Regulation 114 Trust definition

Regulation 114 Trust means a three way investment trust that (i) involves an agreement among a cedent, a financial institution and a non-admitted reinsurer governed by Regulation 114 of the Official Compilation of Codes, Rules and Regulations (11 NYCRR4) of the New York State Insurance Department, (ii) is maintained in the United States in an approved financial institution and (iii) is collateralized only by cash and cash equivalents, U.S. Treasury securities and/or fixed income securities rated “A” or higher.
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Regulation 114 Trust means the trust established on July 11, 2003 by the Grantor for the benefit of XL Reinsurance America, Inc. pursuant to Regulation 114 of the New York Insurance Department.
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Regulation 114 Trust. All of the Investable Assets of the Regulation 114 Trust established pursuant to the Regulation 114 Trust Agreement dated as of July 20, 2012 entered into by and among BAM (the “Beneficiary”), HG Re Ltd (the “Grantor”) and the Bank of New York Mellon (the "Trustee").
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Examples of Regulation 114 Trust in a sentence

  • The Regulation 114 Trust was reviewed and approved by the Department as a condition of its initial licensing of the Company.As of the examination date, the reinsurance agreement was reviewed and found to contain the required clauses, including an insolvency clause meeting the requirements of Section 1308 of the New York Insurance Law.

  • The Company has entered into New York Insurance Department Regulation 114 Trust Agreements with Progressive, Everest and Great American to establish trust accounts which secure the Company’s obligations.

  • Regulation 114 Trust Effective December 1, 2004 the Company established a trust account in accordance with Regulation 114 of the New York Insurance Department for the benefit of XLCA to secure the obligations of the Company to XLCA under the Treaty.

  • Upon the termination of the Regulation 114 Trust Account, the Trustee shall, with the Beneficiary’s prior written consent, such consent not to be unreasonably withheld or delayed, transfer to the Grantor all of the Assets of the Regulation 114 Trust Account not previously withdrawn by the Beneficiary.

  • The Trustee may hold Assets of the Regulation 114 Trust Account in bearer form or in its own name or that of a nominee.

  • The following diversification guidelines shall apply to the Regulation 114 Trust and the Supplemental Trust each on a stand-alone basis and shall be maintained at all times.

  • In consideration for the assignment of the Assigned Interest as set forth herein, the Assignee agrees to contribute to the Regulation 114 Trust, on behalf of the Assignor and upon completion of the offering and sale of the Pass-Through Securities and the issuance and sale of the ABC Securities to the Pass-Through Trust and the Tax Matters Partner, the gross proceeds received by the Assignee from the issuance and sale of the ABC Securities, in immediately available funds.

  • The Grantor shall have the full and unqualified right to vote any shares of stock or other securities in the Regulation 114 Trust Account.

  • The Trustee shall forward all annual and interim stockholder and other financial reports and all proxies and proxy materials relating to the Assets in the Regulation 114 Trust Account to the Grantor within a reasonable period of time following the Trustee’s receipt thereof.

  • From time to time, the Grantor, or the Asset Manager, acting on behalf of Grantor, may instruct the Trustee to invest Assets in the Regulation 114 Trust Account in Eligible Assets.


More Definitions of Regulation 114 Trust

Regulation 114 Trust means the trust established on July 11, 2003 by the Grantor for the benefit of the Ceding Insurer pursuant to Regulation 114 of the New York Insurance Department.
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Regulation 114 Trust. All of the Investable Assets of the Regulation 114 Trust established pursuant to the Regulation Trust Agreement dated as of [ ], 2012 entered into by and among BAM (the “Beneficiary”), HG Re Ltd (the “Grantor”) and [trustee]. “Reinsurance Agreements” – The First Loss Reinsurance Treaty Agreement dated as of July 22, 2012. entered into by and between BAM and HG Re Ltd, and the Individual Credit Excess of Loss Facultative Reinsurance Treaty Agreement, dated as of January 15, 2020 (as they may be amended from time to time). “S&P” – Standard & Poor’s Rating Service. “Supplemental Trust” – All of the Investable Assets of the Supplemental Trust, established pursuant to the Supplemental Trust Agreement Agreement dated as of July 22, 2012 entered into by and among BAM (the “Beneficiary”), HG Re Ltd (the “Grantor”) and [trustee].
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Regulation 114 Trust has the meaning set forth in the Declaration.
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Regulation 114 Trust has the meaning set forth in the Recitals.
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Related to Regulation 114 Trust

  • Regulation A means Regulation A of the Federal Reserve Board as in effect from time to time.

  • Regulation CF means Regulation Crowdfunding promulgated under the Securities Act.

  • Regulation E includes specific rules for all parties involved governing the issuance and use of Debit Cards and the processing of On-line Debit Card Transactions.

  • Regulations D, T, U and X” means, respectively, Regulations D, T, U and X of the Board of Governors of the Federal Reserve System (or any successor), as the same may be modified and supplemented and in effect from time to time.

  • Regulation RR means Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.).

  • Regulation Zone means any of those one or more geographic areas, each consisting of a combination of one or more Control Zone(s) as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, regulation service.

  • Regulations T, U and X” means Regulations T, U and X, respectively, of the Federal Reserve Board, and any successor regulations.

  • Regulation G means Regulation G of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof.

  • EU Securitization Regulation means Regulation (EU) 2017/2402 of the European Parliament and of the Council of December 12, 2017.

  • Federal Book-Entry Regulations means 31 C.F.R. Part 357 et seq. (Department of Treasury).

  • Regulation T, U or X means Regulation T, U or X, respectively, of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof.

  • Regulation Y means Regulation Y of the Board of Governors of the Federal Reserve System, as the same may be in effect from time to time, and any successor regulations.

  • Investment Company Act of 1940 means the Investment Company Act of 1940, as amended, and the rules and regulations thereunder.

  • Qualified United States financial institution means an institution that:

  • Business Trust Act means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq., as it may be amended from time to time, or any successor legislation.

  • AIFM Regulation means Commission Delegated Regulation (EU) No. 231/2013.

  • UK Securitization Regulation means Regulation (EU) 2017/2402 as it forms part of UK domestic law as “retained EU law” by operation of the EUWA and as amended by the Securitisation (Amendment) (EU Exit) Regulations 2019, and as further amended.

  • Staff Governor means an employee of the Academy Trust who may be appointed as a Governor pursuant to Article 50A;

  • These regulations means 9VAC5-10 (General Definitions) through 9VAC5-80 (Permits for Stationary Sources).

  • Market Regulation Department means all Exchange Officials and/or agents of the Exchange that assist the Exchange in the implementation, surveillance and enforcement of the Exchange Rules and other Obligations.

  • Securities Transfer Act means the Securities Transfer Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act.

  • Federal Reserve Act means the Federal Reserve Act, as amended.

  • National Register of Historic Places means the list of districts, sites, buildings, structures and objects significant in American history, architecture, archaeology, engineering and culture, authorized by the National Historic Preservation Act of 1966, as amended, and administered by the U.S. Department of the Interior, National Park Service. The list of Properties on the National Register of Historic Places in Florida is available from the Division.

  • Appropriate Federal Banking Agency means the “appropriate Federal banking agency” with respect to the Corporation as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.

  • Plan Asset Regulations means 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time.

  • Federally Qualified Health Center means a non-administrative medical facility with a fixed permanent location that is identified on the following search engines and offers health services on a sliding scale payment system: http://findahealthcenter.hrsa.gov or http://www.ihs.gov/ or http://www.aachc.org/.