Document:

Exhibit

Exhibit 10.6

UNSECURED REVOLVING PROMISSORY NOTE

As of May 1, 2016

1.FOR VALUE RECEIVED, the undersigned companies listed on Attachment A hereto (each, a "Maker" and together, the "Makers"), HEREBY severally and not jointly promise  to pay,  in lawful money of the United States, to ATHENE USA CORPORATION(together with its registered successors and assigns, the "Holder"), on the earlier of May 1, 2021 and the date of demand for such repayment made by Holder to a Maker (such earlier date, the "Final Payment Date"), the "Maximum Principal Amount" (as defined below) or, if less, the aggregated unpaid principal amount of all advances made hereunder (the "Principal Balance") to such Maker, together with interest on the unpaid Principal Balance at the rate or rates provided below until payment in full thereof. This  promissory  note (the "Note") evidences and sets forth repayment terms related to the Principal Balance.

2.The Holder may at any time and from time to time until the Final Payment Date, in its sole discretion following the request of any Maker make advances to or on behalf of such Maker in lawful money of the United States  in an aggregate amount  outstanding at any time to all  Makers  not to exceed
$200,000,000 (such amount as may be in effect at any time, the "Maximum Principal Amount"). In addition, a Maker may at any time and from time to time, without premium or penalty, prepay all or a portion of its Principal Balance, along with all interest accrued and unpaid with respect to the amount of the Principal Balance so prepaid. Until the Final Payment Date, the Makers may borrow, repay and reborrow under this Section 2.

3.Interest shall accrue on the Principal Balance of each Maker from time  to  time outstanding at a rate per annum equal to 1 month LIBOR + 162.5 bps. Each Maker shall  pay such  interest in arrears quarterly on the last day of each March, June, September and December (each, an "Interest Payment Date"), on any day any portion of the Principal Balance is repaid or prepaid and on the Final Payment Date. In addition, such interest rate will increase on a compound  basis by five percent  (5%) per annum from and after the Final Payment Date or any earlier default in a Maker's obligations hereunder, and such increased rate shall remain in effect until the indebtedness of such Maker evidenced hereby is satisfied in full. The obligation of the Makers to pay interest on the Principal balance following the Final Payment Date shall not be construed as an agreement to extend the date that payment is due, nor as a waiver of any other right or remedy available to the Holder. Notwithstanding any provision of this Note to the contrary, the maximum rate of interest to be paid  hereunder shall not exceed  the maximum rate of interest permissible under applicable law. Any amount paid in excess of such rate shall be considered to have been payments in reduction of principal.

4.Interest on the Principal Balance shall be computed on the basis of a 360-day year and the actual days elapsed. In addition to interest on the Principal Balance as aforesaid, each Maker shall also pay (a) upon the request of the Holder in its discretion, all taxes assessed against the Holder on this Note or the debt evidenced hereby in respect such Maker, except for income or other similar taxes on income derived by the Holder from this Note, and (b) all costs, attorneys' and professionals' fees incurred by Holder in respect of such Maker in (i) any action to collect this Note, or (ii) in any controversy relating to this Note.

5.Notwithstanding anything herein to the contrary, if the date on which any payment hereunder is due is a Saturday, Sunday or legal holiday, such payment will not  be delinquent if paid on the first day following such payment date which is not a Saturday, Sunday or legal holiday.

6.Both principal and interest hereunder are payable in lawful money of the United States of America to the depositary bank of the Holder in the United States as designated by the Holder  from time to time for deposit in the depositary account of the Holder, in immediately available funds no later than 2:00 p.m. (New York City time) on the date such payments are due. Each advance made by the Holder to the Makers and all payments made on account of principal hereof, shall be recorded by each Maker in the "Register" referred to below in Section 13 and, prior to any transfer hereof, endorsed on the grid attached hereto which is as part of this Note: provided, however, that the failure to make a notation of any advance under or payment on the grid attached to this Revolving Note or in the Register shall not limit  or otherwise affect the respective obligations of the Makers hereunder.

