ASFC definition
Examples of ASFC in a sentence
ASFC shall also make available to insurance regulatory officials those records which they may request regarding any Participants licensed to do business within the jurisdiction of such official.
This Certificate may be surrendered for cash in redemption, in whole or in part, of the balance shown on the addendum upon notice given by Participant to ASFC by 9:00 a.m. Eastern Standard Time on the day of redemption.
Funds borrowed from the Pool shall be callable by ASFC upon demand.
Subject to the terms and conditions of this Agreement, and relying upon the representations of Participant set forth herein, ASFC agrees to make short-term demand loans to one or more Participants from funds available in the Pool at a taxable money market rate of interest.
This Certificate is callable and the deposited funds evidenced hereby are payable by ASFC upon one day's notice to Participant.
Such funds may be (i) invested by ASFC in short or medium-term investment grade instruments, or (ii) borrowed from the Pool by a Participant.
This guaranty is irrevocable, unconditional and absolute, irrespective of any circumstances which might otherwise constitute a legal or equitable discharge or defense to, or by ASFC, and the failure of ASFC to observe or perform any of the provisions or covenants contained in this Agreement or other instruments relative to this Agreement shall constitute a default under this guaranty and under this Agreement.
In the event that an enforcement action against ASFC shall result in the termination of the Pool, or the Pool shall be terminated for any other reason, the Pool funds shall be distributed to Participants in satisfaction of any deposit obligation under this Agreement including principal and interest.
Irrespective of anything contained herein which could be interpreted to the contrary, no provision of this Agreement or any amendment or supplement hereto shall be deemed to impose any duty or obligation on ASFC to perform any act in the exercise of any right, duty or obligation which under present or future law shall be unlawful, or which shall be beyond the corporate powers, authorization or qualifications of ASFC.
Deposited funds evidenced by this Certificate are guaranteed as to both principal and interest by ASFC.