Common use of NOTIFICATION TO POLICYHOLDERS Clause in Contracts

NOTIFICATION TO POLICYHOLDERS. The Administrator agrees to send to policyholders of the Reinsured Contracts a written notice prepared by the Administrator and reasonably acceptable to the Company to the effect that the Administrator, or such other Person designated by the Administrator in accordance with the terms of this Agreement, has been appointed by the Company to provide Administrative Services. The Administrator shall send such notice by first class U.S. mail at a time reasonably acceptable to the Company and the Administrator and in all events in accordance with Applicable Law. The parties intend to minimize the cost associated with any notification under this Article V, including by means of inclusion of the notice in a regularly scheduled mailing to policyholders in lieu of a separate mailing. The cost associated with such notification under this Article V (upon the initial assumption of the administration of the Reinsured Contracts under Section 3.7 of the Coinsurance Agreement) shall be a transition cost payable by the Administrator or the Company in accordance with Section 3.7(a) or 3.7(c) of the Coinsurance Agreement, as applicable.

NOTIFICATION TO POLICYHOLDERS. The Administrator agrees to send to policyholders of the Reinsured Contracts a written notice prepared by the Administrator and Administrator, reasonably acceptable to the Company and approved by the New York Insurance Department to the effect that the Administrator, or such other Person designated by the Administrator in accordance with the terms of this Agreement, has been appointed by the Company to provide Administrative Services. The Administrator shall send such notice by first class U.S. mail at a time reasonably acceptable to the Company and the Administrator and in all events in accordance with Applicable Law. The parties intend to minimize the cost associated with any notification under this Article V, including by means of inclusion of the notice in a regularly scheduled mailing to policyholders in lieu of a separate mailing. The cost associated with such notification under this Article V (upon the initial assumption of the administration of the Reinsured Contracts under Section 3.7 of the Coinsurance Agreement) shall be a transition cost payable by the Administrator or the Company in accordance with Section 3.7(a) or 3.7(c) of the Coinsurance Agreement, as applicable.

NOTIFICATION TO POLICYHOLDERS. The Administrator agrees to send to policyholders of the Reinsured Contracts Novated Policies a written notice prepared by the Administrator and reasonably acceptable to the Company to the effect that the Administrator, or such other Person designated by the Administrator in accordance with the terms of this Agreement, has been appointed by the Company to provide Administrative Services. The Administrator shall send such notice by first class U.S. mail at a time reasonably acceptable to the Company and the Administrator and in all events in accordance with Applicable Law. The parties intend to minimize the cost associated with any notification under this Article V, including by means of inclusion of the notice in a regularly scheduled mailing to policyholders in lieu of a separate mailing. The cost associated with such notification under this Article V (upon the initial assumption of the administration of the Reinsured Contracts Novated Policies under Section 3.7 3.9 of the Coinsurance Retrocession Agreement) shall be a transition cost payable by the Administrator or the Company in accordance with Section 3.7(a3.9(a) or 3.7(c3.9(c) of the Coinsurance Retrocession Agreement, as applicable.