Document:

exv10w6

Exhibit 10.6

Omni Bio Pharmaceutical, Inc.

Restricted Stock Unit Agreement 

Omni Bio Pharmaceutical, Inc. (the “Company”), pursuant to approval by the Company’s board of
directors (the “Board”) hereby grants an award of restricted stock units (“Units”) to you, the
Participant named below. The terms and conditions of this grant are set forth in this Restricted
Stock Unit Agreement (the “Agreement”), consisting of this cover page and the Terms and Conditions
on the following pages.

Name of Participant:      Charles A. Dinarello

	 	 	 	 	 	 	 	 	 	 	 
	Number of Units:

	 	 	150,000	 	 	Date of Grant: March 1, 2011
		 	 	 

Vesting Schedule:

	 	 	 	 	 
	Vesting Dates	 	Number of Units that Vest	 
	 
	 	 	 	 
	March 1, 2012
	 	 	50,000	 
	March 1, 2013
	 	 	50,000	 
	March 1, 2014
	 	 	50,000	 

By signing below, you agree to all of the terms and conditions contained in this Agreement
which is attached. You acknowledge that you have reviewed this document and that it sets forth the
entire agreement between you and the Company regarding the grant to you of the number of Units
specified in the table above.

	 	 	 	 	 	 	 	 	 
	PARTICIPANT:	 	OMNI BIO PHARMACEUTICAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Name:

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:	 	 
	 	 
	 

	 	 	 	 	 	 

	 	 

 

 

 

Omni Bio Pharmaceutical, Inc.

Restricted Stock Unit Agreement

Terms and Conditions

	1.	 	Grant of Restricted Stock Units. The Company hereby grants to you, subject to the
terms and conditions in this Agreement, a grant of the number of Units specified on the cover
page of this Agreement (the “Grant”), each Unit representing the right to receive one share of
the Company’s common stock (“Common Stock”)). The Units granted to you will be credited to an
account in your name maintained by the Company. This account shall be unfunded and maintained
for book-keeping purposes only.

	2.	 	Restrictions on Units. Neither this Grant nor the Units subject to this Grant may be
sold, assigned, transferred, exchanged or encumbered other than by will or the laws of descent
and distribution. Any attempted transfer in violation of this Section 2 shall be of
no effect and shall result in the forfeiture of all Units. The Units and your rights to the
Units under this Agreement shall be subject to forfeiture as provided in Section 4
until satisfaction of the vesting conditions set forth in Section 3.

	 
	3.	 	Vesting of Units.

(a) If you remain a consultant with the Company and its subsidiaries (a “Consultant”)
continuously from the Date of Grant specified on the cover page of this Agreement, then the
Units will vest in the numbers and on the dates specified in the Vesting Schedule on the
cover page of this Agreement.

(b) Vesting of the Units subject to this Grant shall be accelerated under the circumstances
and to the extent described in Sections 4 and 5 of this Agreement.

	4.	 	Effect of Termination of Consultant of the Company. If you cease to be a Consultant
under the consulting arrangement of the Company (the “Consulting Arrangement”) other than as a
result of your “Disability” or death prior to the Vesting Date(s) specified on the cover page
of this Agreement, you will forfeit all unvested Units. If your Consulting Arrangement ceases
due to your Disability or death, then a pro rata portion of the unvested Units scheduled to
vest on the next scheduled Vesting Date shall immediately vest and the balance of the unvested
Units shall be forfeited. The pro rata portion that vests shall be determined by utilizing a
fraction, the numerator of which is the number of days between the date your Consulting
Arrangement ended and the later of the Date of Grant or the most recent scheduled Vesting Date
prior to the date your Consulting Arrangement ended, and the denominator of which is the
number of days between the next scheduled Vesting Date after your Consulting Arrangement ended
and the later of the Date of Grant or the most recent Vesting Date prior to the date your
employment ended.

For purposes of this Agreement, “Disability” shall mean a Participant’s becoming disabled
within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended
(the “Code”).

 

 

 

	5.	 	Change of Control.

(a) All unvested Units subject to this Grant shall vest in full upon a “Change of Control”
as defined in Section 5(b)(i) or 5(b)(ii)(C) below, or upon the
consummation of a transaction described in clause (A) or clause (B) of Section
5(b)(ii) below.

(b) For purposes of this Agreement, a “Change of Control” shall be deemed to have occurred
if:

(i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) (other than persons who are
stockholders of the Company on that date of this Agreement) becomes a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing more than 50% of the voting power of the then outstanding
securities of the Company; provided that a Change of Control shall not be deemed to occur
as a result of a change of ownership resulting from the death of a stockholder of the
Company and a Change of Control shall not be deemed to occur as a result of a transaction
in which the Company becomes a subsidiary of another corporation and in which the
stockholders of the Company immediately prior to the transaction will beneficially own,
immediately after the transaction, shares entitling such stockholders to more than 50% of
all votes to which all stockholders of the parent corporation would be entitled in the
election of directors (without consideration of the rights of any class of stock to elect
directors by a separate class vote); or

(ii) The stockholders of the Company approve (or, if stockholder approval is not
required, the Board approves) an agreement providing for (A) the merger or consolidation of
the Company with another corporation where the stockholders of the Company immediately
prior to the merger or consolidation will not beneficially own, immediately after the
merger or consolidation, shares entitling such stockholders to more than 50% of all votes
to which all stockholders of the surviving corporation would be entitled in the election of
directors (without consideration of the rights of any class of stock to elect directors by
a separate class vote), (B) the sale or other disposition of all or substantially all of
the assets of the Company, or (C) a liquidation or dissolution of the Company.

Notwithstanding the foregoing, for purposes of any Grant that is subject to the
provisions of Section 409A of the Code and the regulations promulgated thereunder, no
Change of Control shall be deemed to have occurred upon an event described in clauses (i)
or (ii) above that would have the effect of changing the time or form of payment of such
Grant unless such event would also constitute a change in the ownership or effective
control of, or a change in the ownership of a substantial portion of the assets of, the
Company for purposes of Section 409A of the Code.

	6.	 	Settlement of Units. After any Units vest pursuant to Sections 3, 4 or 5,
the Company shall, no later than March 15 of the year following the calendar year in which
such Units vest, cause to be issued to you, or to your designated beneficiary or
estate in the event of your death, one share of Common Stock in payment and settlement of
each vested Unit. Such issuance shall be evidenced by a stock certificate or an
appropriate entry in the stock register maintained by the Company or its duly authorized
transfer agent, shall be subject to the tax withholding provisions of Section 7,
and shall be in complete satisfaction and settlement of such vested Units.

 

 

 

	7.	 	Tax Consequences and Withholding.

(a) As a condition precedent to settlement of the Units, you are required to pay to the
Company (or the subsidiary or affiliate of the Company employing you), in accordance with
Section 7(b) below, the amount of any required domestic or foreign tax withholding
obligation, including any social security or social insurance obligation.

(b) Withholding of Taxes.

(i) Required Withholding. Any Grant under this Agreement shall be subject to
applicable federal (including FICA), state and local tax withholding requirements. The
Company may require that you or any other person receiving or exercising any Grant pay to
the Company the amount of any federal, state or local taxes that the Company is required to
withhold with respect to such Grant, or the Company may deduct from other wages paid by the
Company the amount of any withholding taxes due with respect to such Grant.

(ii) Election to Withhold Shares. If the Board permits, you may elect to satisfy the
Company’s income tax withholding obligation with respect to a Grant by having shares
withheld up to an amount that does not exceed your minimum applicable withholding tax rate
for federal (including FICA), state and local tax liabilities. The election must be in a
form and manner prescribed by the Board and may be subject to the prior approval of the
Board.

	8.	 	No Shareholder Rights. The Units subject to this Grant do not entitle you to any
rights of a stockholder of the Common Stock. You will not have any of the rights of a
shareholder of the Company in connection with the award of Units subject to this Agreement
unless and until Shares are issued to you upon settlement of the Units as provided in
Section 6.

	9.	 	Adjustments for Changes in Capitalization.

(a) The Units subject to this Agreement shall be subject to adjustments for changes in the
Company’s capitalization as provided in Section 9(b) below.

