Segregated Asset Portfolio Sample Clauses

A Segregated Asset Portfolio clause establishes that certain assets are held separately from other assets, typically within a distinct portfolio or account. In practice, this means that the assets allocated to the segregated portfolio are not commingled with the general assets of the entity or with other portfolios, and are managed independently for the benefit of specific investors or purposes. This structure is commonly used in investment funds or insurance products to protect the interests of different groups of investors, ensuring that the liabilities and risks associated with one portfolio do not affect the assets of another. The core function of this clause is to provide legal and financial separation, thereby safeguarding assets and limiting cross-liability between different portfolios.
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Segregated Asset Portfolio. The Ceding Company shall establish and maintain a Segregated Asset Portfolio as described herein. The Segregated Asset Portfolio is comprised of those assets supporting the Annuities and will be equal to or greater than the Modified Coinsurance Reserve, as described in Schedule B, Paragraph 2. The assets of the Segregated Asset Portfolio of the Ceding Company shall be placed in the Segregated Custodial Account described in Paragraph 2 below. Subsequent to the Effective Date of this Agreement, Cash Flows, as defined in Schedule D, with respect to the annuities reinsured hereunder will be transferred into the Segregated Asset Portfolio on Monday and Wednesday of each calendar week that does not involve a holiday (or at least twice each calendar week where either Monday or Wednesday are a holiday) and will earn a short-term interest rate, such as rates available on overnight repurchase agreements, institutional money market accounts or commercial paper, from that point until they are invested in longer term investments. The Ceding Company will retain, control and own all assets held in the Segregated Asset Portfolio. The Segregated Asset Portfolio will be managed by AEGON USA Investment Management, Inc. (AUIM) in accordance with the Investment Policy described in Schedule F. Notwithstanding the preceding, in no event may the Ceding Company withdraw assets from the Segregated Custodial Account as defined in Paragraph 2, below, except as may be provided in this Schedule E or as may be provided in the Investment Management Agreement between AUIM and the Ceding Company, without the prior written consent of the Reinsurer.
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Segregated Asset Portfolio. Pursuant to the terms of the Original Reinsurance Agreement, the Ceding Company established and maintained a Segregated Asset Portfolio, as described in Schedule E of the Original Reinsurance Agreement. The Ceding Company shall continue to maintain that Segregated Asset Portfolio pursuant to Schedule E of this Agreement. The Ceding Company agrees that the assets in the Segregated Asset Portfolio may be offset by the Reinsurer against the obligation of the Reinsurer to make payments under this Agreement. The investment income on the assets in the Segregated Asset Portfolio will be credited to the Reinsurer pursuant to Paragraph 5 of this Article. Only those assets set forth under the Investment Policy set forth in Schedule F shall be placed in the Segregated Asset Portfolio. The Ceding Company and the Reinsurer agree that the retention of assets by the Ceding Company shall not, in any way, diminish or dilute the investment risk transferred to the Reinsurer hereunder.
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Segregated Asset Portfolio. The Segregated Asset Portfolio shall consist of one or more accounts established by the Ceding Company for the purpose of segregating reinsurance cash flows ceded but withheld under this Agreement. The Funds Withheld Balance shall be maintained by the Ceding Company in the Segregated Asset Portfolio, which shall pass along all of the credit quality, reinvestment, and disintermediation risk associated with the Annuities to the Reinsurer as required by Iowa Administrative Code 191-17.3. In order to accomplish this purpose, the Segregated Asset Portfolio shall be managed in accordance with the following: a) AEGON USA Investment Management, LLC (“AUIM”) shall act as investment manager for the Segregated Asset Portfolio and shall be responsible for all investment decisions relating to individual asset purchases, sales, trades or other transactions. AUIM may employ the services of subadvisors. In making individual investment decisions, AUIM shall follow the investment guidelines set forth in Schedule F. b) The investment experience of the assets held in the Segregated Asset Portfolio shall be separately determinable from the investment experience of other assets and asset portfolios managed by AUIM on behalf of the Ceding Company or any other client. The investment experience shall include realized and unrealized capital gains and losses, amortization of premium and discount, coupons, dividends, and any other form of investment income recognized for statutory reporting purposes by the Ceding Company. c) All assets held in the Segregated Asset Portfolio shall meet the requirements of the laws of the State of Iowa governing investments by life insurance companies. d) All assets held in the Segregated Asset Portfolio shall be the sole property of the Ceding Company. e) The investment guidelines set forth in Schedule F may be changed only with the written consent of the Reinsurer.
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Segregated Asset Portfolio. 1. The Reinsured shall establish one or more internally segregated asset portfolio(s) on its investment management system (“Segregated Portfolio”) for the benefit of the Reinsurer. The Reinsured shall deposit reinsurance premium payments directly into the Segregated Portfolio. Deposits by the Reinsured of reinsurance premium payments directly into the Segregated Portfolio shall constitute payment by the Reinsured of such premiums to the Reinsurer and shall satisfy the Reinsured’s obligation hereunder to pay such premiums to the Reinsurer. The Segregated Portfolio as of the effective date of this Agreement is listed in Schedule J. 2. The assets in the Segregated Portfolio shall be invested and reinvested pursuant to the Investment Philosophy and Guidelines (“Investment Policy”) set forth in Schedule I. Changes to the Investment Policy shall require the prior written approval of both the Reinsured and the Reinsurer. 3. The assets in the Segregated Portfolio shall be managed to maintain the aggregate statutory admitted value of assets at a level at least equal to the modified coinsurance reserve for the policies reinsured under this Agreement. 4. The Reinsurer may, at its option, by giving written notice to the Reinsured, cause the Reinsured to establish a trust account (“Reinsurance Trust”) for the benefit and security of the Reinsurer. The Reinsurance Trust shall be formed according to the following principles : a. The use of a Segregated Portfolio is beneficial to the Reinsurer. It is less expensive to maintain and provides for an equitable distribution of investment experience between the Reinsurer and the Reinsured. The Reinsurer should use discretion in exercising its option to form a Reinsurance Trust. The Reinsurer should believe that there is a reasonable probability that the Reinsured can not or will not perform the duties or make the payments required by this Agreement. A substantial ratings downgrade, a consistent failure to perform required duties, a consistent failure to make required payments, or a significant change in ownership or management are examples of events that might trigger such a belief. b. The purpose of the Reinsurance Trust shall be to ensure that the Reinsurer is not obligated to make payments to the Reinsured for benefits, commissions and expenses without the benefit of assets and investment income arising from premiums retained and invested by the Reinsured. FUV-011 – May 1, 2007 14 c. The terms of the Reinsurance Trust shall ...
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Related to Segregated Asset Portfolio

