Common use of Retrocession Clause in Contracts

Retrocession. Except in connection with the wind up of the Reinsurer at any time after January 1, 2009, the Reinsurer agrees that it will not enter into any retrocession agreements with respect to the Ceded Losses and will retain for its own account one hundred percent (100%) of such liability. If the Reinsurer enters into any retrocession agreement with respect to Ceded Losses, the retrocession provider must be reasonably satisfactory to the Ceding Company.