Common use of Inuring Reinsurance Clause in Contracts

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 any other treaty reinsurance. The premium for said inuring reinsurance that inures to the benefit of the Retrocessionaire will be deducted from the premium hereunder. All reinsurance purchased by the Retrocedant inures to the benefit of the Retrocessionaire unless specifically noted in Addendum A.

Appears in 3 contracts

Samples: Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD), Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD), Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD)

AutoNDA by SimpleDocs

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 and/or any other treaty reinsurance. The premium for said inuring reinsurance that inures to the benefit of the Retrocessionaire will be deducted from reduce the premium hereunderGross Net Premium pursuant to Article 4 hereof. All Notwithstanding the above, facultative and treaty reinsurance purchased by the Retrocedant inures listed in Appendix 1 hereto shall not inure to the benefit of the Retrocessionaire unless specifically noted in Addendum A.Retrocessionnaire.

Appears in 3 contracts

Samples: Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD), Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD), Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD)

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 and/or any other treaty reinsurance. The premium for said inuring reinsurance that inures to the benefit of the Retrocessionaire will be deducted from the premium hereunder. All reinsurance purchased by the Retrocedant inures to the benefit of the Retrocessionaire unless specifically noted in Addendum A..

Appears in 2 contracts

Samples: Excess of Loss Retrocession Agreement, Excess of Loss Retrocession Agreement (Platinum Underwriters Holdings LTD)

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 and/or any other treaty reinsurance. The premium for said inuring reinsurance that inures Only those protections listed in Appendix 1 are to inure to the benefit of the Retrocessionaire will Retrocessionaire. Such Appendix to be deducted from the premium hereunder. All reinsurance purchased updated and maintained by the Retrocedant inures to the benefit of the Retrocessionaire unless specifically noted in Addendum A.both parties.

Appears in 1 contract

Samples: Excess of Loss Retrocession Agreement (Platinum Underwriters Holdings LTD)

AutoNDA by SimpleDocs

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 and/or any other treaty reinsurance, except as listed in Appendix 1 hereto. The premium for said inuring reinsurance that inures to the benefit of the Retrocessionaire will be deducted from reduce the premium hereunder. All reinsurance purchased by the Retrocedant inures Gross Net Premium pursuant to the benefit of the Retrocessionaire unless specifically noted in Addendum A.Article 4 hereof.

Appears in 1 contract

Samples: Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!