Common use of REINSURANCE BASIS Clause in Contracts

REINSURANCE BASIS. Subject to the terms and conditions of this Agreement, the Ceding Company hereby cedes to the Reinsurer, and the Reinsurer hereby accepts and agrees to reinsure, on an indemnity basis, the Reinsured Liabilities on a coinsurance basis. The reinsurance effected under this Agreement shall be maintained in force, without reduction, as long as the Ceding Company has any liabilities or obligations with respect to the Reinsured Policies, unless such reinsurance is terminated as provided herein.

REINSURANCE BASIS. Subject to the terms and conditions of this Agreement, the Ceding Company hereby cedes to the Reinsurer, and the Reinsurer hereby accepts and agrees to reinsure, on an indemnity basis, the Reinsured Liabilities on a coinsurance basisbasis with respect to the Coinsurance Liabilities and a modified coinsurance basis with respect to the Modco Liabilities. The reinsurance effected under this Agreement shall be maintained in force, without reduction, as long as the Ceding Company has any liabilities or obligations with respect to the Reinsured Policies, unless such reinsurance is terminated as provided herein.