Security Trust Agreement Sample Clauses

Security Trust Agreement. At the Closing or at any time thereafter, if the Obligations ceded by an Insurer under this Agreement exceed $50 million, the Reinsurer shall transfer to a trust account, for the benefit of such Insurer, assets adequate to secure such Insurer’s Obligations, which trust account shall be established under, and be governed by the terms of, the Security Trust Agreement attached as Exhibit B hereto (the “Security Trust Agreement”). Such trust account shall be in effect for the term provided for in the Security Trust Agreement. Notwithstanding the foregoing, in the event that the Obligations ceded to the Reinsurer under this Agreement and the Amended and Restated CAC Reinsurance Agreement (as defined in the Stock Purchase Agreement) are less than $250 million in the aggregate, the Reinsurer shall not be obligated to establish or maintain any trust account pursuant to this Section 4 of Article VI.

Security Trust Agreement. This Clause 37 is subject to the terms of the Security Trust Agreement.

Security Trust Agreement. Any party to the Security Trust Agreement (other than a Finance Party or a Total Transaction Obligor) fails to comply with the provisions of, or does not perform its obligations under, the Security Trust Agreement; or

Security Trust Agreement. This Agreement is subject to, and has the benefit of, the Security Trust Agreement. In the event of any inconsistency between this Agreement and the Security Trust Agreement, the Security Trust Agreement shall prevail.

Security Trust Agreement. Within forty five (45) days of the Closing Date, Issuer shall register (i) at the Registro General de la Propiedad and the Registro de Garantías Mobiliarias of Guatemala (as applicable), a duly executed, certified and authenticated copy (primer testimonio) of the Security Trust Agreement evidencing the perfection of a security interest on the Facilities, Economic Unit, assets, Project Documents, including contractual rights from the Project Documents, Authorizations, equity participations in Issuer, interests, rights of way and easements, insurance policies and all other related property and assets of the Project and Issuer that are part of the patrimony in trust under the Security Trust Agreement (except in relation to the Usufruct Agreement and usufruct rights (which shall be registered and perfected pursuant to Section 6.18)), and (ii) at the Registro Mercantil, of a duly executed, certified and authenticated copy (primer testimonio) of the Security Trust Agreement evidencing the transfer annotation of the equity participations in Issuer.