Collateral Trust Authorized Investments definition
Collateral Trust Authorized Investments means Authorized Investments that, other than in the case of cash and certificates of deposit, are publicly traded securities and have an NAIC SVO designation of 1 or 2.
Collateral Trust Authorized Investments means (i) cash (United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender) and/or investments of the types specified in paragraphs (1), (2), (3), (8) and (10) of subsection (a) of section 1404 of the New York Insurance Law, that (ii) are issued by an institution that is not the parent, subsidiary or other Affiliate of either the Ceding Company or the Reinsurer, and (iii) other than in the case of cash and certificates of deposit, are publicly traded securities and have an NAIC SVO designation of 1 or 2.
Examples of Collateral Trust Authorized Investments in a sentence
The Reinsurer shall maintain the Collateral Trust Account with Collateral Trust Authorized Investments having an aggregate Fair Market Value no less than the Collateral Trust Required Balance.
If as of the end of any Accounting Period the Fair Market Value of Collateral Trust Authorized Investments exceeds the Collateral Trust Required Balance, the Reinsurer may request the Ceding Company to release an amount up to such excess.
The Collateral Trust Authorized Investments shall be valued according to their current Fair Market Value.