Right of Setoff and Recoupment. (a) Each of the Ceding Company and the Reinsurer shall have, and may exercise at any time and from time to time, the right to setoff or recoup any undisputed balance or balances, whether on account of Reinsurance Premiums, allowances, credits, Reinsured Liabilities or otherwise, due from one party to the other under this Agreement and may setoff or recoup such balance or balances against any balance or balances due to the former from the latter under this Agreement. (b) The parties’ setoff rights may be enforced notwithstanding any other provision of this Agreement including the provisions of Article XIV.
Appears in 4 contracts
Samples: Modified Coinsurance Agreement (Athene Holding LTD), Reinsurance Agreement (Athene Holding LTD), Modified Coinsurance Agreement (Athene Holding LTD)
Right of Setoff and Recoupment. (a) Each of the Ceding Company and the Reinsurer shall have, and may exercise at any time and from time to time, the right to setoff or recoup any undisputed balance or balances, whether on account of Reinsurance Premiums, allowances, credits, Reinsured Liabilities or otherwise, due from one party to the other under this Agreement and may setoff or recoup such balance or balances against any balance or balances due to the former from the latter under this Agreement.
(b) The parties’ setoff rights may be enforced notwithstanding any other provision of this Agreement including the provisions of Article XIV.
Appears in 4 contracts
Samples: Funds Withheld Coinsurance and Modified Coinsurance Agreement (Midwest Holding Inc.), Funds Withheld Coinsurance and Modified Coinsurance Agreement (Midwest Holding Inc.), Coinsurance Agreement (US Alliance Corp)
Right of Setoff and Recoupment. (a) Each of the Ceding Company and the Reinsurer shall have, and may exercise at any time and from time to time, the right to setoff or recoup any undisputed balance or balances, whether on account of Reinsurance Premiums, allowances, credits, Reinsured Liabilities or otherwise, due from one party to the other under this Agreement and may setoff or recoup such balance or balances against any balance or balances due to the former from the latter under this Agreement.
(b) The parties’ setoff rights may be enforced notwithstanding any other provision of this Agreement including the provisions of Article XIV.
Appears in 2 contracts
Samples: Funds Withheld Coinsurance Agreement (National Western Life Group, Inc.), Funds Withheld Coinsurance Agreement (National Western Life Group, Inc.)
Right of Setoff and Recoupment.
(a) Each of the Ceding Company and the Reinsurer shall have, and may exercise at any time and from time to time, the right to setoff or recoup any undisputed balance or balances, whether on account of Reinsurance Premiums, allowances, credits, Reinsured Liabilities or otherwise, due from one party to the other under this Agreement and may setoff or recoup such balance or balances against any balance or balances due to the former from the latter under this Agreement..
(b) The parties’ setoff rights may be enforced notwithstanding any other provision of this Agreement including the provisions of Article XIV.
Appears in 1 contract
