Common use of Insurance Contract Changes Clause in Contracts

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s capacity as Administrator and to the extent permitted under the terms of the Administrative Services Agreement, the Ceding Company shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance Agreement, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance Agreement, or by any Governmental Authority or Applicable Law or (b) enter into any settlement of any Covered Insurance Policy or Existing Reinsurance Agreement. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting in its capacity as Administrator or at the direction of the Reinsurer, or (b) pursuant to the terms of any Covered Insurance Policies or by reason of the requirements of any Governmental Authority or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities resulting from such changes. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority or Applicable Law, the Administrator determines not to implement, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such change under applicable administrative procedures.

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s its capacity as Administrator and to the extent permitted under the terms of the Administrative Services AgreementAdministrator, the Ceding Company Company, on its own initiative, shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance AgreementPolicy, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance AgreementPolicies, or by any Governmental Authority Body or Applicable Law or (b) enter into any settlement of any Covered Insurance Policy or Existing Reinsurance AgreementLaw. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting Reinsurer, including in its capacity as Administrator or at the direction of the ReinsurerAdministrator, or (b) pursuant to the terms of any Covered Insurance Policies or by reason of the requirements of any Governmental Authority Body or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities liabilities and obligations resulting from such changes and shall fully indemnify the Ceding Company and hold the Ceding Company harmless with respect to such changes, in each case, subject to the terms and conditions of this Agreement. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority Body or Applicable Law, the Administrator determines Reinsurer is not to implementimplementing, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required proposed change and afford the Reinsurer, at the Reinsurer’s 's expense, the opportunity, to the extent practicable, to object to such change under applicable administrative procedures.procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Loss so suffered by the Ceding Company in accordance with Article X.

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s 's capacity as Administrator and to the extent permitted under the terms of the Administrative Services AgreementAdministrator, the Ceding Company Company, on its own initiative, shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance AgreementPolicy, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance AgreementPolicies, or by any Governmental Authority Body or Applicable Law Law. Furthermore, the Ceding Company shall not object to or (b) enter into hinder any settlement efforts by the Reinsurer to effectuate any changes to any Covered Insurance Policy, including increases to any fees or charges thereunder, as long as such changes are not contrary to the terms and conditions of any such Covered Insurance Policy or Existing Reinsurance Agreementthis Agreement or in violation of any Applicable Law or Governmental Order. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting in its capacity as Administrator or at the direction of the Reinsurer, or (b) pursuant to the terms of any Covered Insurance Policies or 13 <Page> required by reason of the requirements of any Governmental Authority Body or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities and obligations resulting from such changes and shall fully indemnify the Ceding Company and hold the Ceding Company harmless with respect to such changes. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority Body or Applicable Law, the Administrator determines is not to implementimplementing, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required proposed change and afford the Reinsurer, at the Reinsurer’s 's expense, the opportunity, to the extent practicable, opportunity to object to such change under applicable administrative procedures.procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Loss so suffered by the Ceding Company in accordance with Article 14 <Page> VIII. Likewise, in the event the Ceding Company refuses to comply with any request by the Reinsurer or the Administrator to implement a change or hinders Reinsurer's or Administrator's efforts to implement a change and such change is not contrary to the terms and conditions of the applicable Covered Insurance Policy or this Agreement or in violation of any Applicable Law or Governmental Order, the Ceding Company shall indemnify and hold the Reinsurer harmless for any Loss so suffered by the Reinsurer in accordance with Article VIII. SECTION 2.6

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer Administrator (or its duly appointed assignee or delegatee) ), or any successor Administrator acting on behalf at the direction of the Ceding Company in the Reinsurer’s capacity as Administrator and to the extent permitted under the terms Reinsurer after a termination of the Administrative Services Agreement, the Ceding Company Company, on its own initiative, shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance AgreementReinsured Contract, other than for any change required by the terms of such Reinsured Contract, any Covered Insurance Policy Governmental Order or Existing Reinsurance AgreementApplicable Law or required by any Governmental Authority. Furthermore, the Ceding Company shall not object to or hinder any efforts by the Reinsurer or the Administrator to effectuate any changes to any Reinsured Contract, including increases to any fees or charges thereunder, as long as such changes (i) are not contrary to the terms and conditions of such Reinsured Contract or this Agreement or in violation of any Applicable Law, Governmental Order or any requirement of any Governmental Authority or Applicable Law (ii) do not, and would not reasonably be expected to adversely affect the Ceding Company in a material manner economically or (b) enter into any settlement of any Covered Insurance Policy or Existing Reinsurance otherwise, after accounting for the benefits expected to be received by the Ceding Company under this Agreement and the Administrative Services Agreement. If the Reinsured Liabilities under any of the Covered Insurance Policies Reinsured Contracts are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements Reinsured Contracts effected by the Reinsurer acting in its capacity as Administrator or at the direction of the Reinsurer, or (b) pursuant to the terms of any Covered Insurance Policies Reinsured Contract or required by reason of the requirements of any Governmental Authority or required by Applicable LawLaw or any Governmental Order, or (c) because the failure to make such change would, or would reasonably be expected to adversely affect the Ceding Company in a material manner economically or otherwise, after accounting for the benefits expected to be received by the Ceding Company under this Agreement and the Administrative Services Agreement, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, 2.1 and assume one hundred percent (100%) of all Reinsured Liabilities liabilities resulting from such changes. With respect to any change that, despite being required by the terms of any Covered Insurance PoliciesReinsured Contracts, any Governmental Order or Applicable Law or required any Governmental Authority or Applicable Lawthat would, the Administrator determines not or would reasonably be expected to implement, adversely affect the Ceding Company shallin a material manner economically or otherwise, to after accounting for the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such change under applicable administrative procedures.benefits

