RECAPTURE OF REINSURANCE Sample Clauses

RECAPTURE OF REINSURANCE. In the event the Ceding Company increases its limits of retention, it may reduce all reinsurance effected under this Agreement by giving written notice to the Pool of its desire to initiate a recapture program, subject to the following restrictions:
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RECAPTURE OF REINSURANCE. An increase in the Ceding Company's Maximum Limits of Retention will not increase the amount that may be ceded on an automatic basis to the Reinsurer unless mutually agreed to by the parties. This provision does not prohibit the Ceding Company from reinsuring any portion of amounts it has retained on the Reinsured Business under catastrophic reinsurance programs or, risk pooling arrangements or financial or surplus relief type reinsurance transactions.
Sample 1
RECAPTURE OF REINSURANCE. A. Increases to Maximum Limits of Retention If the Ceding Company increases its Maximum Limits of Retention in accordance with Section 16 - Retention Limit Changes, the Ceding Company has the option to recapture risk amounts (the "Affected Business") as set out herein. [REDACTED]
Sample 1
RECAPTURE OF REINSURANCE. Whenever the Ceding Company increases its maximum limits of retention over the Ceding Company’s Maximum Limits of Retention set forth in Exhibit 2, the Ceding Company has the option to recapture certain risk amounts. The Ceding Company may only recapture on a risk where it retained less than its quota share percentage set forth in Exhibit 1, at issue, because retaining its full quota share percentage at the time of issue would have exceeded the Ceding Company’s maximum limits of retention at the time of issue. The amount of reinsurance that may be recaptured shall equal the difference between the amount originally retained and the current normal maximum retention limit, but not to exceed the original quota share percentage, set forth in Exhibit 1, at the time of issue. Note: An increase in quota share will not effect recapture. The Reinsurer shall permit the Ceding Company to recapture all or part of such existing reinsurance cessions provided:
Sample 1
RECAPTURE OF REINSURANCE. (a) The Reinsurer, or any of its affiliates to whom the Reinsurer has retroceded any of the Policies reinsured herein, shall permit the Company to recapture the Policies reinsured hereunder, at fair market value, based on procedures outlined in Schedule H, without any penalty, if the Reinsurer's risk-based capital ratio as defined in the National Association of Insurance Commissioners "Risk-Based Capital for Life and/or Health Insurers Model Act", falls below 150% of the "Company Action Level" at the end of any calendar quarter and remains below such level at the end of the next two calendar quarters. The recapture shall commence at the end of the calendar quarter during which 30 days notice is given to the Reinsurer by the Company of the Company's intent to recapture. The initial recapture shall relate to no more than 33 1/3% of the Policies reinsured in the hereunder, with the remainder of the recapture, in substantially equal amounts, to occur over a period not to exceed more than 36 months thereafter.
Sample 1
RECAPTURE OF REINSURANCE. 13 SECTION 25.
Sample 1
RECAPTURE OF REINSURANCE. Whenever the Ceding Company increases its maximum limits of retention over the Ceding Company's Maximum Limits of Retention set forth in Exhibit 2, the Ceding Company has the option to recapture certain risk amounts. If the Ceding Company has maintained its maximum stated retention (not a special retention limit) for the plan and the insured's issue age, sex, and mortality classification, it may apply its increased retention limits to reduce the amount of reinsurance in force as follows: The Reinsurer shall permit the Ceding Company to recapture all or part of such existing reinsurance cessions provided:
Sample 1
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RECAPTURE OF REINSURANCE. (a) Once each calendar year, the Company shall have the option to recapture existing contracts reinsured hereunder. If the Company elects to recapture, recapture will occur subject to a mutually acceptable schedule determined at the time recapture is elected.
Sample 1
RECAPTURE OF REINSURANCE 
Sample 1

Related to RECAPTURE OF REINSURANCE

  • Other Reinsurance The Company shall be permitted to carry other reinsurance, recoveries under which shall inure solely to the benefit of the Company and be entirely disregarded in applying all of the provisions of this Contract.

  • Basis of Reinsurance Reinsurance under this Agreement will be on the Yearly Renewable Term basis on the portion of each policy that is reinsured as described in Schedule A.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Automatic Reinsurance For automatic reinsurance, the Reinsurer's liability will commence at the same time as the Ceding Company's liability, including liability under any conditional receipt or temporary insurance provision.

  • Insurance and Condemnation (i) The Issuer shall do or cause to be done all things that it may accomplish with a reasonable amount of cost or effort to cause each of the POAs for each Resort to (A) maintain one or more policies of “all-risk” property and general liability insurance with financially sound and reputable insurers, providing coverage in scope and amount which (x) satisfies the requirements of the declarations (or any similar charter document) governing the POA for the maintenance of such insurance policies and (y) is at least consistent with the scope and amount of such insurance coverage obtained by prudent POAs and/or management of other similar developments in the same jurisdiction; and (B) apply the proceeds of any such insurance policies in the manner specified in the relevant declarations (or any similar charter document) governing the POA and/or any similar charter documents of such POA. For the avoidance of doubt, the parties hereto acknowledge that the ultimate discretion and control relating to the maintenance of any such insurance policies is vested in the POAs in accordance with the respective declaration (or any similar charter document) relating to each Timeshare Property Regime.

  • Tenant Insurance Landlord shall not be liable to Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests for damages not proximately caused by Landlord or Landlord’s agents. Landlord will not compensate Tenant or anyone else for damages proximately caused by any other source whatsoever, or by Acts of God, and Tenant is therefore strongly encouraged to independently purchase insurance to protect Tenant, Xxxxxx’s family, Xxxxxx’s invitees, licensees, and/or guests, and all personal property on the leased premises and/or in any common areas from any and all damages.

  • Insurance and Condemnation Awards Unless and until the Discharge of Senior Obligations has occurred, the Designated Senior Representative and the Senior Secured Parties shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Debt Documents, (a) to be named as additional insured and loss payee under any insurance policies maintained from time to time by any Grantor, (b) to adjust settlement for any insurance policy covering the Shared Collateral in the event of any loss thereunder and (c) to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral. Unless and until the Discharge of Senior Obligations has occurred, all proceeds of any such policy and any such award, if in respect of the Shared Collateral, shall be paid (i) first, prior to the occurrence of the Discharge of Senior Obligations, to the Designated Senior Representative for the benefit of Senior Secured Parties pursuant to the terms of the Senior Debt Documents, (ii) second, after the occurrence of the Discharge of Senior Obligations, to the Designated Second Priority Representative for the benefit of the Second Priority Debt Parties pursuant to the terms of the applicable Second Priority Debt Documents and (iii) third, if no Second Priority Debt Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If any Second Priority Representative or any Second Priority Debt Party shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the Designated Senior Representative in accordance with the terms of Section 4.02.

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