Common use of Notification of Disapproval or Change in Law Clause in Contracts

Notification of Disapproval or Change in Law. The Company shall promptly notify the Reinsurer of any disapprovals, recommended changes or statements regarding the Assumption Agreement that are made by any insurance or tax regulatory authorities and of any change in law, regulation or rulings affecting this Assumption Agreement. The Reinsurer shall be allowed to make its own defense of the Assumption Agreement with said authorities.