Common use of Ranking of Funds at Lloyd’s Clause in Contracts

Ranking of Funds at Lloyd’s. It is acknowledged by the parties hereto that, subject to the duties of Lloyd’s as trustee of all Funds at Lloyd’s and to any conditions and requirements prescribed under the Membership Byelaw (No. 5 of 2005) which are for the time being applicable, the Facility will provide Funds at Lloyd’s for the Account Party which, to the extent that the Borrower is able to procure the same upon and subject to the terms of this Agreement, shall rank senior to all other Funds at Lloyd’s of the Account Party from time to time (the “Subordinated Funds at Lloyd’s”).

Ranking of Funds at Lloyd’s. It is acknowledged by the parties hereto that, subject to the duties of Lloyd’s 's as trustee of all Funds at Lloyd’s 's and to any conditions and requirements prescribed under the Membership Byelaw (No. 5 of 2005) which are for the time being applicable, the Facility will provide Funds at Lloyd’s 's for the Account Party which, to the extent that the Borrower is such parties are able to procure the same upon and subject to the terms of this Agreement, shall rank senior to only be applied after all other Funds at Lloyd’s of the Own FAL of the Account Party from time to time (the “Subordinated Funds at Lloyd’s”)has been exhausted.

Ranking of Funds at Lloyd’s. It is acknowledged by the parties hereto that, subject to the duties of Lloyd’s as trustee of all Funds at Lloyd’s and to any conditions and requirements prescribed under the Membership Byelaw (No. 5 of 2005) which are for the time being applicable, the Facility will provide Funds at Lloyd’s for the Account Party which, to the extent that the Borrower is such parties are able to procure the same upon and subject to the terms of this Agreement, shall rank senior to only be applied after all other Funds at Lloyd’s of the Own FAL of the Account Party from time to time (the “Subordinated Funds at Lloyd’s”)has been exhausted.

Ranking of Funds at Lloyd’s. It is acknowledged by the parties hereto that, subject to the duties of Lloyd’s as trustee of all Funds at Lloyd’s and to any conditions and requirements prescribed under the Membership Byelaw (No. 5 of 2005) which are for the time being applicable, the Facility will provide Funds at Lloyd’s for the Account Party which, to the extent that the Borrower is able to procure the same upon and subject to the terms of this Agreement, shall rank senior to all other Funds at Lloyd’s of the Account Party from time to time other than the HCC Re FAL (the “Subordinated Funds at Lloyd’s”).

Ranking of Funds at Lloyd’s. It is acknowledged by Each of the parties hereto agrees and acknowledges that, subject to the duties of Lloyd’s Xxxxx'x as trustee of all Funds at Lloyd’s 's and to any conditions and requirements prescribed under the Membership Byelaw (No. 5 of 2005) which are for the time being applicable, the Facility Letters of Credit will provide Funds at Lloyd’s 's for the Account Party which, to Parties and shall only be applied in accordance with the extent that the Borrower is able to procure the same upon and subject to the terms applicable rules or procedures of this Agreement, shall rank senior to all other Funds at Lloyd’s of the Account Party from time to time (the “Subordinated Funds at Lloyd’s”)'s.