Common use of DAC TAX Clause in Contracts

DAC TAX. The ceding company and The Guardian hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "party" will refer to either the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 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 Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service. 5. The ceding company will submit a schedule to The Guardian by May 1 of each year of its calculation of the net consideration for the preceding calendar year. This schedule of calculations will be accompanied by a statement stating that the ceding company report such net consideration in its tax return for the preceding calendar year. 6. The Guardian may contest such calculation by providing an alternative calculation to the ceding company by June 1. If The Guardian does not so notify the ceding company, the ceding company will report the net consideration as determined by the ceding company in the ceding company's tax return for the previous calendar year. 7. If The Guardian contests the ceding company's calculation of the net considerations, the parties will act in good faith to reach an agreement as to the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount of the net consideration, each party shall report such amount in their respective tax returns for the previous calendar year. The Guardian and the ceding company represent and warrant that they are subject to U.S. taxation under Subchapter L of Chapter 1 of the Internal Revenue Code.

DAC TAX. The ceding company and The Guardian hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "“party" ” will refer to either the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 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 Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service. 5. The ceding company will submit a schedule to The Guardian by May 1 of each year of its calculation of the net consideration for the preceding calendar year. This schedule of calculations will be accompanied by a statement stating that the ceding company report such net consideration in its tax return for the preceding calendar year. 6. The Guardian may contest such calculation by providing an alternative calculation to the ceding company by June 1. If The Guardian does not so notify the ceding company, the ceding company will report the net consideration as determined by the ceding company in the ceding company's ’s tax return for the previous calendar year. 7. If The Guardian contests the ceding company's ’s calculation of the net considerations, the parties will act in good faith to reach an agreement as to the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount of the net consideration, each party shall report such amount in their respective tax returns for the previous calendar year. The Guardian and the ceding company represent and warrant that they are subject to U.S. taxation under Subchapter L of Chapter 1 of the Internal Revenue Code.

DAC TAX. 1. The ceding company and The Guardian hereby agree term “party” will refer to either the following pursuant CEDING COMPANY or the REINSURER as appropriate. 2. Pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "party" will refer to either , the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 3. The party with the net positive consideration for this the Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this agreement the Agreement without regard to the general deductions limitation of Section 848(c)(1). 43. Both The parties agree to exchange information pertaining to the amount of net consideration under this agreement as determined for the Agreement each year to ensure consistency or as may otherwise be required by the Internal Revenue Service. 54. The ceding company will submit a schedule to The Guardian by May By April 1 of each year of tax year, the party administering the business under the Agreement shall submit to the other party its calculation of the net consideration for the preceding calendar year. This schedule of calculations will calculation shall be accompanied by a statement stating signed by an officer of the submitting party declaring that the ceding company this party will report such net consideration in its tax return for the preceding previous calendar year. 65. The Guardian other party may contest such said calculation by by, within thirty (30) days of its receipt of same, providing to the submitting party in writing an alternative calculation to the ceding company by June 1calculation. If The Guardian the other party does not so notify the ceding companysubmitting party, the ceding company will other party shall report in its tax return for the previous year the net consideration as determined by the ceding company in the ceding company's tax return for the previous calendar yearsubmitting party. 76. If The Guardian the other party contests the ceding company's calculation of the net considerationssaid calculation, the parties will shall act in good faith to reach an agreement as to on the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount net consideration within thirty (30) days of the date that the other party provides its alternative calculation. Once the parties agree with the net considerationconsideration amount, each party shall report such amount in their respective tax returns for the previous calendar year. 7. The Guardian and the ceding company represent and warrant parties each represents that they are it is subject to U.S. taxation under Subchapter subchapter L or subpart F of part III of subchapter N of Chapter 1 of the Internal Revenue CodeCode of 1986, as amended. The terms used herein are defined by reference to Regulation Section 1.848-2 in effect as of December 29, 1992.

DAC TAX. The ceding company and The Guardian hereby agree to the following pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "“party" ” will refer to either the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 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 Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service. 5. The ceding company will submit a schedule to The Guardian by May 1 of each year of its calculation of the net consideration for the preceding calendar year. This schedule of calculations will be accompanied by a statement stating that the ceding company report such net consideration in its tax return for the preceding calendar year. 6. The Guardian may contest such calculation by providing an alternative calculation to the ceding company by June 1. If The Guardian does not so notify the ceding company, the ceding company will report the net consideration as determined by the ceding company in the ceding company's ’s tax return for the previous calendar year. 7. If The Guardian contests the ceding company's ’s calculation of the net considerations, the parties will act in good faith to reach an agreement as to the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount of the net consideration, each party shall report such amount in their respective tax returns for the previous calendar year. The Guardian and the ceding company represent and warrant that they are subject to U.S. taxation under Subchapter L of Chapter 1 of the Internal Revenue Code. Article XVII: Oversights Error and omissions of an accidental or unintentional nature shall be corrected and both parties shall be restored to the positions they would have occupied had no such errors or omissions occurred.

