Common use of Maintenance of the Trust Account Clause in Contracts

Maintenance of the Trust Account. (a) Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, deposit the principal amount of the proceeds of any such payment into the Supplemental Trust Account and give notice to Beneficiary and Grantor of such action. (b) Subject to the receipt of Beneficiary’s prior written consent, Grantor may appoint an investment manager (in such capacity, the “Asset Manager”), to make investment decisions in compliance with the Investment Guidelines with regard to the Assets held by Trustee in the Supplemental Trust Account. Grantor shall promptly notify Trustee in writing of the termination of the appointment of any Asset Manager. From time to time, Grantor, or the Asset Manager, acting on behalf of Grantor, may instruct Trustee to invest Assets in the Supplemental Trust Account in other eligible Assets, and to open brokerage accounts in the name of the trust with Trustee as signer. Trustee agrees to follow any investment instructions from the Asset Manager, and, in the absence of such instructions or instructions from Grantor, Trustee shall not be required to take any action with respect to the investment of the Assets in the Supplemental Trust Account. Grantor shall be responsible for ascertaining whether investments are “eligible” Assets and Trustee shall have no liability with respect to such determination. (c) Grantor shall have the right, with the prior written consent of Beneficiary, which consent shall not be unreasonably withheld or delayed, to withdraw from the Supplemental Trust Account and transfer to Grantor all or any part of the Assets in the Supplemental Account, provided, that Grantor shall, at the time of such withdrawal, replace the withdrawn Assets with other Assets having a fair market value equal to the value of the Assets withdrawn. Prior to any such substitution, Grantor shall certify to Beneficiary and Trustee in writing that as of the date of any substitution the market value of Assets deposited into the Supplemental Trust Account equals or exceeds the market value of Assets to be withdrawn from the Supplemental Trust Account. Trustee shall have no responsibility whatsoever to determine the value of such substituted securities or that such substituted securities constitute eligible Assets, and Trustee shall be fully protected in relying upon such certification from Grantor. (d) When Trustee is directed to deliver or receive Assets against payment, delivery will be made in accordance with generally accepted market practice. (e) Trustee shall keep full and complete records of the administration of the Supplemental Trust Account. Grantor and Beneficiary may examine such records at any time during regular business hours through any person or persons duly authorized in writing by Grantor or Beneficiary.

Maintenance of the Trust Account. (a) Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, deposit the principal amount of the proceeds of any such payment into the Supplemental Reinsurance Trust Account and give notice to Beneficiary and Grantor of such action. (b) Subject to the receipt of Beneficiary’s prior written consent, Grantor may appoint an investment manager (in such capacity, the “Asset Manager”), to make investment decisions in compliance with the Investment Guidelines with regard to the Assets held by Trustee in the Supplemental Reinsurance Trust Account. Grantor shall promptly notify Trustee in writing of the termination of the appointment of any Asset Manager. From time to time, Grantor, or the Asset Manager, acting on behalf of Grantor, may instruct Trustee to invest Assets in the Supplemental Reinsurance Trust Account in other eligible Assets, Eligible Assets and to open brokerage accounts in the name of the trust with Trustee as signer. Trustee agrees to follow any investment instructions from the Asset Manager, and, in the absence of such instructions or instructions from Grantor, Trustee shall not be required to take any action with respect to the investment of the Assets in the Supplemental Reinsurance Trust Account. Grantor shall be responsible for ascertaining whether investments are “eligibleEligible Assets” Assets and Trustee shall have no liability with respect to such determination. (c) Grantor shall have the right, with the prior written consent of Beneficiary, which consent shall not be unreasonably withheld or delayed, to withdraw from the Supplemental Reinsurance Trust Account and transfer to Grantor all or any part of the Assets in the Supplemental Regulation 114 Account, provided, that Grantor shall, at the time of such withdrawal, replace the withdrawn Assets with other Eligible Assets having a fair market value equal to the value of the Assets withdrawn. Prior to any such substitution, Grantor shall certify to Beneficiary and Trustee in writing that as of the date of any substitution the market value of Assets deposited into the Supplemental Reinsurance Trust Account equals or exceeds the market value of Assets to be withdrawn from the Supplemental Reinsurance Trust Account. Trustee shall have no responsibility whatsoever to determine the value of such substituted securities or that such substituted securities constitute eligible Eligible Assets, and Trustee shall be fully protected in relying upon such certification from Grantor. (d) When Trustee is directed to deliver or receive Assets against payment, delivery will be made in accordance with generally accepted market practice. (e) Trustee shall keep full and complete records of the administration of the Supplemental Reinsurance Trust Account. Grantor and Beneficiary may examine such records at any time during regular business hours through any person or persons duly authorized in writing by Grantor or Beneficiary.

Maintenance of the Trust Account. (a) Trustee shall surrender for payment all maturing Assets and all Assets called for redemption, deposit the principal amount of the proceeds of any such payment into the Supplemental Trust Account and give written notice to Beneficiary and Grantor of such action. (b) Subject to the receipt of Beneficiary’s prior written consent, Grantor may appoint an investment manager (in such capacity, the “Asset Manager”), to make investment decisions in compliance with the Investment Guidelines with regard to the Assets held by Trustee in the Supplemental Trust Account. Grantor shall promptly notify Trustee in writing of the termination of the appointment of any Asset Manager. From time to time, Grantor, or the Asset Manager, acting on behalf of Grantor, may may, subject to the Trustee’s receipt of Beneficiary’s prior written consent, instruct Trustee to invest Assets in the Supplemental Trust Account in other eligible Eligible Assets, and to open brokerage accounts in the name of the trust with Trustee as signer. Trustee agrees to follow any such investment instructions from the Asset ManagerManager or Grantor, and, in the absence of such instructions or instructions from Grantorinstructions, Trustee shall not be required to take any action with respect to the investment of the Assets in the Supplemental Trust Account. Any investment direction received hereunder shall constitute a certification by Grantor shall to Trustee that the assets to be responsible for ascertaining whether investments purchased pursuant to such investment direction are “eligibleEligible Assets” Assets and Trustee shall have no liability with respect be entitled to rely on such determination.representation, (c) Grantor shall have the right, with the prior written consent of Beneficiary, which consent shall not be unreasonably withheld or delayed, to withdraw from the Supplemental Trust Account and transfer to Grantor all or any part of the Assets in the Supplemental Trust Account, provided, that Grantor shall, at the time of such withdrawal, Grantor shall, with the prior written consent of Beneficiary, replace the withdrawn Assets with other Eligible Assets having a fair market value at least equal in market value to the value of the Assets withdrawn. Prior to any such substitution, Grantor shall provide Trustee with evidence of Beneficiary’s prior written consent and certify to Beneficiary and Trustee in writing that as of the date of any substitution the market value of Assets to be deposited into the Supplemental Trust Account equals or exceeds the market value of Assets to be withdrawn from the Supplemental Trust Account. Trustee shall have no responsibility whatsoever to determine the value of such substituted securities or that such substituted securities constitute eligible Eligible Assets, and Trustee shall be fully protected in relying upon such certification from Grantor. (d) When Trustee is directed to deliver or receive Assets against payment, delivery will be made in accordance with generally accepted market practice. (e) Trustee shall keep full and complete records of the administration of the Supplemental Trust Account. Grantor and Beneficiary may examine such records at any time during regular business hours through any person or persons duly authorized in writing by Grantor or Beneficiary.