Common use of Profit Share Clause in Contracts

Profit Share. (a) Upon the commutation of or final loss settlement under or termination of each of the Reinsurance Contracts, Retrocessionaire shall pay to the account of Retrocedant twenty-five percent (25%) of the Reinsurer Profit less seventy-five percent (75%) of any Underwriting Gain, if such amount is positive, recorded by Retrocedant under the Section A of the applicable Reinsurance Contract (the "PROFIT SHARE"). Upon payment of the Profit Share by Retrocessionaire to Retrocedant, Retrocessionaire shall be discharged from all liabilities under this Agreement except for any liabilities arising from Articles XIII or XIV.

Profit Share. (a) Upon the commutation of or final loss settlement under or termination of each of the Reinsurance Contracts, Retrocessionaire shall pay to the account of Retrocedant twenty-five percent (25%) of the Reinsurer Profit less seventy-five percent (75%) of any Underwriting Gain, if such amount is positive, recorded by Retrocedant under the Section A of the applicable Reinsurance Contract (the "PROFIT SHAREProfit Share"). Upon payment of the Profit Share by Retrocessionaire to Retrocedant, Retrocessionaire shall be discharged from all liabilities under this Agreement except for any liabilities arising from Articles XIII or XIV.