Common use of Closed Blocks of Business Clause in Contracts

Closed Blocks of Business. a. TCS shall perform for Servicer all administrative functions for the three blocks of business listed in the following table. Servicer will retain responsibility for answering and processing the phone calls for the group conversion policies (592 policies) and TCS, unless otherwise directed by Servicer, will answer and process phone calls for the remaining Closed Blocks of Business. Type Description Whole life and annuities (pass through whole life and annuities products – some written as group products). Closed to new sales in 1992. Modco Reinsurance Agreement, YRT Agreement, Administrative Services Agreement. Must give 2 year written termination notice on Admin Service Agreement Immediate Variable Annuities Acquired 4/07 with the purchase of a shell co (now Allianz Life & Annuity Co.) Whole life insurance policies that were converted from group policies to individual policies The Company’s administration was handled manually in-house by Servicer with no administrative system.