CONVERSIONS, EXCHANGES AND REPLACEMENTS Sample Clauses

CONVERSIONS, EXCHANGES AND REPLACEMENTS. If a policy reinsured under this Agreement is converted, exchanged or replaced, the Ceding Company will promptly notify MARC. Unless mutually agreed otherwise, policies that are not reinsured with MARC and that exchange or convert to a plan covered under this Agreement will not be reinsured hereunder.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. You will promptly notify us if a reinsured policy is converted, exchanged, or internally replaced. If the conversion, exchange, or replacement is not considered to be new business, as defined below, we will continue to reinsure the new policy (hereinafter referred to as a “continuation”) in an amount determined on the same basis as, but not to exceed, the amount reinsured on the original policy as of the date of conversion, exchange, or replacement, unless mutually agreed otherwise. If we reinsure the plan to which the original policy is converting, either under this Agreement or under a different agreement, reinsurance premium rates for the continuation will be those contained in the agreement that covers the plan to which the original policy is converting. However, if we do not reinsure the new plan, reinsurance will be on a YRT basis using rates to be mutually agreed upon between the parties. Reinsurance premiums and any expense allowances for continuations will be based on the issue date of the original policy and the original issue age of the insured, i.e. on a point-in-scale basis. A conversion, exchange, or replacement will be considered to be new business provided all of the following criteria are met: 6.1 The new policy is underwritten in accordance with your normal new business guidelines and procedures; 6.2 A full first-year commission is paid on the new policy; and 6.3 The new policy provides for the maximum normal periods of suicide and contestability protection permitted in the state in which the new policy is issued. Unless mutually agreed otherwise, any policies that had been reinsured with another reinsurer and which convert to a plan covered under this Agreement will not be reinsured with us.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. All Policies reinsured under this Agreement shall be issued in accordance with the Ceding Company’s normal standards and guidelines related to conversions, exchanges and replacements which are in effect on the effective date of this Agreement (“CER Guidelines”) and have been provided to Munich Re, U.S. (Life). The Ceding Company shall notify Munich Re, U.S. (Life) in writing within forty-five (45) days of the effective date of any proposed material change to the CER Guidelines. If Munich Re, U.S. (Life) agrees to the proposed change in writing, then such change shall become a part of the CER Guidelines. In the event that Munich Re, U.S. (Life) does not respond within thirty (30) days, Munich Re, U.S. (Life) shall be deemed to have accepted such change. If Munich Re, U.S. (Life) rejects such proposed change in writing, such proposed change shall not become a part of the CER Guidelines and shall not be applied to Policies reinsured under this Agreement. The Ceding Company’s CER Guidelines are incorporated herein by reference and shall form an integral part of this Agreement. Unless mutually agreed otherwise, policies that are not reinsured with Munich Re, U.S. (Life) and that exchange or convert to a plan covered under this Agreement will not be reinsured hereunder.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. In the event of an exchange, conversion or replacement of a Reinsured Contract after the Effective Time in accordance with the terms of such Reinsured Contract, such exchange, conversion or replacement shall be treated as a lapse of such Reinsured Contract for purposes of this Agreement and the policy issued in connection with such exchange, conversion or replacement shall not be considered a Reinsured Contract or otherwise reinsured under this Agreement.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. All Policies reinsured under this Agreement shall be issued in accordance with the Ceding Company’s normal standards and guidelines related to conversions, exchanges and replacements which are in effect on the effective date of this Agreement (“CER Guidelines”) and have been provided to MARC. The Ceding Company shall notify ▇▇▇▇ in writing within ninety (90) days of the effective date of any proposed material change to the CER Guidelines. If ▇▇▇▇ agrees to the proposed change in writing, then such change shall become a part of the CER Guidelines. In the event that ▇▇▇▇ does not respond within thirty (30) days, ▇▇▇▇ shall be deemed to have accepted such change. If ▇▇▇▇ rejects such proposed change in writing, such proposed change shall not become a part of the CER Guidelines and shall not be applied to Policies reinsured under this Agreement. The Ceding Company’s CER Guidelines are incorporated herein by reference and shall form an integral part of this Agreement. Unless mutually agreed otherwise, Policies that are not reinsured with ▇▇▇▇ and that exchange or convert to a plan covered under this Agreement will not be reinsured hereunder.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. The Reinsurer will continue to reinsure the Risk resulting from the Contractual or Non-contractual Conversion of any coverage reinsured under this Agreement, in an amount not to exceed the original amount reinsured. Contractual or Non-contractual Conversions will continue to be reinsured under this Agreement on a YRT basis following the parameters as outlined in Exhibit D-Reinsurance Premiums. Reinsurance Premiums and any allowances for conversions will be on a point in scale basis from the original issue date.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. 13 A. Conversions B. Exchanges and Replacements

CONVERSIONS, EXCHANGES AND REPLACEMENTS. Conversions are not covered under this Agreement

CONVERSIONS, EXCHANGES AND REPLACEMENTS. 7.1 NOTIFICATION AND PLACEMENT If a policy reinsured under this Agreement is converted, exchanged or replaced, the Ceding Company will notify the Reinsurer within ninety (90) days after the effective date of the conversion, exchange or replacement. A policy resulting from an internal exchange or replacement will be underwritten by the Ceding Company in accordance with its underwriting guidelines, practices and procedures for exchanges and replacements. Term conversions of policies issued by the Ceding Company and its subsidiary, Life Insurance Company of the Southwest, to products reinsured under this Agreement shall be covered under the terms of this Agreement. 7.2 PREMIUMS If the New Plan is reinsured by the Reinsurer, either under this Agreement or under a different agreement, reinsurance premium rates for the resulting New Policy will be those contained in the agreement that covers the New Plan. If the agreement including the new rates requires policy fees, then they will also apply to the New Policy. Reinsurance premiums for the New Policy will be based on the original issue age, underwriting class and duration since the issuance of the Original Policy. However, if the New Policy is issued as New Business, the reinsurance premiums for the New Policy will be based on the issue age, underwriting class and duration of the New Policy. 7.3 INCREASES IN AMOUNT If the New Policy is issued with an increase in the Initial Death Benefit, then the provisions of Article 6.2. a will apply to the increased amount. 7.4 FACULTATIVE CONSIDERATIONS The Reinsurer’s approval to exchange or replace the Original Policy will be required if the Original Policy was reinsured on a Facultative basis.