Defense Expense. The expense thus incurred by the Reinsurer shall be chargeable, subject to court approval, against the insolvent Company as part of the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.
Appears in 7 contracts
Samples: Coinsurance and Yearly Renewable Term Reinsurance Agreement (American Equity Investment Life Holding Co), Reinsurance Agreement (Phoenix Companies Inc/De), Aggregate Excess of Loss Reinsurance Agreement (Metlife Inc)
Defense Expense. The expense thus incurred by the Reinsurer shall be chargeable, subject to court approval, against the insolvent Company as part of 14 the expense of liquidation to the extent of a proportionate share of the benefit which may accrue to the Company solely as a result of the defense undertaken by the Reinsurer.
Appears in 1 contract
Samples: Aggregate Excess of Loss Reinsurance Agreement (Metlife Inc)
