Order of Draw. In the event the Reinsurer establishes multiple sources of reserve credit trust(s) pursuant to Paragraph 1 above and/or letter(s) of credit pursuant to Paragraph 2 above, and the Reinsurer has specified in writing to the Ceding Company an order of draw from these sources of reserve credit, the Ceding Company agrees to draw from these sources of reserve credit in the order specified by Reinsurer for the purposes specified in items (i), (ii), and (iii) of Paragraphs 1.C or 2. The order of draw is not applicable to drawn amounts for the purpose specified in item (iv) of Paragraphs 1.C or 2. This covenant shall be binding upon the Ceding Company and its successors.
Appears in 3 contracts
Samples: Reinsurance Agreement (Lincoln Life Variable Annuity Account N), Reinsurance Agreement (Lincoln Life Variable Annuity Account N), Reinsurance Agreement (Lincoln Life Variable Annuity Account N)
Order of Draw. In the event the Reinsurer establishes multiple sources of reserve credit trust(s) pursuant to Paragraph 1 above and/or letter(s) of credit pursuant to Paragraph 2 above, and the Reinsurer has specified in writing to the Ceding Company an order of draw from these sources of reserve credit, the Ceding Company agrees to will draw from these sources of reserve credit in the order specified by Reinsurer for the purposes specified in items (i), (ii), and (iii) of Paragraphs 1.C 1 or 2. The order of draw is not applicable to drawn amounts withdrawals for the purpose specified in item (iv) of Paragraphs 1.C 1 or 2. This covenant forbearance shall be binding upon the Ceding Company and its successors.
Appears in 3 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement (Separate Account a of Pacific Life Insurance Co), Reinsurance Agreement (Ohio National Variable Account A)
Order of Draw. In the event the Reinsurer establishes multiple sources of reserve credit trust(s) pursuant to Paragraph 1 above and/or letter(s) of credit pursuant to Paragraph 2 above, and the Reinsurer has specified in writing to the Ceding Company an order of draw from these sources of EXECUTION VERSION reserve credit, the Ceding Company agrees to will draw from these sources of reserve credit in the order specified by Reinsurer for the purposes specified in items (i), (ii), and (iii) of Paragraphs 1.C 1 or 2. The order of draw is not applicable to drawn amounts withdrawals for the purpose specified in item (iv) of Paragraphs 1.C 1 or 2. This covenant forbearance shall be binding upon the Ceding Company and its successors.
Appears in 1 contract
Samples: Reinsurance Agreement
