Common use of INTERNAL RETROCESSION AGREEMENTS Clause in Contracts

INTERNAL RETROCESSION AGREEMENTS. The Company represents that it intends to cause each of Platinum US and Platinum UK to enter into a Quota Share Retrocession Agreement between such subsidiary and Platinum Bermuda, substantially in the form of EXHIBIT 6.04, pursuant to which Platinum Bermuda will reinsure a portion of the reinsurance liabilities of such subsidiary under all reinsurance contracts written by such subsidiary after the Closing Date excluding business subject to the Quota Share Retrocession Agreements.

INTERNAL RETROCESSION AGREEMENTS. The Company represents that it intends to cause each of Platinum US and Platinum UK to enter into a Quota Share Retrocession Agreement between such subsidiary and Platinum Bermuda, substantially in the form of EXHIBIT Exhibit 6.04, pursuant to which Platinum Bermuda will reinsure a portion of the reinsurance liabilities of such subsidiary under all reinsurance contracts written by such subsidiary after the Closing Date excluding business subject to the Quota Share Retrocession Agreements.

INTERNAL RETROCESSION AGREEMENTS. The Company represents that it intends to cause each of Platinum US and Platinum UK its operating Post-closing Subsidiaries to enter into a Quota Share Retrocession Agreement between such subsidiary and Platinum Bermuda, substantially in the form of EXHIBIT 6.04, pursuant to which Platinum Bermuda will reinsure a portion up to approximately 70% of the reinsurance liabilities of such subsidiary under all reinsurance contracts written by such subsidiary after the Closing Date excluding business subject to the Quota Share Retrocession Agreements.