Common use of Administration by Reinsurer Clause in Contracts

Administration by Reinsurer. (a) At any time from and after the fifteenth (15th) anniversary of the Inception Date, the Reinsurer shall have the right to assume from the Company the administration of the Reinsured Contracts, provided that the Reinsurer provides twelve (12) months prior written notice of such assumption, which notice may be given as early as the fourteenth (14th) anniversary of the Inception Date to take effect as of the fifteenth (15th) anniversary of the Inception Date. The Reinsurer shall bear all transition costs associated with an assumption of the administration of the Reinsured Contracts pursuant to this paragraph (a) of this Section 3.7. (b) In addition to the provisions of Section 3.7(a), the Reinsurer shall have the right, upon written notice to the Company to assume from the Company the administration of the Reinsured Contracts upon the occurrence of any of the following events: (i) A voluntary or involuntary proceeding is commenced in any jurisdiction by or against the Company for the purpose of conserving, rehabilitating or liquidating the Company; (ii) There is a material breach by the Company of any material term or condition of this Article III that is not cured by the Company within thirty (30) days after receipt of written notice from the Reinsurer of such breach or act (provided that the Reinsurer shall not have the right to assume such administration (A) for so long as the Company is making a good faith effort to cure such a breach, not to exceed an additional one hundred eighty (180) days or (B) during the pendency of any dispute resolution proceedings as set forth in Article XIII regarding an alleged material breach); or (iii) The Company is unable to perform the services required under this Article III for a period of thirty (30) consecutive days for any reason, other than as a result of a Force Majeure, it being understood that nothing in this Section 3.7(b)(iii) shall relieve the Company from its administrative responsibilities under this Agreement. For purposes of this Agreement “Force Majeure” means any acts or omissions of any civil or military authority, acts of God, acts or omissions of the Reinsurer, fires, strikes or other labor disturbances, equipment failures, fluctuations or non-availability of electrical power, heat, light, air conditioning or telecommunications equipment, or any other act, omission or occurrence beyond the Company’s reasonable control, irrespective of whether similar to the foregoing enumerated acts, omissions or occurrences.

Administration by Reinsurer. (a) At any time from and after the fifteenth (15th) anniversary of the Inception Date, the Reinsurer shall have the right to assume from the Company the administration of the Reinsured Contracts, provided that the Reinsurer provides twelve (12) months prior written notice of such assumption, which notice may be given as early as the fourteenth (14th) anniversary of the Inception Date to take effect as of the fifteenth (15th) anniversary of the Inception Date. The Reinsurer shall bear all transition costs associated with an assumption of the administration of the Reinsured Contracts pursuant to this paragraph (a) of this Section 3.73.10. (b) In addition to the provisions of Section 3.7(a3.10(a), the Reinsurer shall have the right, upon written notice to the Company Company, to assume from the Company Company, the administration of the Reinsured Contracts upon the occurrence of any of the following events: (i) A voluntary or involuntary proceeding is commenced in any jurisdiction by or against the Company for the purpose of conserving, rehabilitating or liquidating the Company; (ii) There is a material breach by the Company of any material term or condition of this Article III that is not cured by the Company within thirty (30) days after receipt of written notice from the Reinsurer of such breach or act (provided that the Reinsurer shall not have the right to assume such administration (A) for so long as the Company is making a good faith effort to cure such a breach, not to exceed an additional one hundred eighty (180) days or (B) during the pendency of any dispute resolution proceedings as set forth in Article XIII XII regarding an alleged material breach); or (iii) The Company is unable to perform the services required under this Article III for a period of thirty (30) consecutive days for any reason, other than as a result of a Force Majeure, it being understood that nothing in this Section 3.7(b)(iii3.10(b)(iii) shall relieve the Company from its administrative responsibilities under this Agreement. For purposes of this Agreement “Force Majeure” means any acts or omissions of any civil or military authority, acts of God, acts or omissions of the Reinsurer, fires, strikes or other labor disturbances, equipment failures, fluctuations or non-availability of electrical power, heat, light, air conditioning or telecommunications equipment, or any other act, omission or occurrence beyond the Company’s reasonable control, irrespective of whether similar to the foregoing enumerated acts, omissions or occurrences.

Administration by Reinsurer. (a) At any time from and after the fifteenth (15th) anniversary of the Inception Date, the Reinsurer shall have the right to assume from the Company the administration of the Reinsured Contracts, provided that the Reinsurer provides twelve (12) months prior written notice of such assumption, which notice may be given as early as the fourteenth (14th) anniversary of the Inception Date to take effect as of the fifteenth (15th) anniversary of the Inception Date. The Reinsurer shall bear all transition costs associated with an assumption of the administration of the Reinsured Contracts pursuant to this paragraph (a) of this Section 3.73.10. (b) In addition to the provisions of Section 3.7(a3.10(a), the Reinsurer shall have the right, upon written notice to the Company Company, to assume from the Company Company, the administration of the Reinsured Contracts upon the occurrence of any of the following events: (i) A voluntary or involuntary proceeding is commenced in any jurisdiction by or against the Company for the purpose of conserving, rehabilitating or liquidating the Company; (ii) There is a material breach by the Company of any material term or condition of this Article III that is not cured by the Company within thirty (30) days after receipt of written notice from the Reinsurer of such breach or act (provided that the Reinsurer shall not have the right to assume such administration (A) for so long as the Company is making a good faith effort to cure such a breach, not to exceed an additional one hundred eighty (180) days or (B) during the pendency of any dispute resolution proceedings as set forth in Article XIII XII regarding an alleged material breach); or (iii) The Company is unable to perform the services required under this Article III for a period of thirty (30) consecutive days for any reason, other than as a result of a Force Majeure, it being understood that nothing in this Section 3.7(b)(iii3.10(b)(iii) shall relieve the Company from its administrative responsibilities under this Agreement. For purposes of this Agreement “"Force Majeure” " means any acts or omissions of any civil or military authority, acts of God, acts or omissions of the Reinsurer, fires, strikes or other labor disturbances, equipment failures, fluctuations or non-availability of electrical power, heat, light, air conditioning or telecommunications equipment, or any other act, omission or occurrence beyond the Company’s 's reasonable control, irrespective of whether similar to the foregoing enumerated acts, omissions or occurrences.

