Scope and Basis of Reinsurance. (a) This Agreement shall be effective as of 12:00:01 a.m. Eastern Time on the Effective Date.
Scope and Basis of Reinsurance. (a) This Agreement shall be effective as of 12:00:01 A.M. on the Effective Date.
(b) This Agreement is an agreement for funds withheld coinsurance and modified coinsurance made solely between the Ceding Company and the Reinsurer.
(c) Subject to the terms, conditions and limits of this Agreement (including the exclusion from coverage of Excluded Liabilities), the Ceding Company hereby cedes to the Reinsurer, and the Reinsurer hereby agrees to indemnify the Ceding Company (i) on a funds withheld coinsurance basis, for one hundred percent (100%) of the General Account Liabilities of the Ceding Company under the Reinsured Policies and (ii) on a modified coinsurance basis, for one hundred percent (100%) of the Separate Account Liabilities of the Ceding Company under the Reinsured Policies, in each case, payable by the Ceding Company (the “Reinsured Liabilities”).
(d) Subject to the terms, conditions and limits of this Agreement (including the exclusion from coverage of Excluded Liabilities), the Reinsurer shall follow the fortunes of the Ceding Company, and to that end the Reinsurer’s liability for the Reinsured Policies shall be identical to that of the Ceding Company and shall be subject to the same risks, terms, conditions, interpretations, waivers, modifications, alterations and cancellations as the respective insurances of the Ceding Company.
Scope and Basis of Reinsurance. (a) This Agreement shall be effective as of 12:00:01 a.m. Eastern Time on the Effective Date.
(b) This Agreement is an agreement for indemnity reinsurance made solely between the Ceding Company and the Reinsurer.
(c) Subject to the terms, conditions and limits of this Agreement (including the exclusion from coverage of Excluded Liabilities), the Ceding Company shall automatically cede and the Reinsurer shall automatically reinsure, on a modified coinsurance basis, the Reinsured Liabilities.
(d) Subject to the terms, conditions and limits of this Agreement (including the exclusion from coverage of Excluded Liabilities), the Reinsurer shall follow the fortunes of the Ceding Company, and to that end the Reinsurer’s liability for the Reinsured Policies shall be identical to that of the Ceding Company and shall be subject to the same risks, terms, conditions, interpretations, waivers, modifications, alterations and cancellations to which the Ceding Company is subject with respect to the Reinsured Policies, subject in each case to the Ceding Company’s duty to adhere to its obligations pursuant to Article X.
(e) Notwithstanding anything to the contrary herein, the Reinsurer shall not be liable for any Excluded Liabilities.
Scope and Basis of Reinsurance. This Agreement applies to each and every of the Policies (a) issued by the Company and in force as of the Effective Time (the “Existing Direct Reinsured Policies”), (b) issued by the Company after the Effective Time in accordance with Section 5.4, 5.5(a) and 5.6 hereof (the “New Direct Reinsured Policies” and, together with the Existing Direct Reinsured Policies, the “Direct Reinsured Policies”), (c) reinsured by the Company under the terms of any Assumed Reinsurance Agreement as of the Effective Time (the “Existing Indirect Reinsured Policies”) and (d) reinsured by the Company after the Effective Time pursuant to the terms of any of the Assumed Reinsurance Agreements (the “New Indirect Reinsured Policies”, together with the Existing Indirect Reinsured Policies, the “Indirect Reinsured Policies” and the Indirect Reinsured Policies together with the Direct Reinsured Policies, the “Reinsured Policies”). Except as expressly provided herein, this Agreement does not reinsure any Policy written by the Company, or as to which the Company otherwise incurs or assumes liability, after the Effective Time.
Scope and Basis of Reinsurance. The reinsurance provided under this Agreement applies to all Indy Life Closed Block Policies that are (a) issued by the Company and in force as of the Effective Time, (b) reinsured by the Company under the terms of any Assumed Reinsurance Agreement as of the Effective Time, and (c) reinstated by the Company in accordance with Section 5.4 hereof (collectively, the “Reinsured Policies”).
Scope and Basis of Reinsurance. The reinsurance provided under this Agreement applies to all Policies, other than Novated Contracts, that are (a) issued by the Company and in force as of the Effective Time, (b) issued by the Company after the Effective Time in accordance with Section 5.6 hereof, (c) reinsured by the Company under the terms of any Assumed Reinsurance Agreement as of the Effective Time, and (d) reinstated by the Company in accordance with Section 5.4 hereof (collectively, the “Reinsured Policies”); provided, that “Reinsured Policies” shall not include any Supplementary Contracts or any Policies that have been subject to an Annuitization in accordance with Section 5.5(c).
Scope and Basis of Reinsurance. The reinsurance provided under this Agreement applies to all Policies (collectively, the “Reinsured Policies”).
Scope and Basis of Reinsurance. Subject to the terms and conditions of this Agreement, the Company hereby cedes to the Reinsurer as of the Effective Date, and the Reinsurer hereby accepts and agrees to indemnity reinsure one hundred percent (100%) of the following liabilities, on the following bases:
(a) All Separate Account Liabilities included in the Reinsured Liabilities of the Direct Business are reinsured on a modified coinsurance basis;
(b) All General Account Liabilities included in the Reinsured Liabilities of the Direct Business are reinsured on a modified coinsurance basis;
(c) All Separate Account Liabilities included in the Reinsured Liabilities of the Indirect Business are reinsured on a modified coinsurance basis; and
(d) All General Account Liabilities included in the Reinsured Liabilities of the Indirect Business are reinsured on a modified coinsurance basis.
Scope and Basis of Reinsurance. The reinsurance provided under this Agreement applies to all Policies (collectively, the “Reinsured Policies”); provided, that “Reinsured Policies” shall not include any Supplementary Contracts or any Policies that have been subject to an Annuitization in accordance with Section 5.5(c).
Scope and Basis of Reinsurance. (a) This Agreement shall be effective as of the Effective Time.
(b) This Agreement is an agreement for indemnity reinsurance made solely between the Ceding Company and the Reinsurer.
(c) Subject to the terms, conditions and limits of this Agreement, the Ceding Company shall automatically cede, and the Reinsurer shall automatically reinsure, on a coinsurance with funds withheld basis, the Reinsured Liabilities. In addition to the Reinsured Liabilities, the Reinsurer assumes, and agrees to indemnify and hold the Ceding Company harmless for, all Reinsurer Extra-Contractual Obligations.
(d) Subject to the terms, conditions and limits of this Agreement, the Reinsurer shall follow the fortunes of the Ceding Company with respect to the Reinsured Liabilities and Reinsured Policies, and to that end the Reinsurer’s liability for the Reinsured Policies shall commence after the Effective Time and shall be subject in all respects to the same risks, terms, rates, conditions, interpretations, waivers, modifications, alterations, cancellations, proportions of premiums paid to the Ceding Company with respect to the Reinsured Liabilities and the Reinsured Policies.
(e) Notwithstanding anything to the contrary herein, the Reinsurer shall not be liable for any Excluded Liabilities.
