Maiden Re definition
Examples of Maiden Re in a sentence
In the event of the fai lure of Maiden Re, All or Technology to perform any of their respective obligations hereunder, such Party, at the request of the Retrocessionaire, shall submit to the jurisdiction of a court of competent j urisdiction wi th in the United States.
The Retrocessionaire shall be subrogated to all rights of Maiden Re against any Person or other entity who may be legally responsible in damages constituting Covered Losses for which the Retrocessionaire shall actually pay, or become liable to pay, on or after the Effective Time {but only to the extent of the amount of payment by the Retrocessionaire).
Subject to the terms and conditions of this Agreement, effective as of the Effective Time, the Retrocessionaire shall pay, on the terms and subject to the conditions and limitations set fo1th in this Agreement, Maiden Re for Ultimate Net Loss in excess of the Retention up to the Aggregate Limit.
The Retrocessionaire shall, in each and every case to which liability under th is A1:,rreement attaches, follow the fortunes and settlements of Maiden Re, and the Retrocessionaire shall be bound, without limitation, by all payments and settlements entered into by or on behalf of Maiden Re, subject to the terms, conditions and provisions set forth herein.
The Company has a trust agreement with Maiden Re whereby the reinsurer deposits funds into the trust to cover outstanding case reserves, unpaid balances and IBNR.
Each of All and Technology shall, and shall cause each Original Cedcnt to, provide to the Retrocessionaire copies of all accounting and other reports due to Maiden Re in accordance with the Ex isting Quota Share Agreement.
In addition, Maiden Reinsurance North America ("Maiden Re") agreed to assume 25% of PIC's December 31, 2017 Maryland unearned premium reserve, and to assume 25% of PIC's Maryland DWP effective January 1, 2018 under a quota share agreement.
Upon recei pt of notice from Maiden Re ofan Administrative Triggering Event, as defined in the ADC Agreement, each of All and Technology shall grant the Rctrocessionairc, its Affiliates and their Representative access and rights to use all onlinc reporting and monitoring systems used by Maiden Re with respect to the Underlying Business and the Commuted Covered Losses.
Maiden Re, All and Technology shall, and An and Technology shall cause the Original Cedents, 10 \ PH .
Following an Administrative Triggering Event, and provided that Maiden Re is not in breach of its obligations under this Agreement or the Master Collateral Agreement (unless such breach has been fully cured), the Retrocessionaire shall consult and cooperate with Maiden Re in good faith regarding the Retrocessionaire's exercise of its rights under this Section 4.1 (c).