Third Party Reinsurance Recoverables means Gross Third Party Reinsurance Recoverables, less Collection Expenses.
Third Party Reinsurance Recoverables means recoverables under Third Party Reinsurance Agreements, when and as calculated in accordance with the terms of the applicable Third Party Reinsurance Agreement, with respect to the Subject Business, whether or not billed or collected, by or on behalf of Aspen, less any reinstatement premiums or other loss-triggered additional premiums paid under Third Party Reinsurance Agreements to the extent applicable to Covered Losses, and excluding any recoverables under Third Party Reinsurance Agreements to the extent attributable to Claims paid by Aspen prior to the Effective Date or other amounts paid by Aspen prior to the Closing Date and excluded pursuant to Section 2.5(a). For the avoidance of doubt, any reinstatement premiums or other loss-triggered additional premiums paid under Third Party Reinsurance Agreements to the extent applicable to Covered Losses are for the account of the Reinsurer and may result in the value of the Third Party Reinsurance Recoverables determined in respect of a period being equal to or less than zero (0).
Third Party Reinsurance Recoverables means all amounts due under any and all Third Party Reinsurance Treaties, including all receivables, recoverables, returns, amounts in respect of profit sharing and all other sums to which Ceding Company may be entitled under Third Party Reinsurance Treaties.
Examples of Third Party Reinsurance Recoverables in a sentence
Any Third Party Reinsurance Recoverables, whether or not actually collected, shall be applied for the benefit of the Reinsurer with respect to losses hereunder.
More Definitions of Third Party Reinsurance Recoverables
Third Party Reinsurance Recoverables means recoveries under Thi rd Party Reinsurance Agreements with respect to the Underlying Business, whether actually collected or not, by or on behalf of Maiden Re. "Transaction Agreements" means th is Agreement, the Master Agreement, the Existing Quota Share Agreement, the Master Collateral Agreement and any Letters of Credit (as defined in the Master Collateral A1:,rreement). "Transfer Taxes" means any and all sales, use, value added, stamp, documenta1y, filing, recording, transfer, real estate, stock transfer, intangible property transfer, personal property transfer, gross receipts, registration, securities transactions, conveyance and notarial Taxes, and similar fees, Taxes and governmental charges (together with any interest, penalty, addition to Tax, and additional amount imposed in respect thereof) arising out of or in connection with the transactions contemplated by the Master Agreement. "Ultimate Net Loss" means (i) Covered Losses actuall y paid by or on behalf of Maiden Re, plus (i i) Commuted Covered Losses paid or settled by A!I or its Affi liates, plus (iii) Other Commuted Covered Losses, less (iv) Recoverables actually collected with respect to Covered Losses by or on behalf of Maiden Re, less (v) Third Party Reinsurance Recoverables with respect to Covered Losses. "Underl ying Business" means "Covered Business" as such tenn is defi xxx in the Existing Quota Share Agreement. 6
Third Party Reinsurance Recoverables means Gross Third Party Reinsurance Recoverables, less Collection Expenses. “Transaction Documents” means the Master Transaction Agreement and the Ancillary Agreements (as such term is defined in the Master Transaction Agreement), other than this Reinsurance Agreement. “Trustee” means the trustee named in the Collateral Trust Agreement and any successor trustee appointed as such pursuant to the terms of such Collateral Trust Agreement. “Ultimate Net Loss” has the meaning set forth in Section 2.3. “Unallocated Loss Adjustment Expenses” means any loss adjustment expenses which are not Allocated Loss Adjustment Expenses. For purposes of this Reinsurance Agreement, this definition of “Unallocated Loss Adjustment Expenses” will apply regardless of how the Reinsured reserve for Unallocated Loss Adjustment Expenses on its annual and quarterly statutory financial statements filed with Governmental Authorities. 11
Third Party Reinsurance Recoverables means recoverables under Third Party Reinsurance Agreements, when and as calculated in accordance with the terms of the applicable Third Party Reinsurance Agreement, with respect to the Subject Business, whether or not billed or collected, by or on behalf of Aspen, less any reinstatement premiums or other loss-triggered additional premiums paid under Third Party Reinsurance Agreements to the extent applicable to Covered Losses, and excluding any recoverables under Third Party Reinsurance Agreements to the extent attributable to Claims paid by Aspen prior to the Effective Date or other amounts paid by Aspen prior to the Closing Date and excluded pursuant to Section 2.5(a). For the avoidance of doubt, any reinstatement premiums or other loss-triggered additional premiums paid under Third Party Reinsurance Agreements to the extent applicable to Covered Losses are for the account of the Reinsurer and may result in the value of the Third Party Reinsurance Recoverables determined in respect of a period being equal to or less than zero (0). “Transferring Employees” has the meaning set forth on Exhibit A. “Transaction Agreements” means this Agreement and the other agreements to be entered into in connection with the transactions contemplated by this Agreement as described herein, including each Trust Agreement and the Administrative Services Agreement. “True-up Dispute Cooling-Off Period” has the meaning set forth in Section 3.3(c). “True-Up Dispute Notice” has the meaning set forth in Section 3.3(b). “Trust Account” means any account established pursuant to a Trust Agreement. “Trust Agreement” means any trust agreement (or other relevant security and custody agreements) to be entered into by and among the Reinsurer, as grantor, a reinsured included in the definition of “Aspen”, as beneficiary, and the Trustee for purposes of providing
Third Party Reinsurance Recoverables shall have the meaning provided in the LPT Retrocession Agreement.
Third Party Reinsurance Recoverables shall have the meaning set forth in the Reinsurance Agreement.