NOVATION AGREEMENTNovation Agreement • December 14th, 2020 • Midwest Holding Inc. • Life insurance • New York
This NOVATION AGREEMENT (this “Agreement”), dated as of December 8, 2020, is entered into by and among American Life & Security Corp., a Nebraska-domiciled insurance company (“Cedent”), Seneca Incorporated Cell, LLC 2020-02 (“Seneca Cell”), an incorporated cell of Seneca Reinsurance Company, LLC, a sponsored captive insurance company formed as a limited liability company under the laws of the State of Vermont (“Seneca Re”), and Crestline Re SPC, an exempted segregated portfolio company incorporated under the laws of the Cayman Islands, for and on behalf of Crestline Re SP 1, one of its segregated portfolios (“Newco” and, together with Cedent and Seneca Cell, each a “Party” and collectively the “Parties”), and accepted and consented to, (a) with respect to Section 2.05 only, by Seneca Re; (b) with respect to Section 2.06 only, by U.S. Bank, National Association, a national banking association, solely in its capacity as trustee under the Trust Agreement (as defined below) (the “Trustee”)
