Insolvency of the Ceding Company. In the event of the insolvency of the Ceding Company, as determined by the regulatory agency responsible for such determination, all reinsurance will be payable by the Reinsurer on the basis of the liability of the Ceding Company under policies reinsured under this Agreement directly to the liquidator, receiver or statutory successor of the Ceding Company, without diminution because of the insolvency of the Ceding Company. It is the intention of the Parties that, unless expressly provided for otherwise in this Agreement, the Reinsurer:
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Samples: Automatic and Facultative Monthly Renewable Term Reinsurance Agreement (Separate Account Vl I of Hartford Life Insurance Co), Automatic and Facultative Monthly Renewable Term Reinsurance Agreement (Hartford Life & Annuity Ins Co Separate Acount Vlii), Automatic and Facultative Monthly Renewable Term Reinsurance Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)
Insolvency of the Ceding Company. i. In the event of the insolvency of the Ceding Company, as determined by the regulatory agency responsible for such determination, all reinsurance will be payable by the Reinsurer on the basis of the liability of payments due to the Ceding Company under policies reinsured under this Agreement will be payable directly to the liquidator, receiver rehabilitator, receiver, or statutory successor of the Ceding Company, without diminution because of the insolvency of insolvency, for those claims allowed against the Ceding Company. It is Company by any court of competent jurisdiction or by the intention of the Parties thatliquidator, unless expressly provided for otherwise in this Agreementrehabilitator, the Reinsurer:receiver or statutory successor having authority to allow such claims.
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