Daily Settlement Amounts. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “Daily Settlement Account”) in its own name for the payment of Daily Settlement Amounts and shall authorize at least two signatories who shall be representatives of the Company and approved by the Reinsurer to make deposits to, and withdrawals from, the Daily Settlement Account.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co), Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc)
Daily Settlement Amounts. (a) On the Closing Date, the Reinsurer shall establish a separate bank account (the “"Daily Settlement Account”") in its own name for the payment of Daily Settlement Amounts and shall authorize at least two signatories who shall be representatives of the Company and approved by the Reinsurer to make deposits to, and withdrawals from, the Daily Settlement Account.
Appears in 2 contracts
Samples: Reinsurance Agreement (Ge Capital Life Separate Account Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Iv)
