Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the risks on the statement by giving the Reinsured thirty (30) days’ written notice. As of the close of this thirty-day period, all of the Reinsurer’s liability shall terminate for: i) The risks described in the preceding sentence and ii) The risks where the reinsurance premiums became delinquent during the thirty-day period. b) Regardless of these terminations, the Reinsured shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 4 contracts
Samples: Coinsurance Funds Withheld Reinsurance Agreement, Reinsurance Agreement (Symetra Financial CORP), Reinsurance Agreement (Symetra Financial CORP)
Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on the statement by giving the Reinsured Ceding Company thirty (30) days’ calendar days written notice. As of the close of this thirty-day period, all of the Reinsurer’s 's liability shall terminate for:
i) The risks described in the preceding sentence and
ii) The risks where the reinsurance premiums became delinquent during the thirty-day period.
b) Regardless of these terminations, the Reinsured Ceding Company shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 3 contracts
Samples: Yrt Agreement (Nationwide Provident Vli Separate Account 1), Yrt Agreement (Nationwide Provident Vli Separate Account 1), Yrt Agreement (Nationwide Provident Vli Separate Account A)
Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on the statement by giving the Reinsured Ceding Company thirty (30) days’ ' written notice. As of the close of this thirty-day period, all of the Reinsurer’s 's liability shall terminate for:
i) The risks described in the preceding sentence and
ii) The risks where the reinsurance premiums became delinquent during the thirty-day period.
b) Regardless of these terminations, the Reinsured Ceding Company shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 2 contracts
Samples: Reinsurance Agreement (Jnlny Separate Account Iv), Reinsurance Agreement (Jackson National Separate Account Iv)
Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on the statement by giving the Reinsured Ceding Company thirty (30) days’ days written notice. As of the close of this thirty-day period, all of the Reinsurer’s 's liability shall terminate for:
i) The risks described in the preceding sentence and
ii) The risks where the reinsurance premiums became delinquent during the thirty-day period.
b) Regardless of these terminations, the Reinsured Ceding Company shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 2 contracts
Samples: Assignment, Transfer and Novation Agreement (Ameritas Variable Separate Account V), Coinsurance Agreement (Cuna Mutual Variable Life Insurance Account)
Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the risks on the statement by giving the Reinsured Ceding Company thirty (30) days’ written notice. As of the close of this thirty-day period, all of the Reinsurer’s liability shall terminate for:
i) The risks described in the preceding sentence and
ii) The risks where the reinsurance premiums became delinquent during the thirty-day period.
b) Regardless of these terminations, the Reinsured Ceding Company shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 2 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement (WRL Series Annuity Account)
Termination Because of Non-Payment of Premium. a) When reinsurance premiums are delinquent, the Reinsurer has the right to terminate the reinsurance risks on the statement by giving the Reinsured Ceding Company thirty (30) days’ days written notice. As of the close of this thirty-day period, all of the Reinsurer’s liability shall terminate for:
i) The risks described in the preceding sentence and
ii) The risks where the reinsurance premiums became delinquent during the thirty-day period.
b) Regardless of these terminations, the Reinsured Ceding Company shall continue to be liable to the Reinsurer for all unpaid reinsurance premiums earned by the Reinsurer.
Appears in 2 contracts
Samples: Coinsurance Agreement (Thrivent Variable Life Account I), Coinsurance Agreement (Thrivent Variable Life Account I)
