Common use of Regulatory Compliance and Reporting Clause in Contracts

Regulatory Compliance and Reporting. Subject to Section 2.3, upon the timely and reasonable request of the Company, the Administrator shall provide to the Company such information with respect to the Reinsured Contracts as is reasonably required to enable the Company timely to comply with regulatory and financial reporting requirements applicable to the Company from time to time. Without limiting the foregoing, the Administrator shall provide the reports and information set forth on Schedule A within the timeframes indicated therein. In addition, and without limiting the Administrator’s obligation to provide the Administrative Services hereunder, upon the timely and reasonable request of the Company, the Administrator shall promptly provide to the Company copies of all existing records relating to the Administered Business (including, with respect to records maintained in machine readable form, hard copies) that are reasonably necessary to satisfy any requirements imposed by applicable Law or any Governmental Entity upon the Company with respect to the Administered Business. All (i) such information and (ii) such records furnished in the ordinary course of business relating to the Administered Business shall be furnished at the Administrator’s sole cost and expense. Without limiting the generality of the foregoing, upon the timely and reasonable request of the Company, the Administrator shall promptly prepare and furnish to the Company all reports and related summaries (including statistical summaries) and other reports required or requested by any Governmental Entity with respect to the Administered Business. Without limiting the foregoing, (i) As soon as practicable but not more than 15 Business Days after the end of each month that this Agreement is in effect, the Administrator shall provide to the Company reports and summaries of transactions (and upon the reasonable request of the Company, detailed supporting records) related to the Reinsured Contracts as may be reasonably required for use in connection with the preparation of the Company’s GAAP and statutory financial statements (or any consolidated GAAP financial statements of the Company or its Affiliates, as applicable), including all premiums received and all benefits paid. The Parties shall cooperate in good faith to establish the manner for the providing of such reports. (ii) The Administrator shall promptly provide notice to the Company of any changes in the reserve methodology used by the Administrator in calculating statutory reserves for the Reinsured Contracts. (iii) Within thirty (30) Business Days after each calendar year end (or such longer time as may be agreed by the Parties) that this Agreement is in effect, the Administrator shall provide to the Company the customary actuarial reliance statement related to statutory reserves for the Reinsured Contracts, to support opinions prepared according to accepted Actuarial Standards of Practice to be issued by the Company, and as otherwise required for regulatory reporting purposes. The Administrator shall also provide supporting documentation as reasonably requested by the Company or as required by Governmental Entities or actuarial standards of practice. In the event that applicable Law imposes (a) a legal requirement on the Administrator, in its capacity as reinsurer under the Reinsurance Agreement or administrator under this Agreement, to provide an actuarial opinion as to the adequacy of statutory reserves for the Reinsured Contracts or (b) a legal requirement on the Company to obtain such an actuarial opinion from the Administrator in any such capacity, the Administrator shall timely provide such opinion to the Company in substantially the form required by applicable Law for its use in responding to the applicable Governmental Entity.

Regulatory Compliance and Reporting. Subject to Section 2.3, upon the timely and reasonable request of the Company, the (a) The Administrator shall provide to the Company such information with respect to the Reinsured Policies and the Subject Contracts as is reasonably required to enable satisfy all current and future informational reporting, prior approval and any other requirements imposed by any Governmental Authority. Upon the Company timely to comply with regulatory and financial reporting requirements applicable to the Company from time to time. Without limiting the foregoing, the Administrator shall provide the reports and information set forth on Schedule A within the timeframes indicated therein. In addition, and without limiting the Administrator’s obligation to provide the Administrative Services hereunder, upon the timely and reasonable request of the Company, the Administrator shall timely prepare such reports and summaries, including statistical summaries and certifications, as are necessary or reasonably required to satisfy any requirements imposed by a Governmental Authority upon the Company with respect to the Reinsured Policies and the Subject Contracts. In addition, the Administrator, upon the reasonable request of the Company, shall promptly provide to the Company copies of all existing records relating to the Administered Business Reinsured Policies and the Subject Contracts (including, with respect to records maintained in machine readable form, hard copies) that are reasonably necessary to satisfy any requirements imposed by applicable Law or any Governmental Entity upon the Company with respect to the Administered Business. All such requirements. (ib) such information and (ii) such records furnished in the ordinary course of business relating to the Administered Business shall be furnished at the Administrator’s sole cost and expense. Without limiting the generality of the foregoing, upon the timely and reasonable request of the Company, the The Administrator shall promptly prepare and furnish to the Company all reports and related summaries (including statistical summaries) ), certificates of compliance and other reports required or requested by any Governmental Entity with respect Authority and related to the Administered BusinessReinsured Policies and the Subject Contracts. Without limiting the foregoing, (i) As soon as practicable but not more than 15 Business Days after the end of each month that this Agreement is in effectWhere practicable, the Administrator shall provide to file such reports on behalf of the Company Company. Otherwise, where reasonably practicable, such reports and summaries of transactions (and upon shall be in a format so as to allow the reasonable request Company to input the data contained therein directly into the applicable reports of the Company, detailed supporting records) related to the Reinsured Contracts as may be reasonably required for use in connection with the preparation of the Company’s GAAP and statutory financial statements (or any consolidated GAAP financial statements of the Company or its Affiliates, as applicable), including all premiums received and all benefits paid. The Parties shall cooperate in good faith to establish the manner for the providing of such reports. (iic) The Administrator shall promptly provide notice to assist the Company of any changes in the reserve methodology used by the Administrator in calculating statutory