Executory Contract. It is expressly understood that this Agreement is an executory contract as long as both parties are required to perform under this Agreement. On the insolvency of the Reinsurer, if this Agreement is not confirmed by the Reinsurer and given status as an “Administrative Expense”, then the Company may terminate for nonperformance without additional payment other than those required under Section 10.1.
Appears in 2 contracts
Sources: Coinsurance Agreement (Eagle Life Insurance Co), Coinsurance Agreement (Eagle Life Insurance Co)
Executory Contract. It is expressly understood that this Agreement is an executory contract as long as both parties are required to perform under this Agreement. On the insolvency of the Reinsurer, if this Agreement is not confirmed by the Reinsurer and given status as an “Administrative Expense”, then the Company may terminate for nonperformance without additional payment other than those required under Section 10.112.1.
Appears in 2 contracts
Sources: Coinsurance Agreement, Coinsurance Agreement (FBL Financial Group Inc)
Executory Contract. It is expressly understood that this Agreement is an executory contract as long as both parties are required to perform under this Agreement. On the insolvency of the Reinsurer, if this Agreement is not confirmed by the Reinsurer and given status as an “"Administrative Expense”", then the Company may terminate for nonperformance without additional payment other than those required under Section 10.1.12.1. ARTICLE
Appears in 1 contract
Sources: Coinsurance Agreement (American Equity Investment Life Holding Co)