Supported Syndicate definition

Supported Syndicate means Lloyd’s Syndicate 1458 underwriting insurance business at Lloyd’s through the Managing Agent.
View Source
Supported Syndicate means Lloyd’s Syndicate 1221 underwriting insurance business at Lloyd’s through the Managing Agent.
View Source

Examples of Supported Syndicate in a sentence

  • A summary of the RDS calculations (including the information necessary to calculate the covenants in Sections 6.23(e) and (f)) for the Supported Syndicate prepared in accordance with the definitions and reporting requirements of Lloyd’s as in effect on the Closing Date for the applicable account years to be covered by the Letters of Credit to be issued hereunder.

  • The net loss on the Supported Syndicate from any Lloyd’s prescribed RDS shall not at any time exceed 20% of the total Supported Syndicate capacity for any Year of Account.

  • The aggregate amount of Funds at Lloyd’s provided by the Corporate Members of the Supported Syndicate shall not be less than the highest of (i) 25% of the total Funds at Lloyd’s required to be provided to the Supported Syndicate and (ii) 90% of the aggregate of the three highest net RDS scenarios for any Year of Account.

  • Letters of Credit will be issued to provide Funds at Lloyd’s to support underwriting capacity provided by the Corporate Member to the Supported Syndicate for the 2015 and 2016 underwriting years of account (and prior open years).

  • The Lloyd’s Comfort Letter duly executed and a letter from the Corporate Members of the Supported Syndicate setting forth the Primary FAL for the Supported Syndicate, in each case for the 2012 Year of Account.

  • Letters of Credit will be issued to provide Funds at Lloyd’s to support underwriting capacity provided by the Corporate Members to the Supported Syndicate for the 2011 and 2012 underwriting years of account (and prior open years).

  • The Lloyd’s Comfort Letter duly executed1 and a letter from the Corporate Members of the Supported Syndicate setting forth the Primary FAL for the Supported Syndicate, in each case for the 2011 Year of Account.

  • A summary of the RDS calculations (including the information necessary to calculate the covenants in Sections 6.23(e) and (f)) for the Supported Syndicate prepared in accordance with the definitions and reporting requirements of Lloyd’s as in effect on the Amendment Effective Date for the applicable account years to be covered by the Letters of Credit to be issued hereunder.

  • Letters of Credit will be issued to provide Funds at Lloyd’s to support underwriting capacity provided by the Corporate Members to the Supported Syndicate for the 2013 and 2014 underwriting years of account (and prior open years).

  • Subject to the duties of Lloyd’s as trustee of all such Funds at Lloyd’s and to any conditions and requirements prescribed under the Membership Byelaw which are applicable, the Borrower will cause the Corporate Member and the Managing Agent to use their best efforts to cause the Primary FAL of the Supported Syndicate to be applied to its obligations and only after such Primary FAL has been exhausted, to draw under the Letters of Credit.

Related to Supported Syndicate

  • Facility Agent has the meaning set forth in the Preamble.

  • Credit Facility Agent means that certain agent, in its capacity as arranger and administrative agent under the Credit Agreement or any replacement or successor agent under the Credit Agreement.

  • Educational facility means a structure available for use as a dormitory or other housing facility, including housing facilities for students, a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, and maintenance, storage, or utility facility, and other structures or facilities related thereto or required or useful for the instruction of students or the conducting of research or the operation of an institution for higher education, including parking and other facilities or structures essential or convenient for the orderly conduct of the institution for higher education, and shall include lands and interests in lands and landscaping, site preparation, furniture, equipment, machinery, and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended, and any improvements necessary to a particular facility to make the facility more energy efficient. Educational facility does not include items as books, fuel, supplies, or other items the costs of which are customarily deemed to result in a current operating charge and does not include any facility used or to be used for sectarian instruction or as a place of religious worship, nor a facility which is used or to be used primarily in connection with a part of the program of a school or department of divinity for a religious denomination.

  • Successful Syndication shall have the meaning given to such term in the Fee Letter.

  • Exit Facility Agent means the agent under the Exit Facility.