Separate Account Liabilities definition

Separate Account Liabilities means the liabilities or obligations arising under the express terms and conditions of the Policies and Post-Closing Policies, to the extent payable out of the Separate Accounts in accordance with the terms of the Policies and the Post-Closing Policies.

Separate Account Liabilities has the meaning set forth in Section 2.10.

Separate Account Liabilities has the meaning set forth in the Indemnity Reinsurance Agreement.

Examples of Separate Account Liabilities in a sentence

• In the event the Reinsurer desires to retrocede to any third-party reinsurer (whether or not Affiliated with the Reinsurer) any portion of the Separate Account Liabilities reinsured by it under this Agreement, the Reinsurer shall be responsible for obtaining such retrocessional coverage at its sole expense.

• Subject to the terms and conditions of this Agreement, as of the Effective Time, the Ceding Company hereby cedes on an indemnity reinsurance basis to the Reinsurer, and the Reinsurer hereby accepts and agrees to assume and indemnity reinsure, one hundred percent (100%) of the General Account Liabilities on a coinsurance basis and one hundred percent (100%) of the Separate Account Liabilities on a modified coinsurance basis.

• For the avoidance of doubt, the Reinsurer shall be required to pay and discharge the Separate Account Liabilities entirely with funds from the Separate Accounts and solely to the extent there are such funds available.

• For purposes hereof, the Reinsured Liabilities attributable to the Covered Insurance Policies shall be apportioned between the General Account Liabilities and the Separate Account Liabilities in a manner consistent with the terms and conditions of the applicable Covered Insurance Policies.

• Subject to the terms and conditions of this Agreement, the Company hereby cedes or retrocedes, as the case may be, on a modified coinsurance basis to the Reinsurer as of the Effective Date, and the Reinsurer hereby accepts and agrees to indemnity reinsure on a modified coinsurance basis as of the Effective Date, one hundred percent (100%) of the Separate Account Liabilities arising under or relating to the Policies and the Post-Closing Policies.

More Definitions of Separate Account Liabilities

Separate Account Liabilities means those insurance liabilities that are reflected in the Separate Accounts and that relate to the Reinsured Contracts, including (i) amounts transferred from the Separate Accounts to the general account of the Company pending distribution to holders of the Reinsured Contracts, and (ii) amounts held in the general account of the Company pending transfer to the Separate Accounts.

Separate Account Liabilities means those liabilities that are payable from the assets of the Separate Accounts in respect of the LBL Contracts.

Separate Account Liabilities means the Quota Share of all Liabilities arising out of or relating to the Covered Insurance Policies, whether incurred before, at or after the Effective Time, to the extent payable out of the Separate Accounts, but in all events excluding Excluded Liabilities.

Separate Account Liabilities means those liabilities that are payable from the assets of the Separate Account in respect of the Reinsured Polices but excluding any Excluded Liabilities.

Separate Account Liabilities means those liabilities that are reflected in the Seller Separate Accounts.

Separate Account Liabilities means those insurance liabilities that are reflected in the Separate Accounts and that relate to the Policies and otherwise in accordance with sound actuarial principles and any valuation bases and methods of determining reserves as provided in the forms of the Policies. Separate Account Liabilities shall not include any Retained Liabilities.

Separate Account Liabilities means liabilities and obligations in respect of the Contracts that are allocated to the Separate Accounts.