BMA Approval definition

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such Notes.

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BMA Approval means the BMA has given, and not withdrawn by such date, its prior consent to the redemption of such Notes.

BMA Approval means the BMA has given, and not withdrawn by such date, its prior consent to the redemption of such Senior Notes.

Examples of BMA Approval in a sentence

• Any repurchase of the Preference Shares by the Company or its subsidiaries occurring prior to November 30, 2029 shall be subject to BMA Approval (provided that, if under the Applicable Supervisory Regulations, BMA Approval is not required at the time in order for the Preference Shares to qualify or continue to qualify as Tier 2 capital securities under then-applicable Capital Adequacy Regulations imposed upon the Company by the BMA, such BMA Approval shall not be required).

• Any redemption of the Preference Shares occurring prior to November 30, 2029 as provided for in Sections 7(a)(2), 7(a)(3), 7(a)(4) and 7(a)(5) shall be subject to BMA Approval (provided that, if under the Applicable Supervisory Regulations, BMA Approval is not required at the time in order for the Preference Shares to qualify or continue to qualify as Tier 2 capital securities under then-applicable Capital Adequacy Regulations imposed upon the Company by the BMA, such BMA Approval shall not be required).

• Notwithstanding anything to the contrary in the Indenture, no modification or amendment to the Stated Maturity or the principal of, or any premium or installment of interest on, or any Additional Amounts with respect to, any of the Notes is permitted without (i) the consent of the Holder of each Note affected thereby and (ii) BMA Approval.

• Further, notwithstanding anything to the contrary set forth in the Original Indenture, this Supplemental Indenture or the Senior Notes, the Senior Notes may not be redeemed or repaid at any time prior to February 25, 2028 without BMA Approval.

• Further, notwithstanding anything to the contrary set forth herein, the Notes will not be redeemable or repaid at any time prior to June 15, 2030 without BMA Approval (provided that such BMA Approval would be required at such time in order for the Notes to qualify as Tier 2 Capital).

More Definitions of BMA Approval

BMA Approval means the BMA has given, and not withdrawn by the applicable Redemption Date or repurchase date, as the case may be, its prior consent to the redemption or repurchase of such Preference Shares.

BMA Approval means the Company has delivered notice to the BMA of a planned redemption and has not received within 30 days following delivery of such notice an objection from the BMA to the redemption of such Senior Notes.

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such notes. “ECR” means the enhanced capital and surplus requirement applicable to the Insurance Group and as defined in the Bermuda Insurance ▇▇▇ ▇▇▇▇, as amended from time to time, or, should the Insurance Act or the Group Rules no longer apply to the Insurance Group, any and all other solvency capital requirements defined in the Applicable Supervisory Regulations.

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such Notes. “BMA Redemption Requirements”, notwithstanding anything to the contrary herein, means the Notes may not be redeemed at any time or repaid if the Enhanced Capital Requirement is or would be breached immediately before or after giving effect to such redemption or repayment of the Notes, unless the Issuer or a subsidiary of the issuer replaces the capital represented by the Notes to be redeemed or repaid with capital having equal or better capital treatment as the Notes under the Group Rules; provided that any redemption of the Notes prior to April 5, 2027 will be subject to BMA Approval.

BMA Approval means the Issuer has delivered notice to the BMA of a planned redemption and has not received within 30 days following delivery of such notice an objection from the BMA to the redemption of such Notes. “ECR” means the enhanced capital requirement applicable to the Insurance Group and as defined in the Insurance Act or, should the Insurance Act or should the Group Supervision Rules no longer apply to the Insurance Group, any and all other solvency capital requirements defined in the Applicable Supervisory Regulations. “Enhanced Capital Requirement” means the ECR or any other requirement to maintain assets applicable to the Issuer or in respect of the Insurance Group, as applicable, pursuant to the Applicable Supervisory Regulations. “Group Rules” means Group Solvency Standards, together with the Group Supervision Rules. “Group Solvency Standards” means the Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Rules 2011 of Bermuda, as those rules and regulations may be amended or replaced from time to time. “Group Supervision Rules” means the Insurance (Group Supervision) Rules 2011 of Bermuda, as those rules and regulations may be amended or replaced from time to time. “Insurance Act” means the Bermuda Insurance Act 1978, as amended from time to time.

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such Notes. “BMA Redemption Requirements”, notwithstanding anything to the contrary herein, means (i) prior to March 31, 2025, the Notes may be redeemed only with BMA Approval, and (ii) the Notes may not be redeemed at any time or repaid prior to the Final Maturity Date if the Enhanced Capital Requirement would be breached immediately before or after giving effect to such redemption or repayment of the Notes, unless, in the case of each of clauses (i) and (ii) the Issuer or a subsidiary of the Issuer replaces the capital represented by the Notes to be redeemed or repaid with capital having equal or better capital treatment as the Notes under the Group Rules, provided that if under Applicable Supervisory Regulations no such consent is required at the time in order for the Notes to qualify, or continue to qualify, as applicable, as Tier 3 Capital of the Issuer or the Insurance Group, clause (i) shall not apply.

BMA Approval means RenaissanceRe has delivered notice to the BMA of a planned redemption and has not received within 30 days following delivery of such notice an objection from the BMA to the redemption of such Notes.