  • Segregated Account The Custodian shall, upon receipt of Proper Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or investments, including investments maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government investments in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by 1940 Act Release No. 10666, or any other procedures subsequently required under the 1940 Act relating to the maintenance of segregated accounts by registered investment companies, and (iv) for other purposes, but only, in the case of clause (iv) upon receipt of Proper Instructions specifying (a) the investments to be delivered, (b) setting forth the purpose for which such delivery is to be made, and (c) naming the person or persons to whom delivery of such investments shall be made.

  • Segregated Accounts Upon receipt of Proper Instructions, the Custodian shall establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or Securities, including Securities maintained in a Depository Account: (a) in accordance with the provisions of any agreement among the Trust, the Custodian and a broker-dealer registered under the 1934 Act and a member of FINRA (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund; (b) for purposes of segregating cash or Securities in connection with securities options purchased or written by the Fund or in connection with financial futures contracts (or options thereon) purchased or sold by the Fund; (c) which constitute collateral for loans of Securities made by the Fund; (d) for purposes of compliance by the Fund with requirements under the 1940 Act for the maintenance of segregated accounts by registered investment companies in connection with reverse repurchase agreements and when-issued, delayed delivery and firm commitment transactions; and (e) for other proper corporate purposes, but only upon receipt of Proper Instructions, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes. Each segregated account established under this Article VI shall be established and maintained for the Fund only. All Proper Instructions relating to a segregated account shall specify the Fund.

  • Investment Portfolio All investment securities held by Seller or its Subsidiaries, as reflected in the consolidated balance sheets of Seller included in the Seller Financial Statements, are carried in accordance with GAAP, specifically including but not limited to, FAS 115.

  • Special Purpose Funding Vehicles Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to provide all or any part of any Committed Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Committed Loan, and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Committed Loan, the Granting Lender shall be obligated to make such Committed Loan pursuant to the terms hereof or, if it fails to do so, to make such payment to the Administrative Agent as is required under Section 2.12(b)(ii). Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 3.04), (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Committed Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Committed Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee in the amount of $3,500 (which processing fee may be waived by the Administrative Agent in its sole discretion), assign all or any portion of its right to receive payment with respect to any Committed Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Committed Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC.

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account may be a sub-account of the Distribution Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts: (i) Any amounts withdrawn from a Protected Account or other permitted account; (ii) Any Monthly Advance and any Compensating Interest Payments; (iii) Any Insurance Proceeds, Liquidation Proceeds or Subsequent Recoveries received by or on behalf of the Master Servicer or which were not deposited in a Protected Account or other permitted account; (iv) The repurchase price with respect to any Mortgage Loans repurchased and all proceeds of any Mortgage Loans or property acquired in connection with the optional termination of the trust; (v) Any amounts required to be deposited with respect to losses on investments of deposits in an Account; and (vi) Any other amounts received by or on behalf of the Master Servicer and required to be deposited in the Master Servicer Collection Account pursuant to this Agreement. (b) All amounts deposited to the Master Servicer Collection Account shall be held by the Master Servicer in the name of the Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. The requirements for crediting the Master Servicer Collection Account or the Distribution Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of (i) prepayment or late payment charges or assumption, tax service, statement account or payoff, substitution, satisfaction, release and other like fees and charges and (ii) the items enumerated in Subsections 4.05(a)(i), (ii), (iii), (iv), (vi), (vii), (viii), (ix), (xi) and (xii) with respect to the Securities Administrator, need not be credited by the Master Servicer or the related Servicer to the Distribution Account or the Master Servicer Collection Account, as applicable. In the event that the Master Servicer shall deposit or cause to be deposited to the Distribution Account any amount not required to be credited thereto, the Securities Administrator, upon receipt of a written request therefor signed by a Servicing Officer of the Master Servicer, shall promptly transfer such amount to the Master Servicer from the Distribution Account, any provision herein to the contrary notwithstanding. (c) The amount at any time credited to the Master Servicer Collection Account shall be invested, in the name of the Trustee, or its nominee, for the benefit of the Certificateholders, in Permitted Investments as directed by Master Servicer. All Permitted Investments shall mature or be subject to redemption or withdrawal on or before, and shall be held until, the next succeeding Distribution Account Deposit Date. Any and all investment earnings on amounts on deposit in the Master Servicer Collection Account from time to time shall be for the account of the Master Servicer. The Master Servicer from time to time shall be permitted to withdraw or receive distribution of any and all investment earnings from the Master Servicer Collection Account. The risk of loss of moneys required to be distributed to the Certificateholders resulting from such investments shall be borne by and be the risk of the Master Servicer. The Master Servicer shall deposit the amount of any such loss in the Master Servicer Collection Account within two Business Days of receipt of notification of such loss but not later than the second Business Day prior to the Distribution Date on which the moneys so invested are required to be distributed to the Certificateholders.