Administration by Reinsurer. (a) At any time from and after the fifteenth (15th) anniversary of the Inception Date, the Reinsurer shall have the right to assume from the Company the administration of the Reinsured ContractsNovated Policies, provided that the Reinsurer provides twelve (12) months prior written notice of such assumption, which notice may be given as early as the fourteenth (14th) anniversary of the Inception Date to take effect as of the fifteenth (15th) anniversary of the Inception Date. The Reinsurer shall bear all transition costs associated with an assumption of the administration of the Reinsured Contracts Novated Policies pursuant to this paragraph (a) of this Section 3.73.9. (b) In addition to the provisions of Section 3.7(a3.9(a), the Reinsurer shall have the right, upon written notice to the Company to assume from the Company the administration of the Reinsured Contracts Novated Policies upon the occurrence of any of the following events: (i) A voluntary or involuntary proceeding is commenced in any jurisdiction by or against the Company for the purpose of conserving, rehabilitating or liquidating the Company; (ii) There is a material breach by the Company of any material term or condition of this Article III that is not cured by the Company within thirty (30) days after receipt of written notice from the Reinsurer of such breach or act (provided that the Reinsurer shall not have the right to assume such administration (A) for so long as the Company is making a good faith effort to cure such a breach, not to exceed an additional one hundred eighty (180) days or (B) during the pendency of any dispute resolution proceedings as set forth in Article XIII XV regarding an alleged material breach); or (iii) The Company is unable to perform the services required under this Article III for a period of thirty (30) consecutive days for any reason, other than as a result of a Force Majeure, it being understood that nothing in this Section 3.7(b)(iii3.9(b)(iii) shall relieve the Company from its administrative responsibilities under this Agreement. For purposes of this Agreement “Force Majeure” means any acts or omissions of any civil or military authority, acts of God, acts or omissions of the Reinsurer, fires, strikes or other labor disturbances, equipment failures, fluctuations or non-availability of electrical power, heat, light, air conditioning or telecommunications equipment, or any other act, omission or occurrence beyond the Company’s reasonable control, irrespective of whether similar to the foregoing enumerated acts, omissions or occurrences.

Administration by Reinsurer. (a) At any time from and after the fifteenth (15th) anniversary of the Inception Date, the Reinsurer shall have the right to assume from the The Company the administration of the Reinsured Contracts, provided that the Reinsurer provides twelve (12) months prior written notice of such assumption, which notice may be given as early as the fourteenth (14th) anniversary of the Inception Date to take effect as of the fifteenth (15th) anniversary of the Inception Date. The Reinsurer shall bear all transition costs associated with an assumption of the administration of the Reinsured Contracts pursuant to this paragraph (a) of this Section 3.7. (b) In addition to the provisions of Section 3.7(a), the Reinsurer shall have the right, upon written notice to the Company Reinsurer, to assume from the Company Reinsurer the administration of the Reinsured Contracts Policies upon the occurrence of any of the following events: (i) A voluntary or involuntary proceeding is commenced in any jurisdiction by or against the Company Reinsurer for the purpose of conserving, rehabilitating or liquidating the CompanyReinsurer; (ii) There is a material breach by the Company Reinsurer of any material term or condition of this Article III that is not cured by the Company Reinsurer within thirty (30) days after receipt of written notice from the Reinsurer Company of such breach or act (provided that the Reinsurer Company shall not have the right to assume such administration (A) for so long as the Company Reinsurer is making a good faith effort to cure such a breach, not to exceed an additional one hundred eighty (180) days or (B) during the pendency of any dispute resolution proceedings as set forth in Article XIII XII regarding an alleged material breach); or (iii) The Company Reinsurer is unable to perform the services required under this Article III for a period of thirty (30) consecutive days for any reason, other than as a result of a Force Majeure, it being understood that nothing in this Section 3.7(b)(iii) 3.7 shall relieve the Company Reinsurer from its administrative responsibilities under this Agreement. For purposes of this Agreement “Force Majeure” means any acts or omissions of any civil or military authority, acts of God, acts or omissions of the ReinsurerCompany, fires, strikes or other labor disturbances, equipment failures, fluctuations or non-availability of electrical power, heat, light, air conditioning or telecommunications equipment, or any other act, omission or occurrence beyond the CompanyReinsurer’s reasonable control, irrespective of whether similar to the foregoing enumerated acts, omissions or occurrences.