TRUST AGREEMENT PROVISIONS Sample Clauses

TRUST AGREEMENT PROVISIONS a. Under the circumstances described in the last paragraph of Section 23 of this Agreement or under the circumstances described in Section 12 of this Schedule A, THE REINSURER may enter into, and maintain during the entire term of this Agreement, a Trust Agreement to establish a trust account securing the Credit Amount (as defined in subsection b. below), so as to avoid triggering THE COMPANY's right of recapture under Section 20. If THE REINSURER enters into a Trust Agreement to establish a trust account securing the Credit Amount, the Trust Agreement must satisfy the requirements of subsections b., c., d., e., f., g., h. and i. below. The trustee of the Trust shall be a "Qualified Financial Institution" in accordance with applicable New Jersey regulations..
Sample 1
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TRUST AGREEMENT PROVISIONS. Under the circumstances described in the ‘RISK TRIGGER EVENT’ section of Schedule A of this Agreement, THE REINSURER may enter into, and maintain during the term of this Agreement, a Trust Agreement to establish a trust account securing the Security Amount (as defined in subsection b. of this ‘TRUST AGREEMENT PROVISIONS’ section), so as to avoid triggering THE COMPANY’s right of recapture under the ‘RECAPTURE’ section. If THE REINSURER enters into a Trust Agreement, the trust Agreement must satisfy the requirements of Subsections a, b., c., d., e., f. and g.of this ‘TRUST AGREEMENT PROVISIONS’ section. • Fifteen (15) days after the end of each calendar quarter or at any other time, THE COMPANY will determine and communicate the Security Amount (as defined in this Subsection ‘a’.) to THE REINSURER. The Security Amount shall be an amount at least equal to the deduction for reinsurance ceded from THE COMPANY’s liabilities for policies ceded under this Agreement plus a provision for adverse deviation and opportunity cost. Such amount shall include, but not be limited to, GAAP reserve credits, reserves for claims and losses incurred (including losses incurred but not reported), and loss adjustment expenses. THE COMPANY will determine and communicate this amount to THE REINSURER in order to enable THE REINSURER to ensure that the Trust is maintained with a sufficient balance. All costs and YRT-VUL 2008-2008-SGL(US)-PICA expenses of maintaining the trust will be borne by THE REINSURER and will not be paid by any of the assets held in the Trust. • THE REINSURER will deposit into the trust on or before a date agreed to by the parties assets that cause the market value of the trust to meet or exceed 102% of the most recently communicated Security Amount immediately prior to the date for the deposit of assets into the Trust. In addition, as provided by the Trust Agreement, THE REINSURER shall make future additional deposits into the Trust so as to cause the market value of the trust assets at all times to meet or exceed 103% of the Security Amount. THE REINSURER shall make such deposit(s) within fifteen (15) days of receiving notification of the Security Amount. • The assets deposited in the trust account shall be valued according to their current fair market value, and shall consist of only those instruments detailed within the Trust Agreement, provided that such investments are issued by an institution that is not a parent, subsidiary, or an affiliate of either THE...
Sample 1
TRUST AGREEMENT PROVISIONS a. Under the circumstances described in the ‘TOTAL SECURITY’ section of this Agreement, THE REINSURER may enter into a Trust Agreement to establish a trust account securing all the amounts recoverable from THE REINSURER under this Agreement so as to avoid triggering THE COMPANY’s right of recapture under the ‘RECAPTURE’ section of this Agreement. If THE REINSURER elects to do so, the Trust Agreement must satisfy the requirements of subsections b, c, d, e, f, g, and h. of this ‘TRUST AGREEMENT PROVISIONS’ section.
Sample 1Sample 2
TRUST AGREEMENT PROVISIONS b. Under the circumstances described in the last paragraph of Section 10 of this Schedule A, THE REINSURER may enter into, and maintain during the entire term of this Agreement, a Trust Agreement securing the Credit Amount, so as to avoid triggering THE COMPANY's right of recapture under Section 19. If THE REINSURER enters into a Trust Agreement to establish a trust account securing the Credit Amount, the Trust Agreement must satisfy the requirements of subsections b., c., d., e., f., g., h. and i. below. The Trustee of the Trust shall be a "qualified financial institution" as defined in NJSA 17:51B-1.
Sample 1
TRUST AGREEMENT PROVISIONS b. Under the circumstances described in the last paragraph of Section 10 of this Schedule A, THE REINSURER may enter into, and maintain during the entire term of this Agreement, a Trust Agreement securing the Credit Amount, so as to avoid triggering THE COMPANY's right of recapture under Section 19. If THE REINSURER enters into a Trust Agreement to establish a trust account securing the Credit Amount, the Trust Agreement must satisfy the requirements of subsections b., c., d., e., f., g., h. and i. below. The Trustee of the Trust shall be a "qualified financial institution" as defined in A.R.S. § 20-261.03.
Sample 1
TRUST AGREEMENT PROVISIONS. Under the circumstances described in the ‘RISK TRIGGER EVENT’ section of Schedule A of this Agreement, THE REINSURER may enter into, and maintain during the term of this Agreement, a Trust Agreement to establish a trust account securing the Security Amount (as defined in subsection b. of this ‘TRUST AGREEMENT PROVISIONS’ section), so as to avoid triggering THE COMPANY’s right of recapture under the ‘RECAPTURE’ section. If THE REINSURER enters into a Trust Agreement, the trust Agreement must satisfy the requirements of Subsections a, b., c., d., e., f. and g.of this ‘TRUST AGREEMENT PROVISIONS’ section.
Sample 1

