Reset Agent Clause Samples
Reset Agent. The Company and the Trustee agree that Goldman, Sachs & Co. will act as the Reset Agent unless and until rem▇▇▇▇ ▇▇ p▇▇▇▇▇ed in this Section 2.17. If requested by the Company, the Reset Agent shall seek an indicative Reference Fixed Rate from one other nationally recognized investment bank engaged by the Company for such purpose. The determination of any applicable Reset Rate shall be made by the Reset Agent by averaging the indicative Reference Fixed Rate obtained by it and the indicative Reference Fixed Rate provided by such other investment bank. If an indicative Reference Fixed Rate cannot reasonably be obtained from one other nationally recognized investment bank or if the Company chooses not to engage such other investment bank, then the Reference Fixed Rate determined by the Reset Agent shall be used. The determination of any applicable Reset Rate by the Reset Agent will be conclusive and binding upon the Reset Agent, the Company, the Trustee and the Holders, in the absence of manifest error. The Reset Agent may be removed at any time with or without cause by the Company upon giving at least thirty (30) days' written notice to the Reset Agent. The Reset Agent may resign at any time upon giving at least thirty (30) days' written notice to the Company. A successor Reset Agent, if any, will be appointed by the Company.
Reset Agent. A. Reset. Using the Updated Projected Exposure Data as of the applicable Calculation Date, the Updated Stated Reinsurance, if any, the Updated Loss Adjustment Expense Factor, if any, and the Escrow Loss Probability Model (based on the Base Case analysis), the Reset Agent will reset (each, a “Reset”) effective as of the Reset Effective Date, the Attachment Point, Exhaustion Point, Risk Interest Spread, if applicable, and Insurance Percentage, using the following procedures. A Substitute Reset will also be deemed a Reset.
1. Reset Effective Date. Each Reset will be effective as of the first day of the applicable Annual Risk Period.
Reset Agent