Common use of Deposit of Assets to the Trust Account Clause in Contracts

Deposit of Assets to the Trust Account. The Grantor hereby establishes the Trust Account with the Trustee for the use and benefit of the Beneficiary and the Direct Insurer, under the terms set forth herein. The Beneficiary is required to deposit (or the Direct Insurer on behalf of the Beneficiary shall deposit), on behalf of the Grantor as Grantor of the Trust Account as an initial deposit the assets listed on Schedule [__] attached hereto. The Trustee shall administer the Trust Account in its name as trustee for the benefit of the Beneficiary and the Direct Insurer. The Trust Account shall be subject to withdrawal by the Beneficiary, the Direct Insurer and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Agreement.