Common use of Rebalancing the Trust Account Clause in Contracts

Rebalancing the Trust Account. Pursuant to the Administrative Services Agreement, within thirty (30) days after the end of each calendar quarter that the Administrative Services Agreement is in effect, Administrator thereunder shall prepare and deliver to Company a Quarterly Report that shall include, among other things, a determination of the Gross Statutory Reserves and the Fair Market Value of the assets in the Trust Account, in each case as of the end of the prior calendar quarter. If the Fair Market Value of assets in the Trust Account as of the statement date of any Quarterly Report is less than 100% of the Gross Statutory Reserves as of such date, Reinsurer shall promptly (but in no event later than 5 Business Days after the Quarterly Report is received), cause additional assets to be deposited into the Trust Account having an aggregate Fair Market Value at least equal to the amount of such deficiency. If, however, the Fair Market Value of the assets in the Trust Account as of the statement date of such Quarterly Report is greater than 102% of the Gross Statutory Reserves as of such date, Company shall withdraw such excess from the Trust Account in accordance with the provisions of Section 8.7(b) and pay such excess to Reinsurer immediately upon withdrawal.

Rebalancing the Trust Account. Pursuant to the Administrative Services Agreement, within thirty (30) days after the end of each calendar quarter that the Administrative Services Agreement is in effect, Administrator thereunder shall prepare and deliver to Company Seller a Quarterly Report that shall include, among other things, a determination of the Gross Statutory Reserves and the Fair Market Value of the assets in the Trust Account, in each case as of the end of the prior calendar quarter. If the Fair Market Value of assets in the Trust Account as of the statement date of any Quarterly Report is less than 100% of the Gross Statutory Reserves as of such date, Reinsurer shall promptly (but in no event later than 5 Business Days after the Quarterly Report is received), cause additional assets to be deposited into the Trust Account having an aggregate Fair Market Value at least equal to the amount of such deficiency. If, however, the Fair Market Value of the assets in the Trust Account as of the statement date of such Quarterly Report is greater than 102% of the Gross Statutory Reserves as of such date, Company Seller shall withdraw such excess from the Trust Account in accordance with the provisions of Section 8.7(b) and pay such excess to Reinsurer immediately upon withdrawal.