Catastrophe Bonds definition

Catastrophe Bonds means securities that entitle the holders thereof to receive a fixed principal or similar amount and a specified return on such amount, generally having the following characteristics:
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Catastrophe Bonds means (i) any note, bond or other debt instrument or any swap or other similar agreement which has a catastrophe, weather or other risk feature linked to payments thereunder and (ii) any equity interest in a Person that is not a Subsidiary controlled, directly or indirectly, by Platinum Holdings or any of its Subsidiaries for the sole purpose of investing in Indebtedness of the type described in clause (i), which, in the case of Catastrophe Bonds purchased by Platinum Holdings or any of its Subsidiaries, are purchased in accordance with its customary reinsurance underwriting procedures.
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Catastrophe Bonds means (a) any note, bond or other Debt instrument or agreement which has a catastrophe risk feature linked to payments thereunder and (b) any equity interest in a Person that is not a Subsidiary controlled, directly or indirectly, by the Borrower for the sole purpose of investing in Debt of the type described in clause (a), which, in the case of Catastrophe Bonds purchased by the Borrower or any of its Subsidiaries, are purchased in accordance with its customary reinsurance underwriting procedures."
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Examples of Catastrophe Bonds in a sentence

  • Expenditure incurred on interest in the production of income (1) Subject to the other provisions of this section, where in an income year a person has incurred expenditure on interest in respect of capital employed exclusively in the production of gross income specified in section 10(1)(b),(c), or (d), as the case may be, he shall be allowed, in that income year, a deduction in respect of the interest from the gross income in the production of which the capital was employed.

  • For additional information on this, see CRS Insight IN10887, The National Flood Insurance Program (NFIP), Reinsurance, and Catastrophe Bonds, by Diane P.

  • Catastrophe Bonds and Other Investment Structures Catastrophe bonds are one of the largest and most developed sectors of the ILS market.

  • In normal conditions, the Investment Manager believes Catastrophe Bonds to be the most liquid of the security types and therefore the portfolio holds a larger allocation of them.

  • Recommendations from this review also include that all States investigate the feasibility of other securities-linked protections such as Catastrophe Bonds.

  • MICHEL-KERJAN, AT WAR WITH THE WEATHER: MANAGING LARGE-SCALE RISK IN A NEW ERA OF CATASTROPHES 174-190 (2009) (providing an overview of catastrophe bonds and other risk transfer instruments); see also Bertil Lundqvist, Catastrophe Bonds as a Method of Securitizing Insurance Risk, Practicing Law Institute, PLI Order No. A0-0033, at 804-805 (Dec.

  • For additional information on this, see CRS Insight IN10887, The National Flood Insurance Program (NFIP), Reinsurance, and Catastrophe Bonds, by (name redacted) and (name reda.cted) Private Flood Insurance Outside the NFIP: Issues and BarriersOne of the reasons that Congress created the NFIP in 1968 was the general unavailability of flood insurance from private insurers.

  • For additional information on this, see CRS Insight IN10887, The National Flood Insurance Program (NFIP), Reinsurance, and Catastrophe Bonds, by (name redacted) and (name reda.cted) H.R. 2874, S.

  • Catastrophe Bonds Catastrophe bonds (CAT bonds) are risk-linked securities which allow to transfer insurance risks to investors.

  • The report entitled “Leveraging Catastrophe Bonds as a Mechanism for Resilient Infrastructure Project Finance” was released in December 2015.


More Definitions of Catastrophe Bonds

Catastrophe Bonds means Asset-Backed Securities that entitle the holders thereof to receive a fixed principal or similar amount and a specified return on such amount, generally having the following characteristics: (1) the issuer of such Asset-Backed Security has entered into a swap, insurance contract or similar arrangement with a counterparty pursuant to which such issuer agrees to pay amounts to the counterparty upon the occurrence of certain specified events, including but not limited to: hurricanes, earthquakes and other events; and (2) payments on such Asset-Backed Security depend primarily upon the occurrence and/or severity of such events.
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Catastrophe Bonds is amended in its entirety to read as follows:
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Catastrophe Bonds has the meaning ascribed thereto in Section 3.4(b) hereof.
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Catastrophe Bonds means (a) any note, bond or other Debt instrument or agreement which has a catastrophe risk feature linked to payments thereunder and (b) any equity interest in a Person that is not a Subsidiary controlled, directly or indirectly, by the Borrower for the sole purpose of investing in Debt of the type described in clause (a), which, in the case of Catastrophe Bonds purchased by the Borrower or any of its Subsidiaries, are purchased in accordance with its customary reinsurance underwriting procedures. Change in Control shall be deemed to have occurred if (a) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Guarantor occurs; (b) any
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Related to Catastrophe Bonds

  • Catastrophe means a condition or occurrence that interferes with the ability of a district to comply with the requirements of the PIA, including:

  • Landslide means episodic down slope movement of a mass of soil or rock that includes, but is not limited to, rock falls, slumps, mudflows, and earth flows.

