Termination and Recapture. (a) Upon the occurrence of a Recapture Triggering Event, the Ceding Company shall have the right, but not the obligation, to recapture all, and not less than all, of the reinsurance ceded under this Agreement, by providing the Reinsurer with written notice of its intent to effect recapture. Recapture of the Covered Insurance Policies shall be effective on the 10th day following the day on which the Ceding Company has provided the Reinsurer with such notice (the "Recapture Date").
Termination and Recapture. Subject to the force majeure provisions set forth in Section 9(j) below, each of the following shall constitute an event that may result in the termination of the Agreement by the COUNTY and a recapture of GRANT proceeds:
Termination and Recapture. 9.1 This Agreement may be terminated in the following circumstances:
Termination and Recapture. 6 Section 4.01. Termination................................................ 6 Section 4.02. Recapture.................................................. 6
Termination and Recapture. The Company may terminate this Agreement and recapture all Subject Business reinsured hereunder at any time after June 30, 2003 by providing written notice to the Reinsurer by registered or certified mail, return receipt requested, at least one-hundred-twenty (120) days in advance, such notice to include the effective date of termination and recapture. The Reinsurer may terminate this Agreement only if the Company fails to pay any amount due to Reinsurer by Company hereunder when due, subject to thirty (30) days' notice and demand for such payment by the Reinsurer. The date on which this Agreement is terminated by the Company or by the Reinsurer as set forth in this Section 2.03 shall hereinafter be referred to as the "Recapture Date". On the Recapture Date, the Company shall pay to the Reinsurer the LCF from the last Accounting Period and as determined in accordance with Article VI below adjusted to include interest and applicable Risk Charge through the Recapture Date (the "Recapture Payment"). The parties acknowledge and agree that the Recapture Payment is made based upon the scheduled LCF (whether on Schedule C1 or C2, as applicable), and the parties agree to true-up the Recapture Payment by calculating the actual LCF as of the Recapture Date utilizing actual earned investment rates on the Assets, mortality experience, reserves, Funds Withheld Balance, and Experience Refunds in which case the parties agree to promptly pay the amount owing to the other based upon such true-up calculation. In the event the parties disagree as to the true-up calculation, the parties agree to submit the calculation to Milliman USA (Atlanta office), whose calculation shall be final and binding upon the parties, and whose costs and expenses the parties agree to share equally. Except for amounts owed, if any, by the Reinsurer to the Company pursuant to the true-up of the Recapture Payment, on the Recapture Date the Reinsurer shall be released from all past, current and future liabilities under this Agreement, except as expressly reserved by either of the parties. The true-up calculation shall occur within thirty (30) days after the Recapture Payment is made.
Termination and Recapture. Ceding Company or Reinsurer may terminate this Agreement as set forth below in this Article IX.
Termination and Recapture. 5 Section 3.01. Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Section 3.02. Recapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Termination and Recapture. The Company may terminate this Agreement and recapture all Subject Business reinsured hereunder at any time after January 1, 2010, provided that such recapture falls on the last day of a full Accounting Period, by providing written notice to the Reinsurer by registered or certified mail, return receipt requested, at least thirty (30) days in advance, such notice to include the effective date of termination and recapture. The Reinsurer may terminate this Agreement if the Company fails to pay any reinsurance premium due to Reinsurer by Company hereunder when due, subject to thirty (30) days’ notice and demand for such payment by the Reinsurer. The date on which this Agreement is terminated by the Company or by the Reinsurer as set forth in this Section 2.03 shall hereinafter be referred to as the “Recapture Date”. On the Recapture Date, the Company shall pay to the Reinsurer the LCF as of the Recapture Date determined in accordance with Section 6.01 below.
Termination and Recapture. The Company may terminate this Agreement and recapture all business reinsured hereunder at any time after June 29, 2001 by providing written notice to the Reinsurer by registered or certified mail, return receipt requested, at least one-hundred-twenty (120) days in advance, such notice to include the effective date of termination and recapture. The Reinsurer may terminate this Agreement only if the Company fails to pay any Reinsurance Premium when due in accordance with Section 4.01, subject to ninety (90) days' notice and demand for such Reinsurance Premium by the Reinsurer. The date on which this Agreement is terminated by the Company or by the Reinsurer as set forth in this Section 2.04 shall hereinafter be referred to as the "Recapture Date". On the Recapture Date, the Company shall pay to the Reinsurer the Cash Balance as of the Recapture Date, that being the Cash Balance on the Settlement Date immediately preceding the Recapture Date adjusted to include interest through the Recapture Date, and the Reinsurer shall be released from all current and future liabilities under this Agreement.
Termination and Recapture. 9 10.5 Consequences of Our Consent ..................................................................9 10.6
