Coinsured Contracts definition

Coinsured Contracts means (i) the In-Force Contracts, and (ii) the Post-Closing Contracts.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Coinsured Contracts means all (i) insurance policies, certificates and contracts sold, issued, renewed or reinstated by the Ceding Company prior to the Reinsurance Closing Date, and any sales, issuances, renewals or reinstatements thereof prior to the Reinsurance Closing Date, in each case, that are described by policy product code and number on Schedule A, and (ii) insurance policies, certificates and contracts described in subpart (i) immediately above but that are issued, renewed or reinstated by (x) the Ceding Company from and after the Reinsurance Closing Date but prior to the Administrative Transfer Date, and any sales, issuances, renewals or reinstatements thereof from and after the Reinsurance Closing Date but prior to the Administrative Transfer Date, and (y) the Reinsurer in the Ceding Company’s name in accordance with the terms and conditions of this Agreement including Section 3.6(a), from and after the Administrative Transfer Date. For the avoidance of doubt, (i) any policy or contract issued in connection with a Coinsured Contract, including in connection with any continuation of insurance, conversion and/or portability provisions set forth in the Coinsured Contracts, whether prior to, on or after the Reinsurance Closing Date, will be deemed a “Coinsured Contract” under this Agreement and coinsured by the Reinsurer as provided in this Agreement.

Coinsured Contracts means all group annuity contracts of the types ------------------- which are described on Schedule 1.01 hereto and issued by UNUM after the date hereof pursuant to the written request of Lincoln prior to the date which is 18 months from the date hereof (unless extended by the written consent of the parties hereto) in any of the states listed on Schedule 1.02 hereto, and all certificates and participation agreements issued in accordance with the terms of such group annuity contracts (including all supplements, endorsements, riders and ancillary agreements in connection therewith).

Examples of Coinsured Contracts in a sentence

Cedent, on its own initiative, shall not change (a) the terms and conditions of any Coinsured Contracts or (b) the assumptions and methods used by Cedent to establish the General Account Reserves.
As specified in Section 6.02 hereof, Cedent shall, from and after the Recapture Date, be entitled to receive and retain all contract loan repayments under the Coinsured Contracts that have not expired.
The aggregate amount of such calculations for all categories of Coinsured Contracts for a taxable year (whether positive or negative) is the DAC Adjustment for the year.
This Agreement shall apply to Coinsured Contracts covering lives and risks wherever resident or situated.
In the event that the Coinsured Contracts that have not expired are recaptured pursuant to this Article III, a net accounting and settlement with respect to the General Account Liabilities relating to Coinsured Contracts that have not expired shall be undertaken by the parties hereto pursuant to the provisions set forth below in this Section 3.02.
Reinsurer shall provide Cedent its allocation of the Ceding Commission among the life insurance and non-cancelable disability insurance, other health insurance, and annuity contracts included in the Coinsured Contracts.
The reinsurance provided under this Agreement shall terminate as to each Coinsured Contract on any date as of which such Coinsured Contract is recaptured as provided below in this Article III, but shall otherwise continue indefinitely as to all Coinsured Contracts.
As consideration for the reinsurance ceded by Cedent to Reinsurer of the Coinsured Contracts and the acquisition by Reinsurer of rights in respect of such Coinsured Contracts, Reinsurer shall pay Cedent the Ceding Commission as of the Effective Date by including such amount in the Purchase Price (as defined in the Acquisition Agreement) payable by Reinsurer on the Closing Date under the Acquisition Agreement.
This Agreement shall commence on the date of its execution and continue until such time as none of the Coinsured Contracts remains in force and no further Administrative Services in respect of the Coinsured Contracts are required, or until it is terminated under Section 8.02.
The result for a category, whether positive or negative, is then multiplied by the quotient of: tr/(1-(tr x (1+Y))), where tr = the maximum applicable marginal corporate federal income tax rate (as defined in Section 11(b)(1)(D) of the Code) for the taxable year, and Y = the applicable percentage set forth in Section 848(c)(1) for such category of Coinsured Contracts.

