Common use of Claims Settlement Account Clause in Contracts

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representative, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIII, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 3 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representative, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIII, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Effective Date, the Reinsurer Company shall establish a separate fiduciary bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits Claims and shall authorize two signatories who shall be representatives of employed by the Company Administrator and approved by the Reinsurer Company in writing to issue drafts checks in the name of the Reinsurer and showing the identity of the Company. The Reinsurer Company shall fund such account for payment of Benefits Claims in accordance with the provisions of Section 4.1(b4.2(b). Any The Claims Settlement Account shall be the property of the Company and any interest earned on the Claims Settlement Account shall belong to the ReinsurerCompany. The Claims Settlement Account shall be administered by the Company Administrator in a fiduciary capacity and shall be used solely by the Company Administrator to make payments of Benefits Claims in accordance with the terms of this Agreement. (b) The Reinsurer Company shall deposit $2 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer Administrator from time to time in amounts sufficient to provide funds to the Company Administrator for the payment of Benefits Claims during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer Company shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company Administrator shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the CompanyAdministrator’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits Claims from the Claim Settlement Account. The Company Administrator will make available to the Reinsurer Company or its designated representative, or shall furnish to the Reinsurer Company or its designated representative, upon request of the Reinsurer Company or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company Administrator at the CompanyAdministrator’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company Administrator in response to requests from the Reinsurer Company shall be reimbursed by the ReinsurerCompany. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company Administrator shall render a complete accounting to the Reinsurer Company detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IVSection 4.2. (f) Upon a termination of this Agreement pursuant to Article VIIIXIV, the Reinsurer Company shall close the Claims Settlement Account and any closing balance therein shall be the property of the ReinsurerCompany. The CompanyAdministrator’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7XIV. Upon termination of its authority to pay claims, the Company Administrator shall promptly return to the Reinsurer Company all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits Reinsured Risks and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits claims in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits claims in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 7.5 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits Reinsured Risks during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits Reinsured Risks from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representativeReinsurer, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month Accounting Period (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIIIIX, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7IX. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 26 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representative, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIII, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits Reinsured Risks and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits claims in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits claims in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 2.5 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits Reinsured Risks during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits Reinsured Risks from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representativeReinsurer, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month Accounting Period (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIIIIX, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7IX. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 5 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representative, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIII, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.

Claims Settlement Account. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Claims Settlement Account”) in its own name for the payment of Benefits and shall authorize two signatories who shall be representatives of the Company and approved by the Reinsurer in writing to issue drafts in the name of the Reinsurer and showing the identity of the Company. The Reinsurer shall fund such account for payment of Benefits in accordance with the provisions of Section 4.1(b). Any interest earned on the Claims Settlement Account shall belong to the Reinsurer. The Claims Settlement Account shall be administered by the Company in a fiduciary capacity and shall be used solely by the Company to make payments of Benefits in accordance with the terms of this Agreement. (b) The Reinsurer shall deposit $2 47 million in the Claims Settlement Account on the Closing Date and shall thereafter fund the Claims Settlement Account on or before the fifth (5th) day of each month in amounts agreed by the Company and the Reinsurer from time to time in amounts sufficient to provide funds to the Company for the payment of Benefits during the next thirty (30) days, or such other amount as may be mutually agreed by the parties (such initial deposit amount and each minimum funding amount as agreed from time to time shall be referred to as a “Minimum Claims Settlement Amount”). In addition, the Reinsurer shall deposit to the Claims Settlement Account such additional amounts as may be required to keep the balance of such account above zero at all times. In consideration of the Reinsurer providing the Claims Settlement Account arrangement, the Company agrees that it shall apply funds in the Claims Settlement Account against the Reinsurer’s liability under this Agreement until such funds are exhausted. (c) The Company shall keep true and complete records, in accordance with Applicable Law and its record management practices in effect from time to time for the Company’s insurance business not covered by this Agreement, clearly recording the deposits in and withdrawals from the Claims Settlement Account, including records relating to the payment of Benefits from the Claim Settlement Account. The Company will make available to the Reinsurer or its designated representative, or shall furnish to the Reinsurer or its designated representative, upon request of the Reinsurer or its designated representative, copies of all such records. All copies furnished in the ordinary course of business shall be furnished by the Company at the Company’s cost, which shall be included in the Expense Allowance. Any extraordinary costs reasonably incurred by the Company in response to requests from the Reinsurer shall be reimbursed by the Reinsurer. (d) Within thirty (30) days after each calendar month (or more frequently as mutually agreed by the parties), the Company shall render a complete accounting to the Reinsurer detailing all transactions with respect to the Claims Settlement Account, in such form as agreed by the parties. (e) The parties agree to deliver to the depository bank such depository resolutions, signature cards, and other documents as may be requested of them in order to use such accounts at the depository bank in accordance with the provisions of this Article IV. (f) Upon a termination of this Agreement pursuant to Article VIII, the Reinsurer shall close the Claims Settlement Account and any closing balance therein shall be the property of the Reinsurer. The Company’s claims payment authority under this Agreement with respect to the Claims Settlement Account shall terminate immediately upon termination of this Agreement pursuant to Article VIII or the assumption by the Reinsurer of the administration of the Reinsured Contracts pursuant to Section 3.7. Upon termination of its authority to pay claims, the Company shall promptly return to the Reinsurer all unused check stock held by it in connection with this Agreement.