FMV Triggering Event definition

FMV Triggering Event means any of the following occurrences:
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FMV Triggering Event shall have the meaning specified in the Coinsurance Agreement.
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FMV Triggering Event means any of the following occurrences: [***]
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Examples of FMV Triggering Event in a sentence

  • The Parties acknowledge and agree that, upon the occurrence of, and solely for the duration of the continuation of, a FMV Triggering Event or a Reserve Credit Triggering Event, as applicable, certain provisions of this Agreement and the Trust Agreement shall cease to be effective, and other provisions shall automatically be effective, as described herein and in the Trust Agreement.

  • For purposes of this Article V, upon the occurrence of any FMV Triggering Event or Recapture Triggering Event, such FMV Triggering Event or Recapture Triggering Event, as applicable, shall be deemed to be continuing unless (a) such FMV Triggering Event or Recapture Triggering Event, as applicable, has been cured and (b) no other FMV Triggering Event or Recapture Triggering Event, as applicable, has occurred for two consecutive calendar quarter ends following such cure.

  • Provisions of the Trust Agreement that will automatically become modified upon the occurrence of an FMV Triggering Event or a Reserve Credit Triggering Event, as applicable, are specified in the Trust Agreement.

  • The Parties acknowledge and agree that, upon the occurrence of, and for the duration of the continuation of, an FMV Triggering Event or a Reserve Credit Triggering Event, as applicable, certain provisions of this Agreement and the Trust Agreement shall cease to be effective, and other provisions shall automatically be effective, as described herein and in the Trust Agreement.

  • If the Board and the Shareholder or the Shareholder's Estate cannot in good faith agree to the determination of fair market value within thirty (30) days of the Corporation's receipt or delivery of written notice of any FMV Triggering Event, the determination of such fair market value shall be submitted within ten (10) days of the end of such 30-day period to Xxxxxxx Xxxxx & Associates, Inc.

  • The Corporation and/or its Assignee(s) shall ------- purchase the Shareholder's Stock under this ARTICLE TWO at a closing to occur within forty-five (45) days of the Corporation's receipt or delivery of written notice of any FMV Triggering Event; provided, however, that if the determination of fair market value has been submitted to the Primary Investment Firm or the Secondary Investment Firm, the closing date shall be deferred until the fifth (5th) business day after the final determination thereof.

  • Provisions of the Trust Agreement that will automatically become modified upon the occurrence of a FMV Triggering Event or a Reserve Credit Triggering Event, as applicable, are specified in the Trust Agreement.

  • Upon the occurrence of any FMV Triggering Event or Recapture Triggering Event, such FMV Triggering Event or Recapture Triggering Event, as applicable, shall be deemed to be continuing unless (a) such FMV Triggering Event or Recapture Triggering Event, as applicable, has been cured and (b) no other FMV Triggering Event or Recapture Triggering Event, as applicable, has occurred during a period of six (6) months commencing with the date of such cure.

  • The Ceding Company agrees to deliver a cure notice to the Trustee promptly upon becoming aware that a FMV Triggering Event, Recapture Triggering Event or Reserve Credit Triggering Event is no longer continuing in accordance with the terms of this Section 5.09.

  • As soon as reasonably practicable following its receipt of such request, the Reinsurer shall withdraw such amounts from the Trust Account and transfer such amounts to the Ceding Company; provided, however, that if the Reinsurer fails to transfer such amounts within three (3) Business Days following its receipt of such request or, during the continuation of a FMV Triggering Event, the Ceding Company may directly withdraw such amounts from the Trust Account.


More Definitions of FMV Triggering Event

FMV Triggering Event means any of the following occurrences: (a) the Reinsurer’s RBC Ratio as of any calendar quarter-end is below 250% and the Reinsurer has not cured such shortfall as of thirty (30) calendar days after the applicable Capital Reporting Deadline; (b) there has been a failure by the Reinsurer to pay any undisputed amounts due hereunder, or to fund the Trust Account to any undisputed required amount, and such breach has not been cured within thirty (30) calendar days after written notice thereof from the Ceding Company; or (c) an Insolvency Event with respect to the Reinsurer. “Governmental Entity” means any domestic or foreign court or governmental authority or agency or any self-regulatory body. “HIPAA” means the Health Insurance Portability and Accountability Act of 1996, as amended, and its implementing regulations, including, without limitation, the amendments and associated regulations enacted and implemented pursuant to the Health Information Technology for Economic and Clinical Health Act. “Independent Accounting Firm” means PriceWaterhouse Coopers LLP, or if PriceWaterhouse Coopers LLP is unwilling or unable to serve, another accounting firm of national reputation, as mutually agreed by the parties. “Insolvency Event” means, with respect to any Party, such Party: (a) applies for, consents to or becomes the subject of an order with respect to, supervision by any insurance regulatory authority or the appointment of a receiver, rehabilitator, conservator or liquidator of its properties or assets; (b) is adjudicated as bankrupt or insolvent; (c) files or consents to the filing of a petition in bankruptcy, seeks reorganization to avoid insolvency, or an arrangement with creditors or makes formal application for any bankruptcy, dissolution, liquidation or similar law or statute; or (d) has been placed in liquidation, conservation, rehabilitation, supervision, receivership or similar proceedings (whether voluntary or involuntary). “Insolvency Fund Assessments” means assessments and similar charges with respect to the Reinsured Policies in connection with participation by the Ceding Company in any guaranty
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FMV Triggering Event shall have the meaning specified in the Reinsurance Agreement. The term “FMV Triggering Event Certification” shall have the meaning specified in Section 9(a) of this Agreement. The term “Governmental Entity” means any domestic or foreign court or governmental authority or agency or any self-regulatory body. The term “Grantor” shall have the meaning specified in the preamble. The term “Grantor Authorized Officers” shall mean any two of the following officers: the President, Chief Financial Officer, Treasurer, Assistant Treasurer, any Executive Vice President or any Senior Vice President of the Grantor. The term “Grantor Withdrawal Notice” shall have the meaning specified in Section 2(b) of this Agreement. The term “Income” shall have the meaning specified in Section 4 of this Agreement. The term “Income Account” shall have the meaning specified in Section 4 of this Agreement.
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Related to FMV Triggering Event

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Triggering Events means each of the following events:

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Notice-triggering PI means the PI identified in CCC § 1798.29(e) whose 25 unauthorized access may trigger notification requirements under CCC § 1709.29. For purposes of this 26 provision, identity shall include, but not be limited to, name, identifying number, symbol, or other 27 identifying particular assigned to the individual, such as a finger or voice print, a photograph or a 28 biometric identifier. Notice-triggering PI includes PI in electronic, paper or any other medium.

  • Put Event means the occurrence of any of the following:

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Terminating Event means any of the following events:

  • Company Termination Event means any of the following:

  • Change of Control means the occurrence of any of the following:

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.