Common use of Rate Guarantee Clause in Contracts

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any Covered Policy. Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following an increase in reinsurance premiums pursuant to paragraphs B or C of this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been increased, regardless of the policy date. The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any Covered PolicyPolicy . Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on of the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following an increase in reinsurance premiums pursuant to paragraphs B or C of o this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been increased, regardless of the policy date. The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any any Covered Policy. Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on of the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoingforgoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect elect- to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following Following an increase in reinsurance premiums pursuant to paragraphs B or C of this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been so increased, regardless of the policy date. The Company must notify the Reinsurer of the intent to recapture within one hundred eighty (180) days of receiving notice of the rate increase The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any any Covered Policy. Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoingforgoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect elect- to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following Following an increase in reinsurance premiums pursuant to paragraphs B or C of this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been so increased, regardless of the policy date. .The Company must notify the Reinsurer of the intent to recapture within one hundred eighty (180) days of receiving notice of the rate increase The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any Covered Policy. Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following an increase in reinsurance premiums pursuant to paragraphs B or C of this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been increased, regardless of the policy date. The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.

Rate Guarantee. A. The YRT rates set out in this Agreement are fixed for the twelve month period following the policy date of any Covered PolicyPolicy . Thereafter, and with respect to any rate increase pursuant to paragraphs B or C of this section, reinsurance rates may not exceed the U.S. statutory net valuation premium applicable to the Covered Policies, calculated using the appropriate guaranteed mortality table and interest assumption. B. Subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums only to the extent required to address mortality deficiencies across its U.S. yearly renewable term business by providing written notice to the Company no less than ninety (90) days prior to the date that the increase is to be put into effect. Any increase will only be permitted in connection with a uniform increase in reinsurance premiums for the Reinsurer’s entire portfolio of in force inforce term and permanent life reinsurance assumed having characteristics consistent with the risks reinsured under this Agreement, including but not limited to the following: (a) reinsurance became effective on new policies issued after 1/1/1997 (b) Reinsurer has the right to raise reinsurance premiums; (c) policies were reinsured under treaties with effective dates within the three (3) years prior to the effective date of this treaty; (d) policies were underwritten on a fully underwritten basis; and (e) policies have similar product features as those provided in the policies reinsured herein. C. The Company and the Reinsurer agree that the terms of this Agreement have been negotiated based on the mutual assumption that the Reinsurer will not be required to hold any amount of U.S. statutory deficiency reserves for business ceded under this Agreement, based on of the assurances provided in paragraphs A and B of this section. Notwithstanding the foregoing, if for any reason the Reinsurer is required to establish or maintain any such deficiency reserve amounts by an insurance regulatory authority having jurisdiction jursisdiction over of the Reinsurer, upon the receipt of the Reinsurer’s written notice to the Company thereof, the Company may elect to hold such deficiency reserve amounts in respect of the portion of the Covered Policies ceded to the Reinsurer under this Agreement. If the Company declines to hold such amounts, then, subject to paragraph A of this section, the Reinsurer may increase reinsurance premiums to the level required in order to avoid the holding of such deficiency reserve amounts. D. At any time following an increase in reinsurance premiums pursuant to paragraphs B or C of o this section, the Company shall have the right, at its option, to recapture all, but not less than all, of the Covered Policies on which reinsurance premiums have been increased, regardless of the policy date. The recapture settlement amount will be an amount equal to the portion of the unearned gross reinsurance premiums attributable to the recaptured business, all determined as of the effective date of the recapture. The Reinsurer will pay the recapture settlement amount required not later than forty-five (45) days following final determination of such amount.