Examples of Coinsurance Effective Date in a sentence
In the event the Ceding Company is required to pay an assessment in respect of the Policies to any insurance guaranty, insolvency or other similar fund maintained by any jurisdiction and such assessment is based on premiums collected or policies in full force in any period on or after the Coinsurance Effective Date, the portion, if any, of such assessment that relates to such Policies shall be reimbursed by the Reinsurer to the extent that no Premium Tax offsets are available for use by the Ceding Company.
The Reinsurer shall pay to the Ceding Company a provision for Premium Taxes incurred in connection with premiums received under the Policies on or after the Coinsurance Effective Date.
In the event the Reinsurer is required to pay an assessment in respect of the Policies to any insurance guaranty, insolvency or other similar fund maintained by any jurisdiction and such assessment is based on premiums collected or policies in force in any period prior to the Coinsurance Effective Date, the portion, if any, of such assessment that relates to such Policies shall be reimbursed by the Ceding Company to the extent that no Premium Tax offsets are available for use by the Reinsurer.
The Ceding Company shall be liable for all Premium Taxes on premiums received in connection with the Policies prior to the Coinsurance Effective Date and shall remain liable for payment of Premium Taxes on premiums received under the Policies.
The Reinsurer agrees that, on and after the Coinsurance Effective Date, it will establish and maintain all statutory reserves and liabilities as may be required under the terms of the Policies, SAP and Applicable Law.
The Ceding Company and the Reinsurer mutually agree that, as between the parties, on and after the Coinsurance Effective Date, the Reinsurer shall be entitled to exercise all contractual rights and privileges of the Ceding Company under the Policies in accordance with the terms, provisions and conditions of such Policies.
This Agreement will commence on the Coinsurance Effective Date and run indefinitely unless earlier terminated as provided in ARTICLE XXX (the “Term”).
The Parties intend that the Reinsured will receive, from and after the Coinsurance Effective Date, full statutory reserve financial statement credit for the reinsurance provided under this Agreement in the Reinsured’s state of domicile.
The coinsurance provided for hereunder shall be effective as of the Coinsurance Effective Date.
It is understood and mutually agreed as between the Reinsurer, on the one hand, and the Reinsured and its insurance-issuing affiliates on the other hand, the list of all such entities being, as of the Coinsurance Effective Date: Oscar Insurance Corporation, Oscar Garden State Insurance Corporation, Oscar Insurance Company, Oscar Health Plan of California, Oscar Buckeye State Insurance Corporation, Oscar Insurance Company of Florida, and Oscar Health Plan, Inc.