Examples of Significant impairment in a sentence
Any report notifying the Reinsurer of a Significant Impairment shall provide the CUSIP, ISIN or similar security identifier (as applicable) for the impaired ModCo Assets and describe the reason for each such impairment and the effect on Statutory Book Value of the applicable ModCo Assets.
Within five (5) Business Days following the Reinsurer’s receipt of written notification of a Significant Impairment, the Reinsurer shall provide written notice to the Ceding Company of its objection (the “Objection Notice”) to any such impairment determination.
In the event that the Bank causes Significant Impairment to the Company’s business model with respect to its ability to borrow or the Initial Credit Guidelines, the Limited Members shall only have the option, but not the obligation, to exercise the Company Sale Right as set forth in and in accordance with Article V, Section 3, subject to the following provisions and curative remedies in this Article XI, Section 8.
Notwithstanding anything in this Agreement, the Limited Members shall have no other rights or remedies, take action against the Bank or its Affiliates, or have other recourse against the Bank or its Affiliates in the event of a Significant Impairment.