Common use of Repayment of Cash Collateral Clause in Contracts

Repayment of Cash Collateral. If, following the provision of Cash Collateral to the Trustee in accordance with clause 6.2 (Action upon Ratings Downgrade) above: (a) the Rating assigned to the Borrower by Standard and Poor’s is A- or better; (b) the Rating assigned to the Borrower by Xxxxx’x is Baa2 or better; and (c) the Rating assigned to any Material Subsidiary (other than HCC Re) by A.M. Best is A or better, the Trustee shall, upon three Business Days’ notice from the Borrower, repay such Cash Collateral to the Borrower.

Repayment of Cash Collateral. If, following the provision of Cash Collateral to the Trustee in accordance with clause Clause 6.2 (Action upon Ratings Downgrade) above: (a) 6.4.1 the Rating assigned to the Borrower by Standard and Poor’s is A- or better; (b) 6.4.2 the Rating assigned to the Borrower by Xxxxx’x is Baa2 or better; and (c) 6.4.3 the Rating assigned to any Material Subsidiary (other than HCC Re) by A.M. Best is A or better, the Trustee shall, upon three Business Days’ notice from the Borrower, repay such Cash Collateral to the Borrower.

Repayment of Cash Collateral. If, following the provision of Cash Collateral to the Trustee in accordance with clause Clause 6.2 (Action upon Ratings Downgrade) above: (a) 6.4.1 the Rating assigned to the Borrower by Standard and Poor’s is A- or better; (b) the Rating assigned to the Borrower by Xxxxx’x is Baa2 or better; and (c) 6.4.2 the Rating assigned to any Material Subsidiary Company (other than HCC Re) by A.M. Best is A or better, the Trustee shall, upon three Business Days’ notice from the Borrower, repay such Cash Collateral to the Borrower.