BMA Approval definition

BMA Approval means the BMA has given, and not withdrawn by such date, its prior consent to the redemption of such Notes.

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such Notes.

BMA Approval means the BMA has given, and not withdrawn by such date, its prior consent to the redemption of such Securities.

Examples of BMA Approval in a sentence

• 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.

• BMA Approval shall have been given to (i) each of the Consenting Lenders and (ii) Holders of no less than 70% of the PIK Loan Unsecured Claims that have completed and submitted the documents required by the BMA to the BMA.

• The shares of Worldwide that would otherwise be issued to Holder(s) that have not obtained BMA Approval will (i) be issued into escrow (along with any dividends, distributions or other consideration received in respect of the Worldwide shares), and (ii) will be released from escrow, along with any dividends, distributions or other consideration received, to such Holder(s) on such later date when BMA Approval is obtained.

• Holders(s) that have not obtained BMA Approval may transfer the right to receive such shares held in escrow to a valid transferee (as permitted pursuant to the Shareholders’ Agreement, but not subject to the right of first offer set forth therein).

More Definitions of BMA Approval

BMA Approval means the BMA letter approving the formation and marketing of the Fund;

BMA Approval means the BMA has given, and not withdrawn by such date, its prior consent to the redemption of such Notes.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

BMA Approval means the BMA has given, and not withdrawn by the applicable redemption date, its prior consent to the redemption of such Notes.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 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 Xxx 0000, 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 approval of the BMA pursuant to the Exchange Control Axx 0000 and Exchange Control Regulations 1973.

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 BMA has given, and not withdrawn by such 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 Xxx 0000, 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. “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 Solvency Standards” means the Bermuda Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Rules 2011, as those rules and regulations may be amended or replaced from time to time. “Group Supervision Rules” means the Bermuda Insurance (Group Supervision) Rules 2011, as those rules and regulations may be amended or replaced from time to time. “Insurance Act” means the Bermuda Insurance Xxx 0000, as amended from time to time.