PURPOSE OF THE TRUST. The Assets in the Trust Account shall be held by the Trustee for the sole benefit of the Beneficiary. The Grantor grants to the Trustee all trust powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.
Appears in 8 contracts
Samples: Loss Portfolio Transfer Reinsurance Agreement, Aggregate Excess of Loss Reinsurance Agreement (Hartford Financial Services Group Inc/De), Trust Agreement (American International Group Inc)
PURPOSE OF THE TRUST. (a) The Assets in the Trust Account shall be held by the Trustee for the sole benefit purpose of satisfying any obligations of the Beneficiary. Grantor to the Beneficiary with respect to the Subject Liabilities under the Reinsurance Agreement.
(b) The Grantor grants to the Trustee all trust powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.
Appears in 2 contracts
Samples: Trust Agreement (American International Group Inc), Aggregate Excess of Loss Reinsurance Agreement (American International Group Inc)
PURPOSE OF THE TRUST. The Assets in the Trust Account shall be held by the Trustee for the sole benefit purpose of satisfying any obligations of the Beneficiary. The Grantor grants to the Trustee all trust powers necessary and reasonable in Beneficiaries with respect to the performance of its duties hereunder except as otherwise expressly provided hereinBusiness Covered under the LPT Reinsurance Agreement.
Appears in 1 contract
PURPOSE OF THE TRUST. (a) The Assets in the Trust Account shall be held by the Trustee for the sole benefit purpose of satisfying any obligations of the Beneficiary. Grantor to the Beneficiary with respect to the Reinsured Liabilities under the Reinsurance Agreement.
(b) The Grantor grants to the Trustee all trust powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.
Appears in 1 contract
Samples: Aggregate Excess of Loss Reinsurance Agreement (Hartford Financial Services Group Inc/De)
PURPOSE OF THE TRUST. (a) The Assets in the Trust Account shall be held by the Trustee for the sole benefit purpose of satisfying any obligations of the Beneficiary. Grantor to the Beneficiaries with respect to the Business Covered under the LPT Reinsurance Agreement.
(b) The Grantor grants to the Trustee all trust powers necessary and reasonable in the performance of its duties hereunder except as otherwise expressly provided herein.
Appears in 1 contract
Samples: Trust Agreement (Cna Financial Corp)
