Common use of Consequence of Termination Clause in Contracts

Consequence of Termination. (a) In the event that this Agreement is terminated pursuant to Section 6.4, this Agreement shall terminate as of the end of the applicable Accounting Period in which the notice of termination pursuant to Section 6.4 is received by the non-terminating party and a net accounting and settlement as to any balance due under this Agreement shall be undertaken by the parties for such Accounting Period and in respect of adjustments required for any earlier Accounting Period (the “Final Settlement”).

Appears in 4 contracts

Samples: Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc)

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Consequence of Termination. (a) In the event that this Agreement is terminated pursuant to Section 6.4section 8.3, this Agreement shall terminate as of the end of the applicable Accounting Period quarter in which the notice of termination pursuant to Section 6.4 the previous section is received by the non-terminating party and a net accounting and settlement as to any balance due under this Agreement shall be undertaken by the parties for such Accounting Period and in respect of adjustments required for any earlier Accounting Period (the “Final Settlement”).

Appears in 3 contracts

Samples: Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc)

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Consequence of Termination. (a) In the event that this Agreement is terminated pursuant to Section 6.46.3, this Agreement shall terminate as of the end of the applicable Accounting Period in which the notice of termination pursuant to Section 6.4 6.3 is received by the non-terminating party and a net accounting and settlement as to any balance due under this Agreement shall be undertaken by the parties for such Accounting Period and in respect of adjustments required for any earlier Accounting Period (the “Final Settlement”).

Appears in 2 contracts

Samples: Reinsurance Agreement (Genworth Financial Inc), Reinsurance Agreement (Genworth Financial Inc)

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