Common use of RBC Event Clause in Contracts

RBC Event. Notwithstanding anything to the contrary herein, if the Reinsurer’s RBC Ratio falls below 150% as of a calendar quarter-end and the Reinsurer has not cured such shortfall as of the forty-fifth (45th) calendar day following such calendar quarter-end, then the security provided by the Reinsurer shall be adjusted following the end of each Quarterly Accounting Period thereafter to ensure that the Fair Market Value of Eligible Assets held in the Trust Account at the end of any Quarterly Accounting Period is at least equal to the Required Balance and all references in this Article IV to “Reinsurer Statutory Book Value” shall be deemed references to “Fair Market Value”; provided, however, that if the Reinsurer’s RBC Ratio equals or exceeds 200% as of any subsequent calendar quarter-end, then the security provided by the Reinsurer shall adjust again such that following the end of each Quarterly Accounting Period thereafter, the Reinsurer need only ensure that the Reinsurer Statutory Book Value of Eligible Assets held in the Trust Account at the end of such Quarterly Accounting Period is at least equal to the Required Balance and all references in this Article IV that were deemed references to “Fair Market Value” pursuant to this Section 4.8 shall again refer to “Reinsurer Statutory Book Value”.

RBC Event. Notwithstanding anything to the contrary herein, if the Reinsurer’s 's RBC Ratio falls below 150% as of a calendar quarter-end and the Reinsurer has not cured such shortfall as of the forty-fifth (45th) calendar day following such calendar quarter-end, then the security provided by the Reinsurer shall be adjusted following the end of each Quarterly Accounting Period thereafter to ensure that the Fair Market Value of Eligible Assets held in the Trust Account at the end of any Quarterly Accounting Period is at least equal to the Required Balance and all references in this Article ARTICLE IV to “"Reinsurer Statutory Book Value” " shall be deemed references to “"Fair Market Value”"; providedPROVIDED, howeverHOWEVER, that if the Reinsurer’s 's RBC Ratio equals or exceeds 200% as of any subsequent calendar quarter-end, then the security provided by the Reinsurer shall adjust again such that following the end of each Quarterly Accounting Period thereafter, the Reinsurer need only ensure that the Reinsurer Statutory Book Value of Eligible Assets held in the Trust Account at the end of such Quarterly Accounting Period is at least equal to the Required Balance and all references in this Article ARTICLE IV that were deemed references to “"Fair Market Value” " pursuant to this Section SECTION 4.8 shall again refer to “"Reinsurer Statutory Book Value”".