Common use of Reserve Credit Trust Clause in Contracts

Reserve Credit Trust. If assets are deposited into a trust as security for the Ceding Company’s reserve credit, it is the intention of all parties that this Paragraph 22 shall set forth the terms and conditions under which any reserve credit trust provided hereunder shall be established. The Reinsurer as grantor and the Ceding Company as beneficiary will enter into a trust agreement with a trustee pursuant to which the trust will be established and funded. The terms of the trust agreement and the trustee bank shall be acceptable to the regulatory authority(ies) having jurisdiction. Assets held in the trust may be in the form of any of the following:

Reserve Credit Trust. If assets are deposited into a trust as security for the Ceding Company’s reserve credit, it is the intention of all parties that this Paragraph 22 shall set forth the terms and conditions under which any reserve credit trust provided hereunder shall be established. The Reinsurer as grantor and the Ceding Company as beneficiary will enter into a trust agreement with a trustee pursuant to which the trust will be established and funded. The terms of the trust agreement and the trustee bank shall be acceptable to the regulatory authority(ies) having jurisdiction. Assets held in the trust may be in the form of any of the following:.

Reserve Credit Trust. If assets are deposited into a trust as security for the Ceding Company’s reserve credit, it is the intention of all parties that this Paragraph 22 shall set forth the terms and conditions under which any reserve credit trust provided hereunder shall be established. The Reinsurer as grantor and the Ceding Company as beneficiary will enter into a trust agreement with a trustee pursuant to which the trust will be established and funded. The terms of the trust agreement and the trustee bank shall be acceptable to the regulatory authority(ies) having jurisdiction. Assets held in the trust may be in the form of any of the following:: (i) Cash;