Minimum Recapture Period Clause Samples
The Minimum Recapture Period clause establishes a specific timeframe during which certain benefits, incentives, or concessions provided under a contract must be repaid or forfeited if particular conditions are not met. For example, if a tenant receives a rent abatement or a business is granted a tax credit, and then fails to fulfill agreed-upon obligations—such as maintaining operations or employment levels—within the recapture period, the party may be required to return the benefit. This clause ensures that the granting party is protected from losses if the recipient does not uphold their end of the agreement, thereby allocating risk and encouraging compliance with contractual commitments.
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Minimum Recapture Period. Except as provided in the Reinsurance Rate Guarantee, no recapture, of either the TrueFit policy or any conversions therefrom, is permitted prior to the end of the level premium period. After the end of the level premium period, recapture of either the TrueFit policy or any subsequent conversions is permitted upon an increase in the Company's maximum corporate limits of retention, provided the Company originally held the full amount of retention anticipated under the treaty.
Minimum Recapture Period. Recapture not available.
Minimum Recapture Period. 20 years and contingent upon an increase in the Company's maximum limits of corporate retention.
Minimum Recapture Period. 30 Years
Minimum Recapture Period. At the end of the level premium period for policies where the maximum dollar retention was held at issue, up to the then current increased retention.