Initial Credit Support. On the date of this Agreement, the Debtor is transferring, or causing to be transferred, into the Collateral Accounts Eligible Credit Support having the Value as at the date of this Agreement at least equal to 20/55 of the premia ceded by the Secured Party to the Debtor under the Retrocession Agreement.
Appears in 3 contracts
Sources: Control Agreement (Platinum Underwriters Holdings LTD), Quota Share Retrocession Agreement (Platinum Underwriters Holdings LTD), Security Agreement (Platinum Underwriters Holdings LTD)