Separate Account Reserves. Notwithstanding anything to the contrary herein, effective as of the Effective Date the Company arid the Reinsurer shall reinsure the Separate Account Reserves on a modified coinsurance basis, subject to the execution and delivery of the Modified Coinsurance Agreement; provided, however, that the Company shall retain, control and own all Separate Account Assets and Separate Account Reserves whether or not the Modified Coinsurance Agreement is executed and delivered.
Appears in 2 contracts
Sources: Coinsurance Agreement (ING U.S., Inc.), Coinsurance Agreement (Ing Life Insurance & Annuity Co)
Separate Account Reserves. Notwithstanding anything to the contrary herein, effective as of the Effective Date the Company arid and the Reinsurer shall reinsure the Separate Account Reserves on a modified coinsurance basis, subject to the execution and delivery of the Modified Coinsurance Agreement; provided, however, that the Company shall retain, control and own all Separate Account Assets and Separate Account Reserves whether or not the Modified Coinsurance Agreement is executed and delivered.
Appears in 1 contract