Reinstatements. Should a Reinsured Policy or a lapsed or surrendered policy that would otherwise have been a Reinsured Policy be reinstated in accordance with its terms and the rules of Ceding Company on and after the Effective Date, the insurance under such policy shall be reinstated automatically and the same shall be reinsured hereunder automatically. The gain/or loss on the reinstatement shall be transferred to the Reinsurer on and after the Effective Date only to the extent that Ceding Company incurred a gain or loss on the reinstatement.
Appears in 2 contracts
Samples: Service Agreement and Indemnity Combination Coinsurance Agreement (MetLife Insurance CO of Connecticut), Service Agreement (Metlife of Ct Fund Ul Iii for Variable Life Insurance)
Reinstatements. Should a Reinsured Policy Contract or a lapsed or surrendered policy contract that would otherwise have been a Reinsured Policy Contract be reinstated in accordance with its terms and the rules of Ceding Company on and after the Effective Date, the insurance under such policy shall be reinstated automatically and the same shall be reinsured hereunder automatically. The gain/or loss on the reinstatement shall be transferred to the Reinsurer on and after the Effective Date only to the extent that Ceding Company incurred a gain or loss on the reinstatement.
Appears in 2 contracts
Samples: Service Agreement and Indemnity Combination Coinsurance Agreement (MetLife Insurance CO of Connecticut), Service Agreement and Indemnity Combination Coinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities)
Reinstatements. Should a Reinsured Policy or a lapsed or surrendered policy that would otherwise have been a Reinsured Policy be reinstated in accordance with its terms and the rules of Ceding Company on and after the Effective Date, the insurance under such policy shall be reinstated automatically and the same shall be reinsured hereunder automatically. The gain/or loss Premiums and interest on the reinstatement such reinstated and reinsured policies shall be transferred payable to the Reinsurer on and after the Effective Date only to the extent that Ceding Company incurred a gain or loss is entitled to premiums and interest on the reinstatementsuch insurance.
Appears in 2 contracts
Samples: Reinsurance Agreement, Service Agreement (Hancock John Variable Life Account U)
