Duration of Agreement & Termination. 1. This Agreement shall be unlimited as to its duration, but may be terminated at any time, for new reinsurances only, by either party giving thirty (30) days notice of termination in writing to the other. The Pool shall continue to accept reinsurance during the thirty (30) days aforesaid and shall remain liable on all reinsurance already placed in force under the terms of this Agreement until such contracts are terminated between the original insured and the Ceding Company. 2. In the event of non-payment of any amounts due hereunder by either party, except as provided by Article XII Errors and Omissions, the other party shall have the right to cancel all reinsurance in force under this Agreement by giving thirty (30) days written notice.
Appears in 6 contracts
Samples: Automatic Reinsurance Agreement (American National Variable Annuity Separate Account), Automatic Reinsurance Agreement (American National Variable Life Separate Account), Automatic Reinsurance Agreement (American National Variable Life Separate Account)
