Right of Offsetting Balances Due. 1. The Company and Swiss Re Life & Health shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assigns, against balances due the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the Company and Swiss Re Life & Health. This right of offset shall not be affected or diminished because of insolvency of either party to this Agreement.
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Samples: Automatic Reinsurance Agreement (Nationwide Variable Account 7), Automatic Reinsurance Agreement (Nationwide Variable Account 9), Automatic Reinsurance Agreement (Variable Account D of Union Security Insurance Co)
Right of Offsetting Balances Due. 1. The Company and Swiss Re Life & Health shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assigns, against balances due the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the Company and Swiss Re Life & Health. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement.
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