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.
Appears in 2 contracts
Sources: Coinsurance and Modified Coinsurance Agreement (Equitable Holdings, Inc.), Coinsurance and Modified Coinsurance Agreement (Equitable Holdings, Inc.)