Common use of Contingent Collateral Clause in Contracts

Contingent Collateral. (This Article shall apply only to a Reinsurer with an A.M. Best insurance financial strength rating of “A” or below or a Standard & Poor’s insurer financial strength rating of “A” or below at the effective date of this Reinsurance Agreement.) (This Article shall not apply to Lloyd’s Syndicates who have satisfied their funding obligations to the Credit for Reinsurance Trust Fund (CRTF); however, in the instance where such funding requirements are reduced below 100%, then the provisions of this Article shall apply to any Lloyd’s Syndicate and funding shall be required for the difference between 100% of the Reinsurer’s Collateral funded to the CRTF.) (This Article shall not apply to the Reinsurer who has already fully funded reserves, under this Reinsurance Agreement, per the provisions of the Funding of Reserves Article or Reports and Remittances Article.) At any time subsequent to the inception of this Reinsurance Agreement, in the event that:

Contingent Collateral. (This Article shall apply only to a Reinsurer with an A.M. Best insurance financial strength rating of “A” or below or a Standard & Poor’s insurer financial strength rating of “A” or below at the effective date of this Reinsurance Agreement.) (This Article shall not apply to Lloyd’s Syndicates who have satisfied their funding obligations to the Credit for Reinsurance Trust Fund (CRTF); however, in the instance where such funding requirements are reduced below 100%, then the provisions of this Article shall apply to any Surety Quota Share Treaty Effective: January 1, 2007 Page 11 of 15 Lloyd’s Syndicate and funding shall be required for the difference between 100% of the Reinsurer’s Collateral funded to the CRTF.) (This Article shall not apply to the Reinsurer who has already fully funded reserves, under this Reinsurance Agreement, per the provisions of the Funding of Reserves Article or Reports and Remittances Article.) At any time subsequent to the inception of this Reinsurance Agreement, in the event thatthat the Reinsurer:

Contingent Collateral. (This Article shall apply only to a Reinsurer with an A.M. Best insurance insurer financial strength rating of “A” or below or a Standard & Poor’s insurer financial strength rating of “A” or below at the effective date of this Reinsurance AgreementContract.) (This Article shall not apply to Lloyd’s Syndicates who have satisfied their funding obligations to the Credit for Reinsurance Trust Fund (CRTF); however, in the instance where such funding requirements are reduced below 100%, then the provisions of this Article shall apply to any Lloyd’s Syndicate and funding shall be required for the difference between 100% of the Reinsurer’s Collateral, as defined in this Article, and the percentage of the Reinsurer’s Collateral funded to the CRTF.) (This Article shall not apply to the Reinsurer who has already fully funded reserves, under this Reinsurance AgreementContract, as per the provisions of the Funding of Reserves Article or Reports and Remittances Article.) At any time subsequent to the inception of this Reinsurance AgreementContract, in the event that: