Risk Trigger Event definition

Risk Trigger Event means that any of the following has occurred:
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Risk Trigger Event means that any of the following has occurred: (1) THE REINSURER's Adjusted Capital, at any point in the future, falls to a dollar amount that is more than fifteen percent (15%) lower than the dollar amount of Adjusted Capital held by THE REINSURER as of the date of its financial statements most recently published prior to the date of this Agreement; (2) THE REINSURER does not maintain its status as a licensed or accredited reinsurer under the applicable laws and regulations of Arizona and has not provided THE COMPANY with alternative security (such as a trust or letter of credit) that satisfies THE COMPANY's specific requirements and the current, applicable legal and regulatory requirements in Arizona necessary to entitle THE COMPANY to take the maximum permissible credit on its statutory financial statements. (3) THE REINSURER no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ------------------------------------ ----------------------------------- Major Rating Agency Minimum Applicable Rating: ==================================== =================================== ------------------------------------ ----------------------------------- Xxxxx Investor Services, Inc. A rating of "Baa2" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "BBB" or higher. ------------------------------------ ----------------------------------- Definitions:
Sample 1
Risk Trigger Event means that any of the following has occurred: (1) AUSA does not have statutory surplus of at least $300 million; (2) AUSA's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of Section 25 of this Agreement, no Risk Trigger Event will be deemed to have occurred; or (3) AUSA no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ================================================================== Major Rating Agency Minimum Applicable Rating: ================================================================== Fitch IBCA, Duff & Pxxxxx A rating of "A-" or higher. ------------------------------------------------------------------ Mxxxx Investor Services, Inc. A rating of "A3" or higher. ------------------------------------------------------------------ Standard & Poors Corporation A rating of "A-" or higher. ==================================================================
Sample 1

Examples of Risk Trigger Event in a sentence

  • At any time during the term of the Agreement, PRUCO may elect to recapture in full the coverage reinsured under this Agreement following the occurrence of either of the following events: (1) a "Risk Trigger Event" as defined in Schedule A of this Agreement; or (2) a Plan Change as described in Section 19 d.

  • At any time during the term of the Agreement, PRUCO OF NJ may elect to recapture in full the coverage reinsured under this Agreement following the occurrence of either of the following events: (1) a "Risk Trigger Event" as defined in Schedule A of this Agreement; or (2) a Plan Change as described in Section 19 d.

  • If THE COMPANY elects to recapture the coverage reinsured under this Agreement as a result of a Risk Trigger Event, it must do so for all coverages reinsured under all agreements between THE COMPANY and THE REINSURER for which a Risk Trigger Event occurred.

  • The Funds Withheld must be an amount that is at least as great as the Security Amount (as defined in this Subsection ‘a’.) THE COMPANY has indicated will be required under this Agreement and all other related reinsurance agreements between THE REINSURER and THE COMPANY for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, has occurred.

  • If THE COMPANY elects to recapture the coverage reinsured under this Agreement as a result of a Risk Trigger Event, it must do so for all coverages reinsured under all agreements between THE COMPANY and THE REINSURER for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, occurred.

  • The occurrence of a "Risk Trigger Event" as defined in Schedule A of this Agreement.

  • All of the Letters of Credit must, in the aggregate, provide for a maximum amount that can be drawn thereunder of a sum that is at least as great as THE COMPANY has indicated will be required under the terms of this Agreement and under the respective terms of all other related reinsurance agreements between THE REINSURER and THE COMPANY for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, has occurred.

  • For recapture due to a Risk Trigger Event or insolvency, additional settlement terms are described in the “Risk Trigger Event’ section of Schedule A and the ‘INSOLVENCY’ section, respectively.

  • For recapture due to a Risk Trigger Event or insolvency, additional settlement terms are described in the “Risk Trigger Event’ section of Schedule A and the ‘Insolvency’ section, respectively.

  • Policies issued on or after January 1, 2004 cannot be recaptured due to the occurrence of a "Risk Trigger Event" as described in Section 20 of this Agreement.


More Definitions of Risk Trigger Event

Risk Trigger Event means that THE REINSURER no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: Mxxxx Investor Services, Inc. A rating of “A3” or higher. Standard & Poors Corporation A rating of “A-” or higher.
Sample 1Sample 2
Risk Trigger Event means that any of the following has occurred: (1) TOLIC does not have statutory surplus of at least $300 million; (2) TOLIC's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct, except that if TOLIC elects to, and does, provide additional security in accordance with the requirements of the last paragraph of Section 25 of this Agreement, no Risk Trigger Event will be deemed to have occurred; or (3) TOLIC no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ==================================== =================================== Major Rating Agency Minimum Applicable Rating: ==================================== =================================== Fitch IBCA, Duff & Phelps A rating of "A-" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Moody Investor Services, Inc. A rating of "A3" ox xxxher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "A-" or higher. ==================================== ===================================
Sample 1
Risk Trigger Event means that any of the following has occurred: (1) AUSA does not have statutory surplus of at least $300 million, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of this Section 10, no Risk Trigger Event will be deemed to have occurred; (2) AUSA's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of Section 25 of this Agreement, no Risk Trigger Event will be deemed to have occurred; or (3) AUSA no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies that is at least as high as the minimum levels shown in the following chart: ------------------------------------ ----------------------------------- Major Rating Agency Minimum Applicable Rating: ==================================== =================================== Fitch IBCA, Duff & Xxxxxx A rating of "A-" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Xxxxx Investor Services, Inc. A rating of "A3" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "A-" or higher. ------------------------------------ -----------------------------------
Sample 1
Risk Trigger Event means that the following has occurred: • THE REINSURER’s ratio of Total Adjusted Capital (as defined by the NAIC RBC formula and reported on THE REINSURER’s Annual Statement) to Authorized Control Level Risk-Based Capital becomes or falls below two hundred percent (200%)
Sample 1
Risk Trigger Event means that any of the following has occurred: (1) ANNUITY & LIFE RE does not have statutory surplus of at least $300 million; (2) ANNUITY & LIFE RE has failed to satisfy any of its obligations with respect to furnishing and maintaining, during the life of this Agreement, the Letters of Credit in strict accordance with the applicable provisions of Sections 29 and 30 of this Agreement; or (3) ANNUITY & LIFE RE no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ================================================================= Major Rating Agency Minimum Applicable Rating: ================================================================= Fitch IBCA, Duff & Pxxxxx A rating of "BBB+" or higher. ----------------------------------------------------------------- Mxxxx Investor Services, Inc. A rating of "Baa1" or higher. ----------------------------------------------------------------- Standard & Poors Corporation A rating of "BBB+" or higher. =================================================================
Sample 1
Risk Trigger Event means that the Reinsurer’s ratio of “Total Adjusted Capital to Company Action Level Risk-Based Capital (each as defined by the National Association of Insurance Commissioner’s RBC Formula) becomes or falls below two hundred fifty percent (250%).
Sample 1

Related to Risk Trigger Event

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Cash Dominion Trigger Period means the period commencing on the occurrence of a Cash Dominion Trigger Event, and continuing until the date that (a) no Event of Default shall be continuing and (b) Excess Availability is greater than or equal to the greater of (i) 15.0% of the Line Cap and (ii) $6,250,000, in each case, for a period of at least three (3) consecutive Business Days.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Ratings Event means a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by two or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s rating of the Notes on the Issue Date.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • Relevant Event means any Termination Event or any Mandatory Prepayment Event or any event which after the giving of notice or lapse of time or the satisfaction of any other condition (or any combination thereof) would constitute a Termination Event or a Mandatory Prepayment Event;

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.