WITHDRAWN,
(II)
AFTER SUCH WITHDRAWAL AND TRANSFER, THE MARKET VALUE OF THE TRUST
ACCOUNT IS NO LESS THAN 102% OF THE REINSURER'S OBLIGATIONS (LESS THE BALANCE OF
CREDIT AVAILABLE UNDER ANY LETTER(S) OF CREDIT).
8.
IN THE EVENT THAT THE REINSURER SEEKS THE COMPANY'S APPROVAL
HEREUNDER, THE COMPANY SHALL NOT UNREASONABLY OR ARBITRARILY WITHHOLD ITS
APPROVAL.
9.
IN THE EVENT THAT THE COMPANY WITHDRAWS ASSETS FROM THE TRUST
ACCOUNT FOR THE PURPOSES SET FORTH IN PARAGRAPH (6)(I) ABOVE IN EXCESS OF ACTUAL
AMOUNTS REQUIRED TO MEET THE REINSURER'S OBLIGATIONS TO THE COMPANY (LESS THE
BALANCE OF CREDIT AVAILABLE UNDER ANY LETTER(S) OF CREDIT), OR IN EXCESS OF
AMOUNTS DETERMINED TO BE DUE AND UNDER PARAGRAPH (6)(III) ABOVE, THE COMPANY
WILL RETURN SUCH EXCESS TO THE REINSURER.
14
10.
THE COMPANY WILL PREPARE AND FORWARD AT ANNUAL INTERVALS OR MORE
FREQUENTLY AS DETERMINED BY THE COMPANY, BUT NOT MORE FREQUENTLY THAN QUARTERLY
TO THE REINSURER A STATEMENT FOR THE PURPOSES OF THIS ARTICLE, SHOWING THE
REINSURER'S SHARE OF OBLIGATIONS AS SET FORTH ABOVE. IF THE REINSURER'S SHARE
THEREOF EXCEEDS THE THEN EXISTING BALANCE OF THE SECURITY PROVIDED, THE
REINSURER WILL, WITHIN FIFTEEN (15) DAYS OF RECEIPT OF THE COMPANY'S STATEMENT,
BUT NEVER LATER THAN DECEMBER 31 OF ANY YEAR, INCREASE THE AMOUNT OF THE LETTER
OF CREDIT, OR TRUST ACCOUNT TO THE REQUIRED AMOUNT OF THE REINSURER'S SHARE OF
OBLIGATIONS SET FORTH IN THE COMPANY'S STATEMENT, BUT NEVER LATER THAN
DECEMBER 31 OF ANY YEAR. IF THE THEN EXISTING BALANCE OF THE SECURITY PROVIDED
EXCEEDS AN AMOUNT EQUAL TO 100% OF THE REINSURER'S SHARE THEREOF, THE COMPANY
WILL RELEASE THE EXCESS THEREOF TO THE REINSURER UPON THE REINSURER'S WRITTEN
REQUEST.
F.
THE REINSURER WILL TAKE ANY OTHER REASONABLE STEPS THAT MAY BE
REQUIRED FOR THE COMPANY TO TAKE FULL CREDIT ON ITS STATUTORY FINANCIAL
STATEMENTS FOR THE REINSURANCE PROVIDED BY THIS AGREEMENT.
ARTICLE XVII
SERVICE OF SUIT
A.
THIS ARTICLE ONLY APPLIES TO A REINSURER DOMICILED OUTSIDE OF THE
UNITED STATES AND/OR UNAUTHORIZED IN ANY STATE, TERRITORY OR DISTRICT OF THE
UNITED STATES HAVING JURISDICTION OVER THE COMPANY. FURTHERMORE, THIS
ARTICLE WILL NOT BE READ TO CONFLICT WITH OR OVERRIDE THE OBLIGATIONS OF THE
PARTIES TO ARBITRATE THEIR DISPUTES AS PROVIDED FOR IN THE ARTICLE ENTITLED
ARBITRATION. THIS ARTICLE IS INTENDED AS AN AID TO COMPELLING ARBITRATION OR
ENFORCING SUCH ARBITRATION OR ARBITRAL AWARD, NOT AS AN ALTERNATIVE TO THE
ARBITRATION ARTICLE FOR RESOLVING DISPUTES ARISING OUT OF THIS AGREEMENT.
B.
IN THE EVENT OF ANY DISPUTE, THE REINSURER, AT THE REQUEST OF THE
COMPANY, SHALL SUBMIT TO THE JURISDICTION OF A COURT OF COMPETENT JURISDICTION
WITHIN THE UNITED STATES. NOTHING IN THIS ARTICLE CONSTITUTES OR SHOULD BE
UNDERSTOOD TO CONSTITUTE A WAIVER OF ANY OBLIGATION TO ARBITRATE DISPUTES
ARISING FROM THIS AGREEMENT OR THE REINSURER'S RIGHTS TO COMMENCE AN ACTION IN
ANY COURT OF COMPETENT JURISDICTION IN THE UNITED STATES, TO REMOVE AN ACTION TO
A UNITED STATES DISTRICT COURT, OR TO SEEK A TRANSFER OF A CASE TO