Automatic Cessions. The Ceding Company shall cede and the Reinsurer shall accept as indemnity reinsurance, on a YRT basis, in accordance with the terms and conditions hereof, the portions of the Ceding Company's risk on all Policies that are not in excess of the Automatic Binding Limit, as provided in Exhibit I, with respect to each Policy and the Ceding Company shall retain for its own account the portions of the risk on each Policy as provided in Exhibit II not to exceed its per life retention, provided that: A. the Ceding Company shall have retained the specified portion of the risk on each ceded Policy as described above; B. the amount ceded to the Reinsurer does not exceed the Automatic Binding Limit as shown in Exhibit I; C. the sum of the amount of insurance already in force and applied for on that life according to information available to the Ceding Company, does not exceed the Jumbo Limit as shown in Exhibit I; D. the Ceding Company has not applied for facultative coverage on the current application; E. the Policy is issued in accordance with the Ceding Company's normal individual ordinary life underwriting rules and practices; F. the Policy is listed in Exhibit III.
Appears in 10 contracts
Sources: Automatic and Facultative Yrt Agreement (Metlife Investors Variable Life Account One), Automatic and Facultative Yrt Agreement (New England Variable Life Separate Account), Automatic and Facultative Yrt Agreement (Metropolitan Life Separate Account Ul)