Reallocation Event definition

Reallocation Event means an event which causes an Unfunded L/C Obligation to cease to exist without becoming a Funded L/C Obligation, including the termination of a Letter of Credit without being drawn upon.

Reallocation Event means any event involving a reallocation of Och-Ziff Operating Group Units pursuant to the respective Och-Ziff Operating Group Agreements.

Reallocation Event means any Acquisition during the Restricted Period of the stock of a Spinoff Party (other than a Disposition or an Issuance) that could reasonably be viewed as increasing the ownership shift with respect to such Spinoff Party for purposes of Section 355(e) of the Code, taking into account any available safe harbors under Treasury Regulations Section 1.355-7 (and the amount of such increase, the “Reallocation Event Reduction”). This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly by the Parties in good faith.

Examples of Reallocation Event in a sentence

• Fund Reallocation Event Following the occurrence of a Fund Reallocation Event (as defined below), the Bank may, in its sole discretion, substitute units, shares or other securities of another mutual fund or investment fund or, for Reference Funds seeking to replicate an index, the relevant reference index to be replicated, if applicable, for the Reference Units as provided below.

• The underlying interest of Deposits linked to Funds will be subject to the adjustments provided hereunder.Fund Reallocation EventFollowing the occurrence of a Fund Reallocation Event (as defined below), the Bank may, in its sole discretion, substitute units, shares or other securities of another mutual fund or investment fund or, for Reference Funds seeking to replicate an index, the relevant reference index to be replicated, if applicable, for the Reference Units as provided below.

• To do this, the Bank will notionally sell or redeem Reference Units and reallocate the notional proceeds to: (i) a notional investment in the index tracked by the Reference Fund; or (ii) a notional subscription of units or shares of one or more mutual funds managed by the Reference Fund manager having similar investment objectives and strategies in order to replace the Reference Fund as a result of the occurrence of a Fund Reallocation Event.

• If a Reallocation Event occurred, Current Exposure(t) is equal to Target Exposure(t-1).

• Fund Reallocation Event Following the occurrence of a Fund Reallocation Event (as defined below), the Federation may, in its sole discretion, substitute units, shares or other securities of another mutual fund or investment fund or, for Reference Funds seeking to replicate an index, the relevant reference index to be replicated, if applicable, for the Reference Units as provided below.

More Definitions of Reallocation Event

Reallocation Event means, on Volatility Observation Date(t),

Reallocation Event means the acceleration of all or part of the Obligations.

Reallocation Event has the meaning set forth in the Stockholders Agreement.

Reallocation Event means upon the declaration of the Calculation Agent of an Extraordinary Event (each a “Reallocation Event”) in respect of a Reference Fund (the “Affected Reference Fund”) the Calculation Agent, shall notionally liquidate all Fund Interest Units in the Reference Fund and use reasonable efforts to identify an alternative fund or basket of funds in substitution for the Affected Reference Fund (the “Successor Reference Fund”) and on the Redemption Payment Date, or as soon as practicable thereafter, the Calculation Agent shall, if a Successor Reference Fund has been identified, notionally invest the Removal Value in such Successor Reference Fund.

Reallocation Event. (a) an Acceleration Event and (b) after the occurrence of an Acceleration Event but before the effective date of any plan of reorganization confirmed in any case relating to the Company under Chapter 11 of the United States Bankruptcy Code, the expiration or cancellation of any undrawn Letter of Credit or any dishonor of any proposed drawing on any Letter of Credit, provided that for purposes of this clause (b), a Reallocation Event shall not be deemed to have occurred until 30 days after the date of expiration or cancellation of such Letter of Credit or until any dispute with respect to any such dishonor has been finally determined in favor of the propriety of such dishonor.

Reallocation Event means, with respect to any Determination Date (a) the Cumulative Net Loss Ratio as of the end of the related Collection Period exceeds 1.0% within the first 6 Collection Periods from the Closing Date, 2.25% within the 7th through 12th Collection Periods from the Closing Date, 3.25% within the 13th through 18th Collection Periods from the Closing Date, and 4.25% at any time after the 18th Collection Period following the Closing Date, or (b) a Servicer Default has occurred and is continuing. If a Reallocation Event occurs solely related to clause (a) above and is subsequently cured and remains below the related trigger levels for three consecutive Collection Periods, a Reallocation Event shall no longer exist.

Reallocation Event means the events specified in Section 5(b)(i) and (ii) of this Schedule that trigger a Releverage or Deleverage, as applicable;