Credit for Reinsurance. (a) The Reinsurer shall, at its own expense, take all steps necessary (including the posting of letters of credit or other acceptable security) to enable the Company to receive and maintain full credit for the reinsurance provided by this Agreement in any jurisdiction applicable throughout the entire term of this Agreement. (b) It is understood and agreed that any term or condition required by Applicable Law to be included in this Agreement for the Company to receive statutory credit for the reinsurance provided by this Agreement shall be deemed to be incorporated in this Agreement by reference. Furthermore, the Reinsurer and the Company agree to amend this Agreement, or enter into other agreements or execute additional documents as needed to comply with the credit for reinsurance laws and regulations and/or the requirements of Iowa Insurance Division.
Appears in 16 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance Agreement (MEMBERS Life Insurance Co)
