Establishment of the Trust Account. Within thirty (30) calendar days of the Company's delivery to the Reinsurer of an Election Notice requiring that the Reinsurer secure the Reinsured Liabilities ceded by the Company with a Security Trust, the Reinsurer shall execute the Security Trust Agreement and deposit into an account with the Trustee (the "Security Trust"), naming the Company as the sole beneficiary thereof, assets having a market value in an amount no less than the Required Balance, for the purpose of securing the Reinsured Liabilities under Secured Policies. The Security Trust Agreement shall be substantially in the form of Exhibit B hereto.
Appears in 3 contracts
Samples: Coinsurance Agreement (Ing Life Insurance & Annuity Co), Coinsurance Agreement (Ing Life Insurance & Annuity Co), Asset Purchase Agreement (Lincoln National Corp)
Establishment of the Trust Account. Within thirty (30) calendar days of the Company's ’s delivery to the Reinsurer of an Election Notice requiring that the Reinsurer secure the Reinsured Liabilities ceded by the Company with a Security Trust, the Reinsurer shall execute the Security Trust Agreement and deposit into an account with the Trustee (the "“Security Trust"”), naming the Company as the sole beneficiary thereof, assets having a market value in an amount no less than the Required Balance, for the purpose of securing the Reinsured Liabilities under Secured Policies. The Security Trust Agreement shall be substantially in the form of Exhibit B hereto.
Appears in 2 contracts
Samples: Coinsurance Agreement (ING U.S., Inc.), Coinsurance Agreement (ING U.S., Inc.)
