Terminal Cash Settlement Payment. The Terminal Cash Settlement shall be due [REDACTED] Business Days following receipt of notice of the Terminal Cash Settlement by the Reinsurer as described in Section 22.01. If the Terminal Cash Settlement is not paid within the above specified time period, it will be considered delinquent, unless the payment period is extended as agreed upon by both Parties in writing. Delinquent payments shall accrue interest at the Delayed Payment Interest Rate as of the close of business on the payment due date. Such interest shall become immediately due and payable by the applicable Party.
Appears in 26 contracts
Samples: Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Seven)
