Common use of REPRESENTATIONS AND WARRANTIES OF THE XL PARTIES Clause in Contracts

REPRESENTATIONS AND WARRANTIES OF THE XL PARTIES. Section 4.01 Organization and Authority of the XL Parties 24 Section 4.02 No Conflict 25 Section 4.03 Governmental Consents and Approvals 25 Section 4.04 Capitalization 26 Section 4.05 XL Owned SCA Common Shares 26 Section 4.06 Litigation 26 Section 4.07 Regulatory Approvals 26 Section 4.08 Brokers 26 ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE CDS COUNTERPARTIES Section 5.01 Status 27 Section 5.02 Powers 27 Section 5.03 No Violation or Conflict 27 Section 5.04 Consents 27 Section 5.05 Obligations Binding 27 Section 5.06 Absence of Litigation 27 Section 5.07 Consent to Transactions 27 Section 5.08 Ownership of Insurance Instruments 28 Section 5.09 Brokers 28 ARTICLE VI ADDITIONAL AGREEMENTS Section 6.01 Public Disclosure and Confidentiality 28 Section 6.02 Regulatory and Other Authorizations; Notices and Consents 30 Section 6.03 Notice of Developments 30 Section 6.04 MLI ABS CDO Credit Default Swap Agreements 31 Section 6.05 Third-Party Reinsurance Agreements 31 Section 6.06 Ownership of Insurance Instruments 31 Section 6.07 Compliance with Securities Laws 32 Section 6.08 Passive Investor 32 Section 6.09 XL Owned SCA Common Shares Covenant 32 Section 6.10 Forbearance 32 Section 6.11 Control of Litigation and Cooperation 34 Section 6.12 CDS Counterparty Restructuring 35 Section 6.13 Restriction on Commutations 35 Section 6.14 Treatment of Public Finance Business 36 Section 6.15 Further Action 37 Section 6.16 Resignation of XL Nominees 37 Section 6.17 Disclosure Schedules; Supplementation and Amendment of Schedules 37 Section 6.18 SCA Shareholder Entity 37 Section 6.19 Portfolio Trust 38 Section 6.20 BlackRock 38 Section 6.21 XLFA Merger 38 Section 6.22 Collipulli Temuco and Banco de Brasil Policies 38 Section 6.23 XLFA Redomestication 39 ARTICLE VII CONDITIONS TO CLOSING Section 7.01 Conditions to Obligations of the SCA Parties 39 Section 7.02 Conditions to Obligations of the XL Parties 40 Section 7.03 Conditions to Obligations of the CDS Counterparties 41 Section 7.04 Frustration of Closing Conditions 42 ARTICLE VIII TERMINATION AND WITHDRAWAL Section 8.01 Termination 42 Section 8.02 Effect of Termination 43 Section 8.03 CDS Counterparty Withdrawal 44 ARTICLE IX GENERAL PROVISIONS Section 9.01 Expenses 44 Section 9.02 Notices 44 Section 9.03 Severability 45 Section 9.04 Joinder of CDS Counterparties and Additional SCA Parties 45 Section 9.05 Entire Agreement 46 Section 9.06 Assignment 46 Section 9.07 Amendment 46 Section 9.08 Waiver 46 Section 9.09 No Third-Party Beneficiaries 47 Section 9.10 Rights and Remedies 47 Section 9.11 Indemnification 47 Section 9.12 No Survival 48 Section 9.13 Several Liability of the CDS Counterparties 48 Section 9.14 Governing Law and Jurisdiction 48 Section 9.15 Waiver of Jury Trial 48 Section 9.16 Fully Negotiated Agreement 49 Section 9.17 Currency 49 Section 9.18 Counterparts 49 EXHIBITS Exhibit No. Description

REPRESENTATIONS AND WARRANTIES OF THE XL PARTIES. Section 4.01 Organization and Authority of the XL Parties 24 25 Section 4.02 No Conflict 25 Section 4.03 Governmental Consents and Approvals 25 Section 4.04 Capitalization 26 Section 4.05 XL Owned SCA Common Shares 26 Section 4.06 Litigation 26 Section 4.07 Regulatory Approvals 26 Section 4.08 Brokers 26 27 ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE CDS COUNTERPARTIES Section 5.01 Status 27 Section 5.02 Powers 27 Section 5.03 No Violation or Conflict 27 Section 5.04 Consents 27 Section 5.05 Obligations Binding 27 Section 5.06 Absence of Litigation 27 Section 5.07 Consent to Transactions 27 28 Section 5.08 Ownership of Insurance Instruments 28 Section 5.09 Brokers 28 ARTICLE VI ADDITIONAL AGREEMENTS Section 6.01 Public Disclosure and Confidentiality 28 Section 6.02 Regulatory and Other Authorizations; Notices and Consents 30 Section 6.03 Notice of Developments 30 31 Section 6.04 MLI ABS CDO Credit Default Swap Agreements 31 Section 6.05 Third-Party Reinsurance Agreements 31 Section 6.06 Ownership of Insurance Instruments 31 32 Section 6.07 Compliance with Securities Laws 32 Section 6.08 Passive Investor 32 Section 6.09 XL Owned SCA Common Shares Covenant 32 Section 6.10 Forbearance 32 Section 6.11 Control of Litigation and Cooperation 34 Section 6.12 CDS Counterparty Restructuring 35 Section 6.13 Restriction on Commutations 35 36 Section 6.14 Treatment of Public Finance Business 36 Section 6.15 Further Action 37 Section 6.16 Resignation of XL Nominees 37 Section 6.17 Disclosure Schedules; Supplementation and Amendment of Schedules 37 Section 6.18 SCA Shareholder Entity 37 Section 6.19 Portfolio Trust 38 Section 6.20 BlackRock 38 Section 6.21 XLFA Merger 38 Section 6.22 Collipulli Temuco and Banco de Brasil Policies 38 Section 6.23 XLFA Redomestication 39 ARTICLE VII CONDITIONS TO CLOSING Section 7.01 Conditions to Obligations of the SCA Parties 39 Section 7.02 Conditions to Obligations of the XL Parties 40 Section 7.03 Conditions to Obligations of the CDS Counterparties 41 Section 7.04 Frustration of Closing Conditions 42 ARTICLE VIII TERMINATION AND WITHDRAWAL Section 8.01 Termination 42 Section 8.02 Effect of Termination 43 Section 8.03 CDS Counterparty Withdrawal 44 ARTICLE IX GENERAL PROVISIONS Section 9.01 Expenses 44 Section 9.02 Notices 44 Section 9.03 Severability 45 Section 9.04 Joinder of CDS Counterparties and Additional SCA Parties 45 Section 9.05 Entire Agreement 46 Section 9.06 Assignment 46 Section 9.07 Amendment 46 Section 9.08 Waiver 46 Section 9.09 No Third-Party Beneficiaries 47 Section 9.10 Rights and Remedies 47 Section 9.11 Indemnification 47 Section 9.12 No Survival 48 Section 9.13 Several Liability of the CDS Counterparties 48 Section 9.14 Governing Law and Jurisdiction 48 Section 9.15 Waiver of Jury Trial 48 Section 9.16 Fully Negotiated Agreement 49 Section 9.17 Currency 49 Section 9.18 Counterparts 49 EXHIBITS Exhibit No. Description37

