Initial MODCO Reserve Adjustment. As additional consideration for the reinsurance by the Reinsurer of the Separate Account Liabilities under this Agreement, on the Closing Date, the Company shall transfer to the Reinsurer an amount equal to the net of (a) minus (b) where (a) is an amount equal to the Separate Account Liabilities as of the Inception Date and (b) is the Initial MODCO Reserve Adjustment. The “Initial MODCO Reserve Adjustment” shall be an amount equal to the Separate Account Liabilities as of the Inception Date.
Appears in 3 contracts
Samples: Reinsurance Agreement (Ge Life & Annuity Assurance Co), Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc)
Initial MODCO Reserve Adjustment. As additional consideration for the reinsurance by the Reinsurer of the Separate Account Liabilities under this Agreement, on the Closing Date, the Company shall transfer to the Reinsurer an amount equal to the net of (a) minus (b) where (a) is an amount equal to the Separate Account Liabilities as of the Inception Date and (b) is the Initial MODCO Reserve Adjustment. The “"Initial MODCO Reserve Adjustment” " shall be an amount equal to the Separate Account Liabilities as of the Inception Date.
Appears in 2 contracts
Samples: Reinsurance Agreement (Ge Capital Life Separate Account Ii), Reinsurance Agreement (Ge Life & Annuity Assurance Co Iv)
