Common use of Current Practices Clause in Contracts

Current Practices. The Ceding Company will not materially change, alter or otherwise compromise its claims paying or administrative practices with respect to the Annuities without prior written consent of the Reinsurer. For purposes of this Paragraph, a material change or alteration is deemed to occur when such change or alteration could affect the liability of the Reinsurer under this Agreement.

Current Practices. The Ceding Company will not materially change, alter or otherwise compromise its claims paying or administrative practices with respect to the Annuities without prior written consent of the ReinsurerReinsurer unless such change (i) is required by insurance regulatory authorities having jurisdiction over the Ceding Company; or (ii) is an immaterial change of no economic impact to Reinsurer and does not diminish Ceding Company's service levels with respect to the Annuity contractor owners. For purposes of this Paragraph, a material change or alteration is deemed to occur when such change or alteration could affect the liability of the Reinsurer under this Agreement.