Common use of DAC TAX REGULATIONS Clause in Contracts

DAC TAX REGULATIONS. The CEDING COMPANY and the REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (“Code”). 1. The term “party” will refer to either the CEDING COMPANY or the REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT without regard to the general deductions limitation of Code Section 848(c)(1).

DAC TAX REGULATIONS. The CEDING COMPANY and the REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (the “Code”). 1. The term “party” will refer to either the CEDING COMPANY or the REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT without regard to the general deductions limitation of Code Section 848(c)(1).

DAC TAX REGULATIONS. The CEDING COMPANY and the REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (“Code”)amended. 1. The term “party” will refer to either the CEDING COMPANY or the REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT Agreement without regard to the general deductions limitation of Code IRS Section 848(c)(1).

DAC TAX REGULATIONS. The CEDING COMPANY and the REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (“Code”)amended. 1. The term “party” will refer to either the CEDING COMPANY or the REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “net consideration” will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT without regard to the general deductions limitation of Code Internal Revenue Service (“IRS”) Section 848(c)(1).

DAC TAX REGULATIONS. The CEDING COMPANY and the REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (“Code”)amended. 1. The term “"party” " will refer to either the CEDING COMPANY or the REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “"net consideration” " will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT Agreement without regard to the general deductions limitation of Code IRS Section 848(c)(1).

DAC TAX REGULATIONS. The CEDING COMPANY and the THE REINSURER hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended (“Code”)amended. 1. The term “"party” " will refer to either the CEDING COMPANY or the THE REINSURER as appropriate. 2. The terms used in this Article are defined by reference to Treasury Regulation Section 1.848-2 in effect as of December 29, 1992. The term “"net consideration” " will refer to net consideration as defined in Treasury Regulation Section 1.848-2(f). 3. The party with the net positive consideration for this AGREEMENT Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this AGREEMENT Agreement without regard to the general deductions limitation of Code IRS Section 848(c)(1).