RECAPTURE PRIVILEGES Sample Clauses

RECAPTURE PRIVILEGES. A. The Cedent may recapture existing cessions in force in accordance with the following rules: 1. The Cedent shall notify the Reinsurer of its intention to recapture at least ninety (90) days prior to any recapture. 2. The Cedent may not recapture a cession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture. 3. The recapture shall apply to all cessions in force under this Agreement. 4. The recapture shall be mutually agreed upon by the Cedent and the Reinsurer. 5. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable.

RECAPTURE PRIVILEGES. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the following rules: A. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures. B. No recapture will be made unless reinsurance has been in force for fifteen (15) years. C. Recapture will only be available provided the total carry-forward is in a positive position. The total carry- forward is defined as the sum of the carry-forwards of this Agreement and the complementary GMIB Agreement, if any, that reinsures the same related contracts. D. The carry-forward for each Agreement is defined as the current period's reinsurance premium, minus the current period's reinsurance claims paid under this Agreement, minus a two-and-one-half (2.5) basis point annual expense allowance applied against the average aggregate Account Value, minus the change in treaty reserves, plus last period's loss carry-forward. The carry-forward amount is accumulated at the ninety (90) day Federal Government Treasury Bill rate as published in xxx Wall Street Journal on the first business day of the current period plus two percent (2%). E. Upon election, recapture shall occur ratably over a thirty-six (36) month period (i.e., every month the initial quota-share percentage reduces 2.78% times the initial quota-share percentage). It is irrevocable once elected. F. It is the responsibility of the CEDING COMPANY to determine the carry-forward, based on the method described above. G. In addition to the right to recapture existing reinsurance in force as described under this Article, the CEDING COMPANY may recapture in accordance with the terms of Article VIII and Article XI hereof.

RECAPTURE PRIVILEGES. 12 Article X.

RECAPTURE PRIVILEGES. A. The Cedent may recapture existing cessions in force in accordance with the following rules: 1. The Cedent shall notify the Reinsurer of its intention to recapture at least ninety (90) days prior to any recapture. 2. The Cedent may not recapture a cession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture. 3. The recapture shall apply to all cessions in force under this Agreement. 4. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable.

RECAPTURE PRIVILEGES. A. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the following rules: B. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures. C. No recapture will be made unless reinsurance has been in force for fifteen (15) years, as measured from the EFFECTIVE DATE , or on some other date if mutually agreed to by both parties. D. The recapture shall apply to all the reinsurance in force under the Agreement. E. Recapture will only be available provided the total carryforward, upon release of treaty reserves, is in a positive position. The total carryforward is defined as the sum of the carryforwards of this Agreement and the complementary death benefits agreement, No. 2001-47, that reinsures the same variable annuity contracts specified in Schedule A. F. The carryforward for each Agreement is defined as the current period's reinsurance premium, minus all reinsurance claims paid under this Agreement for the current period, minus a [*] annual expense allowance applied against the average aggregate Account Value for the current period, minus the change in treaty reserves from the prior period to the current period, plus the prior period's carryforward. The monthly carryforward amount is accumulated at the [*] rate as published in the Wall Street Journal on the first business day of the current period plus [*].

