Common use of Reductions and Terminations Clause in Contracts

Reductions and Terminations. 1. For any life reinsured under a Reinsured Policy, in the event of a reduction, lapse, or termination of (x) a Reinsured Policy under this Agreement or (y) any other policy, the Ceding Company will reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must be reduced, effective on the same date, by the amount required such that the Ceding Company maintains the same amount as retained prior to a reduction, termination or lapse. 2. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If a fully retained policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy or policies will be terminated. 3. Generali USA will refund any unearned reinsurance premiums net of allowances. However, the reinsured portion of any policy fee will be deemed earned for a policy year if the policy is reinsured during any portion of that policy year.

Reductions and Terminations. 1. a) For any life reinsured under a Reinsured Policy, in the event of a reduction, lapse, or termination of (x) a Reinsured Policy under this Agreement or (y) any other policy, the Ceding Company will reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must be reduced, effective on the same date, by the amount required such that the Ceding Company maintains the same amount as retained prior to a reduction, termination or lapse. 2. b) The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies Reinsured Policies on the life, beginning with the oldest policy. If a fully retained policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy or policies will be terminated. 3. Generali USA c) The Reinsurer will refund any unearned reinsurance premiums net of allowances. However, the reinsured portion of any policy fee will be deemed earned for a policy year if the policy is reinsured during any portion of that policy year.

Reductions and Terminations. 1. For any life reinsured under a Reinsured Policy, in In the event of a reduction, lapse, the lapse or termination of (x) a Reinsured Policy or Policies reinsured under this Agreement, the Ceding Company will terminate the reinsurance on that life. In the event of the reduction of a Policy or Policies reinsured under this Agreement or (y) any other policyagreement, the Ceding Company will reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must will be reduced, effective on the same date, date by the amount required such that the Ceding Company maintains the same amount its retention as retained prior to a reduction, termination or lapse. 2defined in this Agreement. The reinsurance reduction will apply first to the policy Policy or policies Policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If a fully retained policy Policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy Policy or policies Policies will be terminated. 3. Generali USA Munich Re, U.S. (Life) will refund any unearned reinsurance premiums net of allowances. However, the reinsured portion of any policy Policy fee will be deemed earned for a policy Policy year if the policy Policy is reinsured during any portion of that policy Policy year.

Reductions and Terminations. 1. For any life reinsured under a Reinsured Policy, in In the event of a reduction, lapse, the lapse or termination of (x) a Reinsured Policy or Policies reinsured under this Agreement or (y) any other policyAgreement, the Ceding Company will terminate the reinsurance on that life. In the event of the reduction of a Policy or Policies reinsured under this Agreement or any other agreement, the Ceding Company will, reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must will be reduced, effective on the same date, by the amount required such that the Ceding Company maintains the same amount its retention as retained prior to a reduction, termination or lapse. 2defined under this Agreement. The reinsurance reduction will apply first to the policy Policy or policies Policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If a fully retained policy Policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy or policies will be terminated. 3. Generali USA Munich Re will refund any unearned reinsurance premiums net of allowances. However, the reinsured portion of any policy fee will be deemed earned for a policy year if the policy is reinsured during any portion of that policy year.

Reductions and Terminations. 1. For any life reinsured under a Reinsured Policy, in In the event of a the reduction, lapse, lapse or termination of (x) a Reinsured Policy under this Agreement or (y) any other reinsured policy, the Ceding Company will will, in order to maintain its full retention, reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must be reduced, effective on the same date. If reinsurance is on an excess basis, the reinsured amount will be reduced by the full amount required such that of the Ceding Company maintains the same amount as retained prior to a reduction, termination or lapse. 2. The reinsurance reduction will apply first to the policy or policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If a fully retained policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy or policies will be terminated. 3. Generali USA If there is more than one reinsured policy on the life, the reinsurance reduction will apply first to the policy being reduced and then, on a chronological basis, to other reinsured policies on the life commencing with the oldest policy. Termination or reduction of a fully retained policy will cause a corresponding reduction in existing reinsurance on that life, with the oldest policy being reduced first. If reinsurance is on a Quota Share basis, the amount reinsured and the amount retained by the Company will be reduced proportionately. The Reinsurer will refund any unearned reinsurance premiums net of allowancespremiums. However, the reinsured portion of any policy fee fees will be deemed earned for a policy year if the policy is reinsured during any portion of that policy year.

Reductions and Terminations. 1. For any life reinsured under a Reinsured Policy, in In the event of a reduction, lapse, the lapse or termination of (x) a Reinsured Policy or Policies reinsured under this Agreement, the Ceding Company will terminate the reinsurance on that life. In the event of the reduction of a Policy or Policies reinsured under this Agreement or (y) any other policyagreement, the Ceding Company will reduce or terminate reinsurance on that life. The reinsured amount on the life with all reinsurers must will be reduced, effective on the same date, by the amount required such that the Ceding Company maintains the same amount its Ceding Company Retention as retained prior to a reduction, termination or lapse. 2defined under this Agreement. The reinsurance reduction will apply first to the policy Policy or policies Policies being reduced and then, on a chronological basis, to other reinsured policies on the life, beginning with the oldest policy. If a fully retained policy Policy on a life that is reinsured under this Agreement is terminated or reduced, the Ceding Company will reduce the existing reinsurance on that life by a corresponding amount, with the reinsurance on the oldest policy being reduced first. If the amount of reduction exceeds the risk amount reinsured, the reinsurance on the policy Policy or policies Policies will be terminated. 3. Generali USA MARC will refund any unearned reinsurance premiums net of allowances. However, the reinsured portion of any policy fee will be deemed earned for a policy year if the policy Policy is reinsured during any portion of that policy year.