(b) If there is any change in the number or kind of shares of Common Stock of the Company
outstanding (i) by reason of a stock dividend, spin-off, recapitalization, stock split, or
combination or exchange of shares, (ii) by reason of a merger, reorganization or
consolidation in which the Company is the surviving corporation, (iii) by reason of a
reclassification or change in par value, or (iv) by reason of any other extraordinary or
unusual event affecting the outstanding Common Stock as a
class without the Company’s receipt of consideration, or if the value of outstanding shares
of Common Stock is substantially reduced as a result of a spin-off or the Company’s payment
of an extraordinary dividend or distribution, the number of shares of Common Stock covered
this Grant, the kind of shares covered this Grant, and the price per share of the Grant
shall be appropriately adjusted by the Board to reflect any increase or decrease in the
number of, or change in the kind or value of, issued shares of Common Stock to preclude, to
the extent practicable, the enlargement or dilution of rights and benefits under this
Grant; provided, however, that any fractional shares resulting from such adjustment shall
be eliminated. Any adjustments determined by the Board shall be final, binding and
conclusive.

 

 

 

	10.	 	Choice of Law. This Agreement will be interpreted and enforced under the laws of the
state of Colorado (without regard to its conflicts or choice of law principles).

	11.	 	Binding Effect. This Agreement will be binding in all respects on your heirs,
representatives, successors and assigns, and on the successors and assigns of the Company.

	12.	 	Other Agreements. You agree that you will execute such documents as may be necessary
to become a party to any stockholder, voting or similar agreements as the Company may require.
No shares of Common Stock shall be issued or transferred in connection with this Grant unless
and until all legal requirements applicable to the issuance or transfer of such shares have
been complied with to the satisfaction of the Board. Certificates representing shares of
Common Stock issued or transferred under this Grant will be subject to such stop-transfer
orders and other restrictions as may be required by applicable laws, regulations and
interpretations, including any requirement that a legend be placed thereon.

	13.	 	Section 409A of the Code. The award of Units as provided in this Agreement and any
issuance of shares of Common Stock or payment pursuant to this Agreement are intended to be
excepted from Section 409A of the Code under the short-term deferral exception specified in
Treas. Reg. § 1.409A-l(b)(4).

By signing the cover page of this Agreement, you agree to all the terms and conditions described
above.

 

5exv10w1

Exhibit 10.1

	 	 	 	 	 

	1 North Wall Quay

Dublin 1

Ireland

	 	T +353 1 622 2000

F +353 1 622 2222

	 	

	 	 	 	 	 

	 

	 	Niall Tuckey
	 	Citibank Europe plc
	 

	 	Vice President
	 	1 North Wall Quay
	 

	 	ILOC Product
	 	Dublin 1, Ireland

Date 12th August 2011

Aspen Insurance Limited

Maxwell Roberts Building

1 Church Street

Hamilton

HM 11

Bermuda

Attention: Bryan Astwood

Dear Bryan

	1.	 	Committed letter of credit facility
	 
	 	 	Further to recent discussions, Citibank Europe plc (the “Bank”) is pleased to confirm its
committed letter of credit issuance facility (the “Facility”) subject to the terms and
conditions set out in this Letter.
	 
	 	 	The Facility is intended to replace the committed letter of credit facility established
pursuant to a facility letter between Aspen Insurance Limited and Citibank Europe plc dated
29 April 2009 (“the Old Facility”). The Old Facility is hereby terminated with immediate
effect and the parties fully released from all rights, obligations and liabilities arising
therefrom.
	 
	2.	 	Amount
	 
	 	 	The Facility shall be in a maximum aggregate amount of USD 1,050,000,000 (One billion and
fifty million United States Dollars) (the “Aggregate Facility Limit”) comprising two
maturity tranches: Tranche 1 having a sub limit of USD 750,000,000 (seven hundred and fifty
million United States Dollars); and Tranche II having a sub limit of USD 300,000,000 (three
hundred million United States Dollars). Should the Company (as defined below) wish to
reduce the Aggregate Facility Limit or any Tranche sub limit, it may do so upon written
notification to the Bank. The notification (the “Notification”) must (i) specifically
reference this Letter and (ii) clearly state the new facility limit that is to apply (“the
New Limit”). The New Limit will take effect five Business Days following receipt, by the
Bank, of the Notification.
	 
