Reinsurer Termination Event definition

Reinsurer Termination Event means any failure by the Company (or any successor by operation of law of the Company, including any receiver, liquidator, rehabilitator, conservator or similar Person of the Company) to pay any material amount due to the Reinsurer under this Agreement payable by the Company if such failure has not been cured within ninety (90) calendar days after receipt of written notice thereof from the Reinsurer.
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Reinsurer Termination Event means the following occurrence: the Ceding Company fails to pay any material amount due to the Reinsurer under this Agreement and (x) such amount is not subject to a good faith dispute and (y) such failure is not cured within sixty (60) days after the Ceding Company has received written notice of such failure from the Reinsurer in the form attached hereto as Annex B.
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Reinsurer Termination Event means any failure by the Cedant (or any successor by operation of law of the Cedant, including, but not limited to, any receiver, liquidator, rehabilitator, conservator or similar Person of the Cedant) to pay any material undisputed amount due to the Reinsurer under this Agreement payable by the Cedant and such failure has not been cured within forty-five (45) days after written notice thereof from the Reinsurer.
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Examples of Reinsurer Termination Event in a sentence

  • Upon the occurrence of a Reinsurer Termination Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement by providing written notice of its intent to terminate.

  • Upon the occurrence of a Reinsurer Termination Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement by providing written notice to the Company of its intent to terminate.

  • Upon the occurrence of a Reinsurer Termination Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement in its entirety, in which case the Cedant shall recapture all of the Reinsured Liabilities ceded hereunder, by providing the Cedant with written notice of its intent to effect such a termination and recapture (the “Reinsurer Termination Notice”).

  • Termination of this Agreement shall be effective on the date specified in such notice, provided that such date shall not be prior to the date on which the Reinsurer Termination Event occurred.

  • Upon the occurrence of a Reinsurer Termination Event, the Reinsurer shall have the right (but not the obligation) to terminate this Agreement by providing written notice of its intent to terminate to the Ceding Company.

  • Termination of this Agreement shall be effective on the date specified in such notice, provided, that such date shall not be prior to the date on which the Reinsurer Termination Event occurred.


More Definitions of Reinsurer Termination Event

Reinsurer Termination Event means a failure by the Ceding Company to timely pay any undisputed amounts due hereunder in an aggregate amount exceeding , which has not been cured within thirty (30) days after written notice thereof from the Reinsurer.
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Reinsurer Termination Event means any failure by the Ceding Company (or any successor by operation of law of the Ceding Company, including any receiver, liquidator, rehabilitator, conservator or similar Person of the Ceding Company) to pay any material amount due to the Reinsurer under this Agreement payable by the Ceding Company and not subject to good faith dispute between the Ceding Company and the Reinsurer if such failure has not been cured within thirty (30) calendar days after the Ceding Company’s receipt of written notice thereof from the Reinsurer. (xx) “SAP” means the statutory accounting practices and procedures required or permitted by the insurance regulatory authority of the State of Illinois, consistently applied, as in effect from time to time. (yy) “Statutory Book Value” means, for the purposes of valuing assets being deposited to or in the Funds Withheld Account, the admitted value of such assets on the statutory books and records of the Ceding Company as determined by the Ceding Company in accordance with SAP. (zz) “Statutory Reserves and Liabilities” means the sum of all of the reserve items (including reserve items for claims incurred but not reported, claims in the course of settlement, escheat or abandoned property liabilities, any asset valuation reserves, any interest maintenance reserves and any cash flow testing reserves) maintained by the Ceding Company for all the Reinsured Policies, net of Other Reinsurance calculated in accordance with SAP. (aaa) “Terminal Accounting Date” means: (i) where termination was as of a Natural Termination Date, the Terminal Accounting Date for the Terminal Accounting Period shall be the Natural Termination Date; or (ii) where termination was as of a Payment Failure Termination Date, the Terminal Accounting Date for the Terminal Accounting Period shall be the Payment Failure Termination Date. (bbb) “Terminal Accounting Period” means the Accounting Period during which the Terminal Accounting Date occurs, which shall end on the Terminal Accounting Date.
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Reinsurer Termination Event. [***]. “Representative” of a Person or its Affiliates means the officers, directors, general partners, managers, employees, investment bankers, advisors, accountants, agents, legal counsel, stockholders, consultants, independent accountants or other representatives of such Person and of such Person’s Affiliates. “Required Balance” [***]. “Reserve Credit” means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in all United States jurisdictions in which the Ceding Company is licensed, authorized or accredited to transact business. “Reserve Credit Event” means any event, change or condition that would cause the Ceding Company to not be permitted to receive Reserve Credit. “Security Agreement” has the meaning set forth in the Recitals. “Separate Account Changes” has the meaning set forth in Section 2.8(b). “Separate Account Charges” has the meaning set forth in Section 3.2(b). “Separate Account Liabilities” has the meaning set forth in Section 2.8(a). “Separate Account Reserves” means, as of any date of determination, the aggregate amount of statutory reserves of the Ceding Company with respect to the Separate Account Liabilities (as would be described in Line 1, column 3 of the Liabilities section and Exhibit 3 of the Statutory Financial Statements related to separate accounts of the Ceding Company (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2020)), calculated in accordance with the Applicable SAP. “Separate Accounts” means the registered and unregistered separate accounts of the Ceding Company applicable to the Reinsured Contracts identified in Schedule B. For the avoidance of doubt, with respect to PALAC Separate Account B, which includes assets related to the Reinsured Contracts and the Business (as defined in the Stock Purchase Agreement), for purposes of this Agreement and the Administrative Services Agreement, “Separate Account” shall only refer to the sub-accounts therein related exclusively to the Reinsured Contracts. “Settlement Statement” has the meaning set forth in Section 3.3(a). “Statutory Book Value” means, for the purposes of valuing Eligible Assets in the Trust Account, the admitted value of such assets on the Reinsurer’s statutory balance sheet, including accrued interest income, as of any date of determination, determined by the Reinsurer in accordance with Applicable SAP. “Statutory Fina...
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Related to Reinsurer Termination Event

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Company Termination Event has the meaning set forth in Section 10 hereof.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Potential Termination Event means an event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event.

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Early Termination Event has the meaning specified in Section 9.2.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

  • Operating Advisor Termination Event As defined in Section 7.06(a) of this Agreement.

  • Event Termination Date See Section 2(e) hereof.

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Servicer Termination Notice Defined in Section 6.15.

  • Series Termination Date means, with respect to any Series of Certificates, the date stated in the related Supplement.

  • Purchase and Sale Termination Event has the meaning set forth in Section 8.1 of the Sale Agreement.

  • Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person:

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.