Common use of RIGHT TO OFFSET BALANCES DUE Clause in Contracts

RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement. Manufacturers Life of N.A., Agreement No. 2001-47 (GMDB) Page 19 Effective July 1, 2001

RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement. Manufacturers Life of N.A.NY, Agreement No. 2001-47 41NY (GMDBGMIB) Page 19 18 Effective July 1, September 17 2001

RIGHT TO OFFSET BALANCES DUE. The CEDING COMPANY and the REINSURER shall have, and may exercise at any time, the right to offset any balance or balances due one party to the other, its successors or assignees, against balances due to the other party under this Agreement or under any other Agreements or Contracts previously or subsequently entered into between the CEDING COMPANY and the REINSURER. This right of offset shall not be affected or diminished because of the insolvency of either party to this Agreement. Manufacturers Life of N.A., Agreement No. 2001-47 48 (GMDBGMIB) Page 19 18 Effective July 1, 2001