Insolvency of a Party. TO THIS AGREEMENT A party to this Agreement will be deemed insolvent when it: (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 or takes advantage of 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.
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Samples: Reinsurance Agreement (Ids Life of New York Account 8), Reinsurance Agreement (Ids Life Variable Life Separate Account), Reinsurance Agreement (Ids Life Variable Life Separate Account)
Insolvency of a Party. TO THIS AGREEMENT to this Agreement A party to this Agreement will be deemed insolvent when it:
(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 or an arrangement with creditors or takes advantage of 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.
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Samples: Reinsurance Agreement (Ids Life of New York Account 8)
Insolvency of a Party. TO THIS AGREEMENT A party to this Agreement will be deemed insolvent when it: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 takes advantage of 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 ’s domicile.
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Samples: Automatic Yrt Reinsurance Agreement (Tiaa-Cref Life Separate Account Vli-1)
Insolvency of a Party. TO THIS AGREEMENT A party to this Agreement will be deemed insolvent when it:AGREEMENT
(a) a. applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory successor of its properties or assets; or;
(b) b. is adjudicated as bankrupt or insolvent; or;
(c) c. files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency or takes advantage of makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or
(d) 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.
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Samples: Reinsurance Agreement (Ameritas Variable Separate Account V)
Insolvency of a Party. TO THIS AGREEMENT A party to this Agreement will be deemed insolvent when it:
(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 or an arrangement with creditors or takes advantage of 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 1 contract
Samples: Automatic Yrt Reinsurance Agreement (Ids Life of New York Account 8)
Insolvency of a Party. TO THIS AGREEMENT to this Agreement A party to this Agreement will be deemed insolvent when it:
: (a) applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory successor of its properties or assets; or
or (b) is adjudicated as bankrupt or insolvent; or
or (c) files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency or takes advantage of makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or
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 ’s domicile.
Appears in 1 contract
Samples: Automatic Yrt Reinsurance Agreement (National Variable Life Insurance Account)
Insolvency of a Party. TO THIS AGREEMENT A party to this Agreement will be deemed insolvent when it:
(a) a. applies for or consents to the appointment of a receiver, rehabilitator, conservator, liquidator or statutory successor of its properties or assets; or
(b) b. is adjudicated as bankrupt or insolvent; or
(c) c. files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency or takes advantage of makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or
(d) 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 ’s domicile.
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