SEC Contract Filing

Filing Date: 2019-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>2
<FILENAME>wtm10-k2018ex107.htm
<DESCRIPTION>EXHIBIT 10.7
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2019 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s50DF119CDB6C3DD8FFD7069474E9206F"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.7</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECONDAMENDED AND RESTATED SUPPLEMENTAL TRUST AGREEMENT </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Second Amended and Restated Supplemental Trust Agreement, dated as of December 4, 2018 (this &#8220;Supplemental Trust Agreement&#8221;), is entered into by and among </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BUILD AMERICA MUTUAL ASSURANCE COMPANY</font><font style="font-family:inherit;font-size:12pt;">, a corporation organized and existing under the laws of New York (the &#8220;Beneficiary&#8221;), </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">HG RE LTD.</font><font style="font-family:inherit;font-size:12pt;">,</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">an exempted Bermuda limited company (the &#8220;Grantor&#8221;), and </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE BANK OF NEW YORK MELLON</font><font style="font-family:inherit;font-size:12pt;">, a banking corporation organized and existing under the laws of the State of New York (the &#8220;Trustee&#8221;), (the Grantor, the Beneficiary and the Trustee are hereinafter each sometimes referred to individually as a &#8220;Party&#8221; and collectively as the &#8220;Parties&#8221;). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">RECITALS:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, HGR Patton (Luxembourg) S.a r.l, United States of America Branch, Beneficiary and Trustee entered into a certain Supplemental Trust Agreement dated as of July 20, 2012 (the &#8220;Original Agreement&#8221;) ; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the interest of HGR Patton (Luxembourg) S.a r.l., United States of America Branch, as Grantor under the Original Agreement, was assigned to the Grantor; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Grantor Beneficiary and Trustee enterrd into an Amended and Restated Supplemental Trust Agreement dated as of August 14, 2017 amending the Original Agreement in certain respects and restating the Original Agreement in its entirety (the &#8220;Amended Supplemental Trust Agreement&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Grantor and the Beneficiary have entered into that certain First Loss Reinsurance Treaty Agreement, dated as of July 20, 2012 (as it may be amended or restated in accordance with its terms, the "Reinsurance Agreement"); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to the Original Agreement and the Amended Agreement the Grantor has created and maintains a trust account with the Trustee (the &#8220;Supplemental Trust Account&#8221;) for the purposes set forth in the Reinsurance Agreement and herein; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Grantor, the Beneficiary and the Trustee have entered into that certain Regulation 114 Trust Agreement, dated July 20, 2012 (as it may be amended or restated in accordance with its terms, the "Regulation 114 Trust Agreement"), pursuant to which HG Re has established the Regulation 114 Trust Account (as defined therein); and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Trustee has agreed to continue to act as trustee hereunder, and to hold Assets in the Supplemental Trust Account in accordance with the terms and conditions of this Second Amended and Restated Supplemental Trust Agreement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Parties desire to amend and restate the Amended Supplemental Trust Agreement as herein set forth to, among other things acknowledge the contribution and delivery of Surplus Notes (as defined herein) from the Supplemental Trust Account to HGR Fund B, a sub-fund of HGR Portfolio Solutions ICAV (&#8220;HGR Fund B&#8221;) in exchange for the receipt by the </font></div><div><br></div><div><div style="line-height:100%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">NY01/ 7269182.9</font><font style="font-f