  • War means war, whether declared or not, or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Catastrophic Event : means an unforeseen event of biotic or abiotic nature caused by human action that leads to important disturbances of agricultural production systems and forest structures, eventually causing important economic damage to the farming or forestry sectors;

  • Catastrophic illness or “injury” means an illness or injury that is expected to incapacitate the employee for an extended period of time, or that incapacitates a member of the employee’s family which incapacity requires the employee to take time off from work for an extended period of time to care for that family member, and taking extended time off work creates a financial hardship for the employee because he or she has exhausted all of his or her sick leave and other paid time off.

  • windstorm means straight line winds of at least 80 miles per

  • Sabotage means deliberate damage, with malevolent intent, to a category 1 or category 2 quantity of radioactive material, a device that contains a category 1 or category 2 quantity of radioactive material, or the components of the security system.

  • Storm means violent wind (including cyclones and tornadoes), thunderstorms and hail which may be accompanied by rain or snow.

  • Explosion means the sudden release of energy sufficient to cause pressure waves and/or projectiles that may cause structural and/or physical damage to the surrounding of the tested-device.

  • Catastrophic injury or illness means a life-threatening injury or illness of an employee or a member of an employee's immediate family that totally incapacitates the employee from work, as verified by a licensed physician, and forces the employee to exhaust all leave time earned by that employee, resulting in the loss of compensation from the state for the employee. Conditions that are short-term in nature, including, but not limited to, common illnesses such as influenza and the measles, and common injuries, are not catastrophic. Chronic illnesses or injuries, such as cancer or major surgery, that result in intermittent absences from work and that are long-term in nature and require long recuperation periods may be considered catastrophic.

  • Vandalism means destruction of or damage to a Project Asset deliberately

  • Pandemic means any outbreaks, epidemics or pandemics relating to SARS-CoV-2 or COVID-19, or any evolutions or mutations thereof, and the governmental and other responses thereto.

  • Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.

  • nuclear energy hazard means the radioactive, toxic, explosive, or other hazardous properties of radioactive material;

  • Epidemic means a sudden development and rapid spreading of a contagious disease in a region where it developed in a simply endemic state or within a previously unscathed community.

  • Earthquake insurance, if the Leased Property is currently, or at any time in the future, located within a major earthquake disaster area, in amount, and in such form and substance and with such limits and deductibles as are satisfactory to Landlord; and

  • Hostile environment means a situation in which bullying among students is sufficiently severe or pervasive to alter the conditions of the school climate;

  • Catastrophic illness or injury means one of the following:

  • Energy conservation measure means a training program or facility alteration designed to reduce energy consumption or operating costs and includes:

  • Atomic Energy Act means the Atomic Energy Act of 1954, as amended.

  • Water pollution means the unpermitted release of sediment from disturbed areas, solid waste or waste-derived constituents, or leachate to the waters of the state.

  • Sinkhole means a surface depression caused by a collapse of soil or overlying formation above fractured or cavernous bedrock.

  • Quarantine means the restriction of activities or separation of a person, who was or may potentially have been exposed, to COVID-19 and who could potentially spread the disease to other non-exposed persons, to prevent the possible spread of infection or contamination to healthy individuals;

  • Air pollution means the presence in the outdoor atmosphere of one or more air contaminants in sufficient quantities, and of such characteristics and duration as is, or is likely to be, injurious to human health, plant or animal life, or property, or which unreasonably interferes with enjoyment of life and property. For the purposes of this chapter, air pollution shall not include air contaminants emitted in compliance with chapter 17.21 RCW, the Washington Pesticide Application Act, which regulates the application and control of the use of various pesticides.

  • Revenue bonds means revenue bonds authorized to be issued pursuant to this Act.