Common use of Facility of Reinsurance Clause in Contracts

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.

Appears in 3 contracts

Samples: Reinsurance Agreement (Pruco Life Variable Universal Account), Reinsurance Agreement (Pruco Life Variable Universal Account), Yearly Renewable Term Reinsurance Agreement (Pruco Life Variable Universal Account)

AutoNDA by SimpleDocs

Facility of Reinsurance. THE COMPANY and THE REINSURER hereby acknowledge and agree that the Modco Agreement with between THE COMPANY and 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 details of whether to or from THE COMPANY, net coverage of all payments such policies under this YRT Agreement, regardless of whether to or from THE COMPANYAgreement are set-out in the Schedules.

Appears in 1 contract

Samples: Yearly Renewable Term Reinsurance Agreement (Pruco Life Variable Universal Account)

AutoNDA by SimpleDocs

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 Y-MPVUL-2005-GEN-M-PLAZ 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.

Appears in 1 contract

Samples: Reinsurance Agreement (Pruco Life Variable Universal Account)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!