Assuming Company Separate Accounts definition

Assuming Company Separate Accounts means the registered separate accounts to be established by the Assuming Company to replicate the Ceding Company Separate Accounts with respect to the Novation Subject Contracts.

Examples of Assuming Company Separate Accounts in a sentence

• If adjustments to Separate Account Assets transferred to the Assuming Company Separate Accounts are required to be made through no fault of any Party, the Parties agree to share equally in the costs of such adjustments.

• Such filings will include, without limitation, filings related to the establishment by the Assuming Company of the Assuming Company Separate Accounts to mirror the existing Ceding Company Separate Accounts for the Novation Subject Contracts that constitute Variable Annuity Reinsured Contracts, new registration statements, prospectus supplements and/or disclosures relating to the Novation.

• If any act or failure to act by a Party results in delays in the transfer of Fund shares or otherwise results in adjustments having to be made to Separate Account Assets transferred to the Assuming Company Separate Accounts, such Party shall bear all costs related to such adjustments.