Non-Guaranteed Elements. From and after the Effective Date, the Ceding Company shall establish Non-Guaranteed Elements for the Business Reinsured in accordance with the Non-Guaranteed Element Policy. The Reinsurer may make recommendations to the Ceding Company and the Ceding Company shall fully consider such recommendations and shall not unreasonably reject any such recommendations that comply with the terms of the Business Reinsured, applicable law and applicable Actuarial Standards of Practice, however, the Ceding Company shall retain the ultimate authority to establish Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.
Non-Guaranteed Elements. (a) The Reinsurer acknowledges that the Ceding Company shall have the ultimate authority to establish and control the non-guaranteed elements of the Covered Insurance Policies, including (A) the initial and renewal crediting rates, (B) Premiums following the expiration of the period during which Premium amounts for the applicable Covered Insurance Policies are fixed and constant (i.e., rate guarantee periods), (C) insurance charges, (D) loads and expense charges, (E) mortality and expense charges, (F) administrative expense risk charges, (G) policyholder dividends, (H) Policy Loan rates, (I) index cap and (J) participation rates (each of such items, a “Non-Guaranteed Element”); provided, however, that the Ceding Company shall manage all Non-Guaranteed Elements in a manner consistent with the practices and procedures applied by the Ceding Company for its similar businesses and in accordance with Applicable Law. The Ceding Company agrees that, from and after the Amendment Date, it shall take into account the recommendations of the Reinsurer regarding the Non-Guaranteed Elements (whether in response to a change proposed by the Ceding Company or at the initiative of the Reinsurer), and, to the extent such recommendations comply with Applicable Law, the terms of this Agreement, the applicable Covered Insurance Policies and generally accepted actuarial standards of practice, the Ceding Company shall not unreasonably reject such recommendations. Each time the Ceding Company elects to change any Non- Guaranteed Elements, other than (1) any change in initial or renewal crediting rates, Policy Loan rates or index cap or any other similar change or any change required by any Applicable Law or Governmental Authority or (2) any change in term Premiums charged in respect of term Covered Insurance Policies that have reached the end of the level-term period (each of the items listed (1) or (2), a an “Excluded NGE Change”), the Ceding Company shall notify the Reinsurer in writing of such change to any Non-Guaranteed Elements as soon as practicable but in no case later than forty-five (45) calendar days after the effective date of such change; provided, however, that, in the case of any such change that affects more than five percent (5%) of the Covered Insurance Policies in any Reinsured Portfolio, the Ceding Company will use its reasonable best efforts to notify the Reinsurer thirty (30) calendar days before such change takes place (each form of notice described in this s...
Non-Guaranteed Elements. Upon Novation, the Assuming Company may (i) set all Non-Guaranteed Elements of the Novated Contracts in its sole discretion, and (ii) make any other amendments or changes to the Novated Contracts or the product features or investment options thereunder (e.g., fund substitutions and/or buyout offers), in each case, without notice to, or consent of, the Ceding Company. For the avoidance of doubt, unless and until a Novation Subject Contract becomes a Novated Contract, the Ceding Company shall retain control over the Non-Guaranteed Elements for such Novation Subject Contract in accordance with the terms of the Coinsurance Agreement.
Non-Guaranteed Elements. (a) For the period beginning on the Closing Date and continuing up to and including the Transition Date, the Ceding Company shall make such changes to the non-guaranteed elements under the Policies as are requested in writing by the Reinsurer or its designees. The Ceding Company shall make no changes to such non-guaranteed elements except those requested in writing by the Reinsurer or its designees, or as otherwise may be required by Applicable Law.
Non-Guaranteed Elements. From and after the Effective Time, the Ceding Company shall establish the applicable Non-Guaranteed Elements under the Covered Insurance Policies in accordance with the Non-Guaranteed Element Policy. The Ceding Company shall take into account the recommendations of the Reinsurer in establishing such Non-Guaranteed Elements, but shall retain the ultimate authority to establish the Non-Guaranteed Elements in accordance with the Non-Guaranteed Element Policy.
Non-Guaranteed Elements. The Company shall set all rider charges, interest rates to be credited on the Reinsured Contracts and other non-guaranteed elements of the Reinsured Contracts (“Non-Guaranteed Elements”) from and after the Inception Date. The Company shall allow the Reinsurer to participate in all decisions made by the Company with respect to setting Non-Guaranteed Elements.
Non-Guaranteed Elements. Non-Guaranteed Elements shall be set in accordance with the Reinsurance Agreement, subject to the receipt of any approval from the independent board of directors of any Separate Account as required by the Investment Company Act of 1940 or otherwise, as applicable.
Non-Guaranteed Elements. The Reinsurer may, from time to time, make recommendations to the Ceding Company with respect to Non-Guaranteed Elements so long as the recommendations comply with the written terms of the Covered Insurance Policies, Applicable Law and Actuarial Standards of Practice promulgated by the Actuarial Standard Board governing redetermination of non-guaranteed charges. The Ceding Company shall establish Non-Guaranteed Elements, taking into account the recommendations of the Reinsurer with respect thereto. The Ceding Company shall fully consider any such recommendations and act reasonably and in good faith in determining whether any such recommendations should be accepted and shall not unreasonably delay implementation of any accepted recommendations more than ten Business Days after such recommendations are provided in writing; provided, however, that the Reinsurer shall indemnify and hold harmless the Ceding Company for Losses arising out of the Ceding Company’s acceptance and implementation of the Reinsurer’s recommendations in accordance with Article IX.
Non-Guaranteed Elements. (a) The Cedant shall establish all Non-Guaranteed Elements with respect to the Reinsured Policies; provided, however, that the Reinsurer may make recommendations to the Cedant as to the setting of such Non-Guaranteed Elements.
Non-Guaranteed Elements. From and after the Closing Date, the Reinsurer may, from time to time, make recommendations to the Ceding Company with respect to Non-Guaranteed Elements so long as the recommendations comply with the written terms of the Reinsured Contracts, applicable Law and Actuarial Standards of Practice promulgated by the Actuarial Standard Board governing redetermination of non-guaranteed charges. The Ceding Company shall fully consider any such recommendations and act reasonably and in good faith in determining whether any such recommendations should be accepted and shall not unreasonably delay implementation of any accepted recommendations. The Ceding Company shall (a) consult with the Reinsurer periodically on the setting of Non-Guaranteed Elements prior to making any material changes thereto and (b) other than as set forth in this Section 2.8, set Non-Guaranteed Elements in a manner consistent in all material respects with the manner in which the Ceding Company sets non-guaranteed elements with respect to its variable annuity contracts that are not reinsured to the Reinsurer or any other third party.
