Insolvency of Reinsurer. In the event of the insolvency of the Reinsurer, all amounts due but not paid to the Reinsurer by the Cedant on such date under this Agreement, regardless of the date on which they became due, and all amounts which become due to the Reinsurer by the Cedant after that date under this Agreement may be retained by the Cedant and set off against the amounts due by the Reinsurer under this Agreement, whether they were due before the insolvency or became due after. The balance only, if any, shall be payable by the Cedant to the Reinsurer at the expiry of all liability under this Agreement.
Appears in 6 contracts
Samples: Coinsurance Agreement (Jackson Financial Inc.), Coinsurance Agreement (Athene Holding LTD), Mm Modified Coinsurance Agreement (Massachusetts Mutual Variable Life Separate Account I)
