Common use of CONVERSIONS, EXCHANGES AND REPLACEMENTS Clause in Contracts

CONVERSIONS, EXCHANGES AND REPLACEMENTS. All Policies reinsured under this Agreement shall be issued in accordance with the Ceding Company’s normal standards and guidelines related to conversions, exchanges and replacements which are in effect on the effective date of this Agreement (“CER Guidelines”) and have been provided to MARC. The Ceding Company shall notify MARC in writing within ninety (90) days of the effective date of any proposed material change to the CER Guidelines. If MARC agrees to the proposed change in writing, then such change shall become a part of the CER Guidelines. In the event that MARC does not respond within thirty (30) days, MARC shall be deemed to have accepted such change. If MARC rejects such proposed change in writing, such proposed change shall not become a part of the CER Guidelines and shall not be applied to Policies reinsured under this Agreement. The Ceding Company’s CER Guidelines are incorporated herein by reference and shall form an integral part of this Agreement. Unless mutually agreed otherwise, policies that are not reinsured with MARC and that exchange or convert to a plan covered under this Agreement will not be reinsured hereunder.

CONVERSIONS, EXCHANGES AND REPLACEMENTS. All Policies reinsured under this Agreement shall be issued in accordance with the Ceding Company’s normal standards and guidelines related to conversions, exchanges and replacements which are in effect on the effective date of this Agreement (“CER Guidelines”) and have been provided to MARC. The Ceding Company shall notify MARC ▇▇▇▇ in writing within ninety (90) days of the effective date of any proposed material change to the CER Guidelines. If MARC ▇▇▇▇ agrees to the proposed change in writing, then such change shall become a part of the CER Guidelines. In the event that MARC ▇▇▇▇ does not respond within thirty (30) days, MARC ▇▇▇▇ shall be deemed to have accepted such change. If MARC ▇▇▇▇ rejects such proposed change in writing, such proposed change shall not become a part of the CER Guidelines and shall not be applied to Policies reinsured under this Agreement. The Ceding Company’s CER Guidelines are incorporated herein by reference and shall form an integral part of this Agreement. Unless mutually agreed otherwise, policies Policies that are not reinsured with MARC ▇▇▇▇ and that exchange or convert to a plan covered under this Agreement will not be reinsured hereunder.