Common use of Segregated Asset Portfolio Clause in Contracts

Segregated Asset Portfolio. The Ceding Company shall establish and maintain a Segregated Asset Portfolio as described herein. The Segregated Asset Portfolio is comprised of those assets supporting the Annuities and will be equal to or greater than the Modified Coinsurance Reserve, as described in Schedule B, Paragraph 2. The assets of the Segregated Asset Portfolio of the Ceding Company shall be placed in the Segregated Custodial Account described in Paragraph 2 below. Subsequent to the Effective Date of this Agreement, Cash Flows, as defined in Schedule D, with respect to the annuities reinsured hereunder will be transferred into the Segregated Asset Portfolio on Monday and Wednesday of each calendar week that does not involve a holiday (or at least twice each calendar week where either Monday or Wednesday are a holiday) and will earn a short-term interest rate, such as rates available on overnight repurchase agreements, institutional money market accounts or commercial paper, from that point until they are invested in longer term investments. The Ceding Company will retain, control and own all assets held in the Segregated Asset Portfolio. The Segregated Asset Portfolio will be managed by AEGON USA Investment Management, Inc. (AUIM) in accordance with the Investment Policy described in Schedule F. Notwithstanding the preceding, in no event may the Ceding Company withdraw assets from the Segregated Custodial Account as defined in Paragraph 2, below, except as may be provided in this Schedule E or as may be provided in the Investment Management Agreement between AUIM and the Ceding Company, without the prior written consent of the Reinsurer.

Segregated Asset Portfolio. The Ceding Company shall establish and maintain a Segregated Asset Portfolio as described herein. The Segregated Asset Portfolio is comprised of those assets supporting the Annuities and will be equal to or greater than the Modified Coinsurance Reserve, as described in Schedule B, Paragraph 2. The assets of the Segregated Asset Portfolio of the Ceding Company shall be placed in the Segregated Custodial Account described in Paragraph 2 below. Subsequent to the Effective Date of this Agreement, Cash Flows, as defined in Schedule D, with respect to the annuities Annuities reinsured hereunder will be transferred into the Segregated Asset Portfolio on Monday and Wednesday of each calendar week that does not involve a holiday (or at least twice each calendar week where either Monday or Wednesday are a holiday) and will earn a short-term interest rate, such as rates available on overnight repurchase agreements, institutional money market accounts or commercial paper, from that point until they are invested in longer term investments. The Ceding Company will retain, control and own all assets held in the Segregated Asset Portfolio. The Segregated Asset Portfolio will be managed by AEGON USA Investment Management, Inc. (AUIM) in accordance with the Investment Policy described in Schedule F. Notwithstanding the preceding, in no event may the Ceding Company withdraw assets from the Segregated Custodial Account as defined in Paragraph 2, below, except as may be provided in this Schedule E or as may be provided in the Investment Management Agreement between AUIM and the Ceding Company, without the prior written consent of the Reinsurer.