Remaining Outward Reinsurance Agreements Sample Clauses

Remaining Outward Reinsurance Agreements. If on or prior to the Closing Date the Seller has not, with respect to 100% of the aggregate face amount reinsured of all Reinsured Policies subject to Outward Reinsurance Agreements, either (a) effected an assignment (with or without an adjustment to the applicable premium) of the Outward Reinsurance Agreements by the Seller to ANLIC, including obtaining any consents required to effect such assignment (and, if applicable, the subsequent partial assignment by ANLIC to First SunAmerica relating to the New York Reinsured Policies on the New York Assumption Date), or (b) entered into one or more Substitute Outward Reinsurance Agreements (each Outward Reinsurance Agreement not so assigned or substituted being a "Remaining Outward Reinsurance Agreement" and the reinsurer thereunder being a "Remaining Outward Reinsurer"), the provisions of this Section 5.16 will apply. The Seller will use its commercially reasonable efforts to effect the assignment(s) or substitution of all Remaining Outward Reinsurance Agreements within 90 days after the Closing Date. At the end of such period, the Seller will, within five Business Days, pay to the Purchaser the amount that would have been added to the Outward Reinsurance Adjustment Amount with respect to the Outward Reinsurance Agreements assigned and the Substitute Outward Reinsurance Agreements effected during such period had the Outward Reinsurance Adjustment Amount been calculated as of the date such assignment or substitution became effective, together with interest thereon at a rate of 6.8% per annum from such effective date to the date of payment. If the Seller does not pay such amount within the stated time period, the Purchaser will be entitled to payment of such amount out of the Outward Reinsurance Escrow Account.
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Related to Remaining Outward Reinsurance Agreements

  • Reinsurance Agreements Promptly, notice of any material change or modification to any Reinsurance Agreements or Surplus Relief Reinsurance Agreements whether entered into before or after the Closing Date including Reinsurance Agreements, if any, which were in a runoff mode on the Closing Date, which change or modification could have a Material Adverse Effect;

  • LIFE REINSURANCE The reinsurance premiums per $1000 are shown in Schedule B. Reinsurance premiums for renewals will be calculated using (1) the issue age of the insured under the policy, (2) the duration since issuance of the policy and (3) the current underwriting classification.

  • Reinsurance Reinsurance services including, but not limited to (i) agreement to reinsurance policy and/or contract wordings and endorsements to existing policies; (ii) processing of reinsurance policy cancellations, nonrenewals and endorsements and other amendatory addenda; (iii) collection of premiums due under reinsurance policies or contracts, audits and remittances; (iv) negotiation and purchase of reinsurance coverage; (v) administration of letters of credit and other arrangements for the provision of security; and (vi) administration of reinsurance contracts.

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • Plan of Reinsurance A. Reinsurance of Life risks shall be on the risk premium basis. The risk amount on the policy reinsured shall be calculated monthly and shall be equal to the death benefit less the cash value. At the time of issue, the Ceding Company shall cede to North American Re the portion of the initial risk amount in excess of its retention. Thereafter, the Ceding Company and North American Re shall keep the same proportionate shares of the risk amount developed each month.

  • Insurance Contracts To the extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 7.06.

  • Severance Agreements (a) In the event of the termination of employment of the Executive by Horizon for any reason whatsoever other than for Cause at any time from and after the date of this Agreement or in the event of termination of employment of the Executive by the Executive with Good Reason (as defined in Section 3 hereof) at any time within the twelve (12) month period after the occurrence of a Change of Control:

  • Separate Insurance Borrower shall not take out separate insurance contributing in the event of loss with that required to be maintained pursuant to this Section 6.1 unless such insurance complies with this Section 6.1.

  • Primary Mortgage Insurance Considerations Where applicable, the Servicer shall satisfy all requirements under the applicable Primary Mortgage Insurance policy regarding the relief granted with respect to a delinquent Mortgage Loan.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

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