Common use of Withdrawal of Assets from the Trust Account Clause in Contracts

Withdrawal of Assets from the Trust Account. (a) The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by two (2) duly authorized officers of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal. The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy. Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Reinsurance Agreement (the text of which section is set forth on Exhibit C to this Agreement) and then only in the amount permitted to be withdrawn pursuant to Section 9.8(a). The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.

Withdrawal of Assets from the Trust Account. (a) The Beneficiary shall have the right, at any time and from time to time, to withdraw from the Trust Account, upon notice to the Trustee in the form of a certificate and request for withdrawal substantially in the form of Exhibit A attached hereto (the “Beneficiary Request for Withdrawal”), signed by two (2) a duly authorized officers officer of the Beneficiary, such Assets as are specified in such Beneficiary Request for Withdrawal. The Beneficiary shall simultaneously deliver a copy of such notice to the Grantor; provided, however, that the Trustee shall not be required to confirm delivery of such copy. Such withdrawal by the Beneficiary shall be made only in the circumstances permitted by Section 9.8(a) of the Reinsurance Retrocession Agreement (the text of which section is set forth on Exhibit C D to this Agreement) and then only in the amount permitted to be withdrawn pursuant to such Section 9.8(a). The Beneficiary shall not submit the Beneficiary Request for Withdrawal except as permitted by the immediately preceding sentence. The Beneficiary shall acknowledge in writing receipt of any such Assets withdrawn from the Trust.