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 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.
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 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

Related to Re-rating of Novated Policies

  • Required Notices to Rating Agency and Subservicer The Company, the Master Servicer or the Trustee, as applicable, (i) shall notify each Rating Agency 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, (ii) shall notify 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)(1), (g)(1), or (i) below, or (iii) 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: (a) a material change or amendment to this Agreement, (b) the occurrence of an Event of Default, (1) the termination or appointment of a successor Master Servicer or (2) the termination or appointment of a successor Trustee or a change in the majority ownership of the Trustee, (d) the filing of any claim under the Master Servicer's blanket fidelity bond and the errors and omissions insurance policy required by Section 3.12 or the cancellation or modification of coverage under any such instrument, (e) the statement required to be delivered to the Holders of each Class of Certificates pursuant to Section 4.03, (f) the statements required to be delivered pursuant to Sections 3.18 and 3.19, (1) a change in the location of the Custodial Account or (2) a change in the location of the Certificate Account, (h) the occurrence of any monthly cash flow shortfall to the Holders of any Class of Certificates resulting from the failure by the Master Servicer to make an Advance pursuant to Section 4.04, (i) the occurrence of the Final Distribution Date, and (j) the repurchase of or substitution for any Mortgage Loan, provided, however, that with respect to notice of the occurrence of the events described in clauses (d), (g) or (h) above, the Master Servicer shall provide prompt written notice to each Rating Agency and the Subservicer, if applicable, of any such event known to the Master Servicer.

  • Insurance Carrier Rating Coverages provided by Contractor must be underwritten by an insurance company deemed acceptable to the State of Washington’s Office of Risk Management. Insurance coverage shall be provided by companies authorized to do business within the State of Washington and rated A- Class VII or better in the most recently published edition of Best’s Insurance Rating. Enterprise Services reserves the right to reject all or any insurance carrier(s) with an unacceptable financial rating.

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

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

  • Rating Agency Downgrade In the event that BSFP’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “AA-” by S&P or its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “Aa3” by Moody’s (and together with S&P and Fitch, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, BSFP shall, subject to the Rating Agency Condition, at its own expense, either (i) cause another entity to replace BSFP as party to this Agreement that meets or exceeds the Approved Rating Thresholds and that is approved by Radian Insurance Inc. and Financial Guaranty Insurance Company (each a “NIMS Insurer” and collectively, the “NIMS Insurers”) (which approval shall not be unreasonably withheld) 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, BSFP’s obligations under this Agreement; provided that such other person is approved by the NIMS Insurers, such approval not to be unreasonably withheld, (iii) post collateral satisfactory to each Swap Rating Agency and the NIMS Insurers which will be sufficient to restore the immediately prior ratings of the Certificates and any note insured by the NIMS Insurers, or (iv) establish any other arrangement satisfactory to the Swap Rating Agencies and the NIMS Insurers, which will be sufficient to restore the immediately prior ratings of the Certificates and any note insured by the NIMS Insurers. 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 any of the Swap Rating Agencies then providing a rating of the Certificates and receive from 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.

  • Cooperation with Rating Agencies If the ratings assigned to the Offered Notes by the Rating Agencies are conditional on the delivering of documents or the taking of any other actions by the Depositor, the Depositor will deliver those documents and take those actions.

  • Upload of Current W-9 Required Vendors are required by TIPS to upload a current, accurate W-9 Internal Revenue Service (IRS) Tax Form for your entity. This form will be utilized by TIPS to properly identify your entity. You must confirm that you are responding to this solicitation under your legal entity name. Go now to your Supplier Profile in this eBid System and confirm that your profile reflects your "Legal Name" as it is listed on your W9.

  • 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: (i) any amendment to this Agreement pursuant to Section 10.01(a); (ii) any sale or transfer of the Class B Certificates pursuant to Section 5.02 to an affiliate of the Seller; (iii) any assignment by the Master Servicer of its rights and delegation of its duties pursuant to Section 6.06; (iv) any resignation of the Master Servicer pursuant to Section 6.04; (v) the occurrence of any of the Events of Default described in Section 7.01; (vi) any notice of termination given to the Master Servicer pursuant to Section 7.01; (vii) the appointment of any successor to the Master Servicer pursuant to Section 7.05; or (viii) the making of a final payment pursuant to Section 9.01. (b) The Master Servicer shall give prompt notice to each Rating Agency of the occurrence of any of the following events: (i) the appointment of a Custodian pursuant to Section 2.02; (ii) the resignation or removal of the Trustee pursuant to Section 8.08; (iii) the appointment of a successor trustee pursuant to Section 8.09; or (iv) the sale, transfer or other disposition in a single transaction of 50% or more of the equity interests in the Master Servicer. (c) The Master Servicer shall deliver to each Rating Agency: (i) reports prepared pursuant to Section 3.05; and (ii) statements prepared pursuant to Section 4.04.

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

  • Moody’s Xxxxx’x Investors Service, Inc. and its successors.

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