Examples of Existing Trust Agreements in a sentence
AmTrust and the Original Cedents shall have amended the terms of the Existing Trust Agreements and the trusts created under the Existing Quota Share Agreements to create sub-accounts to hold assets allocable to the Subject Business with third-party trustees reasonably acceptable to Enstar and Enstar or its designee shall have been granted investment control over such sub-accounts and all other funds withheld assets, which will be managed pursuant to the Investment Guidelines.
All references to the Trust Agreement in each of the Existing Trust Agreements, any Trust Certificate or in any other document executed or delivered in connection therewith, shall, from the date hereof, be deemed a reference to the relevant Trust Agreement as amended hereby, unless the context requires otherwise.
Prior to the Closing Date, Enstar will seek to cause AmTrust and its Affiliates to amend the Existing Trust Agreements to provide for sub-accounts to hold assets allocable to the Subject Business, including the Retrocessionaire’s quota share thereof, and to amend the terms of the trusts created under the Existing Quota Share Reinsurance Agreement or other agreements to provide for sub-accounts to hold assets allocable to the Subject Business.
Except as expressly amended by this Base Amendment No. 1, the Existing Trust Agreements remain in full force and effect in accordance with each of their terms and are hereby in all respects ratified and confirmed.
The Initial Beneficiary hereby waives any notice period that may be required in the Existing Trust Agreements and certifies to the Trustee that the actions contemplated in this Agreement comply with the terms of the Existing Trust Agreements and that all conditions precedent to such action have been satisfied.
Prior to the Closing Date, the Parties will use their commercially reasonable efforts to cause AmTrust and its Affiliates to amend the Existing Trust Agreements and, as applicable, the Existing Quota Share Reinsurance Agreements, to provide for sub-accounts to hold assets allocable to the Retrocessionaire’s share of losses related to the Subject Business.
Temporary environmental remediation systemsmay remain connected after the expiration date only with written approval of the Sanitary Engineer and shall be required to pay an additional Environmental Remediation Connection Charge.
The Company and the Trustee are entering into this Base Amendment No. 1 for the purpose of (i) amending each of the Existing Trust Agreements and (ii) amending the Base Agreement so that the provisions set forth in Article One hereof will be included in each Subsequent Trust Agreement unless the related Series Supplement provides otherwise.
As set forth in the Master Agreement and in the “Security” section below, on Retrocessionaire’s behalf, at Closing, Maiden Reinsurance would deposit/retain the Reinsurance Premium in sub-accounts created in the trust accounts under the Existing Trust Agreements and the Existing Quota Share Agreements, subject to the substitution of letters of credit as provided below and in the Master Agreement.
The Base Agreement, together with the Series BLS 1998-1 Supplement between the Company and the Trustee dated as of January 30, 1998, constitutes the Trust Agreement that created the Receipts on Corporate Securities Trust, Series BLS 1998-1 (the "Series BLS 1998-1 Trust Agreement" and, together with the Series FDX 1997-1 Trust Agreement, the "Existing Trust Agreements").