RECAPTURE PRIVILEGES. A. If, at any time, the CEDING COMPANY changes its existing retention limits, as shown in Schedule A, written notice of changes in retention limits having a material effect on the terms of the treaty will promptly be given to the REINSURER at least 90 days prior to the effective date. B. The CEDING COMPANY may apply the new limits of retention to existing reinsurance and anytime thereafter reduce and recapture reinsurance in force in accordance with the following rules: 1. The CEDING COMPANY will notify the REINSURER of its intent to recapture under this Article by providing irrevocable written notice at least ninety (90) days prior to any recaptures. 2. No recapture will be made unless the policy has been in force twenty (20) years for ART and permanent life plans, and the end of the level term period for level premium term life plans. 3. Recapture will become effective on the policy anniversary date following the 90 day notification period set forth above. 4. No recapture will be made unless the CEDING COMPANY retained its maximum retention limit, as listed in Section C of Schedule A, prior to the recapture. The amount that may be recaptured is the difference between the amount that the CEDING COMPANY could retain under its revised maximum dollar retention and the amount retained under the original maximum dollar retention limit. 5. If any reinsurance is recaptured all reinsurance eligible for recapture under the provisions of this Article must be recaptured. In addition, all reinsurance eligible for recapture under any other automatic excess of retention reinsurance agreement between the REINSURER and the CEDING COMPANY must be similarly recaptured, except for reinsurance agreements inforce as of the effective date of this Agreement. The CEDING COMPANY may not revoke its election to recapture for policies becoming eligible at future anniversaries. 6. If there is reinsurance in other companies on risks eligible for recapture, the necessary reduction is to be applied to each company in proportion to the total outstanding reinsurance, subject to the provisions of the applicable reinsurance agreements. • The Ceding Company will not re-cede the business to non-affiliated companies for a period of at least 3 years once it has been recaptured. • The amount of reinsurance eligible for recapture is based on the current amount inforce as of the date of recapture. For a policy issued as a result of a conversion, the recapture terms of the reinsurance agreement cov...

RECAPTURE PRIVILEGES. 10 X. Terminations and Reductions .................................. 11 XI. Reinstatement, Continuations, Extended Term and Reduced Paid-Up Insurance ......................... 12

RECAPTURE PRIVILEGES. A. The Retrocedent may recapture existing retrocessions in force in accordance with the following rules: 1. The Retrocedent shall notify the Retrocessionaire of its intention to recapture at least ninety (90) days prior to any recapture. 2. The Retrocedent may not recapture a retrocession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture. 3. The recapture shall apply to all retrocessions in force under this Agreement. 4. Recapture shall be available only provided the total carry-forward, upon release of Reserves hereunder, shall then be a positive amount. The total carry-forward shall be the sum of the carry-forwards outstanding as of that date under this Agreement that apply to the Reinsured Contracts specified in Schedule A. 5. The carry-forward for each Agreement shall be (a) the current period Retrocession Premium minus (b) all retrocession benefit claims paid thereto for the current period minus (c) a two-and-one-half (2.5) basis point annual expense allowance applied against the average aggregate Account Value for the current period minus (d) the change in Reserves from the prior period to the current period plus (e) the prior period’s loss carry-forward. The monthly carry-forward amount shall be accumulated at the ninety-(90) day federal Treasury Xxxx rate as published in The Wall Street Journal on the first business day of the current period plus two percent (2%). 6. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable. B. The Retrocedent and the Retrocessionaire shall exchange carry-forward calculations within ninety (90) days after each year-end and shall promptly seek to resolve any differences as to outstanding carry-forward amounts.

RECAPTURE PRIVILEGES. A. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the rules set forth in this Article IX. B. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures. C. No recapture will be made [redacted], as measured from the EFFECTIVE DATE, unless the parties mutually agree to a shorter period of time. D. The recapture shall apply to all the reinsurance in force under the Agreement. E. [redacted]. The total carryforward is defined as the sum of the carryforwards of this Agreement and the complementary living benefits agreements, Agreement No. [redacted] and Agreement No. [redacted], that reinsure the same variable annuity policy forms specified in Schedule A. F. The carryforward for each Agreement is defined as the relevant period's reinsurance premium [redacted] Each period utilized for purposes of this paragraph shall be an annual period measured from the anniversary date of this Agreement, except that the final period shall be the most recent anniversary date to the date of notification of recapture. G. Upon election, [redacted] H. The CEDING COMPANY and the REINSURER agree to exchange carryforward calculations each year-end to ensure ongoing agreement on the position of the carryforward. [redacted]

RECAPTURE PRIVILEGES. I. The above provisions of the Agreement notwithstanding, recapture may also occur in accordance with the terms set forth in Article XX, Duration of Agreement and Article XXI, Special Termination or Settlement.