NO WAIVER OF DEFENSES. Nothing in this Article X shall preclude the Reinsurer from asserting any excuse or defense to payment of this reinsurance other than the excuses or defenses of the insolvency of the Company and the failure of the Company's conservator, receiver, liquidator or statutory successor to pay all or a portion of any claim.
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Samples: Coinsurance Agreement (Keyport Life Insurance Co), Coinsurance Agreement (Usf&g Corp), Coinsurance Agreement (Liberty Financial Companies Inc /Ma/)
NO WAIVER OF DEFENSES. Nothing in this Article X shall preclude the Reinsurer from asserting any valid, proper and legal excuse or defense to payment of this reinsurance other than the excuses or defenses of the insolvency of the Ceding Company and the failure of the Ceding Company's ’s conservator, receiver, liquidator or statutory successor to pay all or a portion of any claim.
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