CONTINUES Sample Clauses

CONTINUES. [XXXX](X) Transamerica life companies Transamerica Occidental Life Insurance Company all the terms and conditions of the Reinsurance Agreement together with all Amendments and supplements. Executed in duplicate by Executed in duplicate by THE LIFE INSURANCE TRANSAMERICA OCCIDENTAL COMPANY OF VIRGINIA, LIFE INSURANCE COMPANY at Richmond, Virginia, at Los Angeles, California, on 7-14, 1988. on june 29, 1988. By /s/ Illegible By /s/ Illegible ------------------------------------ ----------------------------------- Title: ___ V.P. Vice President By /s/ Illegible By /s/ Illegible ------------------------------------ ----------------------------------- Title: Illegible Vice President and Actuary 39353A1 - No. 2 Transamerica Reinsurance -------------------------------------------------------------------------------- AMENDMENT No. 5 This Amendment, effective March 1, 1988, between THE LIFE INSURANCE COMPANY OF VIRGINIA, (Reinsured referred to as you, your), and TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY, (Reinsurer to as we, us, our), is attached and becomes a part of the Automatic Reinsurance Agreement (3935-3), dated March 1, 1988.
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. (1) Transamerica Occidental's net amount at risk for the first policy year shall equal the face amount of the life insurance reinsured, After the first policy year, Transamerica Occidental's net amount at risk for each of the policy years two through ten, inclusive, shall be reduced by an amount equal to one-ninth of the terminal reserve of the life insurance reinsured as of the end of the tenth policy year.
CONTINUES premiums for the reinsurance which was in force prior to its termination. The effective date of reinstatement shall be the day Occidental shall have received all of the required premiums. There shall be no reinstatement of reinsurance under a cession with respect to which the Ceding Company incurred a claim for insurance after the reinsurance terminated notwithstanding the fact that payment of the unpaid reinsurance premiums for such a cession is required before there can be any reinstatement under this Section.
CONTINUES. (3) Transamerica Occidental's net amount at risk shall equal the difference between the initial face amount of life insurance reinsured and the terminal reserve of such life reinsurance for each policy year in the period involved if the period of policy years involved shall be less than ten policy years. Due to certain variables in the plans of insurance which the Ceding Company may issue, which include but are not limited to special options, structure of tables of amounts, rate of guaranteeing an increase in the face amount under a given plan of insurance, the methods of calculating Transamerica Occidental's net amount at risk, as described herein, may not be appropriate. In such a case, Transamerica Occidental's net amount at risk shall be determined by a method mutually agreeable to the parties hereto.
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.