BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days written notice of termination to the Ceding Company. As of the close of the last day of this ninety (90) day notice period, the Reinsurer’s liability for all risks reinsured under this Agreement will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this Article, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 5 contracts
Samples: Reinsurance Agreement (Thrivent Variable Life Account I), Automatic and Facultative Yrt Reinsurance Agreement (Farm Bureau Life Variable Account), Reinsurance Treaty (Life Investors Variable Life Account A)
BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days written notice of termination to the Ceding Company. As of the close of the last day of this ninety (90) day notice period, the Reinsurer’s 's liability for all risks reinsured under this Agreement will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this Article, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 4 contracts
Samples: Reinsurance Agreement (Ameritas Variable Separate Account V), Automatic and Facultative Coinsurance Reinsurance Agreement (Cuna Mutual Variable Life Insurance Account), Reinsurance Agreement (National Variable Life Insurance Account)
BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days written notice of termination to the Ceding Company. As of the close of the last day of this ninety (90) day notice period, the Reinsurer’s liability for all risks reinsured under this Agreement will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this ArticleAgreement, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 4 contracts
Samples: Coinsurance Reinsurance Agreement (Symetra Financial CORP), Coinsurance Reinsurance Agreement (Symetra Financial CORP), Reinsurance Agreement (Union Security Insurance Co Variable Account C)
BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days written notice of termination to the Ceding Company. As of the close of the last day of this ninety (90) day notice period, the Reinsurer’s 's liability for all risks reinsured under this Agreement will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this ArticleAgreement, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 3 contracts
Samples: Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co), Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co), Automatic Risk Premium Reinsurance Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co)
BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days written notice of termination to the Ceding Company. As of the close of the last day of this ninety (90) day notice period, the Reinsurer’s 's liability for all risks reinsured under this Agreement will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this ArticleAgreement, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 2 contracts
Samples: Risk Premium Reinsurance Agreement (Life Insurance Separate Account of Usaa Life Insurance Co), Reinsurance Agreement (Carillon Life Account)
BALANCES IN DEFAULT. The Reinsurer will have the right to terminate this Agreement, when balances are in default, by giving ninety (90) days days’ written notice of termination to the Ceding Company. As of the close of the last day of this ninety ninety- (90) day notice period, the Reinsurer’s liability for all risks reinsured under this Agreement the default statements will terminate. The first day of this ninety (90) day notice of termination, resulting from default as described in paragraph four of this Article, will be the day the notice is received in the mail by the Ceding Company, or if the mail is not used, the day it is delivered to the Ceding Company. If all balances in default are received within the ninety ninety- (90) day time period, the Agreement will remain in effect. The interest payable on balances in default is stipulated as shown in Schedule I.
Appears in 1 contract
Samples: Reinsurance Agreement (Minnesota Life Variable Life Account)
