Common use of Scope and Basis of Reinsurance Clause in Contracts

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. 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. a.m. Eastern Time 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.Cession: (ci) 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 Reinsurershall automatically cede, and the Reinsurer hereby agrees to indemnify the Ceding Company (i) shall automatically reinsure, 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 respectively based on the Allocation Percentage, the Reinsured Liabilities (100%the “Covered Business”). ​ (ii) Subject to the terms, conditions and limits of this Agreement (including the exclusion from coverage of Excluded Liabilities), the Ceding Company shall cede, and the Reinsurer shall reinsure, on a funds withheld coinsurance and a modified coinsurance basis, respectively based on the Allocation Percentage, the Reinsured Liabilities attributable to those Reinsured Policies described in clause (i) of the Separate Account Liabilities definition of the Ceding Company under the “Reinsured Policies, in each case, payable by the Ceding Company ” (the “Reinsured LiabilitiesBlock”). (dc) 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 to which the respective insurances of 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. (d) Notwithstanding anything to the contrary herein, the Reinsurer shall not be liable for any Excluded Liabilities.