JNL Reinsurance Agreement Sample Clauses

JNL Reinsurance Agreement. (a) In connection with Jefferson National's issuance of the Monument Advisor Contracts, the parties hereto agree that each twelve-month period with the initial such period beginning January 1, 2010, and each following twelve-month period starting after the last day of the previous twelve-month period shall be a "Calculation Period." For purposes of this Agreement, the payment and premiums (including any renewal premiums) collected on the Monument Advisor Contracts during each Calculation Period less the sum of (i) the premiums (including any renewal premiums) collected on the Phoenix Contracts during such Calculation Period and (ii) $250 million shall be the "Differential Amount;" provided, however, that the renewal premium on any Monument Advisor Contract shall not be included in the calculation for any Calculation Period if such Monument Advisor Contract is already included in an existing JNL Reinsurance Agreement (as defined below). Jefferson National shall calculate the Differential Amount in good faith and communicate such amount to PHLVIC within thirty (30) days after the end of each Calculation Period. If PHLVIC disagrees with any calculation of the Differential Amount, the Parties shall resolve any dispute in good faith as promptly as practicable. If for any Calculation Period, the Differential Amount is greater than zero, Jefferson National and PHLVIC shall enter into a reinsurance agreement substantially in the form attached hereto as Exhibit B effective as of the beginning of such Calculation Period for the Monument Advisor Contracts issued during such Calculation Period (the "JNL Reinsurance Agreement").
Sample 1
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Related to JNL Reinsurance Agreement

  • Reinsurance Agreements Promptly, notice of any material change or modification to any Reinsurance Agreements or Surplus Relief Reinsurance Agreements whether entered into before or after the Closing Date including Reinsurance Agreements, if any, which were in a runoff mode on the Closing Date, which change or modification could have a Material Adverse Effect;

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • Basis of Reinsurance Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • FACULTATIVE REINSURANCE For Facultative reinsurance, the Reinsurer’s liability will commence at the same time as the Ceding Company’s liability, provided that the Reinsurer has made a binding Facultative offer and that offer was accepted, during the lifetime of the insured, in accordance with the terms of this Agreement.

  • Severance Agreements (a) In the event of the termination of employment of the Executive by Horizon for any reason whatsoever other than for Cause at any time from and after the date of this Agreement or in the event of termination of employment of the Executive by the Executive with Good Reason (as defined in Section 3 hereof) at any time within the twelve (12) month period after the occurrence of a Change of Control:

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