Common use of Trust Reporting Clause in Contracts

Trust Reporting. (a) Within ten (10) Business Days after the Reinsurer’s receipt of a Monthly Reinsurance Settlement Report, the Reinsurer shall certify in writing to the Company and the Trustee that all the assets held in the Trust Account as at the end of the applicable month are Eligible Trust Account Assets or, to the extent any such assets are not Eligible Trust Account Assets, the Reinsurer’s intended course of action (and actions already taken, if applicable) with regard to replacing such assets with Eligible Trust Account Assets. (b) Concurrently with the delivery of the above certification, the Reinsurer shall also deliver to the Company a certification by the Reinsurer of: (i) the Required Balance, and if applicable, and the portion of the Required Balance required to be maintained in the Retrocession Trust Account, each as at the end of the month, (ii) the aggregate Book Value of all the assets in the Trust Account and in the Retrocession Trust Account, if applicable, as at the end of the month and (iii) a complete list of the assets in the Trust Account and the Retrocession Trust Account, if applicable, and their respective Book Values as at the end of the month.