Loss Determination Date definition

Loss Determination Date means, in respect of each Loss Event, the date on which the Reinsurer receives a Notice of Loss Payment.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Loss Determination Date means, in respect of a relevant Reference Entity, the date falling one Business Day after the Auction Final Price Determination Date or, as the case may be, after the date on which the Final Price is determined.

Loss Determination Date means, in respect of:

Examples of Loss Determination Date in a sentence

• Each Lender shall on the Subsequent Loss Determination Date pay its portion of the incurred Loss to any Loss Lender only against assignment by the relevant Loss Lender of a corresponding portion of its claim against the Borrower pursuant to paragraph (a) of Clause 7.2 (Indemnities) in respect of an L/G.

• For a Credit Event Reference Obligation, upon the date of the determination of the Final Loss Amount, an amount equal to the product of (i) the Seller Final Amount, (ii) the Adjustment Rate, and (iii) the Day Count Fraction for the period from and including the Initial Loss Determination Date to but excluding the Final Loss Determination Date.

• If one or more Loss Events occur, the Reinsurer shall make a payment to the Cedant in an amount equal to the aggregate of the Loss Payments with respect to each such Loss Event on the earlier of (a) the Payment Date next following each related Loss Determination Date by at least five (5) Business Days, or (b) the Termination Date (each, a “Reinsurer Payment”).

• Each Lender shall on the Subsequent Loss Determination Date pay its portion of the incurred Loss to any Loss Lender only against assignment by the relevant Loss Lender of a corresponding portion of its claim against the Borrower pursuant to paragraph (a) of Clause 7.2 (Indemnities) in respect of an ▇/▇.

• In addition, the Lessor shall make an additional payment on the Loss Determination Date, Burdensome Buyout Date or Early Termination Date, as applicable, in an amount equal to the excess, if any, of the actual accrued interest due on such date on the Notes over the estimated accrued interest amount previously deposited by the Lessor and, to the extent, if any, such deposited amount exceeds the actual accrued interest due on such date, the Indenture Trustee shall refund such excess to the Lessor.

• Provided that a Claim is made on or prior to the Termination Date of the relevant representation and warranty and the arbitration for the Claim is commenced in accordance with this Section 3.4(b), the Checkpoint's Loss or the Tokai's Loss related to such Claim may continue to be claimed beyond the first anniversary of the relevant Termination Date or Loss Determination Date.

• If one or more Events occur, the Reinsurer shall make a payment to the Cedant in an amount equal to the aggregate of the Loss Payments with respect to each such Event on the earlier of (a) the Payment Date next following each related Loss Determination Date by at least five (5) Business Days, or (b) the Termination Date (each, a “Reinsurer Payment”).

• The Agent shall inform the Lenders in due course following each Subsequent Loss Determination Date about any Loss Sharing Payment which shall then be made available by the Recovering Lenders or the Lenders to the Agent for distribution to the Lenders or the Loss Lender, respectively, within three (3) Business Days of such notification.

• If at any time following the First Loss Determination Date a Lender (i) receives payment from any Obligor or any receiver over the assets of such Obligor (a "Recovering Lender") by way of setoff or otherwise in respect of any amounts due from a Borrower under paragraph (a) of Clause 7.2 (Indemnities) in respect of an L/G (the "Recovered Amount") or (ii) incurs any (further) Loss (a "Loss Lender"), then |EU-DOCS\29723125.9|| such Lender shall promptly notify the Agent.

• Buyer and Seller agree that in the event of any modification of the principal amount due under the Note pursuant to Article IX, Buyer and Seller shall execute an amendment to the Note reflecting such modified principal amount within ten (10) Business Days following the Loss Determination Date.

More Definitions of Loss Determination Date

Loss Determination Date means the earlier of either (a) the date on which the sale of a Defaulted Reference Obligation is consummated, or (b) the date on which it is determined in accordance with the Servicing Principles (where applicable and as defined in the Credit Default Swap) that a Defaulted Reference Obligation shall be written-off or that the work-out process in respect of such Defaulted Reference Obligation has been completed.

Loss Determination Date means the date on which the Calculation Agent determines either (i) that the Relevant Lender or applicable Servicer consummates the sale of the relevant Defaulted Reference Obligation, or (ii) in accordance with the Servicing Standards, that (a) such Reference Obligation should be written-off (as reflected in the books and records of the Relevant Lender) or (b) all Recoveries anticipated in respect of such Defaulted Reference Obligation have been received by the Relevant Lender of such Reference Obligation.

Loss Determination Date means (i) any Event Determination Date or (ii) any date on which a Trading Loss or a Trading Gain is determined as a result of an adjustment to the Reference Portfolio in accordance with Schedule 4 or otherwise.