Recapture Triggering Event definition

Recapture Triggering Event means any of the following occurrences:
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Recapture Triggering Event has the meaning set forth in Section 9.1(a).
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Recapture Triggering Event has the meaning set forth in the Reinsurance Agreement.
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Examples of Recapture Triggering Event in a sentence

  • In such event, such failure to pay shall be treated by the Parties as a Recapture Triggering Event and the applicable Party shall tender to the other Party an amount equal to the Recapture Terminal Settlement in accordance with the procedures for terminal accounting set forth in Section 8.4, the applicable Recapture Date being the date of such notice of termination.


More Definitions of Recapture Triggering Event

Recapture Triggering Event has the meaning assigned to such term in Article V, Section 1.
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Recapture Triggering Event means any of the following occurrences: (a) the Reinsurer has become insolvent or has been placed into liquidation, rehabilitation, conservation, supervision, receivership or similar proceedings (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or assume control of its operations; (b) the Reinsurer ceases to maintain any of (i) a Standard & Poor's Corporation's (or its successor's) insurer financial strength rating of at least BBB+, (ii) a Xxxxx'x Investors Services, Inc.'s (or its successor's) insurer financial strength rating of at least Baa1, or (iii) an A.M. Best Company, Inc.'s (or its successor's) claims paying rating of at least B++; (c) the Reinsurer's Total Adjusted Capital falls below one-hundred fifty percent (150%) of Company Action Level RBC as of a quarter-end and has not been cured as of the forty-fifth (45th) calendar day following such quarter-end; provided that in the event following the Effective Date there is a material change in the factors and formula prescribed by the National Association of Insurance Commissioners with respect thereto, the Parties will amend this Agreement to incorporate an alternate calculation that is reasonably equivalent to the Company Action Level RBC in effect as of the Effective Time within 30 days after the implementation of such change, and if the Parties cannot agree on any such alternative, the Reinsurer shall continue to calculate its Company Action Level RBC as if such material change had not occurred; (d) there has been a material breach of this Agreement or any Transaction Agreement by the Reinsurer, including failure to fund the Trust Account as required, and such breach has not been cured within thirty (30) calendar days after notice; (e) the Ceding Company is unable to receive Reserve Credit within thirty (30) calendar days of Reinsurer's receipt of written notice from the Ceding Company as to the inability to receive Reserve Credit; (f) the Ceding Company and Reinsurer have not entered into the Purchase Agreement on or prior to June 15, 2012; or (g) the Purchase Agreement terminates pursuant to its terms.
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Recapture Triggering Event means any of the following occurrences: 1007933761v22
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Recapture Triggering Event means any of the following has occurred and is continuing: (a) the Reinsurer’s RBC Ratio as of any calendar quarter-end is below 175% 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 material undisputed amounts due to the Ceding Company hereunder, or to fund the Trust Account to any material undisputed required amount, and such failure has not been cured within thirty (30) calendar days after written notice thereof from the Ceding Company; (c) a Reserve Credit Event has occurred and the Reinsurer has not remedied such event in accordance with the timelines in Article VI; or (d) an Insolvency Event with respect to the Reinsurer. “Recoveries” has the meaning set forth in Section 3.2(a). “Regulatory Action” has the meaning set forth in Section 5.1(a).
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Recapture Triggering Event means any of the following has occurred and is continuing: (a) the Reinsurer’s RBC Ratio as of any calendar quarter-end is below 175% 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 material undisputed amounts due to the Ceding Company hereunder, or to fund the Trust Account to any material undisputed required amount, and such failure has not been cured within thirty (30) calendar days after written notice thereof from the Ceding Company; (c) a Reserve Credit Event has occurred and the Reinsurer has not remedied such event in accordance with the timelines in Article VI; or (d) an Insolvency Event with respect to the Reinsurer. “Recoveries” has the meaning set forth in Section 3.2(a). “Regulatory Action” has the meaning set forth in Section 5.1(a).
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Related to Recapture Triggering Event

  • 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.

  • 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).

  • 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.

  • 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)).