Escrow Account. (1) At the Company's request, FCIC will allow the Company to establish an escrow account in the name of FCIC at a bank designated by the Company, and approved by FCIC, to reimburse the Company for payment of indemnities, prevented planting payments or replant payments to policyholders by the Company. The Company's bank shall pledge collateral as required by 31 C.F.R. § 202 in the amount determined by FCIC.
Appears in 19 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement, Reinsurance Agreement
Escrow Account. (1) At the Company's request, FCIC will allow the Company to establish an escrow account in the name of FCIC at a bank designated by the Company, and approved by FCIC, to reimburse the Company for payment of indemnities, prevented planting payments or replant payments to policyholders by the Company. The Company's bank shall must pledge collateral as required by 31 C.F.R. § 202 in the amount determined by FCIC.
Appears in 4 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement, Reinsurance Agreement
Escrow Account. (1) . At the Company's request, FCIC will allow the Company to establish an escrow account in the name of FCIC at a bank designated by the Company, and approved by FCIC, to reimburse the Company for payment of indemnities, prevented planting payments or replant payments to policyholders by the Company. The Company's bank shall must pledge collateral as required by 31 C.F.R. § 202 in the amount determined by FCIC.
Appears in 3 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement, Reinsurance Agreement
Escrow Account. (1) . At the Company's request, FCIC will allow the Company to establish an escrow account in the name of FCIC at a bank designated by the Company, and approved by FCIC, to reimburse the Company for payment of indemnities, prevented planting payments or replant payments losses to policyholders eligible producers by the Company. The Company's bank shall must pledge collateral as required by 31 C.F.R. § 202 in the amount determined by FCIC. The requirements for funding the escrow account and monthly balancing are contained in Manual 13 and the Escrow Agreement.
Appears in 2 contracts
Samples: Standard Reinsurance Agreement, Standard Reinsurance Agreement (Symons International Group Inc)
Escrow Account. (1) At the Company's request, FCIC will allow the Company to establish an escrow account in the name of FCIC at a bank designated by the Company, and approved by FCIC, to reimburse the Company for payment of indemnities, prevented planting payments or replant payments to policyholders by the Company. The Company's bank shall mustshall pledge collateral as required by 31 C.F.R. § 202 in the amount determined by FCIC.
Appears in 1 contract
Samples: Reinsurance Agreement