Funds Withheld. The Ceding Company shall withhold, on behalf of the Reinsurer, the Funds Withheld Assets. The payment of funds to and the holding of such funds by, the Ceding Company shall not create a trust or fiduciary relationship between the Ceding Company and the Reinsurer, but rather a relationship of debtor and creditor. The Reinsurer shall consider such amount as a receivable.
Appears in 26 contracts
Sources: Reinsurance Agreement (Talcott Resolution Life & Annuity Insurance Co Separate Account Seven), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two)