7.If a Maker shall fail to make payment of principal or interest when due hereunder, the obligations of such Maker evidenced by this Note shall, at the option of the Holder, and without notice or demand by the Holder, be immediately due and payable by such Maker, to the extent of the borrowing of each such Maker, and the Holder may pursue any and all other rights and remedies with respect to such Maker under this Note or any instrument related thereto and at law or in equity.

8.Any delay by Holder to exercise its rights and remedies hereunder, or partial exercise by Holder of such rights and remedies, shall not be construed as a waiver of any other right or remedy available to Holder.

9.This Note may be amended or modified, and any term of this Note may be waived, only by an agreement in writing signed by each Maker and the Holder and prior approval received from the Iowa Insurance Division and the Delaware Department of Insurance.  Whenever  possible each provision of this Note shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Note.

10.This Note may be freely assigned by the Holder, pursuant to the transfer provisions set forth in Section 13 hereof.

11.The Makers and all others who may become liable for the payment of all or any part of this Note severally waive presentment and demand for payment, notice of dishonor, protest and notice of protest and nonpayment.

12.THIS NOTE SHALL BE GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF IOWA.

13.Notwithstanding anything to the contrary contained herein, this Note constitutes a general and unsecured obligation of each Maker, and the respective obligations and indebtedness of the Makers under this Note are several and not joint obligations of each Maker. The Holder's right to payment under this Note shall be senior in right of payment to the shareholders of the applicable Maker and in the event of liquidation of a Maker, full payment from such Maker hereunder shall be made before the holders of common or preferred stock shall become entitled to any distribution of the remaining assets of such Maker.

14.The Makers shall maintain or cause to be maintained a register (the "Register"} on which each Maker enters the name and address of the Holder as the registered owner of this Note, the principal amount thereof and the stated interest thereon; provided, however, that the failure to make a notation of any advance under or payment in the Register shall not limit or otherwise affect the obligation of each Maker  hereunder.   Each  Maker hereby acknowledges  and  makes  this Note a  registered  obligation for

federal income tax purposes.  This Note may be assigned or sold in whole or  in part only by registration of such assignment or sale on the Register or by the surrender of this Note duly endorsed by (or accompanied by a written instrument of assignment or sale duly executed by) the Holder, whereupon one or more new registered notes in the same aggregate principal amount shall be issued to the designated assignee(s) or transferee(s). Upon its receipt of an assignment and acceptance agreement executed by the Holder and an assignee, each Maker shall record the information contained therein in the Register.  Prior to the registration of assignment or sale of this Note, each Maker shall treat the person in whose name this Note is registered as the owner thereof for the purpose of receiving all payments thereon and for all other purposes, notwithstanding notice to the contrary. The Register shall be available for inspection by the Makers and the Holder, at any reasonable time and from time to time upon reasonable prior notice. This Note may not at any time be endorsed to bearer.

15.The address of the Holder for notices received hereunder shall be: Athene USA Corporation, 7700 Mills Civic Parkway, West Des Moines, IA 50266, telephone: (515)-342-3691, Attention:  David Attaway, or such other office as may be notified to the Makers from time to time.

16.The address of each Maker for notices received hereunder shall be: Athene Annuity & Life Assurance Company or Athene Annuity and Life Company or Athene Life Insurance Company or Athene Employee Services, LLC, 7700 Mills Civic Parkway, West Des Moines, IA 50266, telephone: (515)-342-3160, Attention: Erik Askelsen, or such other office as may be notified to the Holder from  time to time.

17.The Holder shall provide notice to the Iowa Insurance Division and the Delaware Department of Insurance upon the termination of this Note.

{Signature Page Follows}

The Makers have executed this Note on the day and year first written above.

