Notice of Recapture Sample Clauses

Notice of Recapture. The Ceding Company shall notify the Reinsurer in writing of the reasons for, and the effective date of, the recapture ninety (90) calendar days prior to the effective date of recapture (the “Recapture Notice”); provided, however, that the recapture shall not be deemed to be consummated until the final accounting described in Section 11.4 of this Article XI has been completed and the Reinsurer has paid the Commutation Payment, if any.
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Notice of Recapture. (a) If an Adverse Financial Event has occurred and is continuing, or if the Company fails to receive Reserve Credit for any reason that is not cured by the Cure Deadline, then the Company shall have the right, but not the obligation, until such time as (i) the Adverse Financial Event or failure to receive Reserve Credit is cured or (ii) two hundred and ten (210) days have elapsed since the occurrence of such Adverse Financial Event or failure to receive Reserve Credit and no other Adverse Financial Event is then continuing, to recapture all, but not less than all, of the Reinsurer’s Quota Share of the Business Covered. In addition, if the Reinsurer elects to terminate this Agreement pursuant to Section 7.3, with a notice of the applicable Termination Date, then it is deemed that the Company has recaptured the Reinsurer’s Quota Share of such Reinsured Contracts as of such Termination Date. (b) In order to exercise such right to recapture following an Adverse Financial Event, the Company must provide no less than thirty (30) days’ prior advance written notice to the Reinsurer of its intent to recapture such business, stating the reason for recapture, and designating an effective date of said recapture (the “Recapture Effective Date”), which Recapture Effective Date must be within two hundred and ten (210) days’ of the occurrence of the Adverse Financial Event giving rise to such right to recapture. Notwithstanding the foregoing, in the event an Adverse Financial Event has occurred under subsection (c) of the definition thereof and (i) the Company has not elected to recapture the Reinsured Contracts within two hundred and ten (210) days thereafter, and (ii) the Reinsurer’s RBC Ratio based on its RBC Report delivered pursuant to Section 6.4(d) for any calendar quarter falls below 175% (a “Subsequent RBC Event”), the Company shall then have an additional two hundred and ten (210) days following the day on which the RBC Report giving rise to such Subsequent RBC Event is delivered to exercise its right to recapture as set forth in this Article VIII. If the Recapture Effective Date is not within the applicable 210-day period required by this subclause (b), the Company shall be deemed to have waived its right to recapture with respect to such Adverse Financial Event. For the avoidance of doubt, the Company shall not have the right to exercise its right of recapture hereunder if the cause of such recapture has been cured prior to the date of the notice.
Sample 1
Notice of Recapture. Stoneville may exercise Stoneville Recapture on January 1 or July 1 of any year beginning with July 1, 1997 by providing sixty (60) days' written notice to Continental prior to such exercise date. In the event of a Reported Claim Recapture, such notice shall identify the Reported Claims subject to the Stoneville Recapture and the amount of Reserves allocable thereto to be recaptured. In the event of an IBNR Recapture, the notice shall state the amount of Reserves to be recaptured and include a copy of the Actuary's report analyzing such IBNR Recapture.
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Notice of Recapture. Florida Housing shall provide the Borrower with written notice, in accordance with Section 11.2, of any Recapture Event or of any circumstances which, with the passage of time, would give rise to a Recapture Event, of which, in either event, it shall become aware. Upon the giving of any such notice to the Borrower, Florida Housing shall also provide copies of any such notice(s) to the Lender and, the Tax Credit Investor and the Servicer. The failure of Florida Housing to provide notice as herein required shall not relieve the Borrower of any obligation hereunder or prevent the declaration or occurrence of a Recapture Event, nor shall it serve to relieve the Borrower of any of the consequences thereof.
Sample 1

Related to Notice of Recapture

  • Notice of Recall When Employees are to be recalled by the Employer, they shall be notified by Registered Mail or any other written means the Employer may wish to utilize to their last place of residence known to the Employer, and if they fail to report within fifteen (15) calendar days after the delivery or receipt of such notice, the Employer shall not be under any obligation to re-employ them.