	3.	 	Facility Documents
	 
	 	 	Aspen Insurance Limited (“the Company”) has entered into the following documents in relation
to the Facility (each as amended, varied, supplemented, novated or assigned as the case may
be):

	 	(a)	 	Insurance Letters of Credit — Master Agreement (Form 3/CIFS) dated 15 December
2003 (the “Master Agreement”);
	 
	 	(b)	 	Reinsurance Deposit Agreement (Charge Form — Citibank N.A. as Custodian) dated
15 December 2003 (“Form 12”);

Citibank Europe plc

Directors: Aidan M Brady, Mark Fitzgerald, Jim Farrell, Bo J. Hammerich (Sweden), Brian Hayes, Mary Lambkin, Frank McCabe, William J. Mills (USA),
Terence O’Leary (U.K.), Cecilia Ronan, Patrick Scally, Christopher Teano (U.S.A.), Francesco Vanni d’Archirafi (Italy), Tony Woods.

Registered in Ireland: Registration Number 132781. Registered Office: 1 North Wall Quay, Dublin 1.

Ultimately owned by Citigroup Inc., New York, U.S.A.

Citibank Europe plc is regulated by the Central Bank of Ireland

 

 

			
	 	 	 
	 
	 	

	 	(c)	 	Pledge Agreement dated 17 January 2006 (“the Pledge Agreement”);
	 
	 	(d)	 	Collateral Account Control Agreement dated 17 January 2006 (“the Collateral
Account Control Agreement”);
	 
	 	(e)	 	Corporate Mandate dated 29 April 2009; and
	 
	 	(f)	 	General Communications Indemnity dated 29 April 2009.

	 	 	In the event of any inconsistency between the terms of this letter and the terms of any
Facility Document, the terms of this letter shall prevail.
	 
	4.	 	Conditions precedent
	 
	 	 	The Company shall not request the issue of any Credit until the Bank has received the
documents and other evidence specified below in a form and substance satisfactory to the
Bank (each a “Condition Precedent”):

	 	(a)	 	the enclosed duplicate of this Letter, duly executed on behalf of the Company
before 12 August 2011; and
	 
	 	(b)	 	such other documents and other evidence as the Bank may reasonably require.

	5.	 	Utilisation requests
	 
	5.1	 	Whenever the Company wishes the Bank (which, for purposes of this paragraph 5 shall include
any branch or affiliate of the Bank that issues a Credit pursuant hereto) to issue a Credit
under the Facility, it shall provide a duly completed application form in accordance with the
provisions of the Master Agreement.
	 
	5.2	 	The Bank shall be entitled to examine each request to issue a Credit on a case-by-case basis
and, notwithstanding clause 1(a)(i) of the Master Agreement during the continuance of this
Letter, shall only be entitled to decline any such request without liability where:

	 	(a)	 	such request would cause the Bank to be in breach of any law of any
jurisdiction (including non-exclusively any breach of sanctions imposed by the law of
the United States of America); or
	 
	 	(b)	 	the Credit requested is in a currency other than US dollars, GB pounds
sterling, Canadian dollars or Euros;
	 
	 	(c)	 	the tenor of a Tranche I Credit is longer than 12 months or the tenor of a
Tranche II Credit is longer than 60 months, as applicable; and/or
	 
	 	(d)	 	any deposit(s) as may have been requested by the Bank to be placed in the
accounts established pursuant to the terms of the Form 12 and/or Pledge and Collateral
Account Control Agreements have not been carried out to the Bank’s satisfaction.

	6.	 	Interest
	 
	6.1	 	the Company shall pay interest on the amount drawn by a Beneficiary under a Credit at a rate
per annum of LIBOR plus 1% (plus Reserve Asset Costs, if any) from the date of drawing until
the date of reimbursement by the Company.

 

 

			
	 	 	 
	 
	 	

	6.2	 	Any interest accruing under this paragraph 6 shall be immediately payable by the Company on
demand by the Bank. Overdue interest shall be compounded in accordance with the usual
practice of the Bank in respect of unauthorised overdrafts.
	 
