Application of Assets. (a) The Beneficiary hereby covenants to the Grantor that it shall use and apply any withdrawn Assets, without diminution because of the insolvency of the Beneficiary or the Grantor, for the following purposes only:
Appears in 15 contracts
Samples: Reinsurance Trust Agreement, Reinsurance Trust Agreement (Gainsco Inc), Trust Agreement (Platinum Underwriters Holdings LTD)
Application of Assets. (a) The Beneficiary hereby covenants to the Grantor that it shall use and apply any withdrawn Assets, without diminution because of the insolvency of the Beneficiary or the Grantor, for the following purposes only:
Appears in 4 contracts
Samples: Stop Loss Agreement (Assured Guaranty LTD), Trust Agreement (Zenith National Insurance Corp), Trust Agreement (Zenith National Insurance Corp)
Application of Assets. (a) The Each Beneficiary hereby covenants to the Grantor that it shall withdraw Assets from the Trust Account, and use and apply any such withdrawn Assets, without diminution because of the insolvency of the such Beneficiary or the Grantor, for the following purposes only:
Appears in 2 contracts
Samples: Stock Purchase Agreement (Allstate Corp), Stock Purchase Agreement (White Mountains Insurance Group LTD)
Application of Assets. (a) The Beneficiary hereby covenants to the Grantor that it shall use and apply any withdrawn Assets, without diminution because of the insolvency of the Beneficiary or the Grantor, Assets for the following purposes only:
Appears in 2 contracts
Samples: Collateral Trust Agreement (Goldfield Corp), Term Bonding Agreement (Apollo Gold Corp)
Application of Assets. (a) The Beneficiary hereby covenants to the Grantor that it shall use and apply any withdrawn Assetsassets, without diminution because of the insolvency of the Beneficiary or the Grantor, for the following purposes only:
Appears in 1 contract
Samples: Trust Agreement (Platinum Underwriters Holdings LTD)
Application of Assets. (a) The Each Beneficiary hereby covenants to the Grantor Grantors that it shall use and apply any withdrawn Assets, without diminution because of the insolvency of the such Beneficiary or the GrantorGrantors, for the following purposes only:
Appears in 1 contract
