Common use of CONTRACT LOANS Clause in Contracts

CONTRACT LOANS. (a) As further consideration for the indemnity reinsurance of the General Account Liabilities hereunder, Reinsurer shall, subject to the provisions of this Section 6.02, be entitled to all contract loan repayments (including both principal and interest) under the Coinsured Contracts, payable in accordance with Article V hereof. (b) Cedent shall, from and after the Recapture Date, have the right to retain all contract loan repayments under the Coinsured Contracts, and to direct Reinsurer to pay to Cedent all such contract loan repayment amounts collected by Reinsurer pursuant to the Administrative Services Agreement.

CONTRACT LOANS. (a) As further consideration for the indemnity reinsurance of the General Account Liabilities hereunder, Reinsurer shall, subject to the provisions of this Section 6.02, be entitled to all contract loan repayments (including both principal and interest) under the Coinsured Contracts, payable in accordance with Article V hereof. (b) Cedent shall, from and after the Recapture Date, have the right to retain or otherwise receive all contract loan repayments under the Coinsured Contracts, and to direct Reinsurer to pay to Cedent all such contract loan repayment amounts collected by Reinsurer pursuant to the Administrative Services Agreement.

CONTRACT LOANS. (a) As further consideration for the indemnity reinsurance of the General Account Liabilities hereunder, Reinsurer shall, subject to the provisions of this Section 6.02, be entitled to all contract loan repayments (including both principal and interest) under the Coinsured Contracts, payable in accordance with Article V hereof. (b) Cedent shall, from and after the Recapture Date, have the right to retain all contract loan repayments under the Coinsured Contracts, and to direct Reinsurer to pay to Cedent all such contract loan repayment amounts collected by Reinsurer pursuant to the Cedent Administrative Services Agreement.