Common use of Existing Reinsurance Clause in Contracts

Existing Reinsurance. (a) This Agreement is written net of Reinsurance Recoveries, however, subject to Section 2.2(b), the Reinsurer agrees to make payment on behalf of the Ceding Company of all Reinsured Liabilities, calculated without regard to the reduction for Reinsurance Recoveries, in consideration for the Ceding Company’s assignment to the Reinsurer of the Reinsurance Recoveries in Section 3.1(b)(ii). Subject to Section 2.2(b), as part of the Reinsured Liabilities, the Reinsurer shall reimburse the Ceding Company for, or pay on behalf of the Ceding Company, all premiums and other amounts, if any, under the Existing Reinsurance Agreements either due and unpaid or with respect to periods on or after the Effective Time (“Existing Reinsurance Premium”). The Reinsurer shall bear all risk of collecting amounts due in respect of the Covered Insurance Policies under the Existing Reinsurance Agreements other than with respect to a Specified Reinsurance Agreement. The Reinsurer, on behalf of the Ceding Company, shall assume all responsibility for administration of the Existing Reinsurance Agreements including any Specified Reinsurance Agreement (in accordance with the terms thereof) at the same time as the Reinsurer assumes responsibility for the administration of the Covered Insurance Policies pursuant to the Administrative Services Agreement for so long as such agreement remains in effect.

Existing Reinsurance. (a) This Agreement is written net of Reinsurance Recoveries, however, subject to Section 2.2(b2.3(b), the Reinsurer agrees to make payment on behalf of the Ceding Company of all Reinsured General Account Liabilities, calculated without regard to the reduction for Reinsurance Recoveries, in consideration for the Ceding Company’s assignment to the Reinsurer of the Reinsurance Recoveries in Section 3.1(b)(ii). Subject to Section 2.2(b2.3(b), as part of the Reinsured Liabilities, the Reinsurer shall reimburse the Ceding Company for, or pay on behalf of the Ceding Company, all premiums and other amounts, if any, under the Existing Reinsurance Agreements 41446562.7 either due and unpaid or with respect to periods on or after the Effective Time (“Existing Reinsurance Premium”). The Reinsurer shall bear all risk of collecting amounts due in respect of the Covered Insurance Policies under the Existing Reinsurance Agreements other than with respect to a Specified Reinsurance Agreement. The Reinsurer, on behalf of the Ceding Company, shall assume all responsibility for administration of the Existing Reinsurance Agreements including any Specified Reinsurance Agreement (in accordance with the terms thereof) at the same time as the Reinsurer assumes responsibility for the administration of the Covered Insurance Policies pursuant to the Administrative Services Agreement for so long as such agreement remains in effect. Notwithstanding anything herein to the contrary, without the prior written consent of the DFS, the Reinsurer shall not retrocede (i) its whole risk on any individual life or joint lives covered by the Covered Insurance Policies or (ii) any of its risk under the Covered Insurance Policies to a captive reinsurer.

Existing Reinsurance. (a) This Agreement is written net of Reinsurance Recoveries, however, subject to Section 2.2(b2.3(b), the Reinsurer agrees to make payment on behalf of the Ceding Company of all Reinsured General Account Liabilities, calculated without regard to the reduction for Reinsurance Recoveries, in consideration for the Ceding Company’s assignment to the Reinsurer of the Reinsurance Recoveries in Section 3.1(b)(ii). Subject to Section 2.2(b2.3(b), as part of the Reinsured Liabilities, the Reinsurer shall reimburse the Ceding Company for, or pay on behalf of the Ceding Company, all premiums and other amounts, if any, under the Existing Reinsurance Agreements either due and unpaid or with respect to periods on or after the Effective Time (“Existing Reinsurance Premium”). The Reinsurer shall bear all risk of collecting amounts due in respect of the Covered Insurance Policies under the Existing Reinsurance Agreements other than with respect to a Specified Reinsurance Agreement. The Reinsurer, on behalf of the Ceding Company, shall assume all responsibility for administration of the Existing Reinsurance Agreements including any Specified Reinsurance Agreement (in accordance with the terms thereof) at the same time as the Reinsurer assumes responsibility for the administration of the Covered Insurance Policies pursuant to the Administrative Services Agreement for so long as such agreement remains in effect.