	6.3	 	Interest due from the Company under this Letter shall:

	 	(a)	 	be calculated and accrue from day to day;
	 
	 	(b)	 	be calculated on the basis of the actual number of days elapsed and a 360 day
year (or such other day count convention as is market practice for the relevant
currency); and
	 
	 	(c)	 	be payable both before and after judgment.

	7.	 	Fees
	 
	 	 	The fees that the Company is obliged to pay to the Bank in connection with the
Facility are as set out in the Fee Letter.
	 
	8.	 	Repayment and expiry
	 
	 	 	The Facility shall only apply in respect of Credits issued under Tranche 1 on or
prior to 30 June 2013 (“the Tranche1 Facility Period”), and in the case of Tranche II
on or prior to 30 June 2012 (“the Tranche 2 Facility Period”). Each tranche of the
Facility shall expire on the earlier of (1) the date that is one year from the end of
the relevant Tranche Facility Period; or (2) the stated expiry date on the last
remaining Credit issued within the relevant Tranche Facility Period (“the Expiry
Date”). The Bank and the Company shall commence negotiations, without being under any
obligation, regarding the renewal of the Facility at least 60 days before the end of
the Tranche II Facility Period.
	 
	9.	 	Representations and warranties
	 
	 	 	The Company represents and warrants to the Bank, on the date of its acceptance of
this Letter and with reference to (f)(ii) below only on each day (by reference to the
facts and circumstances then existing) until this Letter has expired or terminated,
that:

	 	(a)	 	the Company (i) is duly organised, validly existing and (to the extent
applicable) in good standing under the laws of its jurisdiction of incorporation or
organisation, (ii) is duly qualified to do business and (to the extent applicable) in
good standing in each jurisdiction where, because of the nature of its activities or
properties, such qualification is required, (iii) has the requisite corporate power and
authority and the right to own and operate its properties, to lease the property it
operates under lease, and to conduct its business as now and proposed to be conducted,
and (iv) has obtained all material licenses, permits, consents or approvals from or by,
and has made all filings with, and given all notices to, all governmental authorities
having jurisdictions, to the extent required for such ownership, operation and conduct
(including, without limitation, the consummation of transactions contemplated by this
Letter) as to each of the foregoing, except, in each case in clauses (ii), (iii) and
(iv), where the failure to do so would not have a material adverse effect on the
financial condition or prospects of the Group.
	 
	 	(b)	 	The execution, delivery and performance by the Company of this Letter and the
consummation of the transactions contemplated hereby are within the Company’s corporate
powers, have been duly authorised by all necessary corporate action, and do not
contravene (i) the Company’s constitutional documents or (ii) law or any contractual
restriction binding on or affecting the Company.

 

 

			
	 	 	 
	 
	 	

	 	(c)	 	No authorisation or approval or other action by, and no notice to or filing
with, any governmental authority or regulatory body or any third party is required for
the due execution, delivery and performance by the Company of this Letter or in respect
of any Credit, except for those authorisations, approvals, actions, notices and filings
that have been duly obtained, taken, given or made and are in full force and effect.
	 
	 	(d)	 	This Letter has been duly executed and delivered by the Company and constitutes
the legal, valid and binding obligation of the Company enforceable against the Company
in accordance with its terms, subject to (i) the effect of any applicable bankruptcy,
insolvency, reorganisation, moratorium or similar law affecting creditors’ rights
generally, (ii) the effect of general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or law).
	 
	 	(e)	 	The consolidated financial statements included in the most recent 10Q filing of
the Group, copies of which have been furnished to the Bank, fairly present the
consolidated financial condition of the Group in accordance with generally accepted
accounting principles consistently applied. Since the date of such filing there has
been no material adverse change to the financial condition or property of the Company
or the Group.
	 
	 	(f)	 	There is no pending or, to the knowledge of the Company, threatened action,
suit, investigation, litigation or proceeding affecting any member of the Group before
any court, governmental agency or arbitrator that (i) could be reasonably likely to
have a material adverse effect on the financial position or prospects of the Group or
(ii) purports to affect the legality, validity or enforceability of this Letter or any
Facility Document or the consummation of the transactions contemplated hereby.