reserves for the Reinsured Contracts. (iii) Within thirty (30) Business Days after each calendar year end (or such longer time as may be agreed by the Parties) that this Agreement is in effect, the Administrator shall provide to the Company the customary actuarial reliance statement related to statutory reserves for the Reinsured Contracts, to support opinions prepared according to accepted Actuarial Standards of Practice to be issued by the Company, and as otherwise required for regulatory reporting purposes. The Administrator shall also provide supporting documentation as reasonably requested by the Company or as required by Governmental Entities or actuarial standards of practice. In the event that applicable Law imposes (a) a legal requirement on the Administrator, in its capacity as reinsurer under the Reinsurance Agreement or administrator under this Agreement, to provide an actuarial opinion as to the adequacy of statutory reserves for the Reinsured Contracts or (b) a legal requirement on the Company to obtain such an actuarial opinion from the Administrator in any such capacity, the Administrator shall timely provide such opinion to cooperate with the Company in substantially doing all things necessary, proper or advisable in the form required by applicable Law for its use most expeditious manner practicable in responding to connection with any and all market conduct or other Governmental Authority examinations that include matters involving the applicable Governmental EntityReinsured Policies and the Subject Contracts.

Regulatory Compliance and Reporting. Subject to Section 2.3, upon the timely and reasonable request of the Company, the Administrator shall provide to the Company such information with respect to the Reinsured LBL Contracts and the Vermont Captive Contracts as is reasonably required to enable the Company timely to comply with regulatory and financial reporting requirements applicable to the Company from time to time, other than such regulatory and financial reporting requirements that are required because the Company or its Affiliates are subject to non-U.S. legal or regulatory requirements and industry standards. Without limiting the foregoing, the Administrator shall provide the reports and information set forth on Schedule A within the timeframes indicated therein. In addition, and without limiting the Administrator’s 's obligation to provide the Administrative Services hereunder, upon the timely and reasonable request of the Company, the Administrator shall promptly provide to the Company copies of all existing records relating to the Administered Business (including, with respect to records maintained in machine readable form, hard copies) that are reasonably necessary to satisfy any requirements imposed by applicable Applicable Law or any Governmental Entity upon the Company with respect to the Administered Business. All (i) such information and (ii) such records furnished in the ordinary course of business relating to the Administered Business shall be furnished at the Administrator’s 's sole cost and expense. Without limiting the generality of the foregoing, upon the timely and reasonable request of the Company, the Administrator shall promptly prepare and furnish to Governmental Entities, to the Company extent permitted by Applicable Law, all reports and related summaries (including statistical summaries) ), certificates of compliance and other reports required or requested by any such Governmental Entity with respect to the Administered Business, other than such reports, summaries and certificates that are required or requested because the Company or its Affiliates are subject to non-U.S. legal or regulatory requirements and industry standards. Without limiting the foregoing,: (i) As soon as practicable but not more than 15 ten (10) Business Days after the end of each month that this Agreement is in effecteffect (or, with respect to any January, within fifteen (15) Business Days after the end of such month), the Administrator shall provide to the Company reports and summaries of transactions (and upon the reasonable request of the Company, detailed supporting records) related to the Reinsured LBL Contracts and the Vermont Captive Contracts as may be reasonably required for use in connection with the preparation of the Company’s 's GAAP and statutory financial statements (or any consolidated GAAP financial statements of the Company or its Affiliates, as applicable), including all premiums received and all benefits paid. The Parties shall cooperate in good faith to establish the manner for the providing of such reports. (ii) As soon as practicable but not more than twelve (12) Business Days after the end of each calendar quarter that this Agreement is in effect, (or more frequently as mutually agreed by the Parties), the Administrator shall timely provide to the Company reports and summaries of transactions (and upon the reasonable request of the Company, detailed supporting records) related to the LBL Contracts and the Vermont Captive Contracts as may be reasonably required for use in connection with the preparation of the Company's statutory financial statements, U.S. tax returns and other required U.S. financial reports and to comply with the requirements of the U.S. regulatory authorities having jurisdiction over the Company (or any consolidated statutory financial statements, U.S. tax returns or other U.S. financial reports of the Company or its Affiliates, as applicable), including all premiums received and all benefits paid. The Parties shall cooperate in good faith to establish the manner for the providing of such reports. (iii) The Administrator shall promptly provide notice to the Company of any changes in the reserve methodology used by the Administrator in calculating statutory reserves for the Reinsured LBL Contracts and the Vermont Captive Contracts. (iiiiv) Within thirty (30) Business Days after each calendar year end (or such longer time as may be agreed by the Parties) that this Agreement is in effect, the Administrator shall provide to the Company the customary an actuarial reliance statement related to analysis of statutory reserves for the Reinsured LBL Contracts and the Vermont Captive Contracts, reasonably adequate to support opinions prepared according to accepted Actuarial Standards actuarial standards of Practice practice to be issued by the Company, and as otherwise required for regulatory reporting purposes. The Administrator shall also provide supporting documentation as reasonably requested by the Company or as required by Governmental Entities or actuarial standards of practice. In the event that applicable Applicable Law imposes (a) a legal requirement on the Administrator, in its capacity as reinsurer under the Reinsurance Agreement or administrator under this Agreement, to provide an actuarial opinion as to the adequacy of statutory reserves for the Reinsured LBL Contracts or the Vermont Captive Contracts, or (b) a legal requirement on the Company to obtain such an actuarial opinion from the Administrator in any such capacity, the Administrator shall timely provide such opinion directly to the Company applicable Governmental Entity in substantially the form required by applicable Law for its use in responding to the applicable Governmental EntityApplicable Law.