REPRESENTATIONS AND WARRANTIES OF THE XL PARTIES. Section 4.01 Organization and Authority of the XL Parties 24 31 Section 4.02 No Conflict 25 31 Section 4.03 Governmental Consents and Approvals 25 31 Section 4.04 Capitalization 26 32 Section 4.05 XL Owned SCA Common Shares 26 32 Section 4.06 Litigation 26 32 Section 4.07 Regulatory Approvals 26 32 Section 4.08 Brokers 26 33 ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE CDS COUNTERPARTIES Section 5.01 Status 27 33 Section 5.02 Powers 27 33 Section 5.03 No Violation or Conflict 27 33 Section 5.04 Consents 27 33 Section 5.05 Obligations Binding 27 33 Section 5.06 Absence of Litigation 27 33 Section 5.07 Consent to Transactions 27 34 Section 5.08 Ownership of Insurance Instruments 28 34 Section 5.09 Brokers 28 34 ARTICLE VI ADDITIONAL AGREEMENTS Section 6.01 Public Disclosure and Confidentiality 28 34 Section 6.02 Regulatory and Other Authorizations; Notices and Consents 30 36 Section 6.03 Notice of Developments 30 37 Section 6.04 MLI ABS CDO Credit Default Swap Agreements 31 37 Section 6.05 Third-Party Reinsurance Agreements 31 37 Section 6.06 Ownership of Insurance Instruments 31 38 Section 6.07 Compliance with Securities Laws 32 38 Section 6.08 Passive Investor 32 38 Section 6.09 XL Owned SCA Common Shares Covenant 32 38 Section 6.10 Forbearance 32 38 Section 6.11 Control of Litigation and Cooperation 34 40 Section 6.12 CDS Counterparty Restructuring 35 41 Section 6.13 Restriction on Commutations 35 42 Section 6.14 Treatment of Public Finance Business 36 42 Section 6.15 Further Action 37 Section 6.16 Resignation of XL Nominees 37 Section 6.17 Disclosure Schedules; Supplementation and Amendment of Schedules 37 Section 6.18 SCA Shareholder Entity 37 Section 6.19 Portfolio Trust 38 Section 6.20 BlackRock 38 Section 6.21 XLFA Merger 38 Section 6.22 Collipulli Temuco and Banco de Brasil Policies 38 Section 6.23 XLFA Redomestication 39 ARTICLE VII CONDITIONS TO CLOSING Section 7.01 Conditions to Obligations of the SCA Parties 39 Section 7.02 Conditions to Obligations of the XL Parties 40 Section 7.03 Conditions to Obligations of the CDS Counterparties 41 Section 7.04 Frustration of Closing Conditions 42 ARTICLE VIII TERMINATION AND WITHDRAWAL Section 8.01 Termination 42 Section 8.02 Effect of Termination 43 Section 8.03 CDS Counterparty Withdrawal 44 ARTICLE IX GENERAL PROVISIONS Section 9.01 Expenses 44 Section 9.02 Notices 44 Section 9.03 Severability 45 Section 9.04 Joinder of CDS Counterparties and Additional SCA Parties 45 Section 9.05 Entire Agreement 46 Section 9.06 Assignment 46 Section 9.07 Amendment 46 Section 9.08 Waiver 46 Section 9.09 No Third-Party Beneficiaries 47 Section 9.10 Rights and Remedies 47 Section 9.11 Indemnification 47 Section 9.12 No Survival 48 Section 9.13 Several Liability of the CDS Counterparties 48 Section 9.14 Governing Law and Jurisdiction 48 Section 9.15 Waiver of Jury Trial 48 Section 9.16 Fully Negotiated Agreement 49 Section 9.17 Currency 49 Section 9.18 Counterparts 49 EXHIBITS Exhibit No. Description43