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s its capacity as Administrator and to the extent permitted under the terms of the Administrative Services AgreementAdministrator, the Ceding Company Company, on its own initiative, shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance AgreementPolicy, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance AgreementPolicies, or by any Governmental Authority Body or Applicable Law or (b) enter into any settlement of any Covered Insurance Policy or Existing Reinsurance AgreementLaw. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting Reinsurer, including in its capacity as Administrator or at the direction of the ReinsurerAdministrator, or (b) pursuant to the terms of any Covered Insurance Policies or by reason of the requirements of any Governmental Authority Body or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities liabilities and obligations resulting from such changes and shall fully indemnify the Ceding Company and hold the Ceding Company harmless with respect to such changes, in each case, subject to the terms and conditions of this Agreement. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority Body or Applicable Law, the Administrator determines Reinsurer is not to implementimplementing, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required proposed change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such change under applicable administrative procedures.procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Loss so suffered by the Ceding Company in accordance with Article X.

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s 's capacity as Administrator and to the extent permitted under the terms of the Administrative Services AgreementAdministrator, the Ceding Company Company, on its own initiative, shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance AgreementPolicy, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance AgreementPolicies, or by any Governmental Authority Body or Applicable Law Law. Furthermore, the Ceding Company shall not object to or (b) enter into hinder any settlement efforts by the Reinsurer to effectuate any changes to any Covered Insurance Policy, including increases to any fees or charges thereunder, as long as such changes are not contrary to the terms and conditions of any such Covered Insurance Policy or Existing Reinsurance Agreementthis Agreement or in violation of any Applicable Law or Governmental Order. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting in its capacity as Administrator or at the direction of the Reinsurer, or (b) pursuant to the terms of any Covered Insurance Policies or required by reason of the requirements of any Governmental Authority Body or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities and obligations resulting from such changes and shall fully indemnify the Ceding Company and hold the Ceding Company harmless with respect to such changes. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority Body or Applicable Law, the Administrator determines is not to implementimplementing, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required proposed change and afford the Reinsurer, at the Reinsurer’s 's expense, the opportunity, to the extent practicable, opportunity to object to such change under applicable administrative procedures.procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Loss so suffered by the Ceding Company in accordance with Article 14

Insurance Contract Changes. Except as directed by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s 's capacity as Administrator and to the extent permitted under the terms of the Administrative Services Agreement, the Ceding Company shall not (a) change the terms or conditions of any Covered Insurance Policy or Existing Reinsurance Agreement, other than for any change required by the terms of any Covered Insurance Policy or Existing Reinsurance Agreement, or by any Governmental Authority or Applicable Law or (b) enter into any settlement of any Covered Insurance Policy or Existing Reinsurance Agreement. If the Reinsured Liabilities under any of the Covered Insurance Policies are changed (a) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies or Existing Reinsurance Agreements or settlements in respect of Covered Insurance Policies or Existing Reinsurance Agreements effected by the Reinsurer acting in its capacity as Administrator or at the direction of the Reinsurer, or (b) pursuant to the terms of any Covered Insurance Policies or by reason of the requirements of any Governmental Authority or Applicable Law, the Reinsurer will participate, on the reinsurance basis set forth in Section SECTION 2.1, and assume one hundred percent (100%) of all Reinsured Liabilities resulting from such changes. With respect to any change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Authority or Applicable Law, the Administrator determines not to implement, the Ceding Company shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required change and afford the Reinsurer, at the Reinsurer’s 's expense, the opportunity, to the extent practicable, to object to such change under applicable administrative procedures.