Common use of Policy Fees Clause in Contracts

Policy Fees. No policy fees shall be paid under this Agreement. [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [page break] [table deleted] [page break] Section 1.848-2(g) (8) Election The Reinsured and the Reinsurer hereby agree to the following pursuant to Section 1.8482(g)(8) of the Income Tax Regulations issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1998 and for all subsequent taxable years for which this Agreement remains in effect. 1. The term “party” shall refer to either the Reinsured or the Reinsurer as appropriate. 2. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992. 3. The party with the net positive consideration (or gross premiums and other consideration as applicable) for this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.

Policy Fees. No policy fees shall be paid under this Agreement. [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] . [page break] [table deleted] [page break] Section 1.848-2(g) (8) Election The Reinsured and the Reinsurer hereby agree to the following pursuant to Section 1.8482(g)(8) of the Income Tax Regulations issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1998 and for all subsequent taxable years for which this Agreement remains in effect. 1. The term “party” shall refer to either the Reinsured or the Reinsurer as appropriate. 2. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992. 3. The party with the net positive consideration (or gross premiums and other consideration as applicable) for this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.

Policy Fees. No policy fees shall be paid under this Agreement. [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] . [page break] [table deleted] [page break] [page break] Section 1.848-2(g) (8) Election The Reinsured and the Reinsurer hereby agree to the following pursuant to Section 1.8482(g)(8) of the Income Tax Regulations issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1998 and for all subsequent taxable years for which this Agreement remains in effect. 1. The term “party” shall refer to either the Reinsured or the Reinsurer as appropriate. 2. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992. 3. The party with the net positive consideration (or gross premiums and other consideration as applicable) for this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.

Policy Fees. No policy fees shall be paid under this Agreement. [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [table deleted] [page break] [page break] [table deleted] [page break] Section 1.848-2(g) (8) Election The Reinsured and the Reinsurer hereby agree to the following pursuant to Section 1.8482(g)(8) of the Income Tax Regulations issued December 1992, under Section 848 of the Internal Revenue Code of 1986, as amended. This election shall be effective for 1998 and for all subsequent taxable years for which this Agreement remains in effect. 1. The term “party” shall refer to either the Reinsured or the Reinsurer as appropriate. 2. The terms used in this Article are defined by reference to Regulation Section 1.848-2 in effect December 1992. 3. The party with the net positive consideration (or gross premiums and other consideration as applicable) for this Agreement for each taxable year shall capitalize specified policy acquisition expenses with respect to this Agreement without regard to the general deductions limitation of Section 848(c)(1). 4. Both parties agree to exchange information pertaining to the amount of net consideration under this Agreement each year to ensure consistency or as otherwise required by the Internal Revenue Service.