Recapture of Underlying Reinsurance Agreements Sample Clauses

Recapture of Underlying Reinsurance Agreements. (a) In the event of a recapture of an Underlying Reinsurance Agreement, the Ceding Company shall provide the Reinsurer written notice of such recapture specifying the grounds of such recapture and identifying the date of such recapture (the date such recapture is effected, the “Underlying Reinsurance Recapture Date”). In connection with the recapture of an Underlying Reinsurance Agreement, the Ceding Company shall prepare a settlement statement within twenty (20) Business Days of the Underlying Reinsurance Recapture Date (the “Underlying Reinsurance Terminal Settlement Statement”) setting forth the terminal settlement calculated in accordance with Schedule 9.05(a) (the “Partial Terminal Settlement”). The Reinsurer shall provide to the Ceding Company such assistance, information and documents as may be reasonably requested by the Ceding Company in preparing such calculation. The Reinsurer shall pay any undisputed amount of the Partial Terminal Settlement in cash to the Ceding Company within ten (10) Business Days of its receipt of the Underlying Reinsurance Terminal Settlement Statement. To the extent such undisputed amount is not paid by the Reinsurer pursuant to the immediately preceding sentence, the Ceding Company shall be entitled to withdraw assets in the Trust Account based on their Fair Market Value to satisfy such undisputed amount of the Partial Terminal Settlement.
Sample 1
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Recapture of Underlying Reinsurance Agreements. (a) In the event of a recapture of an Underlying Reinsurance Agreement, the Ceding Company shall provide the Reinsurer written notice of such recapture specifying the
Sample 1

Related to Recapture of Underlying Reinsurance Agreements

  • Reinsurance Agreements Promptly, notice of any material change or modification to any Reinsurance Agreements or Surplus Relief Reinsurance Agreements whether entered into before or after the Closing Date including Reinsurance Agreements, if any, which were in a runoff mode on the Closing Date, which change or modification could have a Material Adverse Effect;

  • 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.

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • 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.

  • 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.

  • 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.

  • 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.

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Severance Agreements (a) In the event of the termination of employment of the Executive by Horizon for any reason whatsoever other than for Cause at any time from and after the date of this Agreement or in the event of termination of employment of the Executive by the Executive with Good Reason (as defined in Section 3 hereof) at any time within the twelve (12) month period after the occurrence of a Change of Control:

  • Letter Agreement The Company shall have entered into the Letter Agreement on terms satisfactory to the Company.

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