Common use of DAC Tax Election Clause in Contracts

DAC Tax Election. If the Insurance Policies reinsured hereunder include for U.S. Federal income tax purposes “Specified Insurance Contracts” as described in Section 848 of the Internal Revenue Code or the Final Income Tax Regulations thereunder, the Parties shall make the election provided in Section 1.848-2(g)(8) of the Final Income Tax Regulations issued December 28, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. The specifics on this election are set forth in Exhibit E.

DAC Tax Election. If the Insurance Policies reinsured hereunder include for U.S. Federal federal income tax purposes “Specified Insurance Contracts” as described in Contracts pursuant to Section 848 of the Internal Revenue Code or the Final Income Tax Regulations IRS regulations promulgated thereunder, the Parties shall make the election provided in IRS Regulation Section 1.848-2(g)(8) of the Final Income Tax Regulations issued December 28, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended). The specifics on this election are set forth in Exhibit E.Schedule 3.6.

DAC Tax Election. If the Insurance Policies reinsured hereunder include for U.S. Federal income tax purposes “"Specified Insurance Contracts” " as described in Section 848 of the Internal Revenue Code or the Final Income Tax Regulations thereunder, the Parties shall make the election provided in Section 1.848-2(g)(8) of the Final Income Tax Regulations issued December 28, 1992 under Section 848 of the Internal Revenue Code of 1986, as amended. The specifics on this election are set forth in Exhibit E.F. [Alternative 2, to be used if Reinsurer is not domiciled in the U.S.]