Guaranty Fund Assessments. Except as provided in Section 4.2, the Reinsurer shall not reimburse the Ceding Company for any guaranty fund assessments arising on account of premiums on the Reinsured Policies.
Guaranty Fund Assessments. The Reinsurer shall reimburse the Ceding Company for a Quota Share of any guaranty fund assessments paid by the Ceding Company with respect to any Covered Insurance Policy (the “Guaranty Fund Assessments”) in accordance with Section 3.2. Any Guaranty Fund Assessments paid by the Ceding Company shall be reflected in the Settlement Statement for the applicable Accounting Period. To the extent there is any recovery of Guaranty Fund Assessments paid by the Reinsurer, the Ceding Company shall promptly pay the Quota Share of such recovery to the Reinsurer.
Guaranty Fund Assessments. The Company shall retain the obligation to pay, without any right to reimbursement from Reinsurer, all amounts arising from participation in any guaranty fund, insolvency fund, plan, pool, association or similar organization that are assessed with respect to the Existing Reinsured Contracts as a result of Premiums paid to the Company prior to the date hereof or on account of the Premiums Receivable. Reinsurer shall reimburse the Company for any and all such assessments with respect to the Reinsured Contracts as a result of Premiums paid on or after the date hereof, except to the extent included in the Premiums Receivable.
Guaranty Fund Assessments. Each of the Company and the Insurance Subsidiaries has fully reserved in its respective Statutory Financial Statements as of and for the nine months ended September 30, 1996 for any present or future guaranty fund assessments, up to the amount reserved for in accordance with the calculations of NOLHGA, relating to any rehabilitation, conservatorship or insolvency known to exist as of the date hereof, as reported by the most recent NOLHGA survey dated April 1, 1996.
Guaranty Fund Assessments. 22 SECTION 3.21. Actuarial Analysis...........................................22 SECTION 3.22.
Guaranty Fund Assessments. The Targets have (i) timely paid all guaranty association assessments that are due, or claimed or asserted by any state guaranty association or by any insurance regulatory authority to be due and (ii) provided for all such assessments in the statutory statements to the extent necessary to be in conformity with SAP.
Guaranty Fund Assessments. 8 COINSURANCE REINSURANCE AGREEMENT
Guaranty Fund Assessments. The Underwriting Companies have (a) timely paid all guaranty association assessments that are due, or claimed or asserted by any state guaranty association or by any insurance regulatory authority to be due and (b) provided for all such assessments in the Statutory Statements to the extent necessary to be in conformity with SAP.
Guaranty Fund Assessments. From and after the Effective Time, the Administrator shall have the authority and responsibility to manage, contest, pay and/or settle any guaranty fund or similar assessment arising from the Policies.
Guaranty Fund Assessments. (a) Purchaser shall pay or reimburse Seller for 100% of all guaranty fund assessments (or any other assessment of a state entity formed to protect policyholders against failure of an insurer to perform its contractual obligations due to impairment or insolvency, including but not limited to assessments of the Colorado Life and Health Insurance Protection Association and the Wisconsin Insurance Security Fund) ("Guaranty Fund Assessments") payable by Seller and included in Other Liabilities.
(b) On or before the Closing Date, Seller shall deliver to Purchaser a report of annuity premiums written by state as reported to the National Organization of Life & Health Guaranty Associates ("NOLHGA") for 1993, 1994 and 1995. Seller shall deliver to Purchaser copies of reports for 1996 and each subsequent year when filed with NOLHGA until Purchaser determines that it no longer needs such reports. With respect to each report of premiums, Seller shall prepare a schedule allocating premiums between the Annuity Contracts and other annuities issued by Seller on a state-by-state basis for the time period covered by the report of premiums and Seller shall deliver same to Purchaser (prior to the Closing Date, with respect to the reports for 1993, 1994 and 1995). Seller shall deliver to Purchaser a copy of any notice (including but not limited to a notice of assessment) that Seller receives relating to any insolvency which occurs on or after the Closing Date.
(c) With respect to each notice of assessment by the fund of a state delivered to Purchaser by Seller, Seller shall prepare a schedule showing the allocation of such assessment between the Seller and the Purchaser. Subject to Section 2.2(d) below, Purchaser shall pay its share of such assessment within 30 days after its receipt of the notice of assessment and the schedules contemplated by this paragraph.
(d) Each notice and schedule delivered to Purchaser pursuant to Section 2.2(c) hereof shall be binding on Purchaser unless Purchaser notifies Seller of any disagreement, specifying in reasonable detail the nature and extent of the disagreement. If Purchaser and Seller are unable to resolve any disagreement with respect to any assessment within 30 days after Seller receives a timely notice of disagreement, the items of disagreement alone shall be referred for final determination to the U.S. national office of Price Waterhouse or, if such firm is unable or unwilling to make such final determination, to such other independen...
