Capital Model definition
Examples of Capital Model in a sentence
The Borrower will not materially amend, modify, waive or otherwise make any material change to the Capital Model without first satisfying the Rating Condition.
Each Member, by execution of this Agreement or its acceptance of a Member Interest, agrees to, consents to and acknowledges the delegation of powers and authority to the Managing Member granted hereunder (subject to Section 11.4) and the actions and decisions of the Managing Member that are within the scope of its power and authority as provided herein (including the use by the Managing Member of property owned by or licensed to the Company (including the Capital Model)).
If for 30 consecutive days the capital of the Company does not exceed the Minimum Capital Requirement as determined by the S&P Capital Model by at least 1%, the Managing Member shall appoint a replacement Servicer (as to which the Rating Condition with respect to S&P shall have been satisfied).
For purposes of this Section, "Total Adjusted Capital" and "Company Action Level RBC" shall have the meanings assigned to such terms under the NAIC Risk-Based Capital Model Act as promulgated by the NAIC as of the date hereof (it being understood that in the event the Florida Department adopts risk-based capital standards during the term hereof, the parties agree that calculations with respect to this convenant will be made in a manner consistent with standards used by such Department).
The Borrower will not permit Risk-Based Capital of RECO at any time from and after the Closing Date to be less than 130 percent of the "Company Action Level" for RECO at such time within the meaning of the NAIC Risk- Based Capital Model Act in the form as proposed by the NAIC as of the date hereof.
The Company shall not materially amend, modify, waive or otherwise make any material change to the Capital Model without first satisfying the Rating Condition.
Notwithstanding any other provision of this Credit Support Annex, Bonds and any other Posted Collateral shall only be released to Party A if the Minimum Capital Requirement (as defined in the Operating Agreement of Party B) is met after given effect to any such release as determined by the Capital Model (as defined in said Operating Agreement).
The Borrower shall have delivered to the Mezzanine Agent a certificate setting forth the "Available Mezzanine Loan Amount", as determined by the Capital Model.
For the purposes of this Agreement, the Agreed Net Working Capital is deemed to be $39,457,000 and is determined pursuant to the Working Capital Model.
For purposes of this Section, "Total Adjusted Capital" and "Company Action Level RBC" shall have the meanings assigned to such terms under the NAIC Risk-Based Capital Model Act as promulgated by the NAIC as of the date hereof (it being understood that in the event the Florida Department adopts risk-based capital standards during the term hereof, the Borrower, the Agent and the Required Lenders will amend this Agreement to provide for a replacement covenant substantially consistent herewith).