Continuation of Contracts. The ELNY Restructured Contracts that are Covered Contracts, Article 75 Contracts or Uncovered Contracts will continue in force following such restructuring unless terminated by the terms of such Contract, and shall be ceded to and assumed by NEWCO pursuant to Section 4.1 and the Reinsurance and Assumption Agreement. It will be the individual responsibility of each non-participating Guaranty Association for providing its statutory coverage to each ELNY Restructured Contract allocated to it as an Excluded Contract.
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