Re-rating of Novated Policies Sample Clauses

Re-rating of Novated Policies. Subject to compliance with Applicable Law and this Section 6.2, the Administrator shall have the exclusive right, on behalf of the Company, to increase or decrease the premium rates under the Novated Policies from and after the Effective Date without the consent of the Company. The Administrator may not seek or implement, as applicable, a premium rate increase unless such premium rate increase would have been permitted under the terms of Section 3.2(i) of the Travelers Servicing Agreement assuming such Novated Policies continued to be “Reinsured Contracts” as defined under the Travelers Servicing Agreement. Notwithstanding the foregoing, the Administrator may not seek or implement, as applicable, more than one (1) premium rate increase with respect to the Novated Policies in any state in any period of three (3) calendar years. The Administrator shall bear, and shall indemnify the Company for, all costs and liabilities incurred in or arising out of seeking or effecting any premium rate changes at the direction of the Administrator.
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Re-rating of Novated Policies. The Company (i) agrees to promptly seek to increase or decrease the premium rates under the Novated Policies from and after the Inception Date as directed by the Reinsurer and (ii) shall be entitled to increase premium rates without the consent of the Reinsurer. With respect to the Novated Policies, neither the Reinsurer nor the Company may seek or implement, as applicable, a premium rate increase unless such premium rate increase would have been permitted under the terms of Section 3.2(i) of the Travelers Servicing Agreement assuming such Novated Policies continued to be “Reinsured Contracts” as defined under the Travelers Servicing Agreement. Notwithstanding the foregoing, neither the Reinsurer nor the Company may seek or implement, as applicable, more than one (1) premium rate increase with respect to the Novated Policies in any state in any period of three (3) calendar years. Except as required by Section 3.3(i) or by Applicable Law, the Company shall refrain from seeking any decrease in the premium rates under the Novated Policies from and after the Inception Date. The Reinsurer shall bear, and shall indemnify the Company for, all costs and liabilities incurred in or arising out of seeking or effecting any premium rate changes at the direction of the Reinsurer, which, for the avoidance of doubt, are not included in the Expense Allowance.
Sample 1
Re-rating of Novated Policies. The Company (i) agrees to promptly seek to increase or decrease the premium rates under the Novated Policies from and after the Inception Date as requested by the Reinsurer and approved by the Company and (ii) shall be entitled to increase premium rates without the consent of the Reinsurer. In approving or disapproving premium rate increases requested by the Reinsurer, the Company agrees to not unreasonably withhold or delay its approval. Notwithstanding the foregoing, with respect to the Novated Policies, neither the Reinsurer nor the Company may request or implement, as applicable, a premium rate increase unless such premium rate increase would have been permitted under the terms of Section 4.2(i) of the Travelers Servicing Agreement assuming such Novated Policies continued to be “New York Reinsured Contracts” as defined under the Travelers Servicing Agreement. In addition, neither the Reinsurer nor the Company may request or implement, as applicable, more than one (1) premium rate increase with respect to the Novated Policies in any state in any period of three (3) calendar years. Except as required by Section 3.3(i) or by Applicable Law, the Company shall refrain from seeking any decrease in the premium rates under the Novated Policies from and after the Inception Date. The Reinsurer shall bear, and shall indemnify the Company for, all costs and liabilities incurred in or arising out of seeking or effecting any premium rate changes at the direction of the Reinsurer, which, for the avoidance of doubt, are not included in the Expense Allowance.
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Related to Re-rating of Novated Policies

  • Rating of Notes The Depositor shall take all reasonable action necessary to enable each Rating Agency to provide the Notes with the ratings indicated in the Ratings Free Writing Prospectus from the nationally recognized statistical rating organizations named therein.

  • Required Notices to Rating Agency and Subservicer The Company, the Master Servicer or the Trustee, as applicable, shall notify each Rating Agency and the Subservicer at such time as it is otherwise required pursuant to this Agreement to give notice of the occurrence of, any of the events described in clause (a), (b), (c), (d), (g), (h), (i) or (j) below or provide a copy to each Rating Agency at such time as otherwise required to be delivered pursuant to this Agreement of any of the statements described in clauses (e) and (f) below:

  • Debt Rating The Liquidity Provider has a short-term debt ratings of “P-1” from Xxxxx’x and “F1+” from Fitch.

  • Notice to Rating Agencies The Trustee shall use its best efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which it has actual knowledge:

  • Debt Ratings Prompt notice of any change in its Debt Ratings.

  • Rating Agency Downgrade In the event that DBAG’s short-term unsecured and unsubordinated debt rating is reduced below “A-1” by S&P or, if DBAG has both a long-term credit rating and a short-term credit rating from Moody’s, and either its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A2” by Moody’s or its short-term credit rating is withdrawn or reduced below “P-1” by Moody’s (and together with S&P, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement, (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds, to honor, DBAG’s obligations under this Agreement, (iii) post collateral which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes, or (iv) establish any other arrangement which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes. In the event that DBAG’s long-term unsecured and unsubordinated debt rating is reduced below “BBB-” or its short-term unsecured and unsubordinated debt rating is reduced below “A-3” or is withdrawn by S&P or DBAG’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A3” by Moody’s or its short-term credit rating is reduced below “P-2” by Moody’s, then within 10 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement or (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds to honor, DBAG’s obligations under this Agreement. In either case, DBAG shall deliver collateral acceptable to the Swap Rating Agencies until DBAG has made such transfer or obtained a guaranty as set forth in (i) and (ii) above. For purposes of this provision, “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder that the party acting or failing to act must consult with each of the Swap Rating Agencies then providing a rating of the Certificates and any Notes and receive from each of the Swap Rating Agencies a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of the Certificates or any Note.

  • Cooperation with Rating Agencies If the ratings provided with respect to the Publicly Registered Notes by the rating agency or agencies that initially rate the Publicly Registered Notes are conditional upon the furnishing of documents or the taking of any other actions by the Depositor, to furnish such documents and take any such other actions.

  • Special Notices to Rating Agencies (a) The Trustee shall give prompt notice to each Rating Agency of the occurrence of any of the following events of which it has notice:

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Notice to Rating Agencies and the NIMS Insurer The Trustee shall use its best efforts promptly to provide notice to the Rating Agencies and the NIMS Insurer with respect to each of the following of which it has actual knowledge:

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