The existence, quantum, valuation and date for payment of any sums which the Reinsurers are liable to pay the Reinsured under this Contract shall be those and only those for which the Reinsurers would be liable to the Reinsured if the liability of the Reinsured had been determined without reference to any term in any composition or scheme of arrangement or any similar such arrangement, entered into between the Reinsured and all or any part of its policyholders, unless and until the reinsurers serves written notice to the contrary on the Reinsured in relation to any composition or scheme of arrangement.