Regulatory Compliance and Reporting. Subject to Section 2.3, upon the timely and reasonable request of the Company, the Administrator The Reinsurer shall provide to the Company such information with respect to the Reinsured Contracts Policies as is reasonably required to enable satisfy all current and future informational reporting, prior approval and any other requirements imposed by any Governmental Authority. Upon the Company timely to comply with regulatory and financial reporting requirements applicable to the Company from time to time. Without limiting the foregoing, the Administrator shall provide the reports and information set forth on Schedule A within the timeframes indicated therein. In addition, and without limiting the Administrator’s obligation to provide the Administrative Services hereunder, upon the timely and reasonable request of the Company, the Administrator Reinsurer shall timely prepare such reports and summaries, including statistical summaries, as are necessary or useful to satisfy any requirements imposed by a Governmental Authority upon the Company with respect to the Reinsured Policies. In addition, the Reinsurer, upon the reasonable request of the Company shall promptly provide to the Company copies of all existing records relating to the Administered Business Reinsured Policies (including, with respect to records maintained in machine readable form, hard copies) that are reasonably necessary to satisfy any requirements imposed by applicable Law or any Governmental Entity upon the Company with respect to the Administered Businesssuch requirements. All (i) such information and (ii) such copies of records furnished in the ordinary course of business relating to the Administered Business shall be furnished by the Reinsurer at the AdministratorReinsurer’s sole cost and expensecost. Without limiting Any extraordinary costs reasonably incurred by the generality of Reinsurer in response to requests from the foregoing, upon the timely and reasonable request of Company shall be reimbursed by the Company, the Administrator . Among other responsibilities: (a) The Reinsurer shall promptly prepare and furnish to the Company Governmental Authorities all reports and related summaries (including including, without limitation, statistical summaries) ), certificates of compliance and other reports required or requested by any a Governmental Entity with respect to the Administered Business. Without limiting the foregoing,Authority. (ib) As soon as practicable but not more than 15 Business Days after the end of each month that this Agreement is in effect, the Administrator The Reinsurer shall provide to assist the Company reports and summaries of transactions (cooperate with the Company in doing all things necessary, proper or advisable, in the most expeditious manner practicable in connection with any and upon the reasonable request of the Company, detailed supporting records) related all market conduct or other Governmental Authority examinations relating to the Reinsured Contracts as may be reasonably required for use in connection with the preparation of the Company’s GAAP and statutory financial statements (or any consolidated GAAP financial statements of the Company or its Affiliates, as applicable), including all premiums received and all benefits paid. The Parties shall cooperate in good faith to establish the manner for the providing of such reportsPolicies. (ii) The Administrator shall promptly provide notice to the Company of any changes in the reserve methodology used by the Administrator in calculating statutory reserves for the Reinsured Contracts. (iii) Within thirty (30) Business Days after each calendar year end (or such longer time as may be agreed by the Parties) that this Agreement is in effect, the Administrator shall provide to the Company the customary actuarial reliance statement related to statutory reserves for the Reinsured Contracts, to support opinions prepared according to accepted Actuarial Standards of Practice to be issued by the Company, and as otherwise required for regulatory reporting purposes. The Administrator shall also provide supporting documentation as reasonably requested by the Company or as required by Governmental Entities or actuarial standards of practice. In the event that applicable Law imposes (a) a legal requirement on the Administrator, in its capacity as reinsurer under the Reinsurance Agreement or administrator under this Agreement, to provide an actuarial opinion as to the adequacy of statutory reserves for the Reinsured Contracts or (b) a legal requirement on the Company to obtain such an actuarial opinion from the Administrator in any such capacity, the Administrator shall timely provide such opinion to the Company in substantially the form required by applicable Law for its use in responding to the applicable Governmental Entity.