Initial Reserve Adjustment. Simultaneous with the payment of the Initial Consideration described in Article II, Paragraph 1, by the Ceding Company to the Reinsurer, the Reinsurer will pay the Ceding Company an Initial Reserve Adjustment in an amount that is equal to the Modified Coinsurance Reserve determined in accordance with Paragraph 3 below, on the Effective Date of this Agreement.
Appears in 3 contracts
Samples: Reinsurance Agreement (John Hancock Life Insurance Co (Usa) Separate Account H), Reinsurance Agreement (Nasl Variable Account), Reinsurance Agreement (Nasl Variable Account)
Initial Reserve Adjustment. Simultaneous Simultaneously with the payment of the Initial Consideration described in Article II, Paragraph 1, by the Ceding Company to the Reinsurer, the Reinsurer will pay the Ceding Company an Initial Reserve Adjustment in an amount that is equal to the Modified Coinsurance Reserve determined in accordance with Paragraph 3 below, on the Effective Date of this Agreement.
Appears in 2 contracts
Samples: Reinsurance Agreement (North American Security Life Insurance Co), Reinsurance Agreement (Manufacturers Life Insurance Co of North America Sep Acc A)
