinsurer entering into this Agreement (the “Initial Premium”), the Reinsurer shall be entitled to an amount equal to the sum of:
Initial Reinsurance Premium. As consideration for the assumption by the Reinsurer of the liabilities under this Agreement, on the Closing Date, the Company shall transfer to the Reinsurer (i) Investment Assets with an aggregate fair market value to the Company equal to one hundred percent (100%) of the Reserves with respect to the Reinsured SPDAs as of the close of business on the Business Day immediately preceding the Effective Date plus (ii) an amount equal to the Short Term Rate per annum on such Investment Assets from the Effective Date until the close of business on the Business Day immediately preceding the Closing Date (the "Initial Reinsurance Premium"). The Company shall deliver to the Reinsurer possession of the Investment Assets and such deeds, bills of sale, endorsements, assignments and other good and sufficient instruments of conveyance and transfer in form and substance reasonably acceptable to the parties as shall be effective to vest in the Reinsurer all of the right, title and interest of the Company in and to the Investment Assets. Payment of the Initial Reinsurance Premium shall be a condition precedent of reinsurance coverage hereunder.
