Examples of Reinsurance Effective Date in a sentence
Reinsurer shall be responsible for the calculation and reimbursement to Ceding Company for its payment of all Premium Taxes imposed after the Reinsurance Effective Date with respect to the Annuity Contracts or this Agreement.
Subject to the terms and conditions of this Agreement, effective as of the Reinsurance Effective Date, upon the Closing Ceding Company shall cede on a modified coinsurance basis to Reinsurer, and Reinsurer shall accept and agree to reinsure on a modified coinsurance basis, one hundred percent (100%) of all Separate Account Reinsured Liabilities.
Subject to the terms and conditions of this Agreement, effective as of the Reinsurance Effective Date, upon the Closing, Ceding Company shall cede on a coinsurance basis to Reinsurer, and Reinsurer shall accept and agree to reinsure on a coinsurance basis, one hundred percent (100%) of all General Account Reinsured Liabilities.
On or after the Reinsurance Effective Date, Ceding Company shall issue on its own paper each Annuity Contract arising as a result of the Variable Annuitizations or the Fixed Annuitizations at rates in accordance with the terms of the Annuity Contracts or at rates otherwise used by Ceding Company for comparable annuity contracts.
Subject to all of the provisions set forth herein, this Reinsurance Agreement shall be effective as of the Reinsurance Effective Date and shall remain in effect so long as there are any outstanding Policy Liabilities or until this Reinsurance Agreement is terminated in accordance with the provisions of Article 16 hereof.
Upon the occurrence of the Closing as described in this Section 1.1, those certain reinsurance transactions specifically denoted in this Agreement as well as the transactions denoted in any Ancillary Agreement as being effective as of the Reinsurance Effective Date, shall for all purposes be deemed to have been effective as of 12:01 a.m., Central Daylight Savings Time on July 1, 2007 (the “Reinsurance Effective Date”).
The Ceding Company hereby cedes, and the Reinsurer hereby accepts and assumes, as of the Reinsurance Effective Date, one hundred percent (100%) of the Policy Liabilities incurred by the Ceding Company, including any Taxes.
Any debts or credits incurred on or after the Reinsurance Effective Date in favor of or against either Ceding Company or its Affiliates or Reinsurer or its Affiliates and that arise under this Agreement shall be deemed mutual debts or credits, as the case may be, and may be set off, and in that event only the balance may be allowed or paid.
From and after the Reinsurance Effective Date, Reinsurer may direct Ceding Company to set any non-guaranteed elements of the Annuity Contracts (including loads and expense charges, credited interest rates and annuity purchase rates) and Ceding Company shall comply with such directions, subject to any requirements of Applicable Law.
As of the date hereof, under Applicable Law, Ceding Company shall receive credit with respect to the reinsurance afforded by this Agreement in those jurisdictions where Ceding Company is licensed as of the Reinsurance Effective Date and continues to be licensed.