	10.	 	Undertakings
	 
	 	 	The Company undertakes to the Bank that it shall:

	 	(a)	 	ensure that the Bank receives each annual report on Form 10-K filed by Aspen
Insurance Holdings Limited with the SEC as soon as it is available and in any event
within 90 days of its financial year end;
	 
	 	(b)	 	ensure that the Bank receives each quarterly report on Form 10-Q filed by Aspen
Insurance Holdings Limited with the SEC as soon as it is available and in any event
within 45 days of the end of the relevant quarter;
	 
	 	(c)	 	promptly upon it becoming aware of the event, provide the Bank with notice of
any change in the Company’s ownership structure such that its ultimate parent (as at
the date of this Letter) ceases to own, directly or indirectly, a majority of the
equity of the Company or upon any announcement of such a restructuring by the parent.
Any such event shall entitle the Bank, at its sole discretion, to terminate the
Facility.

	11.	 	Costs and expenses
	 
	 	 	The Company undertakes to indemnify the Bank, on demand, for and against all actions,
proceedings, losses, damages, charges, costs, expenses, claims and demands which the Bank
may incur, pay or sustain (apart from the Bank’s own gross negligence or wilful misconduct)
in connection with this Letter (including non-exclusively the cost of all registrations and
any other legal fees that the Bank incurs in relation to the Facility).
	 
	12.	 	Certificates
	 
	 	 	Any demand, notification or certificate issued by the Bank specifying any amount due under
this Letter or any Facility Document or any determination of any ratio shall, in the absence
of manifest error, be conclusive and binding on the Company.

 

 

			
	 	 	 
	 
	 	

	13.	 	Miscellaneous
	 
	13.1	 	The rights of the Bank under this Letter and the Facility Documents may be exercised as often
as necessary; are cumulative and not exclusive of its rights under the general law; and may be
waived only in writing and specifically. Delay in exercising or non-exercise of any such right
is not a waiver of that right.
	 
	13.2	 	If any provision of this Letter or any Facility Document is or becomes illegal, invalid or
unenforceable in any jurisdiction, that shall not affect (i) the legality, validity or
enforceability in that jurisdiction of any other provision of that document; or (ii) the
legality, validity or enforceability in any other jurisdiction of that or any other provision
of that document.
	 
	13.3	 	In no event shall the Bank be liable on any theory of liability for any special, indirect,
consequential or punitive damages and the Company hereby waives, releases and agrees (for
itself and on behalf of the other members of the Group) not to sue upon any such claim for any
such damages, whether or not accrued and whether or not known or suspected to exist in its or
their favour.
	 
	13.4	 	The Bank may set off any obligation of the Company under the Facility Documents or in respect
of any Credit (whether present or future, actual or contingent) against any obligation owed by
the Bank to the Company or Citibank N.A., regardless of the place of payment, booking branch
or currency of either obligation. If the obligations are in different currencies, the Bank
may convert either obligation at a market rate of exchange in its usual course of business for
the purpose of the set-off.
	 
	13.5	 	Clauses 13 and 14 [Assignment/Novation] of the Master Agreement shall apply in respect of
this Letter, with necessary changes.
	 
	13.6	 	The terms of this Letter may not be waived, modified or amended unless such waiver,
modification or amendment is in writing and signed by you nor may the Company assign any of
its rights hereunder without the prior written consent of the Bank.
	 
	14.	 	Definitions and interpretation
	 
	14.1	 	Terms defined in any Facility Document shall have the same meanings when used in this Letter.
Additionally, the following terms have the following meanings.
	 
	 	 	Business Day means a day (other than a Saturday or a Sunday) on which banks are generally
open in Dublin and London.
	 
	 	 	Facility Documents means the documents specified in paragraphs 3(a) through 3(e) and any
other document pursuant to which a security interest, guarantee or other form of credit
support is created or exists in favour of the Bank in respect of the obligations of the
Company under this Letter.
	 
	 	 	Group means the Company and each other person from time to time included in the consolidated
financial statements of Aspen Insurance Holdings Limited filed with the Securities and
Exchange Commission.
	 
