Inuring Reinsurance. 12.01 It is the intention of the Parties that the Reinsurer shall bear the costs and reap the benefits of the Inuring Reinsurance in proportion to its applicable Quota Share. In exchange for the Reinsurer providing the Ceding Company with an Inuring Reinsurance Premium Allowance in order to pay the premiums under the Inuring Reinsurance agreements, the Reinsurer shall be entitled to a reduction in its liability to the extent of Inuring Reinsurance Recoveries actually received by the Ceding Company. The Reinsurer shall bear the costs of any non-performance of the reinsurers under the Inuring Reinsurance agreements in proportion to its applicable Quota Share.
Inuring Reinsurance. It is understood and agreed that when the Retrocedant warrants that it is in the best interest of the Retrocedant and the Retrocessionaire, Retrocedant may purchase facultative reinsurance and/or any other treaty reinsurance. The premium for said inuring reinsurance that inures to the benefit of the Retrocessionaire will reduce the Gross Net Premium pursuant to Article 4 hereof. Notwithstanding the above, facultative and treaty reinsurance listed in Appendix 1 hereto shall not inure to the benefit of the Retrocessionnaire.
Inuring Reinsurance. As additional consideration for the liabilities assumed by the Reinsurer pursuant to this Agreement, the parties hereby agree that all Inuring Reinsurance shall inure to the benefit of the Reinsurer and, accordingly, any recovery of funds under the Inuring Reinsurance shall be paid promptly to the Reinsurer.
Inuring Reinsurance. It is understood and agreed that when the Retrocedant warrants that it is in the best interest of the Retrocedant and the Retrocessionaire, Retrocedant may purchase facultative reinsurance and/or any other treaty reinsurance. All Reinsurance in place at April 1, 2006, or acquired after that date inures to the benefit of this program unless otherwise specified in Appendix 1.
Inuring Reinsurance. Recoveries under all reinsurance contracts of the Company, whether collected or not, shall inure to the full benefit of this cover. All reinsurance contracts of the Company shall be deemed to be in place until all liability herein is finalized. Material change in inuring reinsurance is subject to mutual agreement by the Reinsurer and the Company; however, this provision shall not apply to any inuring catastrophe reinsurance as purchased by the Company.
Inuring Reinsurance. Recoveries under all reinsurance contracts of the Company, whether collected or not, shall inure to the full benefit of this cover. All reinsurance contracts of the Company shall be deemed to be in place until all liability herein is finalized. Material change in inuring reinsurance is subject to mutual agreement by the Reinsurer and the Company; however, this provision shall not apply to any inuring catastrophe reinsurance as purchased by the Company. Notwithstanding the foregoing, it is hereby recognized that the Company’s inuring Property Catastrophe Excess of Loss Reinsurance Agreement, effective 12:01 a.m., Standard Time, July 1, 2023 through 12:01 a.m., Standard Time, July 1, 2024, shall inure to the sole benefit of the Company on a losses occurring basis.
Inuring Reinsurance. So long as the Reinsurer shall advance the costs and expenses thereof, the Company shall use commercially reasonable efforts to maintain in force Inuring Reinsurance on all Business written by the Reinsurer pursuant to the Fronting Authority as mutually agreed by the Parties through December 31, 2013.
Inuring Reinsurance. Section 7.1 The Purchaser shall have the benefit of any Reinsurance Agreement entered into prior to the Closing Date. The reinsurance provided under this Agreement shall not replace, limit or reduce the liability of any Reinsurer.
Inuring Reinsurance. The Company shall maintain in force, and will not materially modify, all Inuring Reinsurance listed in Schedule B to the extent such Insuring Reinsurance was in-force as of the Closing Date so as to continue to provide reinsurance coverage for the Reinsurance Contracts covered thereunder through scheduled date of expiration or termination of such Inuring Reinsurance. All allocations of reinsurance premiums and reinsurance recoverables under the Company’s catastrophe per occurrence and aggregate excess covers as they relate to the Reinsurance Business and Integon’s rights and obligations with respect thereto shall be resolved in accordance with the allocation guidelines attached hereto as Schedule E. The Reinsurer shall have no obligation to incur out-of-pocket costs to collect any amount due under the Inuring Reinsurance with respect to Existing Contracts. Enforcement of any obligation of a reinsurer under the Inuring Reinsurance as to Existing Contracts shall be the responsibility of the Company.
Inuring Reinsurance. A. The Company shall maintain property catastrophe excess of loss reinsurance, recoveries under which shall inure to the benefit of Coverage B of this Agreement, for the following layers:
