Provisions in the Event of Insurance Company Receivership. If one of the Parties that is an insurance company is placed in receivership or seized by the insurance commissioner under the relevant state’s receivership act, then: (1) all of the rights of the insurance company under this Agreement shall extended to the receiver or commissioner; and (2) all Service Providers will immediately make available to the receiver or the commissioner all books and records, and the Service Providers will turn over such books and records to the receiver or commission immediately upon request. No Party shall have an automatic right to terminate this Agreement upon the receivership of an insurance company. All other Parties will continue to maintain any systems, programs or other infrastructure notwithstanding the receivership of an insurance company, and the Parties will make those systems available to the receiver or commissioner for so long as the Parties continue to receive timely payment for services rendered and costs expended. [SIGNATURE PAGE FOLLOWS.]
Appears in 4 contracts
Samples: Shared Services and Cost Sharing Agreement (Athene Annuity & Life Co), Shared Services and Cost Sharing Agreement (Athene Annuity & Life Co), Shared Services and Cost Sharing Agreement (Athene Annuity & Life Co)
