INSOLVENCY OF A PARTY TO THIS. AGREEMENT a. applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory successor of its properties or assets; b. is adjudicated as bankrupt or insolvent; c. files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency or makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or d. becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of the jurisdiction of the party’s domicile.
Appears in 3 contracts
Samples: Reinsurance Agreement (Farmers Variable Life Separate Account A), Reinsurance Agreement (COLI VUL-4 Series Account of First Great-West Life & Annuity Insurance CO), Reinsurance Agreement (Farmers Variable Life Separate Account A)
INSOLVENCY OF A PARTY TO THIS. AGREEMENT
a. applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory successor of its properties or assets;; or
b. is adjudicated as bankrupt or insolvent;; or
c. files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency or makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or
d. becomes the subject of an order to rehabilitate or an order to liquidate as defined by the insurance code of the jurisdiction of the party’s domicile.
Appears in 3 contracts
Samples: Reinsurance Agreement (Symetra Separate Account Sl), Reinsurance Agreement (Penn Mutual Variable Life Account I), Reinsurance Agreement (Thrivent Variable Life Account I)
