Insolvency of the Reinsurer. In the event of the insolvency, bankruptcy, receivership, rehabilitation or dissolution of the Reinsurer, the Reinsured may retain all or any portion of any amount then due or which may become due to the Reinsurer under this Agreement and use such amounts for the purposes of paying any and all liabilities of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured will pay the Reinsurer, its successor or statutory receiver, the balance of such amounts withheld as may remain.
Appears in 31 contracts
Samples: Automatic Coinsurance Agreement (Priac Variable Contract Account A), Automatic Coinsurance Agreement (Priac Variable Contract Account A), Priac Variable Contract Account A
Insolvency of the Reinsurer. In the event of the insolvency, bankruptcy, receivership, rehabilitation or dissolution of the Reinsurer, the Reinsured may retain all or any portion of any amount then due or which may become due to the Reinsurer under this Agreement and use such amounts for the purposes of paying any and all liabilities of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured will shall pay the Reinsurer, its successor or statutory receiver, the balance of such amounts withheld as may remain.
Appears in 9 contracts
Samples: Reinsurance Agreement (Separate Account Va C), Reinsurance Agreement (Separate Account Va X), Reinsurance Agreement (Separate Account Va B)
Insolvency of the Reinsurer. In the event of the insolvency, bankruptcy, receivership, rehabilitation or dissolution of the Reinsurer, the Reinsured you may retain all or any portion of any amount then due or which may become due to the Reinsurer under this Agreement and use such amounts for the purposes of paying any and all liabilities of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured will you shall pay the Reinsurer, its successor or statutory receiver, the balance of such amounts withheld as may remain.
Appears in 4 contracts
Samples: Country Investors Variable Annunity Account, Country Investors Variable Annunity Account, Country Investors Variable Life Account
Insolvency of the Reinsurer. In the event of the insolvency, bankruptcy, receivership, rehabilitation or dissolution of the Reinsurer, the Reinsured you may retain all or any portion of any amount then due or which may become due to the Reinsurer under this Agreement and use such amounts for the purposes of paying any and all liabilities of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured will pay the Reinsurer, its successor or statutory receiver, the balance of such amounts withheld as may remain.this
Appears in 2 contracts
Samples: Country Investors Variable Annunity Account, Country Investors Variable Annunity Account
Insolvency of the Reinsurer. In the event of the insolvency, bankruptcy, receivership, rehabilitation rehabilitation, or dissolution liquidation of the Reinsurer, the Reinsured Company may retain all or any portion of any amount then due due, or which may become due to the Reinsurer under this Agreement Agreement, and use such amounts for the purposes purpose of paying any and all liabilities liability of the Reinsurer incurred under this Agreement. When all such liability hereunder has been discharged, the Reinsured Company will pay to the Reinsurer, its successor or statutory receiver, the Reinsurer any balance of such amounts withheld as may remain.
Appears in 1 contract
Samples: Quota Share Reinsurance Agreement (Republic Financial Indemnity Group, Inc.)
