Ipso Facto Clause. If the receiver, including any liquidator or rehabilitator, of one of the parties assigns the rights or delegates the duties of this Assumption Agreement, and the assignee is the subject of Insolvency Proceedings then the other party may immediately terminate the Assumption Agreement without further performance.
Appears in 8 contracts
Samples: Reinsurance Agreement, Assumption Reinsurance Agreement (Utg Inc), Assumption Reinsurance Agreement (Utg Inc)
Ipso Facto Clause. If the receiver, including any liquidator or rehabilitator, of one of the parties assigns the rights or delegates the duties of this Assumption Agreement, and the assignee is the subject of Insolvency Proceedings then the other party may immediately terminate the Assumption Agreement without further performance.
Appears in 3 contracts
Samples: Coinsurance Agreement (First Commonwealth Corp), Coinsurance Agreement (United Trust Inc /Il/), Coinsurance Agreement (United Income Inc)