More Definitions of Coinsured Contracts

Coinsured Contracts shall have the same meaning as the term "Coinsured Contracts" set forth in the CLIC Indemnity Reinsurance Agreement (which term, for the avoidance of doubt, includes policies and contracts funded by the CLIC Separate Accounts and issued by CLIC through CIGNA's Individual Insurance Division). "Contractholder" means the holder of any Contract.

Coinsured Contracts shall have the same meaning as the term "Coinsured Contracts" set forth in the Indemnity Reinsurance Agreement (which term, for the avoidance of doubt, includes the policies and contracts funded by the Seller Separate Accounts and owned by residents of jurisdictions other than the State of New York and issued by Seller through CIGNA's Individual Insurance Division).

Coinsured Contracts shall have the meaning set forth in the Indemnity Reinsurance Agreement.

Coinsured Contracts shall have the meaning set forth in the Indemnity Reinsurance Agreement (which term, for the avoidance of doubt, includes policies and contracts owned by residents of the State of New York that are funded by the Seller Separate Accounts).

Coinsured Contracts means (i) the In-Force Contracts, and (ii) the Post-Closing Contracts. “COLI Business” shall have the meaning as set forth in the Acquisition Agreement. “Connecticut SAP” means the statutory accounting principles and practices prescribed or permitted by the Insurance Department of the State of Connecticut as applied on a basis consistent with those utilized in the preparation of 1996 Annual Statements of Cedent submitted to the Insurance Department of the State of Connecticut. “Contractholder” shall mean the holder of any Coinsured Contract. “DAC Adjustment” shall have the meaning set forth in Section 12.02(a) hereof. “Effective Date” shall have the meaning set forth in Article II hereof. “Extra Contractual Obligations” means all liabilities for compensatory, consequential, exemplary, punitive or similar damages which relate to or arise in connection with any alleged or actual act, error or omission by Cedent or any of its Affiliates prior to the Effective Date hereof, whether intentional or otherwise, or from any reckless conduct or bad faith by Cedent or any of its Affiliates prior to the Effective Date hereof, or in connection with any such alleged or actual act, error or omission on and after the Effective Date hereof by the Reinsurer or any of its Affiliates acting on behalf of Cedent or any of its Affiliates pursuant to this Agreement or otherwise, in each case whether in connection with the handling of any claim under any of the Coinsured Contracts or in connection with the issuance, delivery, cancellation or administration of any of the Coinsured Contracts; provided, that no Section 10.04 Seller Obligation, as such term is defined in the Acquisition Agreement, shall be deemed to be an Extra Contractual Obligation. “Final Recapture Statement” shall have the meaning set forth in Section 3.02(d) hereof. “General Account Liabilities” means all general account insurance liabilities and obligations arising under the Coinsured Contracts, including, without limitation (i) the General Account Reserves, (ii) the amounts included in lines 12, 12a, 19, and 25 of the Liabilities, Surplus and Other Funds page of the NAIC Annual Statement Blank (1996 format), (iii) any Extra Contractual Obligations, (iv) liabilities and obligations associated with Cedent’s separate account SA-8T, (v) premium taxes due in respect of premiums, deposits and other consideration paid on or after the Effective Date with respect to the Coinsured Contracts and (vi) guaranty fund or other...

Coinsured Contracts means all individual and group fixed universal life insurance policies and contracts delivered or issued for delivery by Sellers prior to the Effective Date to persons in any state of the United States, the District of Columbia or Puerto Rico and individually identified on Schedule 1.01(e) hereto and in effect on the Effective Date and, with respect to the group universal life insurance policies, all certificates and employer participation agreements in effect as of the Effective Date issued in accordance with the terms of such policies and contracts identified on Schedule 1.01(e) hereto, contractually required reinstatements of such policies, contracts, certificates and agreements after the Effective Date; universal life insurance policies and contracts issued after the Effective Date pursuant to the exercise of options provided in universal life insurance policies and contracts in effect on the Effective Date (including, in each case, all supplements, endorsements, riders and ancillary agreements in connection therewith); but not including policies identified in Schedule 1.01(a), [*] (although such policies identified in Schedule 1.01(a) hereto will be included in the policies to be covered under the Administrative Services Agreements and the Transition Servicing Agreement at a price of $[*] per policy per year).