SERVICE OF SUIT. Section 15.1. In the event of the failure of the Reinsurer to perform its obligations hereunder, the Reinsurer, at the request of the Company, shall submit to the jurisdiction of a court of competent jurisdiction. Nothing in this Article constitutes or should be understood to constitute a waiver of the Reinsurer’s right to commence an action in any court of competent jurisdiction, to remove an action or to seek a transfer of a case to another court as permitted by law. The Reinsurer, once the appropriate court is selected, whether such court is the one originally chosen by the Company and accepted by the Reinsurer or is determined by removal, transfer or otherwise, as provided for above, shall comply with all requirements necessary to give said court jurisdiction and, in any suit instituted against the Reinsurer upon this Agreement, shall abide by the final decision of such court or of any appellate court in the event of appeal. This Article shall not be read to conflict with or override the obligations of the parties to arbitrate their disputes as provided in Article IX.
Appears in 15 contracts
Samples: Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance and Modified Coinsurance Agreement (MEMBERS Life Insurance Co), Coinsurance Agreement (MEMBERS Life Insurance Co)
