Tax Reserve. The term “Tax Reserve,” as used in this Agreement, means the reserve as calculated according to the methods and valuation assumptions described in Section 807 of the Internal Revenue Code of 1986 on the portion of the annuities reinsured hereunder The Tax Reserve shall be allocated proportionately between the Coinsurance Reserve defined in Paragraph 1. above and the Modified Coinsurance Reserve defined in Paragraph 2. above. The Reinsurer shall report the portion of the Tax Reserve allocated to the Coinsurance Reserve on its tax returns and the Ceding Company shall report the portion of the Tax Reserve allocated to the Modified Coinsurance Reserve on its tax returns.
Appears in 3 contracts
Samples: Reinsurance Agreement (WRL Series Annuity Account), Reinsurance Agreement (WRL Series Annuity Account), Reinsurance Agreement (Separate Account VA AA)
Tax Reserve. The term “Tax Reserve,” as used in this Agreement, means the reserve as calculated according to the methods and valuation assumptions described in Section 807 of the Internal Revenue Code of 1986 on the portion of the annuities Annuities reinsured hereunder hereunder. The Tax Reserve shall be allocated proportionately between the Coinsurance Reserve defined in Paragraph 1. , above and the Modified #115110 2 12/30/2008 Coinsurance Reserve defined in Paragraph 2. above. The Reinsurer shall report the portion of the Tax Reserve allocated to the Coinsurance Reserve on its tax returns and the Ceding Company shall report the portion of the Tax Reserve allocated to the Modified Coinsurance Reserve on its tax returns.. #115110 3 12/30/2008
Appears in 2 contracts
Samples: Reinsurance Agreement (Separate Account Va Q), Reinsurance Agreement (Separate Account Va B)
