Common use of Reductions, Terminations and Reinstatements Clause in Contracts

Reductions, Terminations and Reinstatements. If any part of the coverage on a life reinsured under this Agreement is reduced or terminated, the amount reinsured will also be reduced or terminated to the extent that we will continue to maintain our appropriate retention limit based on issue age and table rating of insured as shown in Exhibit A. We will not be required to assume amounts in excess of the retention limit that was in force when the affected policy or policies were issued. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place, or by operation of the policy’s terms. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance of such policy will also terminate. If a policy under this Agreement lapses and is subsequently reinstated in accordance with our standard rules and procedures previously disclosed to you, reinsurance for the amount at risk effective at the time of the lapse will be reinstated automatically at the date of reinstatement of the policy. We will send you copies of reinstatement papers only upon request. We will notify you of all reinstatements on our periodic statement of account and we will pay all reinsurance payments due from the date of reinstatement to the date of the current statement of account. Thereafter, reinsurance payments will be in accordance with Article V (Reinsurance Premium Rates and Payments).

Reductions, Terminations and Reinstatements. If any part of the underlying coverage on a life reinsured under this Agreement is reduced or terminated, the amount reinsured of reinsurance will also be reduced or terminated to the extent that we will continue to maintain our appropriate retention limit based on issue age and table rating of insured as shown in Exhibit A. We will not be required to assume amounts in excess of the retention limit that was in force when the affected policy or policies were issued. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place, or by operation of the policy’s terms. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance of such policy will also terminate. If a policy under this Agreement reinsured automatically lapses and is subsequently reinstated in accordance with our standard rules and procedures previously disclosed to youprocedures, reinsurance for the amount at risk effective at the time of the lapse will be reinstated automatically at the date of reinstatement of the policy. We will notify you of the reinstatement on our periodic statement of account. We will send you copies of our reinstatement papers only upon request. We will notify you of all reinstatements on our periodic statement of account account, and we will pay all reinsurance payments due from the date of reinstatement to the date of the current statement of account, including a proportionate share of interest collected. Thereafter, reinsurance payments will be in accordance with Article V V. (Reinsurance Premium Rates and Payments).

Reductions, Terminations and Reinstatements. If any part of the coverage on a life reinsured under this Agreement is reduced or terminated, the amount reinsured will also be reduced or terminated to the extent that we will continue to maintain our appropriate retention limit based on issue age and table rating of insured as shown in Exhibit A. We will not be required to assume amounts in excess of the retention limit that was in force when the affected policy or policies were issued. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place, or by operation of the policy’s 's terms. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance of such policy will also terminate. If a policy under this Agreement automatically reinsured lapses and is subsequently reinstated in accordance with our standard rules and procedures previously disclosed to youprocedures, reinsurance for the amount at risk effective at the time of the lapse will be reinstated automatically at the date of reinstatement of the policy. We will send you copies of our reinstatement papers only upon request. We will notify you of all reinstatements have the authority to reinstate a policy reinsured under this Agreement on our periodic statement of account and we will pay all reinsurance payments due from the date of reinstatement to the date of the current statement of account. Thereafter, reinsurance payments will be in accordance with Article V (Reinsurance Premium Rates and Payments).a facultative basis without your prior approval when: