CEDING. COMPANY A company which transfers all or part of the insurance it has written to another company.
CEDING. The CEO may not totally or partially cede the obligations and responsibilities assumed through this CONTRACT to a third party.
CEDING. The VMDP may not totally or partially cede the obligations and responsibilities assumed through this CONTRACT to a third party.
CEDING. Subject to the terms and conditions of this Agreement, the Company hereby cedes to Reinsurer and Reinsurer hereby reinsures one hundred percent (100%) of the Policy Obligations. Except for the Policy Obligations, the Company shall continue to have all liabilities not specifically reinsured by the Reinsurer hereunder, including any liabilities relating to any agreements or commitments issued in connection with the Policies which are not recognized or reserved for on the books of the Company, or arising out of the marketing, servicing or other relationships between the Company and any person, agent or entity, and the Company shall indemnify the Reinsurer and hold the Reinsurer harmless from all liabilities and costs incurred by the Reinsurer in respect to claims or litigation involving any such liabilities not specifically reinsured by the Reinsurer hereunder, as more fully set forth in Article XIV below.
CEDING. 15.1. The Customer may not cede, in whole or in part, any of its rights or obligations under the Agreement, without the prior expresses written consent of BI.
CEDING. The client is not entitled to assign claims and rights out of this contractual obligation without our written consent.
CEDING. Subject to the terms and conditions of this Agreement, the Company hereby cedes to Reinsurer and Reinsurer hereby reinsures Ninety Three and Sixty Hundredths percent (93.60%) (the "Reinsurer's Portion") of the Policy Obligations. The portion of the Policy Obligations not reinsured is sometimes referred to herein as the "Company's Portion" and the numerical relationship (93.60/6.40) is sometimes referred to herein as the "Coinsurance Ratio." (Referring to Section 14.4 below, in the event the Company assumes the South Texas Bankers Policies, the Coinsurance Ratio shall change, retroactive to the Effective Date, in accordance with Section 14.4 below.) Apart from the Policy Obligations allocated between the Reinsurer and the Company in accordance with the Coinsurance Ratio, the Company shall continue to have all liabilities not specifically reinsured by the Reinsurer hereunder, including any liabilities relating to pre-need contracts issued in connection with the Policies, and the Company shall indemnify the Reinsurer and hold the Reinsurer harmless from all liabilities not specifically reinsured by the Reinsurer hereunder, including any costs incurred by the Reinsurer in respect to claims or litigation involving any such liabilities not specifically reinsured by the Reinsurer hereunder.
