Common use of Short-Term Demand Deposits in Pool Clause in Contracts

Short-Term Demand Deposits in Pool. Subject to the terms and conditions of this Agreement, and relying upon the representations and covenants set forth herein, Participant may make short-term demand deposits in the Pool from time to time of certain of its excess funds at a taxable money market rate of interest; provided, however, that the aggregate amount of such deposits at any time shall not exceed ten percent (10%) of the Insurer's assets as reported in its annual statement filed with state regulators for the prior year-end.

Short-Term Demand Deposits in Pool. Subject to the terms and conditions of this Agreement, and relying upon the representations and covenants set forth herein, Participant may make short-term demand deposits in the Pool from time to time of certain of its excess funds at a taxable money market rate of interest; provided, however, that the aggregate amount of such deposits at any time shall not exceed ten three percent (103%) of the Insurer's assets as reported in its annual statement filed with state regulators for the prior year-end.