DAC TAX. The ceding company and The Guardian hereby agree to the following pursuant 1. Pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "party" will refer to either , the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 3. The party Party with the net positive consideration for this 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 Section 848(c)(1848(c)(l). 42. Both The parties agree to exchange information pertaining to the amount of net consideration under as determined for this agreement Agreement each year to ensure consistency or as may otherwise be required by the Internal Revenue Service. 53. The ceding company will submit a schedule to The Guardian by May By April 1 of each year of tax year, the party administering the business under this Agreement shall submit to the other party its calculation of the net consideration for the preceding calendar year. This schedule of calculations will calculation shall be accompanied by a statement stating signed by an officer of the submitting party declaring that the ceding company this party will report such net consideration in its tax return for the preceding previous calendar year. 64. The Guardian other party may contest such said calculation by by, within thirty (30) days of its receipt of same, providing to the submitting party in writing an alternative calculation to the ceding company by June 1calculation. If The Guardian the other party does not so notify the ceding companysubmitting Party, the ceding company will other party shall report in its tax return for the previous year the net consideration as determined by the ceding company in the ceding company's tax return for the previous calendar yearsubmitting Party. 75. If The Guardian the other party contests the ceding company's calculation of the net considerationssaid calculation, the parties will shall act in good faith to reach an agreement as to on the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount net consideration within thirty (30) days of the date that the other party provides its alternative calculation. Once the parties agree with the net considerationconsideration amount, each party shall report such amount in their respective tax returns for the previous calendar year. 6. The Guardian and the ceding company represent and warrant parties each represents that they are it is subject to U.S. taxation under Subchapter subchapter L or subpart F of part III of subchapter N of Chapter 1 of the Internal Revenue Code.Code of 1986, as amended. The terms used herein are defined by reference to Regulation Section 1.848-2 in effect as of December 29, 1992. ARTICLE X - CHANGES

DAC TAX. 1. The ceding company and The Guardian hereby agree term "party" will refer to either the following pursuant CEDING COMPANY or the REINSURER as appropriate. 2. Pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "party" will refer to either , the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 3. The party with the net positive consideration for this the Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this agreement the Agreement without regard to the general deductions limitation of Section 848(c)(1). 43. Both The parties agree to exchange information pertaining to the amount of net consideration under this agreement as determined for the Agreement each year to ensure consistency or as may otherwise be required by the Internal Revenue Service. 54. The ceding company will submit a schedule to The Guardian by By May 1 of each year of tax year, the party administering the business under the Agreement shall submit to the other party its calculation of the net consideration for the preceding calendar year. This schedule of calculations will calculation shall be accompanied by a statement stating signed by an officer of the submitting party declaring that the ceding company this party will report such net consideration in its tax return for the preceding previous calendar year. 65. The Guardian other party may contest such said calculation by by, within thirty (30) days of its receipt of same, providing to the submitting party in writing an alternative calculation to the ceding company by June 1calculation. If The Guardian the other party does not so notify the ceding companysubmitting party, the ceding company will other party shall report in its tax return for the previous year the net consideration as determined by the ceding company in the ceding company's tax return for the previous calendar yearsubmitting party. 76. If The Guardian the other party contests the ceding company's calculation of the net considerationssaid calculation, the parties will shall act in good faith to reach an agreement as to on the correct amount by July 1. When the ceding company and The Guardian reach agreement on an amount net consideration within thirty (30) days of the date that the other party provides its alternative calculation. Once the parties agree with the net considerationconsideration amount, each party shall report such amount in their respective tax returns for the previous calendar year. 7. The Guardian and the ceding company represent and warrant parties each represents that they are it is subject to U.S. taxation under Subchapter subchapter L or subpart F of part III of subchapter N of Chapter 1 I of the Internal Revenue CodeCode of 1986, as amended. The terms used herein are defined by reference to Regulation Section 1.848-2 in effect as of December 29, 1992.

DAC TAX. The ceding company and The Guardian hereby agree to the following pursuant 1. Pursuant to Section 1.848-2(g)(8) of the Income Tax Regulation Regulations issued December 29, 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1995 and for all subsequent taxable years for which this agreement remains in effect. 1. The term "party" will refer to either , the ceding company or The Guardian as appropriate. 2. The terms used in this Article are defined by reference to Regulation 1.848-2 in effect December 1992. 3. The party Party with the net positive consideration for this the Agreement for each taxable year will capitalize specified policy acquisition expenses with respect to this agreement the Agreement without regard to the general deductions limitation of Section 848(c)(1). 42. Both The parties agree to exchange information pertaining to the amount of net consideration under this agreement as determined for the Agreement each year to ensure consistency or as may otherwise be required by the Internal Revenue Service. 53. The ceding company will submit a schedule to The Guardian by May 1 By April I of each year of tax year, the party administering the business under the Agreement shall submit to the other party its calculation of the net consideration for the preceding calendar year. This schedule of calculations will calculation shall be accompanied by a statement stating signed by an officer of the submitting party declaring that the ceding company this party will report such net consideration in its tax return for the preceding previous calendar year. 64. The Guardian other party may contest such said calculation by by, within thirty (30) days of its receipt of same, providing to the submitting party in writing an alternative calculation to the ceding company by June 1calculation. If The Guardian the other party does not so notify the ceding companysubmitting Party, the ceding company will other party shall report in its tax return for the previous year the net consideration as determined by the ceding company in the ceding company's tax return for the previous calendar yearsubmitting Party. 75. If The Guardian the other party contests the ceding company's calculation of the net considerationssaid calculation, the parties will shall act in good faith to reach an agreement as to on the correct amount by July 1net consideration within thirty (30) days of the date that the other party provides its alternative calculation. When If the ceding company and The Guardian parties reach an agreement on an amount of the a net considerationconsideration amount, each party shall report such amount in their respective tax returns for the previous calendar year. 6. The Guardian and the ceding company represent and warrant parties each represents that they are it is subject to U.S. taxation under Subchapter subchapter L or subpart F of part III of subchapter N of Chapter 1 l of the Internal Revenue CodeCode of 1986, as amended. The terms used herein are defined by reference to Regulation Section 1.848-2 in effect as of December 29, 1992.