Trusteed assets definition

Trusteed assets means the assets of an alien insurer and U.S. branch domiciled in this state and maintained in trust pursuant to section 411(4).
Trusteed assets means the assets in a trust account which the Commissioner requires be established and maintained by an alien insurance company.
Trusteed assets means, collectively, all cash and securities as defined in Sections 910 and 912 of the Michigan Insurance Code, being MCL 500.910; MSA 24.1910 and MCL 500.912; MSA 24.1912 at the lower of their cost or market value in accordance with generally accepted accounting procedures and all proceeds, income, earnings, dividends or interest accumulations with respect to such cash and securities held by the Trustee pursuant to the provisions hereof.

Examples of Trusteed assets in a sentence

  • Unless ABC HMO, by Order within 90 days of the date of such notice, authorizes the Trustee to deliver the Trusteed Assets to any other Trustee, the Trustee shall, at the expiration of such 90-day period, deliver the Trusteed Assets at the direction of the Director to the Treasurer of the State of Michigan.

  • All investments and reinvestment of Trusteed Assets shall be made by ABC HMO and the Trustee shall not be responsible for the investment or reinvestment of Trusteed Assets in the Trust.

  • At the time of each deposit of Trusteed Assets, ABC HMO shall provide a certificate signed by an Authorized Officer stating that: (a) such assets are of the value and quality required by this Indenture, and (b) the Trustee has legal title to such assets.

  • Registration in the name of the Trustee or its nominee shall not confer any beneficial interest in any Trusteed Assets in any such person or entity.

  • ABC HMO shall deposit with the Trustee Trusteed Assets so that at all times the total value of such Trusteed Assets shall be at least $$$$$$$$$ and shall make further periodic deposits with the Trustee of Trusteed Assets in an amount agreeable to the Director in order to maintain compliance with MCL 500.3553.

  • The Trustee is appointed as trustee to receive, hold and dispose of the Trusteed Assets constituting the Trust in accordance with the provisions hereof.

  • The Trustee and ABC HMO agree that (1) the Trusteed Assets are not subject to, and neither the Trustee nor ABC HMO will cause or permit the Trustees Assets to become subject to, any right, charge, security interest, lien encumbrance or other claim of any kind, and (2) the legal and beneficial ownership of the Trusteed Assets shall be freely transferable without the payment of money or other value other than for safe custody or administration.


More Definitions of Trusteed assets

Trusteed assets means the assets in a trust account established pursuant to section 38a-58d;
Trusteed assets means the assets in a trust account established pursuant to section 18 of this act;

Related to Trusteed assets

  • Trust Property means as of any particular time any and all property, real or personal, tangible or intangible, which at such time is owned or held by or for the account of the Trust or the Trustees in such capacity.

  • Conveyed Assets shall have the meaning set forth in Section 2.01.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Secured Assets means all of the assets now owned or hereafter acquired by the Credit Parties that are now or hereafter charged or intended to be charged by any of the Security Documents;

  • Operating Equipment means furniture, furnishings, special lighting fixtures, carpeting, draperies, decorations or other special finishing work, signs, appliances and trade fixtures and equipment that is furnished, installed or used by the Contractor in its operations on the Airport. It does not include Fixed Improvements, or repair or maintenance of Operating Equipment or Fixed Improvements or displays or decorations that are of a seasonal or temporary promotional nature.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • Custodial property means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • Light vehicle means a motor vehicle commonly referred to as an automobile, van, sport utility

  • Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including, without limitation, all property and interests Granted to the Indenture Trustee), including all proceeds thereof.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Transportation equipment means 1 or more of the following:

  • Receivables and Related Assets means any account receivable (whether now existing or arising thereafter) of the Company or any Restricted Subsidiary of the Company, and any assets related thereto including all collateral securing such accounts receivable, all contracts and contract rights and all Guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transaction involving accounts receivable.

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Trust business means the business of acting as trustee, executor or administrator;

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Transport vehicle means a motor vehicle or rail car used for the transportation of cargo by any mode. Each cargo-carrying body (trailer, railroad freight car, etc.) is a separate transport vehicle.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Owner Trust Estate means all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

  • Gaming Equipment means any and all gaming devices, gaming device parts inventory and other related gaming equipment and supplies used in connection with the operation of a casino, including (without limitation), slot machines, gaming tables, cards, dice, chips, tokens, player tracking systems, cashless wagering systems, electronic betting systems, mobile gaming systems and associated equipment which are located at the Casino Components, owned or leased by Operating Company or Mortgage Borrower and used or useable exclusively in the present or future operation of slot machines and live games at the Casino Component, together with all improvements and/or additions thereto.

  • Escrowed Property has the meaning set forth in the Escrow Agreement.

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of the Indenture for the benefit of the Noteholders (including all Collateral Granted to the Indenture Trustee), including all proceeds thereof.