Common use of ModCo Account; Investment Guidelines Clause in Contracts

ModCo Account; Investment Guidelines. (a) On the Closing Date, the Ceding Company (i) established one or more custodial accounts (the “ ModCo Account”) and (ii) in accordance with Section 3.1(a), made the Initial ModCo Deposit. The ModCo Account and the assets maintained therein will (x) be retained, controlled, owned and maintained by the Ceding Company, (y) be used exclusively for the purposes set forth in this Agreement and (z) be maintained by the Ceding Company in one or more custodial accounts segregated and distinct from the Ceding Company’s other general account assets. Such assets shall be valued, for purposes of this Agreement, according to their Statutory Book Value. In accordance with SAP, the Ceding Company elects to cede all realized capital gains and losses in respect of the ModCo Assets to the Reinsurer on a gross basis.

ModCo Account; Investment Guidelines. (a) On the Closing Date, the Ceding Company (i) established one or more custodial accounts (the “ “ModCo Account”) and (ii) in accordance with Section 3.1(a), made the Initial ModCo Deposit. The ModCo Account and the assets maintained therein will (x) be retained, controlled, owned and maintained by the Ceding Company, (y) be used exclusively for the purposes set forth in this Agreement and (z) be maintained by the Ceding Company in one or more custodial accounts segregated and distinct from the Ceding Company’s other general account assets. Such assets shall be valued, for purposes of this Agreement, according to their Statutory Book Value. In accordance with SAP, the Ceding Company elects to cede all realized capital gains and losses in respect of the ModCo Assets to the Reinsurer on a gross basis.