Common use of Reduction and Terminations Clause in Contracts

Reduction and Terminations. If any HD GRO benefit rider is terminated or any of the underlying insurance contracts associated with the HD GRO benefit rider reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.

Appears in 3 contracts

Samples: Prudential Annuities Life Assurance Corp Variable Account B, Pruco Life Flexible Premium Variable Annuity Account, Prudential Annuities Life Assurance Corp Variable Account B

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Reduction and Terminations. If any HD GRO benefit rider is terminated or any of the underlying insurance contracts associated with the HD GRO benefit rider reinsured under this Agreement are terminated by payment of a death benefit, surrender or annuitization, the reinsurance with respect to that contract will be terminated subject to any party's right to payment under this Agreement with respect to such terminated rider.

Appears in 1 contract

Samples: Automatic Coinsurance Agreement (American Skandia Life Assur Corp Var Acct B Cl 1 Sub Accts)

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