TERM OF THIS AGREEMENT AND TERMINATION. a. The Ceding Company will maintain and continue the reinsurance provided in this Agreement as long as the policy to which it relates is in force or has not been fully recaptured. This Agreement may be terminated, without cause, for the acceptance of new reinsurance after 90 days' written notice of termination by either party to the other. The Reinsurer will continue to accept reinsurance during this 90-day period. The Reinsurer's acceptance will be subject to both the terms of this Agreement and the Ceding Company's payment of applicable reinsurance premiums.
Appears in 2 contracts
Samples: Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (Jackson National Separate Account Iv), Automatic and Facultative (Jnlny Separate Account Iv)
TERM OF THIS AGREEMENT AND TERMINATION. a. The Ceding Company will maintain and continue the reinsurance provided in this Agreement as long as the policy to which it relates is in force or has not been fully recaptured. This Agreement may be terminated, without cause, for the acceptance of new reinsurance after 90 days' written notice of termination by either party to the other. The Reinsurer will continue to accept reinsurance during this 90-day period. The Reinsurer's acceptance will be subject to both the terms of this Agreement and the Ceding Company's payment of applicable reinsurance premiums. In addition, this Agreement may be terminated immediately for the acceptance of new reinsurance by either party if one of the parties materially breaches this Agreement, or becomes insolvent or financially impaired.
Appears in 2 contracts
Samples: Term Reinsurance Agreement (Farmers Variable Life Separate Account A), Automatic and Facultative Yearly Renewable Term Reinsurance Agreement (National Variable Life Insurance Account)
