Recapture and Termination Sample Clauses
Recapture and Termination. The "Termination Date" of this Agreement shall be effective on the date specified pursuant to the cause of such termination as described in the events below.
a. The Cedant has the right to recapture the Policies, thereby terminating the reinsurance under this Agreement, by sending Notice to the Reinsurer at least ninety (90) calendar days prior to the intended termination date. The Termination Date shall be effective on the 90th day from the Delivery of such Notice. If such recapture is the result of any other of the termination events specified below, the Parties shall follow the terms and conditions of such other termination event. Otherwise, the Cedant shall be required to pay the Loss Carry Forward balance as of the Termination Date, if any, to the Reinsurer as a result of recapture under this sub-Article. Unless agreed to by the Reinsurer, recapture will apply to all Policies in force at the time of recapture.
b. The Cedant has the right to terminate if, as a result of a change in regulatory requirements or the interpretation thereof, the Cedant is unable to take statutory credit for the reserves and/or the surplus requirements associated with the Policies. Termination under this provision will be allowed, and without the ninety (90) days prior written notice, as long as a reasonable effort has been made by the Cedant and the Reinsurer to make mutually acceptable changes to this Agreement to reverse the impact of the change in regulatory requirements or interpretation thereof and such effort is unsuccessful in restoring the reserve or surplus credit. The Termination Date shall be effective on the Delivery of such Notice.
c. A Party shall provide prompt Notice to the other Party if at any time during the effect of this Agreement the Party loses its license to transact the class of business reinsured hereunder. Either Party shall have the right to terminate this Agreement with immediate effect as of the Delivery of the termination Notice (the Termination Date). In the event the termination is due to the Reinsurer's loss of license, then the Cedant shall not be required to pay the Loss Carry Forward balance, if any. Otherwise, the Cedant shall be required to pay the Loss Carry Forward balance as of the Termination Date, if any, to the Reinsurer as a result of recapture and termination under this sub-Article.
d. A Party may terminate this Agreement if the other Party fails to make payments in accordance with Article XII - Reports and Settlement or if th...
Recapture and Termination. ALRe is hereby exercising its right to Recapture pursuant to Section 3.03 of the Agreement and the Agreement is terminated pursuant to Section 3.01(c) thereof.
Recapture and Termination. The Retrocedent shall recapture the Retroceded Business in its entirety effective as of October 31, 2007 (the “Effective Date”). The Retrocession Agreement shall be terminated as of the Effective Date.
Recapture and Termination. Excluding Permitted Transfers defined below, upon receipt of Tenant’s request for consent to any other Transfer which constitutes an assignment of all or substantially all of Tenant’s interest in this Lease or the subletting of all or substantially all of the Premises for all or substantially all of the remainder of the Term hereof, Landlord may elect, by written notice given to Tenant within thirty (30) days after receipt of the information required pursuant to Section 17.2 above, to terminate this Lease in its entirety, effective upon a date specified by Landlord, which date shall not be earlier than thirty (30) days nor later than sixty (60) days after Tenant’s request for consent.
Recapture and Termination