Fundamental Agreement 1. It is hereby declared and agreed that the General Conditions and the Special Conditions constitute the entire Treaty. These two documents shall be read in conjunction with each other. If any discrepancy arises between the General Conditions and the Special Conditions, the Special Conditions shall prevail. 2. The subject of this Treaty is the reinsurance of all insurance business as set forth in the Special Conditions (the “Reinsured Policies”). The Cedant agrees to cede, and the Reinsurer agrees to reinsure, the Reinsured Policies subject to all of this Treaty’s provisions, as may be amended from time to time upon the parties’ mutual agreement. 3. Any policies or benefits acquired by the Cedant through reinsurance or the purchase of another company's policies or through merger with or acquisition of another company shall not be automatically covered under the terms of this Treaty. 4. This Treaty is an indemnity reinsurance agreement solely between the Cedant and the Reinsurer. The acceptance of reinsurance under this Treaty shall not create any legal right or relationship whatsoever between the Reinsurer and any policyholder, insured, beneficiary or any other party under any policies or group certificates issued by the Cedant that may be reinsured under this Treaty. The Cedant shall be, and shall remain, solely liable to the policyholder, the insured, the beneficiary and any other party under such policies or group certificates (as the case may be). 5. This Treaty represents the entire agreement between the Cedant and the Reinsurer with respect to the subject matter hereof and supersedes any prior oral or written agreements, negotiations, discussions and understandings between the parties. 6. The parties to this Treaty undertake to observe the principle of utmost good faith in respect of all matters relating hereto and shall abide by their respective obligations contained herein.
