Reinsurance Payable. The Cedant shall establish an account payable on its statutory books equal to the aggregate Statutory Reserves as calculated by the Cedant pursuant to Section 6.1 (the “Reinsurance Payable”). The Reinsurer shall set up a corresponding account receivable on its statutory books equal to the Reinsurance Payable.
Appears in 4 contracts
Samples: BST Modified Coinsurance Agreement (MML Bay State Variable Life Separate Account I), Modified Coinsurance Agreement (Massachusetts Mutual Variable Life Separate Account I), BST Modified Coinsurance Agreement (MML Bay State Variable Life Separate Account I)
