Common use of Excess Collateral Clause in Contracts

Excess Collateral. If, on any Business Day that falls on or after the Collateral Commencement Date, the aggregate Margin Value of the Eligible Collateral in the Retrocedent Account exceeds the Required Collateral Amount (as most recently determined pursuant to this Agreement and notified by the Retrocedent to the Retrocessionaire in accordance with Clause 6.2.) (the amount of such excess being the Excess Collateral Amount), the Retrocessionaire shall be entitled to demand redelivery of the Excess Collateral Amount and the Retrocedent shall transfer Eligible Collateral from the Retrocedent Account to the Retrocessionaire Account having an aggregate Margin Value equal to the Excess Collateral Amount.