Credit for Reinsurance. Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.
Credit for Reinsurance. The parties intend that the Company will receive statutory reserve credit in its state of domicile for reinsurance provided under this Agreement. The parties agree to use reasonable efforts to ensure that such reserve credit will remain available to the Company.
Credit for Reinsurance. The Reinsurer shall take such actions as may be necessary or appropriate in order to enable the Ceding Company (i) to secure full qualification for reinsurance accounting under SAP applicable to the Ceding Company for the reinsurance ceded to the Reinsurer under this Agreement on a modified coinsurance basis and (ii) to obtain full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement on a coinsurance with funds withheld basis, in each case, in the statutory financial statements required to be filed by the Ceding Company with the Governmental Authority charged with the supervision of insurance companies in the Ceding Company’s domiciliary state (“Reserve Credit”).
Credit for Reinsurance. (a) The Reinsurer shall, at its own expense, take all steps necessary (including the posting of letters of credit or other acceptable security) to enable the Company to receive and maintain full credit for the reinsurance provided by this Agreement in any jurisdiction applicable throughout the entire term of this Agreement.
Credit for Reinsurance. 16.5 Non-Waiver 16.6 Retrocession 16.7 Governing Law 16.8 Interest
Credit for Reinsurance. 16.5 Non-Waiver
Credit for Reinsurance. 9 17. Execution ..............................................................11
Credit for Reinsurance. 7.01 The Parties intend that the Ceding Company will be entitled to take full statutory credit for reinsurance provided under this Agreement in all jurisdictions where the Ceding Company is licensed to transact insurance business as of the Effective Date ("Credit"). The Reinsurer represents to the Ceding Company that the Reinsurer is properly licensed or accredited so that the Ceding Company may claim such Credit, and subject to the provisions of this Article 7, the Parties agree to use best efforts to ensure that such Credit will remain available to the Ceding Company during the duration of this Agreement.
Credit for Reinsurance. SECURITY
Credit for Reinsurance. In the event the Ceding Company does not receive credit for reinsurance in its statutory financial statements for the Reinsured Liabilities, the parties shall amend this Agreement and take such commercially reasonable actions as are required to provide the Ceding Company with full credit for the reinsurance ceded hereunder.
