Common use of S cope Clause in Contracts

S cope. 1. As security for the performance of its obligations under this Contract, each Reinsurer shall establish and fund, within thirty (30) days after the Effective Date, a trust account for the benefit of the Original Insured (each, a "Trust Account"). 2. Each Trust Account shall be subject in all respects to the Policy, this Contract and the I&L Agreement, as well as the base trust agreement entered into by and between the applicable Reinsurer, the trustee and the Original Insured as supplemented from time to time (each, along with the applicable Trust Supplement, a "Trust Agreement"). A copy of each Reinsurer's Trust Agreement is attached to such Reinsurer's I&L Agreement. In the event of a conflict between the four documents with respect to any Trust Account, the I&L Agreement and this Contract as incorporated into the I&L Agreement shall take priority over the related Trust Agreement, and the related Trust Agreement shall take priority over the Policy. 3. Only Eligible Assets shall be deposited into each Trust Account. 4. If the Original Insured does not receive payment from the Company or a Reinsurer for any amount payable to the Original Insured under the Policy when such payment becomes due under the terms of Article V of the Policy, then the Original Insured may withdraw the amount of such payment from the applicable Reinsurer's Trust Account.

S cope. 1. As security for the performance of its obligations under this Contract, each Reinsurer shall establish and fund, within thirty (30) days after the Effective Date, a trust account for the benefit of the Original Insured (each, a "Trust Account"). 2. Each Trust Account shall be subject in all respects to the Policy, this Contract and the I&L Agreement, as well as the base trust agreement entered into by and between the applicable Reinsurer, the trustee and the Original Insured as supplemented from time to time (each, along with the applicable Trust Supplement, a "Trust Agreement"). A copy of each Reinsurer's ’s Trust Agreement is attached to such Reinsurer's I&L Agreement. In the event of a conflict between the four documents with respect to any Trust Account, the I&L Agreement and this Contract as incorporated into the I&L Agreement shall take priority over the related Trust Agreement, and the related Trust Agreement shall take priority over the Policy. 3. Only Eligible Assets shall be deposited into each Trust Account. 4. If the Original Insured does not receive payment from the Company or a Reinsurer for any amount payable to the Original Insured under the Policy when such payment becomes due under the terms of Article V of the Policy, then the Original Insured may withdraw the amount of such payment from the applicable Reinsurer's ’s Trust Account.