TERMS OF REINSURANCE. AMOUNTS DUE TO THE EQUITABLE OR REINSURER............................
TERMS OF REINSURANCE. ======================= Except as otherwise specifically provided herein, all payments to or by the Reinsurer or The Equitable shall be determined on a net basis as of the last day of the [time period] to which such amount is attributable. All amounts shall be due and accrued as of such date. The payment of such amounts shall be submitted in accordance with the provisions of Paragraph 2. All settlements of account between the Reinsurer and The Equitable shall be made in cash or its equivalent.
TERMS OF REINSURANCE. The plan of reinsurance shall be yearly renewable term reinsurance of the Reinsured Net Amount at Risk of a Policy.
TERMS OF REINSURANCE. =======================
TERMS OF REINSURANCE. The plan of reinsurance shall be coinsurance of the Reinsurance Amount. Reinsurance shall follow the forms of the Policies, including but not limited to the premium structure of the Policies.
TERMS OF REINSURANCE. Amounts Due to First Golden or Reinsurer.............................
TERMS OF REINSURANCE. 1. All monetary amounts expressed in this Agreement are expressed in United States dollars and all amounts payable pursuant to this Agreement are payable in United States dollars.
2. This is an Agreement for indemnity reinsurance solely between the CEDING COMPANY and the REINSURER. The acceptance of reinsurance hereunder shall not create any right or legal relation whatever between the REINSURER and any person other than the CEDING COMPANY.
3. The REINSURER shall not participate in capital gains and losses of the CEDING COMPANY.
4. The REINSURER shall provide a Letter of Credit (as defined in section A. paragraph 6) to the CEDING COMPANY until the REINSURER becomes properly licensed to conduct business in the state of domicile of the CEDING COMPANY or becomes an accredited reinsurer therein.
(a) Such Letter of Credit will be issued in conformity with Regulation 133 of the New York State Insurance Department and may be drawn upon at any time, notwithstanding any other provisions herein, and be utilized by the CEDING COMPANY or any successor by operation of law of the CEDING COMPANY, including, without limitation, any liquidator, rehabilitator, receiver or conservator of such insurer for the following purposes: (i) to reimburse the CEDING COMPANY for
(b) All of the foregoing shall be applied without diminution because of insolvency on the part of the CEDING COMPANY or the REINSURER.
(c) Notwithstanding the above, the CEDING COMPANY shall be required to return any amounts drawn on the Letter of Credit in excess of the amounts required for subparagraphs (a)(i), (ii) and (iii) of this section, or in the case of subparagraph (a)(iv), any amounts that are subsequently determined not to be due.
5. The CEDING COMPANY may, at its sole option, recapture some or all of the business ceded under this Agreement from the REINSURER if the CEDING COMPANY increases its retention limit. The amount recaptured shall be that which causes the CEDING COMPANY to hold its full retention limit. The CEDING COMPANY shall pay to the REINSURER a fair price for the present value of future profits on the business recaptured, as the two companies shall reasonably agree. The terms and conditions of any such recapture shall be subject to review by the New York Insurance Department pursuant to Section 1505 of the New York Insurance Law.
6. If a policy lapses for nonpayment of premiums or other reason and is reinstated under the CEDING COMPANY'S terms and rules, the reinsurance will be reinstat...
TERMS OF REINSURANCE. 1. The Reinsurer shall pay the Reinsured as reinsurance recoverables the amounts of all TCA benefits paid by the Reinsured.
2. The Reinsurer shall reimburse the Reinsured for required State premium taxes and assessments, if any, applicable to a TCA.
3. The Reinsurer shall reimburse the Reinsured for any TCA interest credited after the Effective Date of this Agreement.
4. The Reinsurer shall reimburse the Reinsured for allocated TCA administrative expenses, if any, that the Reinsured incurs directly.
5. The Reinsured and Reinsurer shall timely provide the information to each other that is needed to produce quarterly and annual financial statements.
6. The Reinsured shall be solely responsible for the investigation, settlement and payment of claims under the TCAs; provided, however, that the Reinsured may enter into an Administrative Services Agreement for the provision of such functions subject to its direction and control.
7. All reinsurance settlements and other payments will be effected through offsetting balances, electronic funds transfers or as the parties may otherwise agree to carry out the purposes of this Agreement.
8. The Reinsurer shall pay to Reinsured the experience refund specified in Schedule A and the ceding commission, if any, specified therein.
9. The Reinsurer shall provide to the Reinsured a quarterly reconciliation report of amounts due the Reinsured and Reinsurer under this Agreement and, except as the parties shall otherwise agree, all amounts due shall be paid within thirty (30) days of the delivery of such report with interest on past due amounts at an annual rate of seven percent (7%), compounded annually, from the date that the payment was due to the date of payment.
TERMS OF REINSURANCE. Except as otherwise specifically provided herein, all amounts due to be paid to either RCH or American shall be determined on a net basis as of the last day of the calendar month to which such amount is attributable. All amounts shall be due and accrued as of such date. The payment of such amounts shall be submitted in accordance with the provisions of paragraph B of this article.
TERMS OF REINSURANCE. 2.1. In determining its Retention on the First-To-Die Policy, Farm Bureau shall first determine what its Retention would be on each insured under the First-To-Die Policy if each were obtaining a single life Policy. For the First-To-Die Policy, it agrees to retain the lowest amount which it could retain on either life taking into account amounts previously issued and retained on either of the insured lives.
2.2. To qualify for Automatic Reinsurance, each insured under the First-To-Die Policy must satisfy the conditions for Automatic Reinsurance as set forth in the Agreement.
2.3. Farm Bureau agrees to place reinsurance of First-To-Die Policies into effect by following the procedures set forth in the Administrative Schedule of the Agreement, except that the administrative information provided on each insured 37 shall cross reference the administrative information relating to other insureds under the First-To-Die Policy.
2.4. Reinsurance premiums shall be payable for each insured under the First-To-Die Policy. Premiums shall equal the appropriate rate from the Premium Schedule for each insured's age, sex, smoking status and underwriting classification times the Reinsured Net Amount at Risk for that insured. Such rate shall apply regardless of the Reinsurance Amount under the First-To-Die Policy.
2.5. Farm Bureau shall only pay one Policy fee, if applicable, on the First-To-Die Policy.
2.6. Upon receiving notice from Farm Bureau of the first death under the First-To-Die Policy, Lincoln shall pay Farm Bureau the Reinsured Net Amount at Risk on such insured. Lincoln shall only reimburse Farm Bureau for one death under the First-To Die Policy even if the Policy contains a Simultaneous Death benefit provision. 38 AMENDMENT to the Yearly Renewable Term Reinsurance Agreement (the "Agreement") effective March 14,1996, between FARM BUREAU LIFE INSURANCE COMPANY of West Des Moines, Iowa, hereinafter referred to as "Farm Bureau," and THE LINCOLN NATIONAL LIFE INSURANCE COMPANY of Fort Xxxxx, Indiana, hereinafter referred to as "Lincoln."
1. On and after the first day of September, 1998, the Premium Receipt Addendum of the Agreement shall be replaced with the Temporary Insurance Agreement Addendum, attached hereto.
2. It is hereby agreed that on and after the first day of September, 1998, all references to the Premium Receipt in the Agreement shall refer to the Temporary Insurance Agreement.
