Examples of Assuming company in a sentence
Upon the terms and subject to the conditions and other provisions of this Agreement (including the exception process set forth in Section 2.7 hereof), as of the applicable Effective Times for the Novations, the Ceding Company shall cede, assign, transfer and sell to the Assuming Company, by way of assumption reinsurance, all rights and benefits under the Novated Contracts, and the Assuming Company shall accept thereunder and assume, by way of assumption reinsurance, all such rights and benefits.
The Ceding Company shall cause the Investment Agreements to cease to apply to any Separate Account Assets transferred to the Assuming Company as of the applicable Effective Time.
Prior to any such filing or response, the Ceding Company shall afford the Assuming Company the opportunity to review such filing or response, as applicable, and shall incorporate any reasonable input received from the Assuming Company.
The content of the Policyholder Notice and method of correspondence with respect thereto shall be subject to the reasonable approval of the Assuming Company.
This Agreement (including all exhibits and schedules hereto) constitutes the entire agreement of the Parties with respect to the subject matter of this Agreement and supersedes all prior agreements and undertakings, both written and oral, between or on behalf of the Ceding Company and/or its Affiliates, on the one hand, and the Assuming Company and/or its Affiliates, on the other hand, with respect to the subject matter of this Agreement.
The Policyholder Notice shall clearly identify the Assuming Company as the party making the exchange offer to the Policyholders.
Any out-of-pocket expenses associated with obtaining the Investment Agreement Arrangements shall be borne by the Assuming Company.
For the avoidance of doubt, a Novated Contract shall not constitute the creation of a new contract or the termination of the applicable Novation Subject Contract; rather such Novated Contract shall be considered and deemed a continuation of the existing contract as if the Assuming Company were the original party thereto in lieu of the Ceding Company in respect of such Novated Contract.
Prior to the first Effective Time as to any Novation Subject Contract that constitutes a NI Modco Accounts Reinsured Contract, the Assuming Company shall establish and maintain one or more non-insulated separate accounts to mirror the Ceding Company’s NI Modco Account for such Novation Subject Contracts, and shall allocate to such separate accounts all assets and liabilities with respect to NI ModCo Accounts Reinsured Contracts that become Novated Contracts in accordance with applicable Law.
The Ceding Company and the Assuming Company shall agree on the content to be used in responding to inquiries from Policyholders and Producers.