Trust Account Withdrawals. If, as of any month end on and after the Closing Date, (x) the Trust Account Balance exceeds the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus (y) if applicable, the Retrocession Trust Account Balance (if any), then within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report for such month end, the Reinsurer may make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets, subject to the Company’s prior written consent, which consent shall be granted if all of the following conditions and those set forth in clause (x) above are satisfied after any such withdrawal and shall be deemed granted if the Company has not provided the Reinsurer and Trustee a written response within five (5) Business Days of receipt of Reinsurer’s written demand: (a) no Recapture Event has occurred and is continuing (unless a recapture in respect of such Recapture Event is no longer exercisable); (b) the Book Value, including accrued interest for so long as such interest is credited by the Trustee, of the Trust Account assets shall be no less than the Required Balance, minus if applicable, amounts withdrawn by the Company in accordance with Section 9.8 that are subject to a good faith dispute, provided that such reduction shall only be permitted to the extent that such disputed amount has not already been reflected in the NAIC Reserves incorporated in the Required Balance, minus if applicable, the Retrocession Trust Account Balance (if any) after such withdrawal; and (c) all the assets held in the Trust Account after such withdrawal are Eligible Trust Account Assets; provided, however, that with respect to any withdrawal and transfer of cash in connection with the payment by the Reinsurer of an amount specified in a Monthly Reinsurance Settlement Report, if the conditions in (x) and (a) through (c) are all met, the Reinsurer may direct the Trustee to release such cash to the Company without prior notice to or approval by the Company, upon presentation to the Trustee of (i) a copy of the applicable Monthly Reinsurance Settlement Report delivered by the Company to the Reinsurer and (ii) ...
Trust Account Withdrawals. Assets in the Trust Account may be withdrawn by Company at any time, notwithstanding any other provisions in this Agreement, and shall be utilized and applied by Company or any successor of Company by operation of law, including without limitation any liquidator, rehabilitator, receiver or conservator of Company, without diminution because of insolvency on the part of Company or Reinsurer, only for the following purposes:
Trust Account Withdrawals. At any time after the establishment of the Trust Account and initial deposit of Eligible Assets pursuant to Section 6.1, if, as of the end of any Accounting Period, the Trust Account Balance exceeds the Required Balance, then within
Trust Account Withdrawals. (a) In the absence of an ongoing Adverse Financial Event, RBC Ratio Triggering Event, or Reinsurance Credit Event, if, as of any quarter end after the Closing Date, the sum of the aggregate Book Value of all Eligible Trust Account Assets and Letters of Credit, if any, in the Trust Account, plus the aggregate Book Value of assets withdrawn from the Trust Account and held by the Company, exceeds the Required Balance, the Reinsurer may, in accordance with the Trust Agreement, make a written demand to the Trustee to release to the Reinsurer assets in the Trust Account and the Trustee shall release such assets in an amount with a Book Value not more than such excess.
Trust Account Withdrawals. A. Subject to this Article IV, Paragraph 8, the Ceding Company or any successor of the Ceding Company may withdraw cash and/or assets from the Trust Account to pay, and only to pay, to the Ceding Company any Net Settlement or Terminal Accounting and Settlement then due and payable by the Reinsurer under the terms and provisions of this Agreement and shall only do so in accordance with the Trust Agreement and after delivering a certification by the Ceding Company to the Trustee and the Reinsurer in the form set forth in the Trust Agreement as a “Beneficiary Withdrawal Notice” that the conditions of this Paragraph have been satisfied.
