Common use of Deposit of Assets Clause in Contracts

Deposit of Assets. Prior to depositing assets in the SLDI Reserve Trust Account, Reinsurer will execute assignments or endorsements in blank, or transfer legal title to the trustee of all shares, obligations or any other assets requiring assignments, in order that the Company, or the trustee upon the direction of the Company, may whenever necessary negotiate these assets without the consent or signature from the Reinsurer or any other entity.

Deposit of Assets. Prior to depositing assets in the SLDI SLD Reserve Trust Account, Reinsurer will execute assignments or endorsements in blank, or transfer legal title to the trustee of all shares, obligations or any other assets requiring assignments, in order that the Company, or the trustee upon the direction of the Company, may whenever necessary negotiate these assets without the consent or signature from the Reinsurer or any other entity.