Retrocession. (a) At the direction of the Company, the Underwriting Manager shall arrange and purchase retrocessional cover for the benefit of the Company (“Ceded Retrocession Agreements”). Except as directed by the Company, the Underwriting Manager shall have no authority hereunder to purchase or otherwise bind retrocessional cover for the benefit of the Company or to terminate, waive or amend the terms of any Ceded Retrocession Agreements.
Appears in 3 contracts
Samples: Underwriting Services Agreement (ALTERRA CAPITAL HOLDINGS LTD), Underwriting Services Agreement (ALTERRA CAPITAL HOLDINGS LTD), Underwriting Services Agreement (ALTERRA CAPITAL HOLDINGS LTD)
Retrocession. (a) At the direction of the Company, the Underwriting Manager shall arrange and purchase retrocessional cover for the benefit of the Company (“Ceded Retrocession Agreements”). Except For the avoidance of doubt, except as directed by the Company, the Underwriting Manager shall have no authority hereunder to purchase or otherwise bind retrocessional cover for the benefit of the Company or to terminate, waive or amend the terms of any Ceded Retrocession Agreements.
Appears in 1 contract
Samples: Underwriting Services Agreement (ALTERRA CAPITAL HOLDINGS LTD)