  • Notice of Resignation If an employee desires to terminate her employment, she shall endeavour to forward a letter of resignation to the Employer four (4) weeks prior to the effective date of termination, and in any event, not less than two (2) weeks prior to the effective date of termination, provided however the Employer may accept a shorter period of notice.

  • Termination for Cause with Notice to Cure Requirement Contractor may terminate this contract for the Department’s failure to perform any of its duties under this contract after giving the Department written notice of the failure. The written notice must demand performance of the stated failure within a specified period of time of not less than 30 days. If the demanded performance is not completed within the specified period, the termination is effective at the end of the specified period.

  • CAFA Notice Pursuant to 28 U.S.C. § 1715, not later than ten (10) days after the Agreement is filed with the Court, the Settlement Administrator shall cause to be served upon the Attorneys General of each U.S. State in which Settlement Class members reside, the Attorney General of the United States, and other required government officials, notice of the proposed settlement as required by law, subject to Paragraph 5.1 below.

  • Notice of Rights An employer must provide its employees with written notice of their rights pursuant to the PSLL. Such notice must be in English and the primary language spoken by an employee, provided that DCA has made available a translation into such language. Downloadable notices are available on DCA’s website at xxxx://xxx.xxx.xxx/html/dca/html/law/PaidSickLeave.shtml. Any person or entity that willfully violates these notice requirements is subject to a civil penalty in an amount not to exceed fifty dollars for each employee who was not given appropriate notice.

  • Notice of Completion; Copy of Record Set of Plans Within fifteen (15) days after completion of construction of the Improvements, Tenant shall cause a Notice of Completion to be recorded in the office of the Recorder of the county in which the Building is located in accordance with Section 8182 of the Civil Code of the State of California or any successor statute, and shall furnish a copy thereof to Landlord upon such recordation. If Tenant fails to do so, Landlord may execute and file the same as Tenant’s agent for such purpose, at Tenant’s sole cost and expense. At the conclusion of construction, (i) Tenant shall cause the Architect and Contractor (A) to update the Approved Working Drawings as necessary to reflect all changes made to the Approved Working Drawings during the course of construction, (B) to certify to the best of their knowledge that the “record-set” of as-built drawings are true and correct, which certification shall survive the expiration or termination of this Lease, and (C) to deliver to Landlord two (2) sets of copies of such record set of drawings within ninety (90) days following issuance of a certificate of occupancy for the Premises, and (ii) Tenant shall deliver to Landlord a copy of all warranties, guaranties, and operating manuals and information relating to the improvements, equipment, and systems in the Premises.

  • Notice of Completion The Interconnection Customer shall notify the Transmission Provider and the Interconnected Transmission Owner in writing when it has completed construction of (i) the Customer Facility;

  • Termination Notice If either Party, having become entitled to do so, decides to terminate this Agreement pursuant to the preceding Clause 8.2 (a) (i) or 8.2 (a) (ii), it shall issue Termination Notice setting out: (i) in sufficient detail the underlying Force Majeure Event; (ii) the Termination Date which shall be a date occurring not earlier than 60 (sixty) days from the date of Termination Notice; (iii) the estimated Termination Payment including the details of computation thereof and; (iv) any other relevant information.

  • Notice of Non-Renewal Consultant understands and agrees that there is no representation, implication, or understanding that the City will request that work product provided by Consultant under this agreement be supplemented or continued by Consultant under a new agreement following expiration or termination of this agreement. Consultant waives all rights or claims to notice or hearing respecting any failure by City to continue to request or retain all or any portion of the work product from Consultant following the expiration or termination of this agreement.

  • Notice of Record Date In case: (i) the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than a cash dividend payable out of earned surplus of the Company) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right; (ii) of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation with or merger of the Company into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation; or (iii) of any voluntary dissolution, liquidation or winding-up of the Company; then, and in each such case, the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (ii) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution or winding-up. Such notice shall be mailed at least thirty (30) days prior to the record date therein specified, or if no record date shall have been specified therein, at least thirty (30) days prior to such specified date, provided, however, failure to provide any such notice shall not affect the validity of such transaction.

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