Offset and Recoupment. The Company or the Reinsurer may offset or recoup any undisputed balance or amount due from one Party to the other Party under this Agreement; provided, that in the event of the insolvency of the Company, offsets shall only be allowed in accordance with New York Insurance Law Section 7427. The right of setoff shall not be affected or diminished because of the insolvency of either Party.
Appears in 3 contracts
Sources: Coinsurance and Assumption Agreement (Athene Holding LTD), Coinsurance Agreement (Athene Holding LTD), Funds Withheld Coinsurance Agreement (Athene Holding LTD)