Alterra Capital definition

Alterra Capital means Alterra Capital Holdings Limited, a Bermuda exempt company and the surviving company in the Merger.

Alterra Capital means and refer to Alterra Capital Holdings Limited.

Alterra Capital has the meaning set forth in the introductory paragraph.

Examples of Alterra Capital in a sentence

• This form of compensation is designed to establish a closer identification of Participants’ interests with those of Alterra Capital by providing them with a more direct means of participating in Alterra Capital’s growth and earnings which, in turn, will provide an incentive for Participants to remain with and to give greater effort on behalf of Alterra Capital.

• Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an Option to purchase Common Shares under this Plan which permits his or her rights to purchase Common Shares under all such plans of Alterra Capital and its Subsidiaries to accrue at a rate which exceeds Twenty-Five Thousand Dollars (U.S. $25,000) of the Fair Market Value of such Common Shares (determined at the time such Option is granted) for each calendar year in which such Option is outstanding at any time.

• A Participant will become a shareholder with respect to Common Shares that are purchased pursuant to Options granted under the Plan when such Common Shares are transferred to the Participant on the books and records of Alterra Capital.

• All funds received by Alterra Capital in payment for Common Shares purchased under this Plan and held by Alterra Capital at any time may be used for any valid corporate purpose.

• As soon as administratively practicable after the death of a Participant, the amount then credited to the Participant’s ESPP Balance shall be paid in cash to the beneficiary or beneficiaries designated by the Participant on a beneficiary designation form filed with Alterra Capital before such Participant’s death or, in the absence of an effective beneficiary designation, to the executor, administrator or other legal representative of the Participant’s estate.

• All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be delivered by personal delivery, courier services, registered or certified first class mail, return receipt requested or facsimile: If to the Company: Alterra Capital Holdings Limited Xxxxxxx Xxxxx 0 Xxxxx Xxxxxx Xxxxxxxx XX 00 Bermuda If to the Grantee, at the Grantee’s last known address on file with the Company.

• Ownership of Common Shares purchased under the Plan will be entered on the books and records of Alterra Capital as soon as administratively practicable after payment for the Common Shares has been received in full by Alterra Capital.

• Alterra Capital and Alterra Bermuda shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to 0.125% per annum times the Dollar Equivalent of the actual daily amount by which the Aggregate Commitments exceeds the Total Outstanding Amount.

• Permit the Alterra Capital Debt to Total Capitalization Ratio to be greater than 35%.

• Alterra Capital hereby agrees to pay all reasonable out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment.

More Definitions of Alterra Capital

Alterra Capital and collectively with Alterra Bermuda, the “Borrowers”), certain Lenders, and Bank of America, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), are parties to a Credit Agreement, dated as of August 7, 2007 (as amended, modified, restated or supplemented from time to time, the “Credit Agreement”), providing for the availability of certain credit facilities to the Borrowers upon the terms and conditions set forth therein.