RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement.
Appears in 13 contracts
Samples: Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any undisputed balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement.
Appears in 2 contracts
Samples: Variable Annuity Reinsurance Agreement (Variable Separate Account of Anchor National Life Insur Co), Automatic Reinsurance Agreement (Variable Annuity Account Seven)
RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any undisputed balance or balances due one party to the other, its successors or assignees, against undisputed balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Variable Account Ii Aig Life Insurance Co)
RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to of this Agreement.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Travelers Fund Bd Iii for Variable Annuities)
RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, . against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement.
Appears in 1 contract
Samples: Automatic Reinsurance Agreement (Nationwide Variable Account 9)