MAKERS
ATHENE ANNUITY & LIFE ASSURANCE COMPANY

By: /s/ Erin Kuhl
       Name: Erin Kuhl
       Title: Vice President, Controller 

ATHENE ANNUITY AND LIFE COMPANY

By: /s/ Erik Askelsen
       Name: Erik Askelsen
       Title: SVP, General Counsel & Secretary 

ATHENE LIFE INSURANCE COMPANY

By: /s/ John Golden
       Name: John Golden
       Title: Secretary 

ATHENE EMPLOYEE SERVICES, LLC

By: /s/ Erin Kuhl
       Name: Erin Kuhl
       Title: Vice President, Controller

Accepted bv HOLDER: 
ATHENE USA CORPORATION

By: /s/ David Attaway
David Attaway, SVP, CFO & Treasurer

ATTACHMENT A TO UNSECURED REVOLVING PROMISSORY NOTE

Dated as of May 1, 2016 MAKERS

Athene Annuity & Life Assurance Company 
Athene Annuity and Life Company
Athene Life Insurance Company Athene Employee Services, LLC

ATTACHMENT B TO UNSECURED REVOLVING PROMISSORY NOTE

Dated as of

May 1, 2016

ADVANCES AND PAYMENTS OF PRINCIPAL IN RESPECT OF MAKER [ATHENE ANNUITY & LIFE ASSURANCE COMPANY]

	
					
	DATE
	AMOUNT OF ADVANCE
	AMOUNT OF PRINCIPAL
PAID
	UNPAID PRINCIPAL
BALANCE
	NOTATION MADEBYExhibit

Exhibit 10.8

NET WORTH MAINTENANCE AGREEMENT

This Net Worth Maintenance Agreement (this “Agreement”) is made effective as of the 1st day of October, 2013 (the “Effective Date”), by and between Athene Holding Ltd., an exempt corporation formed under the laws of the country of Bermuda (“Athene Holding”), for the  benefit of Aviva Life and Annuity Company, an Iowa domiciled life insurance company (“ALAC”).

WHEREAS, Athene Holding controls ALAC, as the term “control” is defined in Section 521A.1 of the Iowa Insurance Code; and

WHEREAS, Athene Holding has agreed that, at all times ALAC is under Athene Holding’s control, as that term is so defined in Section 521A.1 of the Iowa Insurance Code, ALAC’s “total adjusted capital” will be maintained at the amount necessary for ALAC to maintain its “total adjusted capital” at a minimum of 200% of “company-action-level risk-based capital” (as those terms are defined in the insurance laws of the State of Iowa as of the Effective Date); and

WHEREAS, Athene Holding and ALAC desire to enter into this Agreement to provide support to ALAC in order to allow it to meet its obligations.

NOW THEREFORE, in consideration of the agreements and covenants herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows:

1.Capital and Surplus. Athene Holding agrees that it shall cause, at all times during the term of this Agreement, ALAC to have and maintain its “total adjusted capital” at a  minimum of 200% of “company-action-level risk-based capital”, as those terms are defined in  the insurance laws of the State of Iowa as of the Effective Date.

2.Dividend Payments Cannot Drop Company-Action-Level Risk-Based Capital Below 200%. Unless approved by the Iowa Insurance Division (the “Division”), ALAC will not pay any dividends if such dividend payment would cause its total adjusted capital to fall below 200% of its company-action-level risk-based capital. The portion (which may be all) of any dividend payment that would be prohibited by the preceding sentence is referred to herein as an “excess payment.” If an excess payment is made, Athene Holding agrees, upon written prior notice to Athene Holding by ALAC of such excess payment, to hold the excess payment in trust until the excess payment is returned to ALAC. Said excess payment shall be returned to ALAC promptly upon written notification and, in any event, within thirty (30) days of written notice to Athene Holding that ALAC’s total adjusted capital is less than 200% of its company-action-level risk-based capital. Athene Holding understands and agrees that certain dividends are subject to the prior written approval of the Division, pursuant to Section 521A.5 of the Iowa Insurance Code.

