Buffer Percentage definition
Buffer Percentage means 1%;
Buffer Percentage means 1%; "Business" means the Retroceded Policies identified in Part A of Schedule 1; "Business Day" means any day other than a Saturday or Sunday or public or bank holiday in England and Bermuda; "Buyer's Group Undertaking" means Holdco or a company which is, at any time on or after the date of this Agreement, a subsidiary or holding company of Holdco or a subsidiary of a holding company of Holdco and includes the Company after the date of completion of the sale of the Company to Holdco pursuant to the Sale and Purchase Agreement; "Call Amount" means the amount (if any) by which the aggregate Balance of the Funds-Withheld Accounts as of any Valuation Date is less than the Collateral Amount for the Funds-Withheld Accounts as of such Valuation Date; - 2 - "Call Amount Default" means, with respect to any Funds-Withheld Account, the failure by the Retrocessionaire to pay any Call Amount with respect to such Funds-Withheld Account on or prior to the Due Date therefor in accordance with the terms of this Agreement and such Call Amount Default shall be deemed to continue until such time as the Call Amount due in respect of such Funds-Withheld Account (as adjusted as of any Valuation Date), together with all interest accrued thereon in accordance with Clause 8.10, is paid by the Retrocessionaire to the Retrocedant; "Call Amount Default Period" means the period commencing as of the Business Day immediately following the occurrence of either a Call Amount Default as defined in this Agreement or a "Call Amount Default" as defined in either of the other XL Retrocession Agreements and shall continue until such time as no Call Amount Default under this Agreement nor any "Call Amount Default" as defined in either of the other XL Retrocession Agreements is continuing; "Call Notice" has the meaning given to it in Clause 8.4; "Capital Notice" has the meaning given to it in Clause 11.2; "Capital Notice Challenge" has the meaning given to it in Clause 11.3; "Capital Requirements" means the regulatory capital requirements of the Company and/or the Retrocessionaire calculated in accordance with the Insurance Act; "Centre of Main Interest" has the meaning given to it in the EC Council Regulation of 29 May 2000 on insolvency proceedings (1346/2000/EC); "Change of Control" means the occurrence of an event following the completion of the sale of the Company and the Retrocessionaire to Holdco pursuant to the Sale and Purchase Agreement whereby:
Buffer Percentage means 10.00 per cent. (expressed as 0.10). "Cap" means 10.80 per cent (expressed as 0.108).