Common use of Insolvency of the Ceding Company Clause in Contracts

Insolvency of the Ceding Company. (a) In the event of the insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company or its statutory liquidator, receiver or statutory successor on the basis of the liability of the Ceding Company under the Reinsured Contracts without diminution because of the insolvency of the Ceding Company.

Insolvency of the Ceding Company. (a) In the event of the insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company or its statutory liquidator, receiver or statutory successor on the basis of the liability of the Ceding Company under the Reinsured Contracts filed and allowed in the liquidation proceeding without diminution because of the insolvency of the Ceding Company.

Insolvency of the Ceding Company. (a) In the event of the insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company named insureds or its statutory liquidatortheir designees entitled to receive payment or cedents, receiver or statutory successor as applicable, under the Reinsured Contracts on the basis of the liability of the Ceding Company under the Reinsured Contracts Contracts, as approved by the liquidation court, without diminution because of the insolvency of the Ceding Company.

Insolvency of the Ceding Company. (a) In the event of the insolvency Insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company or its statutory liquidator, receiver or statutory successor on the basis of the liability Liability of the Ceding Company under the Reinsured Contracts without diminution because of any Insolvency of the insolvency Ceding Company, except to the extent this Agreement specifically provides for another payee of such reinsurance in the event of an Insolvency of the Ceding Company.

Insolvency of the Ceding Company. (a) In the event of the insolvency of the Ceding Company, all reinsurance made, ceded, renewed or otherwise becoming effective under this Agreement shall be payable by the Reinsurer directly to the Ceding Company Policyholders or its statutory liquidator, receiver or statutory successor other payees under the Reinsured Policies on the basis of the liability of the Ceding Company under the Reinsured Contracts Policies without diminution because of the insolvency of the Ceding Company.