Related to TRUST AGREEMENT PROVISIONS

  • Agreement Provisions If the Company, on behalf of any Account, purchases Trust Portfolio shares (“Eligible Shares”) that are subject to a Rule 12b-1 plan adopted under the 1940 Act (the “Plan”), the Company, on behalf of its Distributor, may participate in the Plan. To the extent the Company or its affiliates, agents or designees (collectively “you”) provide any activity or service that is primarily intended to assist in the promotion, distribution or account servicing of Eligible Shares (“Rule 12b-1 Services”) or variable contracts offering Eligible Shares, the Underwriter, the Trust or their affiliates (collectively, “we”) may pay you a Rule 12b-1 fee. “Rule 12b-1 Services” may include, but are not limited to, printing of prospectuses and reports used for sales purposes, preparing and distributing sales literature and related expenses, advertisements, education of dealers and their representatives, and similar distribution-related expenses, furnishing personal services to owners of Contracts which may invest in Eligible Shares (“Contract Owners”), education of Contract Owners, answering routine inquiries regarding a Portfolio, coordinating responses to Contract Owner inquiries regarding the Portfolios, maintaining such accounts or providing such other enhanced services as a Trust Portfolio or Contract may require, or providing other services eligible for service fees as defined under FINRA rules. Your acceptance of such compensation is your acknowledgment that eligible services have been rendered. All Rule 12b-1 fees, shall be based on the value of Eligible Shares owned by the Company on behalf of its Accounts, and shall be calculated on the basis and at the rates set forth in the compensation provision stated above. The aggregate annual fees paid pursuant to each Plan shall not exceed the amounts stated as the “annual maximums” in the Portfolio’s prospectus, unless an increase is approved by shareholders as provided in the Plan. These maximums shall be a specified percent of the value of a Portfolio’s net assets attributable to Eligible Shares owned by the Company on behalf of its Accounts (determined in the same manner as the Portfolio uses to compute its net assets as set forth in its effective Prospectus). The Rule 12b-1 fee will be paid to you within thirty (30) days after the end of the three-month periods ending in January, April, July and October. You shall furnish us with such information as shall reasonably be requested by the Trust’s Boards of Trustees (“Trustees”) with respect to the Rule 12b-1 fees paid to you pursuant to the Plans. We shall furnish to the Trustees, for their review on a quarterly basis, a written report of the amounts expended under the Plans and the purposes for which such expenditures were made. The Plans and provisions of any agreement relating to such Plans must be approved annually by a vote of the Trustees, including the Trustees who are not interested persons of the Trust and who have no financial interest in the Plans or any related agreement (“Disinterested Trustees”). Each Plan may be terminated at any time by the vote of a majority of the Disinterested Trustees, or by a vote of a majority of the outstanding shares as provided in the Plan, on sixty (60) days’ written notice, without payment of any penalty, or as provided in the Plan. Continuation of the Plans is also conditioned on Disinterested Trustees being ultimately responsible for selecting and nominating any new Disinterested Trustees. Under Rule 12b-1, the Trustees have a duty to request and evaluate, and persons who are party to any agreement related to a Plan have a duty to furnish, such information as may reasonably be necessary to an informed determination of whether the Plan or any agreement should be implemented or continued. Under Rule 12b-1, the Trust is permitted to implement or continue Plans or the provisions of any agreement relating to such Plans from year-to-year only if, based on certain legal considerations, the Trustees are able to conclude that the Plans will benefit each affected Trust Portfolio and class. Absent such yearly determination, the Plans must be terminated as set forth above. In the event of the termination of the Plans for any reason, the provisions of this Schedule F relating to the Plans will also terminate. You agree that your selling agreements with persons or entities through whom you intend to distribute Contracts will provide that compensation paid to such persons or entities may be reduced if a Portfolio’s Plan is no longer effective or is no longer applicable to such Portfolio or class of shares available under the Contracts. Any obligation assumed by the Trust pursuant to this Agreement shall be limited in all cases to the assets of the Trust and no person shall seek satisfaction thereof from shareholders of the Trust. You agree to waive payment of any amounts payable to you by Underwriter under a Plan until such time as the Underwriter has received such fee from the Trust. The provisions of the Plans shall control over the provisions of the Participation Agreement, including this Schedule F, in the event of any inconsistency. You agree to provide complete disclosure as required by all applicable statutes, rules and regulations of all rule 12b-1 fees received from us in the prospectus of the Contracts.

  • Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company, and is a valid and binding agreement of the Company, enforceable against the Company, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.

  • Trust Provisions 16.16.1 The trusts constituted or evidenced in or by this Agreement and the Trust Deed shall remain in full force and effect until whichever is the earlier of:

  • The Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

  • Collateral Trust Agreement This Article 12 and the provisions of each other Security Document are subject to the terms, conditions and benefits set forth in the Collateral Trust Agreement. The Company consents to, and agrees to be bound by, the terms of the Collateral Trust Agreement, as the same may be in effect from time to time, and to perform its obligations thereunder in accordance with the terms therewith.

  • Termination of Trust Agreement Section 9.01.

  • Amendment of Trust Agreement The Trust Agreement may be amended or supplemented from time to time by the Depositor and the Trustee without the consent of any of the Certificateholders to (a) cure any ambiguity, (b) correct or supplement any provisions herein which may be inconsistent with any other provisions herein, (c) modify, eliminate or add to any of its provisions to such extent as shall be necessary or appropriate to maintain the qualification of the Trust (or any assets thereof) either as a REMIC, as applicable under the Code at all times that any Certificates are outstanding or (d) make any other provisions with respect to matters or questions arising under the Trust Agreement or matters arising with respect to the Trust which are not covered by the Trust Agreement which shall not be inconsistent with the provisions of the Trust Agreement, provided that such action shall not adversely affect in any material respect the interests of any Certificateholder. Any such amendment or supplement shall be deemed not to adversely affect in any material respect any Certificateholder if there is delivered to the Trustee written notification from each Rating Agency that rated the applicable Certificates to the effect that such amendment or supplement will not cause that Rating Agency to reduce the then current rating assigned to such Certificates, as well as an Opinion of Counsel that such amendment or supplement will not result in the loss by the Trust or the assets thereof of REMIC status. The Trust Agreement may also be amended from time to time by the Depositor and the Trustee with the consent of the Holders of Certificates entitled to at least 66% of the Voting Rights for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust Agreement or of modifying in any manner the rights of the Holders of Certificates; provided, however, that no such amendment shall (A) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate without the consent of the Holder of such Certificate, (B) adversely affect in any material respect the interests of the Holders of any Class of Certificates, or (C) reduce the aforesaid percentage of Certificates the Holders of which are required to consent to any such amendment, unless each Holder of a Certificate affected by such amendment consents. For purposes of the giving or withholding of consents pursuant to this Section 11.01, Certificates registered in the name of the Depositor or an Affiliate shall be entitled to Voting Rights with respect to matters affecting such Certificates. Prior to consenting to any amendment, the Trustee shall be entitled to receive an Opinion of Counsel from the Depositor stating that the proposed amendment is authorized and permitted pursuant to this Trust Agreement. Promptly after the execution of any such amendment, the Trustee shall notify Certificateholders of such amendment and, upon written request, furnish a copy of such amendment to any Certificateholder. It shall not be necessary for the consent of Certificateholders under this Section 11.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable regulations as the Trustee may prescribe.

  • Payment Provisions The Company covenants that so long as this Note is outstanding:

  • Amendments to Trust Agreement Subject to Section 11.1 of the Trust Agreement, the Indenture Trustee shall, upon Issuer Order, consent to any proposed amendment to the Trust Agreement or an amendment to or waiver of any provision of any other document relating to the Trust Agreement, such consent to be given without the necessity of obtaining the consent of the Owners of any Notes upon satisfaction of the requirements under Section 11.1 of the Trust Agreement. Nothing in this Section shall be construed to require that any Person obtain the consent of the Indenture Trustee to any amendment or waiver or any provision of any document where the making of such amendment or the giving of such waiver without obtaining the consent of the Indenture Trustee is not prohibited by this Indenture or by the terms of the document that is the subject of the proposed amendment or waiver.

  • Incorporation of the Loan Agreement provisions The provisions of clause 30 (law and jurisdiction) of the Loan Agreement, as amended and supplemented by this Agreement, shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary medications.

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