OC Account definition

OC Account means, collectively, all of the subaccounts of the Trust Account other than the Hedge Collateral Accounts.
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Examples of OC Account in a sentence

  • Cedant shall not be permitted to draw upon a Letter of Credit except to the extent that both (i) the Reinsurer fails to pay any amounts due under this Agreement within ten (10) days following its receipt of written notice of non-payment from the Cedant and (ii) the sum of (A) the then-current Fair Market Value of the assets held in the OC Account plus (B) any excess withdrawals from the OC Account in excess of the amount permitted under this Agreement has been reduced to zero (0).

  • The Cedant shall also pay interest on such excess, calculated at the Interest Rate from and including the date of withdrawal to but excluding the date on which such excess is returned to the OC Account.

  • Following the settlement between the parties of the Estimated Recapture Payment, (x) all assets in the Funds Withheld Account shall continue to be retained by the Cedant, and the Funds Withheld Account shall be terminated, (y) all assets in the OC Account shall be released to the Reinsurer, and the OC Account shall be terminated and (z) the Cedant shall return all Letters of Credit to the applicable LOC Provider.

  • Pursuant to the terms of the Trust Agreement, the assets in the OC Account, including the residual interest therein, shall be held in trust by the Trustee for the sole and exclusive benefit of the Cedant as security for the payment of the Reinsurer’s obligations to the Cedant under this Agreement.

  • In accordance with the Trust Agreement attached hereto as Exhibit A, the Reinsurer, as grantor, has established a trust account comprising the OC Account and the Hedge Collateral Accounts (the “Trust Account”) with the Trustee, naming the Cedant as sole beneficiary thereof.

  • The Reinsurer shall deposit (or cause to be deposited) into the OC Account any such payments, disbursements, distributions or proceeds (other than posted collateral) payable in respect of the Reinsurer ▇▇▇▇▇▇.

  • The initial funding of the OC Account shall be effected in accordance with Section 3.04.

Related to OC Account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • AAVS Account means the account to which your Automatic Add Value Service is linked, as defined or specified in the relevant Application Form or such other account as notified to us by the Financial Institution or by the AAVS Account Holder from time to time;

  • Investment Account As defined in Section 3.12(a).

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.