Common use of Buy-Out Settlement Evaluation Process Clause in Contracts

Buy-Out Settlement Evaluation Process. The Ceding Company shall maintain its settlement practices and policies with respect to buy-outs, lapses, surrenders and settlement offers of Reinsured Policies in the ordinary course of business and consistent in all material respects with past practices and shall at all times comply and shall (and shall cause its applicable Affiliates and service providers to) continue to implement Buy-Out Settlement offers in accordance with the guidelines previously provided by the Ceding Company to the Reinsurer as of the date hereof in respect of any buy-outs, lapses or surrenders of the Reinsured