CONTINUES Sample Clauses
CONTINUES reinsurance premiums less refunds and allowances (dividends and cash values, if applicable) which are due during the current month.
C. If a net reinsurance premium balance is payable to us, you must pay this balance within twenty-five days after the close of that month. If the full balance is not received within the twenty-five day period, the reinsurance premiums for reinsurance risks listed on the statement, for which payment was not received, will be delinquent.
D. If a net reinsurance premium balance is payable to you, we must pay this net balance within twenty-five days after the monthly statement was sent to you.
CONTINUES. For purposes of this Agreement, force majeure shall include conditions beyond the control of the parties, including without limitation, an act of God, voluntary or involuntary compliance with any regulation, law, or order of any government, war, civil commotion, strike or other labor disturbance, epidemic, failure or default of public utilities or common carriers, destruction of production facilities or materials by fire, earthquake, storm, or like catastrophe.
CONTINUES. If it is not possible to restore each Party to the position it would have occupied but for the error, the Parties will endeavor in good faith to promptly resolve the situation in a manner that is fair and reasonable, and most closely approximates the intent of the Parties as evidenced by this Agreement. The Reinsurer will not provide reinsurance for policies that do not satisfy the parameters of this Agreement, nor will the Reinsurer be responsible for negligent or deliberate acts or for repetitive errors in administration by the Company. If either Party discovers that the Company has failed to cede reinsurance as provided in this Agreement, or failed to comply with its reporting requirements, the Reinsurer may require the Company to audit its records for similar errors and to take the actions necessary to avoid similar errors in the future.
CONTINUES. The reinsurance benefit for an approved Waiver of Premium claim will be the Reinsurer's proportionate share of the annual gross premium waived on the policy. The Company will continue to pay the life reinsurance premium; however, it will not pay the reinsurance premium for the waiver benefit for the duration of the waiver claim period. The Reinsurer will pay waiver benefits consistent with the Company's mode of premium payment specified in the policy.
CONTINUES pertaining to the insurability of the risk. The Reinsurer shall have the option of accepting or rejecting or rating any application for facultative reinsurance. The Reinsurer promptly shall notify the Reinsured of its underwriting action after the Reinsurer has examined the evidence of insurability submitted.
CONTINUES. 5. If there is a change in insurance which is reinsured under this Agreement, a corresponding change shall be made in the applicable reinsurance.
6. If the net amount of life reinsurance at risk for a given reinsurance risk falls below $1,000, all of the life reinsurance for the risk involved shall terminate as of the effective date the net amount of life reinsurance at risk falls below $1,000. The life reinsurance for the risk involved shall terminate, as provided in the preceding sentence of this Section, notwithstanding the fact reinsurance on the same life under some other risk shall continue in force under this Agreement.
7. When reinsurance is reduced or changed, the Reinsured shall report such reduction or change on the monthly accounting statement.
8. The Reinsurer shall refund to the Reinsured all unearned reinsurance premiums not including policy fees, less applicable allowances. arising from reductions, terminations and changes as described in this Article.
CONTINUES. Insu▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇mpany and reinsured with Transamerica Occidental under the Life, Disability and Accidental Death Automatic Reinsurance Agreement (1258-3), effective January 1, 1983, and the Life, Disability and Accidental Death Automatic Reinsurance Agreement (1258-4), effective February 1, 1986, shall be excluded from reinsurance under this Agreement.
CONTINUES. 5) The Reinsurer shall pay as an amount allowed on surrender to the Company an amount equal to the reserves on reinsurance hereunder on a coinsurance basis on the day immediately prior to the terminal accounting date with respect to the portion of the reinsurance hereunder then being terminated.
CONTINUES the policy date of each reinsured policy involved. Therefore, in no event shall the Ceding Company be required to assume an amount in excess of its regular retention limit for the age at issue, mortality rating and risk classification for any policy on which reinsurance is being reduced. The Ceding Company first shall apply the reduction to the reinsurance of insurance which has the same mortality rating as the terminated insurance. If further reduction in reinsurance is required, the cessions to be terminated or reduced shall be determined by the chronological order in which they were effected, the first effected being the first terminated or reduced. If a risk is reinsured by more than one reinsurer, the reduction of the reinsurance shall be in the same proportion as the amount of the initial reinsurance on the risk under this Agreement bore to the amount of initial reinsurance on the risk carried by all reinsurers including Occidental.
4. If the Ceding Company wishes to A. Reduce the mortality rating, or
CONTINUES. B. The Reinsured shall reduce the reinsurance by that amount which will increase the total amount of insurance to be retained by the Reinsured at its own risk to its new retention limit. If a life is reinsured by more than one reinsurer, the reduction of the reinsurance shall be in the same proportion as the amount of the reinsurance on the life under this Agreement shall bear to the amount of reinsurance on the life carried by all reinsurers including the Reinsurer.
C. The reduction of reinsurance shall become effective on the last to occur of the following two dates:
(1) The cession's anniversary date next following the effective date of the increase in the Reinsured's retention limits.
(2) The end of ten full years starting with the 'policy date' for the risk involved.