Umpire Selection Procedure. The arbitrators and umpire shall be either present or former executive officers of life or life and annuity insurance or life or life and annuity reinsurance companies other than Seller, Buyer or any of their respective Affiliates. The arbitrators and umpire shall not be under the control of either party, and shall have no financial interest in the outcome of the arbitration.
Appears in 2 contracts
Samples: Transition Services Agreement (Vel Ii Acct of State Mutual Life Assur Co of America), Transition Services Agreement (Vel Ii Account of Commonwealth Annuity & Life Insurance Co)
Umpire Selection Procedure. The arbitrators and umpire shall be either present or former executive officers of life or life and annuity insurance or life or life and annuity reinsurance companies other than Sellerthe Reinsurer, Buyer FAFLIC or any of their respective Affiliates. The arbitrators and umpire shall not be under the control of either party, and shall have no financial interest in the outcome of the arbitration.
Appears in 2 contracts
Samples: Faflic Trust Agreement (Vel Ii Acct of State Mutual Life Assur Co of America), Faflic Trust Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co)
Umpire Selection Procedure. The arbitrators and umpire shall be either present or former executive officers of life or life and annuity insurance or life or life and annuity reinsurance companies other than Sellerthe Service Provider, Buyer FAFLIC or any of their respective Affiliates. The arbitrators and umpire shall not be under the control of either party, and shall have no financial interest in the outcome of the arbitration.
Appears in 2 contracts
Samples: Core Administrative Services Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co), Core Administrative Services Agreement (Vel Ii Acct of State Mutual Life Assur Co of America)
