Unregistered Separate Accounts. The Reinsurer shall be responsible for insuring that the Unregistered Separate Accounts are funded in compliance with the applicable Contracts and any Applicable Law. Upon expiration or termination of all Contract Liabilities with respect to the Contracts and the discharge in full of all of the Reinsurer's obligations hereunder, FAFLIC shall transfer to the Reinsurer all of its right, title and interest in and to all assets remaining at such time in the Unregistered Separate Accounts.
Appears in 2 contracts
Sources: Coinsurance Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co), Core Coinsurance Agreement (Vel Ii Acct of State Mutual Life Assur Co of America)