Common use of Effect of Recapture Clause in Contracts

Effect of Recapture. Upon the receipt of the Company's notice to recapture pursuant to Section 9.01 hereof, and without further action by the Reinsurer, the Reinsurer will be deemed to have (i) ceded, transferred, and assigned to the Company all Policy Liabilities as of the date of recapture; (ii) transferred and assigned to the Company Qualifying Assets (including all Policy Loans) having an aggregate market value (or book value the case of Policy Loans) as of the date of recapture equal to the General Account Reserve established by the Company as of such date with respect to the Policies (without giving effect to the reinsurance under this Agreement), together with all interest, dividend, or other investment income accrued on such assets from the date of recapture until the date of the Company's receipt of such assets; and (iii) sold, transferred, and assigned to the Company any and all of the Reinsurer's right, title, and interest in and to all gross premiums, premium adjustments, amounts recoverable from reinsurers under the Ceded Reinsurance Agreements, and other similar payments and receivables that are or may be due or payable under the Policies. The Reinsurer shall cooperate with the Company in effecting any recapture of Policies pursuant to Section 9.01 hereof, including without limitation by promptly transferring amounts to the Company described in clause (ii) above and by executing and delivering such other documents, instruments and certificates effectuating the recapture described in this Article and reasonably requested by the Company.

Effect of Recapture. Upon the receipt of the Company's notice to recapture pursuant to Section 9.01 Article X(A) hereof, and without further action by the Reinsurer, the Reinsurer will be deemed to have (i) ceded, transferred, and assigned to the Company all Policy Liabilities as of the date of recaptureLiabilities; (ii) transferred and assigned to the Company Qualifying Assets (including all Policy Loansloans) having an aggregate market value (or book value in the case of Policy Loansloans) as of the date of recapture equal to the General Account Reserve aggregate general account reserve liability amount established by the Company as of such date with respect to the Policies (without giving effect to the reinsurance under this Agreement), together with all interest, dividend, or other investment income accrued on such assets from the date of the Reinsurer's receipt of such recapture notice until the date of the Company's receipt of such assets; and (iii) sold, transferred, and assigned to the Company any and all of the Reinsurer's right, title, and interest in and to all gross premiums, premium adjustments, amounts recoverable from reinsurers under the Ceded Reinsurance Agreementsreinsurers, and other similar payments and receivables that are or may be due or payable under the Policies. The Reinsurer shall cooperate with the Company in effecting any recapture of Policies pursuant to Section 9.01 Article X(A) hereof, including without limitation by promptly transferring amounts to the Company described in clause (ii) above and by executing and delivering such other documents, instruments and certificates effectuating the recapture described in this Article and reasonably requested by the Company.

Effect of Recapture. Upon the receipt of the Company's ------------------- notice to recapture pursuant to Section 9.01 hereof, and without further action by the Reinsurer, the Reinsurer will be deemed to have (i) ceded, transferred, and assigned to the Company all Policy Liabilities as of the date of recaptureLiabilities; (ii) transferred and assigned to the Company Qualifying Assets (including all Policy Loansloans) having an aggregate market value (or statutory book value the case of Policy Loans) as of the date of recapture equal to the aggregate General Account Reserve reserve liability amount established by the Company as of such date with respect to the Policies (without giving effect to the reinsurance under this Agreement), together with all interest, dividend, or other investment income accrued on such assets from the date of the Reinsurer's receipt of such recapture notice until the date of the Company's receipt of such assets; and (iii) sold, transferred, and assigned to the Company any and all of the Reinsurer's right, title, and interest in and to all gross premiums, premium adjustments, amounts recoverable from reinsurers under the Ceded Reinsurance Agreementsreinsurers, and other similar payments and receivables that are or may be due or payable under the Policies. The Reinsurer shall cooperate with the Company in effecting any recapture of Policies pursuant to Section 9.01 hereof, including without limitation by promptly transferring amounts to the Company described in clause (ii) above and by executing and delivering such other documents, instruments and certificates effectuating the recapture described in this Article and reasonably requested by the Company. Upon recapture, a recapture fee calculated in the manner set forth on Schedule 9.02 hereto, less the liquidated damages set forth in Section 9.04 below, shall ---- be payable to the Reinsurer by the Company.

Effect of Recapture. Upon the receipt of the Company's notice to recapture pursuant to Section 9.01 9.1 hereof, and without further action by the Reinsurer, the Reinsurer will be deemed to have (i) ceded, transferred, and assigned to the Company all Policy Liabilities as of the date of recaptureLiabilities; (ii) transferred and assigned shall transfer and assign to the Company Qualifying Assets (including all Policy Loansloans) having an aggregate market value (or book value in the case of Policy Loansloans) as of the date of recapture equal to the General Account Reserve aggregate general account reserve liability amount established by the Company as of such date with respect to the Policies (without giving effect to the reinsurance under this Agreement)) less any reserves retained by the Company as of such date relating to the Adjustments to General Account Reserves, together with all interest, dividend, or other investment income accrued on such assets from the date of the Reinsurer's receipt of such recapture notice until the date of the Company's receipt of such assets; and (iii) sold, transferred, and assigned to the Company any and all of the Reinsurer's right, title, and interest in and to all gross premiums, premium adjustments, amounts recoverable from reinsurers under the Ceded Reinsurance Agreementsreinsurers, and other similar payments and receivables that are or may be due or payable under the Policies. The Reinsurer shall cooperate with the Company in effecting any recapture of Policies pursuant to Section 9.01 9.1 hereof, including without limitation by promptly transferring amounts to the Company described in clause (ii) above and by executing and delivering such other documents, instruments and certificates effectuating the recapture described in this Article Section and reasonably requested by the Company.