GA Remediation Action definition
GA Remediation Action means any remediation, commutation, synthetic commutation, settlement, release or termination, any amendment or restructuring as a loss mitigation or value preservation effort or transaction, or any other similar loss mitigation or value preservation effort or transaction by AAC or its Affiliates with respect to an obligation of the General Account that either (A) involves the issuance, incurrence or assumption by AAC or any of its Subsidiaries of less than or equal to $10,000,000 in face amount of Surplus Notes, policies or other obligations (measured on an individual or, in the case of related series of transactions, on an aggregate basis) or (B) satisfies the OCI Approval Standard.
GA Remediation Action means any remediation, commutation, synthetic commutation, settlement, release or termination, any amendment or restructuring as a loss mitigation or value preservation effort or transaction, or any other similar loss mitigation or value preservation effort or transaction by the Company or its Affiliates with respect to an obligation of the Company’s general account that either (a) involves the issuance, incurrence or assumption by the Company or any of its Subsidiaries of less than or equal to $10,000,000 in face amount of Surplus Notes, policies or other obligations (measured on an individual or, in the case of related series of transactions, on an aggregate basis) or (b) satisfies the OCI Approval Standard.