Security Requirement. In the event that the Cedent shall, at any time, notify the Reinsurer of its determination that security for reinsurance recoverables hereunder is or may be necessary for the Cedent to obtain any associated regulatory statement credit for reinsurance ceded to this Agreement on account of the Reinsurer being neither admitted or accredited as a reinsurer, the Reinsurer shall establish a trust ("the Trust") in accordance with Section B of this Article or the Reinsurer shall provide a letter of credit (an "LOC") in accordance with Section C of this Article.
Appears in 17 contracts
Sources: Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities), Automatic Reinsurance Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities), Reinsurance Agreement (New England Variable Annuity Separate Account)
Security Requirement. In the event that the Cedent shall, at any time, -------------------- notify the Reinsurer of its determination that security for reinsurance recoverables hereunder is or may be necessary for the Cedent to obtain any associated regulatory statement credit for reinsurance ceded to this Agreement on account of the Reinsurer being neither admitted or accredited as a reinsurer, the Reinsurer shall establish a trust ("the Trust") in accordance with Section B of this Article or the Reinsurer shall provide a letter of credit (an "LOC") in accordance with Section C of this Article.
Appears in 7 contracts
Sources: Automatic Reinsurance Agreement (New England Variable Annuity Separate Account), Automatic Reinsurance Agreement (Metlife Investors Variable Annuity Account One), Reinsurance Agreement (Metlife Investors Usa Separate Account A)