Security Trust. 18 18. AMENDMENT, WAIVER AND SEVERABILITY............................ 19 19. MISCELLANEOUS................................................. 19 20. ASSIGNMENT.................................................... 20 21. NOTICES....................................................... 20 22.
Security Trust. 4 3. Creation of Master Issuer Security...................................4 4.
Security Trust. 5 3. Creation of Funding 2 Security.........................................5 4.
Security Trust. (a) Each of the Secured Parties has irrevocably appointed the European Collateral Agent to act as its trustee in connection with this Debenture.
Security Trust. On the Closing Date, Reinsurer agrees to deposit an amount not less than, or transfer assets whose market value is not less than, the General Account Reserves reinsured on a coinsurance basis, less Adjustments to General Account Reserves and less the amount of outstanding Policy Loans (to the extent such loans constitute admitted assets under Applicable SAP), to the United of Omaha Trust, pursuant to the terms of that certain United of Omaha Trust Agreement by and among the Company, the Reinsurer and the Trustee, dated as of the Closing Date. In connection with each Reserve Report prepared in accordance with Section 5.3, the Reinsurer will submit a report showing the amount by which the United of Omaha Trust is less than or exceeds the General Account Reserves, less Adjustments to General Account Reserves and less the amount of Policy Loans (to the extent such loans constitute admitted assets under Applicable SAP), held by the Reinsurer.
Security Trust. The Collateral Trustee holds the benefit of this Deed on trust for the Secured Parties on the terms of the Collateral Trust Agreement, this Deed and the other Priority Lien Documents.
Security Trust. (i) Establishment of the Trust Account. Within thirty (30) calendar days of the Company’s delivery to the Reinsurer of an Election Notice requiring that the Reinsurer secure the Reinsured Liabilities ceded by the Company with a Security Trust, the Reinsurer shall execute the Security Trust Agreement and deposit into an account with the Trustee (the “Security Trust”), naming the Company as the sole beneficiary thereof, assets having a market value in an amount no less than the Required Balance, for the purpose of securing the Reinsured Liabilities under Secured Policies. The Security Trust Agreement shall be substantially in the form of Exhibit B hereto.
Security Trust. 3 3. Creation of Master Issuer Security....................................3 4. Acknowledgements and undertakings.....................................6 5. Restrictions on Exercise of Certain Rights............................7 6. Payments out of the Master Issuer Accounts Prior to Acceleration......9 7. Payments out of the Master Issuer Accounts Upon Acceleration.........11 8. Enforcement by the Master Issuer security trustee....................16 9.
Security Trust. 17 3. Creation of Funding 2 Security ........................................................................................................... 18 4. Acknowledgements and undertakings ................................................................................................. 20 5. Restrictions on Exercise of Certain Rights .......................................................................................... 22 6. Payments out of Funding 2 Accounts Prior to Acceleration ............................................................... 23 7. Payments out of Funding 2 Accounts Upon Acceleration................................................................... 26 8. Enforcement by the Funding 2 Security Trustee ................................................................................. 26 9. Enforcement of Funding 2 Security .................................................................................................... 28 10. Receiver ............................................................................................................................................... 30 11.
Security Trust. 21.1 The Security Trustee declares that it holds the Transaction Security and the Security Property on trust for the Secured Party on the terms contained in this deed.
