Amendment of Section 13. Section 13, ‘SECURITY REQUIRED FROM REINSURER’, is hereby deleted in its entirety and replaced with the following: In order to avoid triggering THE COMPANY’s right of recapture as specified in the “RECAPTURE” section of this Agreement, THE REINSURER must enter into, and maintain during the term of this Agreement, a security trust agreement (“Trust Agreement”), in accordance with the “TRUST AGREEMENT PROVISIONS” section of Schedule A, to establish a trust with assets in the amount of the security amount (“Security Amount”) as defined in the Trust Agreement.
Appears in 4 contracts
Samples: Automatic and Facultative (Pruco Life of New Jersey Variable Appreciable Account), Automatic and Facultative (Pruco Life of New Jersey Variable Appreciable Account), Automatic and Facultative (Pruco Life of New Jersey Variable Appreciable Account)