	 	 	LIBOR means the overnight rate for US Dollars which appears on the screen display designated
“Reuters Screen LIBOR01” on the Reuters Service (or such other screen display or service as
may replace it for the purpose of displaying the relevant British Bankers’ Association
Interest Settlement Rates for deposits in US Dollars in the London interbank market) at or
about 11.00 a.m. on the relevant day.
	 
	 	 	Quarter Day means 1 January, 1 April, 1 July and 1 October.

 

 

			
	 	 	 
	 
	 	

	14.2	 	In this Letter (unless otherwise provided):

	 	(a)	 	words importing the singular shall include the plural and vice versa;
	 
	 	(b)	 	references to:

	 	(i)	 	paragraphs are to be construed as references to the paragraphs
of this Letter;
	 
	 	(ii)	 	any document shall be construed as references to that document,
as amended, varied, novated or supplemented;
	 
	 	(iii)	 	any statute or statutory provision shall include any statute
or statutory provision which amends, extends, consolidates or replaces the
same;
	 
	 	(iv)	 	any document or person being acceptable or approved or
satisfactory shall be construed as meaning acceptable to or approved by or
satisfactory to the Bank in its sole discretion;
	 
	 	(v)	 	a person shall be construed so as to include that person’s
assignors, transferees or successors in title and shall be construed as
including references to an individual, firm, partnership, joint venture,
company, corporation, body corporate, unincorporated body of persons or any
state or any agency of a state; and
	 
	 	(vi)	 	time are to London time.

	14.3	 	The headings in this Letter are for convenience only and shall be ignored in construing this
Letter.
	 
	15.	 	Communications
	 
	15.1	 	Any notice or demand to be served on the Company by the Bank hereunder may be served:

	 	(a)	 	Personally on any officers listed in the Company’s General Communications
Indemnity dated 29 April 2009 as amended from time to time (such shall be referred to
as “Authorized Officer(s)”);
	 
	 	(b)	 	by letter addressed to the Company or to any of its officers at the Company’s
registered office or at any one of its principal places of business; or
	 
	 	(c)	 	by telex or facsimile addressed in any such manner as aforesaid to any then
published telex or facsimile number of the Company.

	15.2	 	Unless otherwise stated, any notice or demand to be served on the Bank by the Company
hereunder must be served on the Bank either at its address stated at the beginning of this
Letter (or such other address as the Bank may notify the Company of from time to time) or by
facsimile to such number as the Bank may notify the Company of from time to time.
	 
	15.3	 	Any notice or demand:

	 	(a)	 	sent by post shall be deemed to have been served on the relevant party on the
third Business Day after and exclusive of the day of posting; or
	 
	 	(b)	 	sent by telex or facsimile shall be deemed to have been served on the relevant
party when confirmation is received.

 

 

			
	 	 	 
	 
	 	

In proving such service by post it shall be sufficient to show that the letter containing the
notice or demand was properly addressed and posted and such proof of service shall be effective
notwithstanding that the letter was in fact not delivered or was returned undelivered.

	16.	 	Governing law
	 
	16.1	 	This Letter shall be governed by English law and for the benefit of the Bank the Company
irrevocably submits to the jurisdiction of the English Courts in respect of any dispute which
may arise from or in connection with this Letter or any Credit.
	 
	16.2	 	A person who is not a party to this Letter has no rights under the Contracts (Rights of Third
Parties) Act 1999 to enforce any terms of this Letter.
	 
	17.	 	Anti-Tying
	 
	17.1	 	Citigroup’s Corporate and Investment Bank’s anti-tying policies are incorporated herein by
reference.

Yours faithfully,

	 	 	 	 	 
	 	 	 
	 	
/s/ Mary O'Neill
 	 
	 	For and on behalf of Citibank Europe plc 	 
	 	 	 
	 
	 	Accepted and agreed on

 	 
	 	/s/ Bryan Astwood
 	 
	 	For and on behalf of Aspen Insurance Limited 	 
	 	 	 
	 
	 	Accepted and agreed on

 	 
	 	/s/ David Skinner
 	 
	 	For and on behalf of Aspen Insurance Limited

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