Commutation Consideration definition
Commutation Consideration means, with respect to any Commuting Policy Beneficiary:
Commutation Consideration means a combination of some or all of the following, to be selected by the applicable Monoline Insurer at its sole discretion at or prior to the Plan Supplement Deadline: (i) some or all of a Holder’s Pro Rata Share of the Monoline Plan Consideration; and (ii) Cash in an amount to be determined by the applicable Monoline Insurer in its sole discretion.
Commutation Consideration has the meaning set forth in Section 3.1.
Examples of Commutation Consideration in a sentence
The Commutation Amount shall be determined, and the Commutation Consideration shall be paid and adjusted, in accordance with Section 3.3.
Within three (3) business days after MBIA receives the full amount of the Commutation Consideration set forth in § 2 of this Agreement, MBIA shall consent to transfer of any assets remaining in the Trust Account to RAM Re pursuant to the terms of § 10 of the Trust Agreement and in the form substantially similar to the form attached to this Agreement as Schedule 6.
More Definitions of Commutation Consideration
Commutation Consideration means a Cash distribution made by the Bond Insurer to each holder of Series A-2 Bonds participating in the Commutation Offer equal to 20% of the amount of Series A-2 Bonds held by such holder of Series A-2 Bonds participating in the Commutation Offer on the Effective Date.