Common use of Termination of Trust Account Clause in Contracts

Termination of Trust Account. Notwithstanding anything to the contrary herein, if the report required to be delivered by the Reinsurer as described in Section 4.6 with respect to any Quarterly Accounting Period demonstrates that the sum of the Required Balance plus the amount of any outstanding Financed Amounts is less than or equal to $50,000,000, then (i) the Reinsurer and the Ceding Company shall promptly deliver a Notice of Minimum Balance to the Trustee and (ii) the Reinsurer shall have no further obligation to maintain any assets in the Trust Account pursuant to this Agreement.

Termination of Trust Account. Notwithstanding anything to the contrary herein, if the report required to be delivered by the Reinsurer as described in Section SECTION 4.6 with respect to any Quarterly Accounting Period demonstrates that the sum of the Required Balance plus the amount of any outstanding Financed Amounts is less than or equal to $50,000,000, then (i) the Reinsurer and the Ceding Company shall promptly deliver a Notice of Minimum Balance to the Trustee and (ii) the Reinsurer shall have no further obligation to maintain any assets in the Trust Account pursuant to this Agreement.

Termination of Trust Account. Notwithstanding anything to the contrary herein, if the report required to be delivered by the Reinsurer as described in Section 4.6 with respect to any Quarterly Accounting Period 4.8(a) demonstrates that the sum of the Required Balance plus the amount of any outstanding Financed Amounts is less than or equal to $50,000,000, 45,000,000,5 then (ia) the Reinsurer and the Ceding Company shall promptly deliver a Notice of Minimum Balance to the Trustee to terminate the Trust Account and (iib) the Reinsurer shall have no further obligation to maintain any assets asset in the Trust Account pursuant to this Agreement.