Common use of INTERNAL REPLACEMENTS Clause in Contracts

INTERNAL REPLACEMENTS. Should the Ceding Company, its affiliates, successors or assigns, initiate a formal program of Internal Replacement that would include any of the annuities reinsured hereunder, the Ceding Company will immediately notify the Reinsurer. For purposes of this Agreement, the term "Internal Replacement" means any instance in which an annuity or any portion of the cash value of an annuity which is written by the Ceding Company, its affiliates, successors, or assigns is exchanged for another policy or annuity. The Reinsurer will participate on a quota share basis in any expenses associated with that program provided reinsurance coverage will continue under this Agreement for the new policy. The quota share percentage for the new policy will be same as for the replaced policy, except when the new policy is otherwise covered by this Agreement, and the quota share on the old and new policies are different. In that case, the quota share will be that of the new policy which would otherwise be applicable under this Agreement, and an amount will be paid which is equal to (i) minus (ii) where:

INTERNAL REPLACEMENTS. Should the Ceding Company, its affiliates, successors or assigns, initiate a formal program of Internal Replacement that would include any of the annuities reinsured hereunder, the Ceding Company will immediately notify the Reinsurer. For purposes of this Agreement, the term "Internal Replacement" means any instance instances in which an annuity or any portion of the cash value of an annuity which is written by the Ceding Company, its affiliates, successors, or assigns is exchanged for another policy or annuity. The Reinsurer will participate on a quota share basis in any expenses associated with that program provided reinsurance reinsurances coverage will continue under this Agreement for the new policy. The quota share percentage for the new policy will be same as for the replaced policy, except when the new policy is otherwise covered by this Agreement, and the quota share on the old and new policies are different. In that case, the quota share will be that of the new policy which would otherwise be applicable under this Agreement, and an amount will be paid which is equal to (i) minus (ii) where:

INTERNAL REPLACEMENTS. Should the Ceding Company, its affiliates, successors or assigns, initiate a formal program of Internal Replacement that would include any of the annuities reinsured hereunder, the Ceding Company will immediately notify the ReinsurerReinsurer who will have thirty (30) days to accept or reject the Internal Replacement Program. For purposes of this Agreement, the term "Internal Replacement" means any instance in which an annuity or any portion of the cash value of an annuity which is written by the Ceding Company, its affiliates, successors, or assigns and reinsured under this Agreement is exchanged for another policy or annuityannuity written by the Ceding Company, its affiliates, successors or assigns. The Reinsurer will participate on a quota share basis in any expenses associated with that program provided reinsurance coverage will continue under this Agreement for the new policy. The quota share percentage for the new policy will be same as for the replaced policy, except when the new policy is otherwise covered by this Agreement, Agreement and the quota share on the old and new policies are different. In that case, the quota share will be that of the new policy which would otherwise be applicable under this Agreement, and an amount will be paid which is equal to (i) minus (ii) where:

INTERNAL REPLACEMENTS. Should the Ceding Coding Company, its affiliates, successors successors, or assigns, initiate initiates a formal program of Internal Replacement that would include any of the annuities reinsured hereunder, the Ceding that Coding Company will immediately notify the Reinsurer. For purposes of this Agreement, the term "Internal Replacement" means any instance in which an annuity or any portion of the cash value of an annuity which is written by the Ceding Coding Company, its affiliates, successors, or assigns assigns, is exchanged for another policy or annuity. The Reinsurer will participate on a quota share basis in any expenses expense associated with that program provided the reinsurance coverage will continue under this Agreement agreement for the new policy. The quota share percentage for the new policy will be same as that for the replaced policy, except when the new policy is otherwise covered by this Agreement, and the quota share percentage on the old and new policies are different. In that case, the quota share percentage will be that of the new policy which would otherwise be applicable under this Agreement, and an amount will be paid which is equal to (i) minus (ii) where: