Common use of Reductions, Terminations and Reinstatements Clause in Contracts

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 will also be reduced or terminated to the extent that the Ceding Company will continue to maintain its appropriate retention limit as shown in Exhibit A for the issue age and table rating of the insured. The Ceding Company 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. The amount of the reduction will be applied on a proportional basis to each Pool Reinsurer's net amount at risk at the same proportion that the Pool Reinsurer's initial amount of reinsurance bore to the total initial amount reinsured. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance coverage will also terminate. If additional policies on the same life are reinsured to the Pool, and if the termination causes the Ceding Company to maintain less than its retention limit shown in Exhibit A, the policy(ies) issued next in sequence to the terminated policy will be decreased until the Ceding Company maintains its full retention on the risk. The Ceding Company will also follow the procedures shown in the above paragraphs when the reduction or termination applies to fully retained policies, where the reduction or termination will cause the Ceding Company to maintain less than its current retention for any policy or policies reinsured. If a policy reinsured automatically lapses and is reinstated in accordance with the issuing company's standard rules and procedures, 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. The Ceding Company will provide the Pool Reinsurers with copies of reinstatement papers only upon request. The Ceding Company will notify the Pool Reinsurers of the reinstatement on its periodic statement of account, and it 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 any interest collected. Thereafter, reinsurance payments will be in accordance with Article V. (Reinsurance 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 the Ceding Company you will continue to maintain its your appropriate retention limit as shown in Exhibit A for the issue age and table rating of the insured. The Ceding Company You 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. The total amount of the reduction of a reinsured policy will be applied directly to our net amount at risk. If reinsurance on a proportional basis to each Pool Reinsurer's the policy was placed with more than one reinsurer, our net amount at risk at will be reduced in the same proportion that the Pool Reinsurer's our initial amount of reinsurance bore to the total initial amount reinsuredreinsured in all companies. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance coverage will also terminate. If additional policies on the same life are reinsured to the Poolwith us, and if the termination causes the Ceding Company you to maintain less than its the retention limit shown in Exhibit A, the policy(ies) issued next in sequence to the terminated policy will be decreased until the Ceding Company maintains its you maintain your full retention on the risk. The Ceding Company This procedure will not apply to any policies reinsured on a facultative basis where you have not kept your full retention. You will also follow the procedures shown in the above paragraphs when the reduction or termination applies to a policy or policies that you have fully retained policiesretained, and where the reduction or termination will cause the Ceding Company you to maintain less than its your current retention for any policy or policies reinsured. If a policy reinsured automatically lapses and is reinstated in accordance with the issuing company's your standard rules and procedures, 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. The Ceding Company You will provide the Pool Reinsurers with send us copies of your reinstatement papers only upon request. The Ceding Company You will notify the Pool Reinsurers us of the reinstatement all reinstatements on its your periodic statement of account, and it you 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 any interest collected. Thereafter, reinsurance payments will be in accordance with Article V. (Reinsurance Rates and Payments).

Reductions, Terminations and Reinstatements. If any part of the underlying coverage policy on a life reinsured under this Agreement is reduced or terminated, the amount reinsured will also be reduced or terminated to the extent that the Ceding Company will continue to maintain its appropriate retention limit as shown in Exhibit A for the issue age and table rating of the insured. The Ceding Company will not be required to assume amounts in excess of the retention limit that was in force when the affected policy was issued. Reductions or terminations to any one policy will neither affect nor change the Ceding Company's retention on existing policies were issuedcovering the same insured life. The amount of the reduction will be applied on a proportional basis to each Pool Reinsurer's net amount at risk at the same proportion that the Pool Reinsurer's initial amount of reinsurance bore to the total initial amount reinsured. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance coverage will also terminate. If additional policies on the same life are reinsured to the Pool, and if the termination causes the Ceding Company to maintain less than its retention limit shown in Exhibit A, the policy(ies) issued next in sequence to the terminated policy will be decreased until the Ceding Company maintains its full retention on the risk. The Ceding Company will also follow the procedures shown in the above paragraphs when the reduction or termination applies to fully retained policies, where the reduction or termination will cause the Ceding Company to maintain less than its current retention for any policy or policies reinsured. If a policy reinsured automatically lapses and is reinstated in accordance with the issuing companyCeding Company's standard rules and procedures, 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. Otherwise, the reinstatement application shall be submitted to Lead Facultative Reinsurer for facultative consideration. The Ceding Company will provide the Pool Reinsurers with copies of reinstatement papers only upon request. The Ceding Company will notify the Pool Reinsurers of the reinstatement on its periodic statement of account, and it 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 any interest collected. Thereafter, reinsurance payments will be in accordance with Article V. (Reinsurance Rates and Payments).

Reductions, Terminations and Reinstatements. If any part of the underlying coverage policy on a life reinsured under this Agreement is reduced or terminated, the amount reinsured will also be reduced or terminated to the extent that the Ceding Company will continue to maintain its appropriate retention limit as shown in Exhibit A for the issue age and table rating of the insured. The Ceding Company will not be required to assume amounts in excess of the retention limit that was in force when the affected policy was issued. Reductions or terminations to any one policy will neither affect nor change the Ceding Company's retention on existing policies were issuedcovering the same insured life. The amount of the reduction will be applied on a proportional basis to each Pool Reinsurer's net amount at risk at the same proportion that the Pool Reinsurer's initial amount of reinsurance bore to the total initial amount reinsured. If a policy reinsured under this Agreement is lapsed or terminated, the reinsurance coverage will also terminate. If additional policies on the same life are reinsured to the Pool, and if the termination causes the Ceding Company to maintain less than its retention limit shown in Exhibit A, the policy(ies) issued next in sequence to the terminated policy will be decreased until the Ceding Company maintains its full retention on the risk. The Ceding Company will also follow the procedures shown in the above paragraphs when the reduction or termination applies to fully retained policies, where the reduction or termination will cause the Ceding Company to maintain less than its current retention for any policy or policies reinsured. If a policy reinsured automatically lapses and is reinstated in accordance with the issuing companyCeding Company's standard rules and procedures, 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. Otherwise, the Pool Reinsurer that bound the reinsurance initially must approve the reinstatement for facultative consideration. If the Pool Reinsurer assumes the risk, then the Ceding Company will reinstate the policy. The Ceding Company will provide the Pool Reinsurers with copies of reinstatement papers only upon request. The Ceding Company will notify the Pool Reinsurers of the reinstatement on its periodic statement of account, and it 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 any interest collected. Thereafter, reinsurance payments will be in accordance with Article V. (Reinsurance Rates and Payments).