Facility of Reinsurance. THE COMPANY and THE REINSURER hereby acknowledge and agree that the Modco Agreement with M Life Insurance Company described in the Preamble that covers the same policies covered under this YRT Agreement will be subordinate to this YRT Agreement. The parties to the Modco Agreement agree to make all payments under the Modco Agreement, regardless of whether to or from THE COMPANY, net of all payments under this YRT Agreement, regardless of whether to or from THE COMPANY.
Facility of Reinsurance. 21 35. REINSURANCE ADMINISTRATION........................................................................... 22 36. NONWAIVER............................................................................................ 22 37. COUNTERPARTS......................................................................................... 22
Facility of Reinsurance. The Company shall not enter into any other reinsurance agreements, including assumption reinsurance, that would cover the Policies, without the express written approval of the Reinsurer, except that the Company may coinsure the Company's Portion of the Policies without the Reinsurer's permission provided such coinsurance does not diminish the Company's obligations and liabilities under this Agreement.
Facility of Reinsurance. The Company and the Reinsurer hereby acknowledge and agree that the coinsurance cession of the Policies will not alter certain third party reinsurance agreements that may already be in effect on these Policies. Experience refunds paid to the Company as part of any other reinsurance agreement in force on the Policies while this Agreement is in effect shall be paid to the Reinsurer as part of the settlements hereunder. Furthermore, the Company shall not enter into any other reinsurance agreements that would cover the Policies, without the express written approval of the Reinsurer. The Reinsurer will not unreasonably withhold its approval as contemplated within this paragraph.
Facility of Reinsurance. After the Effective Date, the Ceding Company shall not cede any liabilities to reinsurers with respect to the Policies without the express written approval of the Reinsurer. The Reinsurer will not unreasonably withhold its approval as contemplated within this Section. The Reinsurer agrees that no retrocessions of the Policies shall be made to any third party without the express written consent of the Ceding Company, provided, however, that the Reinsurer may, at any time, with prior written notice of the Ceding Company and subject to applicable notice and other regulatory requirements, retrocede on a coinsurance basis, any or all of the Policies to a Controlled Affiliate.
Facility of Reinsurance. The company and the Reinsurer agree that the reinsurance ceded shall exclude 100% of the mortality risk in excess of $400,000 on such 50% quota (“excess mortality risk”). The Company agrees to obtain and maintain yearly renewable term reinsurance on such excess mortality risk for the benefit of the Reinsurer from a third party reinsurance company provided that:
(a) The Company shall take account of all the costs and benefits of such third party reinsurance in its reporting responsibilities as set forth elsewhere in this agreement.
(b) The Reinsurer shall administer the third party reinsurance and shall periodically report to the Company all premiums and benefits transacted.
(c) If such third party reinsurance transaction involves the payment of an experience refund payable on the reinsurance ceded, Company agrees to credit such experience refund payment to the benefit of the Reinsurer.
(d) The Company agrees to permit the Reinsurer to negotiate the terms of such third party reinsurance.
(e) The Company agrees not to amend the terms of such third party reinsurance without the consent of the Reinsurer. . SCHEDULE B QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS FROM CEDING COMPANY TO REINSURER Reporting Quarter: Calendar Year: Date Report Completed:
1. Reinsurance Premiums (Article II, Paragraph 1)
2. Net Facility of Reinsurance (Schedule A)
3. Benefit Payments (Article IV)
a. Claims
b. Cash Surrender Values Benefit Payments = a + b
Facility of Reinsurance. The Company and the Reinsurer hereby acknowledge and agree that this cession of the portion of the policies reinsured hereunder will not alter certain third party reinsurance agreements that may already be in effect on such policies reinsured hereunder. Experience refunds paid to the Company as part of any other reinsurance agreement in force on the portion of the policies reinsured hereunder while this Agreement is in effect shall be paid to the Reinsurer as part of the settlements hereunder as an extraordinary write-in item. Furthermore, the Company shall not enter into any other reinsurance agreements that would cover the policies reinsured hereunder including any portion of those policies even if not reinsured hereunder, without the express written approval of the Reinsurer. The Reinsurer will not unreasonably withhold its approval as contemplated within this paragraph.
Facility of Reinsurance. The Ceding Company has entered into certain ----------------------- reinsurance treaties with respect to the Policies reinsured hereunder and described in Schedule A. Under those reinsurance treaties, the Ceding Company is indemnified for Claims in excess of the Ceding Company's retention on any one policy. The Claims paid under this Agreement will be net of the benefits paid under those reinsurance treaties and in no event will exceed, as to any one policy, the Ceding Company's retention with respect to such policy as of the effective date of this Agreement times the quota share percentage assumed by the Reinsurer as described in Schedule A.
Facility of Reinsurance. THE COMPANY and THE REINSURER hereby acknowledge and agree that the ceding of the portion of the policies reinsured under this Agreement will not alter reinsurance agreements with THIRD-PARTY REINSURERS that may already be in effect or placed in effect while this Agreement is in force on the policies reinsured under this Agreement. Such THIRD-PARTY REINSURANCE is permitted because THE REINSURER would require its own reinsurance protection on the portion of the policies reinsured hereunder, had THE COMPANY not already obtained such reinsurance. Therefore, the parties agree to make the reinsurance under this Agreement subordinate to such inforce THIRD-PARTY REINSURANCE and to make all payments under this Agreement, regardless of whether to or from THE COMPANY, net of all payments under such THIRD-PARTY REINSURANCE, regardless of whether to or from THE COMPANY. These payments would include experience refunds paid to THE COMPANY under such THIRD-PARTY REINSURANCE. Such experience refunds shall be paid by THE COMPANY to THE REINSURER as part of the settlements under this Agreement as a return of premium as contemplated by Section 11 a.
Facility of Reinsurance. The Ceding Company has entered into certain YRT reinsurance treaties with respect to the policies reinsured hereunder and described in Schedule A. The death benefits paid under this Agreement will be net of the death benefits paid under those reinsurance treaties and in no event will exceed the product of the sum of $3 million, plus the associated Statutory Reinsured Reserve released, on any single life times the corresponding quota share percentage assumed by the Reinsurer as described in Schedule A.
