Supplementary Contracts definition

Supplementary Contracts means all supplementary contracts, whether with or without life contingencies, issued by the Ceding Company in exchange for a Reinsured Policy.

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Supplementary Contracts means the following: Asset Purchase Agreement; Technical Assistance and Technology License Agreement; Real Estate Lease Agreement.

Supplementary Contracts. Not Involving Life Contingencies (SCNI) is a settlement option purchased by individual life insurance policy and annuity contract proceeds generally providing periodic payment for a stated period or a stated amount An alternative settlement option includes an accumulation phase based upon an initial interest rate which is guaranteed for 5 years from the effective date; at the end of the 5 year period, payments will be based on interest at the rate declared by the company from time to time, but never less than the rate specified in the original life insurance policy or the contractual option. These periodic payment contracts generally provide for a level payout subject to changes in the declared interest rate. These contracts are commutable without penalty.

Examples of Supplementary Contracts in a sentence

• For the avoidance of doubt, any Reinsured Policies that undergo an Annuitization following the Systems Conversion will remain Reinsured Policies and the Reinsurer will reinsure any Supplementary Contracts issued with respect to such Reinsured Policies.

• Upon the Annuitization of a Reinsured Policy, the Policy and any associated Supplementary Contracts, comprising such Reinsured Policy shall cease to be a Reinsured Policy under this Agreement, and, with the exception of the Annuitization Payment described in this Section 5.5(c) the Reinsurer will have no further liability with respect to such Policy or any associated Supplementary Contracts.

• Each Party shall be bound by the relevant Supplementary Contracts to which it is a contracting party on his own behalf, provided that, however, no Party shall incur any liability or assume any obligations solely as a result of its signing of any Supplementary Contracts on behalf of the Joint Venture before the Establishment Date.

• After the Establishment Date, all Supplementary Contracts signed by the Parties shall be ratified by the Board in accordance with the procedures set forth herein and in the Joint Venture's Articles of Association and formally executed by the legal representative of the Joint Venture.

• In case of conflict between the provisions of this Contract and the provisions of the Articles of Association or any Supplementary Contracts, the terms of this Contract shall prevail.

• Except as otherwise provided herein, each Party shall be responsible for the costs and expenses it incurred in connection with the negotiation and execution of this Contract, the Articles of Association, and the Supplementary Contracts.

• The Reinsurer shall pay its Quota Share of all Policy Benefits including death benefits, withdrawals, surrenders, and annuity payouts under Supplementary Contracts on Reinsured Policies as shown in Schedule A.

• Before the Establishment Date, the Parties may jointly sign the Supplementary Contracts on behalf of the Joint Venture.

• Any breach of contract committed by any Party resulting in the nonperformance of or inability to fully perform any Supplementary Contract(s) shall be deemed a breach by such Party of this Contract.

• Admission of our liability under the relevant Supplementary Disability Contract except the Supplementary Payor Benefit Contract will automatically terminate all cancellable Supplementary Contracts attached to the Basic Policy.

More Definitions of Supplementary Contracts

Supplementary Contracts means all supplementary contracts, whether with or without life contingencies, issued by the Ceding Company in exchange for a Reinsured Policy. “Terminal Accounting Report” shall have the meaning specified in Section 12.03(a). “Termination Effective Date” shall have the meaning specified in Section 12.03(a). “Third A&R Date” shall have the meaning specified in the Preamble hereto. “Third Party Reinsurance Agreements” means (a) all reinsurance agreements by and between the Ceding Company and any Third Party Reinsurers, whether entered into prior to, on or after the Third A&R Date, (b) the ACRA Retail Agreement, (c) the ACRA 2 Retail Agreement and (d) the Catalina Retail Agreement. “Third Party Reinsurers” means all reinsurers who are not the Reinsurer to which any liabilities of the Ceding Company under the Reinsured Policies are ceded, including, but not limited to, Hannover Life Re and Structured Annuity Reinsurance Company. “Treasury Regulations” shall mean all proposed, temporary and final regulations promulgated under the Code, as such regulations may be amended from time to time.

Supplementary Contracts means all supplementary contracts issued by the Ceding Company upon the annuitization of a Reinsured Policy.