Common use of Deposit of Assets to the Trust Account Clause in Contracts

Deposit of Assets to the Trust Account. (a) The Grantor hereby establishes the Trust Account with the Trustee for the sole use and benefit of the Beneficiary, under the terms set forth herein. The Beneficiary is required to deposit into the Trust Account as an initial deposit the assets listed on Schedule I attached hereto, having an aggregate fair market value satisfying the requirements under Sections 4.3 and 4.4 of the Reinsurance Agreement, as jointly confirmed in writing by the Grantor and the Beneficiary to the Trustee. The Trustee shall administer the Trust Account in its name as trustee for the sole benefit of the Beneficiary. The Trust Account shall be subject to withdrawal by the Beneficiary and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Trust Agreement.

Deposit of Assets to the Trust Account. (a) The Grantor hereby establishes the Trust Account with the Trustee for the sole use and benefit of the BeneficiaryBeneficiary and the Direct Insurer, under the terms set forth herein. The Beneficiary is required to deposit into (or the Direct Insurer on behalf of the Beneficiary shall deposit), on behalf of the Grantor as Grantor of the Trust Account as an initial deposit the assets listed on Schedule I [__] attached hereto, having an aggregate fair market value satisfying the requirements under Sections 4.3 and 4.4 of the Reinsurance Agreement, as jointly confirmed in writing by the Grantor and the Beneficiary to the Trustee. The Trustee shall administer the Trust Account in its name as trustee for the sole benefit of the BeneficiaryBeneficiary and the Direct Insurer. The Trust Account shall be subject to withdrawal by the Beneficiary Beneficiary, the Direct Insurer and the Grantor solely as provided herein. The Trustee hereby accepts the Trust Account upon the terms set forth in this Trust Agreement.