Trust Triggering Events Sample Clauses
Trust Triggering Events. If at any time:
(a) the Reinsurer has an insurance financial strength rating as provided by Standard & Poor’s Corporation of lower than “XXXX” (or, if such agency modifies its rating system, the equivalent rating under the modified system);
(b) the Reinsurer has an insurance financial strength rating as provided by A.M. Best Company of lower than “XX” (or, if such agency modifies its rating system, the equivalent rating under the modified system); or
(c) the Reinsurer’s total adjusted capital falls to a level which is less than XX% of company action level risk based capital, as reported to the insurance department of the Reinsurer’s state of domicile (each of the events described in clauses (a) – (c), a “Trust Triggering Event”); (redacted sensitive information) then the Reinsurer shall as soon as reasonably practicable, but in no event later than 20 Business Days from the date of such Trust Triggering Event, establish a trust account under a trust agreement made substantially in accordance with the provisions set forth in this Article XII and reasonably satisfactory to the Ceding Company (the “Trust Agreement”) and initially deposit Eligible Assets (as defined below) with a Fair Market Value at least equal to 100% of the Reinsured Liabilities determined in accordance with SAP determined at the end of the immediately precedent calendar quarter.
Trust Triggering Events. If at any time:
(a) XXXXXXX;
(b) XXXXXXX;
(c) XXXXXXX; or
(d) XXXXXXX (each of the events described in clauses (a) – (d), a “Trust Triggering Event”); XXXXXXX (the “Trust Agreement”) XXXXXXX.
Trust Triggering Events. If at any time:
(a) the Reinsurer has an insurance financial strength rating as provided by Standard & Poor’s Corporation of lower than “XX” (redacted rating) (or, if such agency modifies its rating system, the equivalent rating under the modified system);
(b) the Reinsurer has an insurance financial strength rating as provided by A.M. Best Company of lower than “XX” (redacted rating) (or, if such agency modifies its rating system, the equivalent rating under the modified system); or
Trust Triggering Events. If at any time:
(a) XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXX;;
(b) XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX; (c) XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXX; or (d) XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX; (each of the events described in clauses (a) – (d), a “Trust Triggering Event”); XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX. XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX XXXXXXX XXXXXX. (redacted commercially sensitive information)