3.Performance on Demand. Athene Holding agrees to perform its obligations under this Agreement and to pay to the Division upon written demand all costs and expenses (including court costs and attorneys fees) incurred or expended by the Division in connection with the enforcement of this Agreement.

4.Binding Effect. If either party hereto fails to fulfill its obligations to the Division under this Agreement, each party stipulates to the authority of the Division to enforce the provisions of this Agreement in a Polk County, Iowa district court.

5.No Guarantee of Indebtedness. This Agreement is not, and shall not be construed as or deemed to constitute, an evidence of indebtedness or a direct or indirect guaranty by  Athene Holding to any person of the payment of any indebtedness, or of any liability or obligation of any kind or character whatsoever, of ALAC.

6.Re-evaluation of ALAC. Athene Holding acknowledges and agrees that upon any default by Athene Holding under this Agreement, the Division may re-evaluate the financial condition, capitalization, reserve adequacy and prospects of ALAC as if ALAC were not affiliated with Athene Holding in any manner.

7.Term. This Agreement shall take effect as of the Effective Date and remain in effect until terminated by ALAC and Athene Holding in writing with the prior written consent or approval of the Division.

8.Notices. All notices, requests, consents, approvals and statements given in connection with this Agreement shall be in writing and, if properly addressed to the recipient, shall be deemed received (a) when delivered personally to the recipient; (b) when sent by electronic mail or electronic facsimile transmission if sent during business hours on a business day in the place of receipt and otherwise at the opening of business on the next business day in the place of receipt; or (c) two (2) business days after they are put in possession of the courier if sent by reputable express courier service. Notices shall be deemed to be properly addressed to a party if addressed to its address, facsimile number or electronic mail address, as applicable, set forth below.

If to ALAC:

Aviva Life and Annuity Company 7700 Mills Civic Parkway
West Des Moines, IA 50266-3862 Attention: General Counsel Facsimile:    (877) 522-2003
Email:    rich.cohan@avivausa.com If to Athene Holding:
Athene Holding Ltd Chesney House
96 Pitts Bay Road Pembroke HM 08, Bermuda
Attention: Chief Legal Officer Facsimile:  (441) 279-8401
E-mail:    tshanafelt@athene.bm

Any party hereto may change its address, facsimile number or electronic mail address, as applicable, for the purpose of this paragraph by informing the other party of the new address, facsimile number or electronic mail address.

9.Waivers and Amendments. No amendment or waiver of any provision of this Agreement nor consent to any departure by Athene Holding therefrom shall be effective unless the same shall be in writing and signed by the Division and Athene Holding. No failure on the part of the Division to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.

10.No Third Party Beneficiaries.  This Agreement is entered into for the benefit of  the Division on behalf of holders of policies issued by ALAC and may be enforced only by the Division and its successors.

11.Assignment. This Agreement shall not be assigned by either of the parties hereto without the prior written approval of the other party and the Division. This Agreement shall be binding upon Athene Holding, its successors and assigns, and shall inure to the benefit of and be enforceable by the Division and its successors and assigns.

12.Governing Law. This Agreement will be governed by and construed in  accordance with the laws of the State of Iowa, without regard to its conflicts of law doctrine.

13.Counterparts. This Agreement may be executed in multiple counterparts, each of which will be deemed an original, but all of which shall constitute one and the same instrument.

14.Headings. The headings in this Agreement have been inserted for convenience  and do not constitute matter to be construed or interpreted in connection with this Agreement.

15.Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision, which shall be replaced with an enforceable provision close in intent and economic effect to the severed provision.

(Signature page follows.)

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement effective as of the Effective Date.

AVIVA LIFE AND ANNUITY COMPANY

By:      /s/ Brenda J. Cushing
Name: Brenda J. Cushing
Title:   EVP and CFO

ATHENE HOLDING LTD.

By:      /s/ Grant Kvalheim
Name: Grant Kvalheim
Title:   President

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