Examples of Subject Business in a sentence
The Funds Withheld Account shall serve as collateral for payment of the Reinsurer’s obligations for payment of Covered Losses and all other amounts with respect to the Subject Business due from the Reinsurer to the Cedent under this Agreement.
In the event of the termination of the Administrative Services Agreement in accordance with its terms, the Cedent may delegate any part or all of its rights and obligations to administer the Subject Business to an Affiliate of the Cedent or, with at least ten (10) Business Days’ prior written notice to Reinsurer, to a third party administrator.
The Borrower shall use its commercially reasonable efforts to, and procure that the Account Parties shall, ensure that all relevant Funds at Xxxxx'x of the Account Parties (including Own FAL but excluding Letters of Credit) (collectively, "Subordinated Funds at Xxxxx'x") are applied before any Letter of Credit issued to support the Subject Business of any Account Party is drawn.
Without limiting the foregoing, the Reinsurer shall, or shall cause the Administrator to, deliver to the Cedent an Accounting Report with respect to the liabilities of the Subject Business within ten (10) Business Days after the end of each calendar month during the term of this Agreement.
The Subject Business will be ceded to the Reinsurer net of any and all Inuring Reinsurance Recoverables.