MISCELLANEOUS GAINS AND LOSSES. The REINSURED shall pay the REINSURER each day with respect to the portions of the policies reinsured hereunder, the net gains (or "breakage") caused by delays in moving funds to and from the Separate Account of the REINSURED. If such amounts are net losses, then they shall be paid by the REINSURER to the REINSURED.
Appears in 4 contracts
Samples: Modified Coinsurance Agreement (Separate Account Vul-2 of the American Franklin Life Ins Co), Modified Coinsurance Agreement (Separate Account Vul-2 of the American Franklin Life Ins Co), Reinsurance Agreement (Agl Separate Account Vul-2)
