Declared Rate Separate Account Liabilities definition

Declared Rate Separate Account Liabilities means for the Declared Rate Separate Account(s), all liabilities, reserves, obligations, costs and expenses relating to, based upon or arising out of the Policies, and relating to the Declared Rate Separate Account Assets, provided, however, that the Declared Rate Separate Account Liabilities shall not include the General Account Liabilities, Risk Control Account Separate Account Liabilities or Variable Separate Account Liabilities
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Declared Rate Separate Account Liabilities means for the Declared Rate Separate Account(s), all liabilities, reserves, obligations, costs and expenses relating to, based upon or arising out of the Policies, and relating to the Declared Rate Separate Account Assets, provided, however, that the Declared Rate Separate Account Liabilities shall not include the General Account Liabilities, Risk Control Account Separate Account Liabilities or Variable Separate Account Liabilities “Effective Date” means 12:01 a.m., Central Standard Time, on February 4, 2021. “Extra Contractual Obligations” means all liabilities, expenses or other obligations arising out of or relating to the Policies, exclusive of liabilities, expenses or other obligations arising under the express terms and conditions of the Policies, the General Account Liabilities, the Risk Control Separate Account Liabilities Declared Rate Separate Account Liabilities and the Variable Separate Account Liabilities, but including any liability for fines, penalties, forfeitures, punitive, special, exemplary or other form of extra- contractual damages, which liabilities or obligations arise from any act, error or omission, whether or not intentional, negligent, in bad faith or otherwise relating to: (a) the marketing, sale, underwriting, issuance or administration of the Policies; (b) the investigation, defense, trial, settlement or handling of claims, benefits or payments under the Policies; or (c) the failure to pay, the delay in payment, or errors in calculating or administering the payment of benefits, claims or any other amounts due or alleged to be due under or in connection with the Policies. “Fund Participation Agreements” shall mean any and all agreements by and between the Company and investment management companies which provide funding vehicles for the Variable Separate Account. “General Account” means the general investment account of the Company. “General Account Liabilities” means all liabilities, reserves, obligations, costs and expenses relating to, based upon or arising out of the Policies, whether incurred prior to, on or after the Effective Date, including amounts held in the Holding Account, after applying the effect of any Hedging Arrangements maintained by or for the benefit of the Company with respect to the General Account Liabilities; provided, however, that the General Account Liabilities shall not include the Variable Separate Account Liabilities, Declared Rate Separate Account or the Risk Control Separate Account Liabilities. ...
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Examples of Declared Rate Separate Account Liabilities in a sentence

  • The Reinsurer shall have the authority to manage, substitute and re-invest assets held in the Reinsurer’s Separate Accounts at its discretion, provided that (a) all assets held in, allocated to or transferred to the Reinsurer’s Separate Accounts shall comply at all times with the Investment Guidelines, and (b) the aggregate value of assets held in the Reinsurer’s Separate Accounts shall at all times be no less than the Risk Control Separate Account and the Declared Rate Separate Account Liabilities.

Related to Declared Rate Separate Account Liabilities

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.