Destacking definition

Destacking means the realignment of the ownership of certain subsidiaries, assets and non-insurance liabilities of the Company described in Section 3.3(a) and Schedule 3.3(a).
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Destacking means a transaction or series of transactions pursuant to which PXP ceases to be a Subsidiary of PLIC but remains a Wholly Owned Subsidiary of the Parent.
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Destacking. ’ means the realignment of the ownership of certain subsidiaries, assets and non-insurance liabilities of the Company described in Section 3.3(a) and Schedule 3.3(a).
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Examples of Destacking in a sentence

  • The Destacking will remove from ownership by the Company, by way of an extraordinary dividend subject to regulatory approval, certain groups of companies which are presently direct and indirect subsidiaries of the Company or which may become direct or indirect subsidiaries between the Adoption Date and the Effective Date.

  • In connection with the Reorganization, the Company may, but shall not be required to, effect any or all of the Destacking and the other financial transactions described in this Section 3.3. The completion of any or all of such transactions shall not be a condition to the effectiveness of this Plan.

  • The proposal to approve the Plan shall include all of the constituent elements thereof, including without limitation (x) the Destacking, including the Destacking Extraordinary Dividend, (y) the Additional Extraordinary Dividend and (z) the other financial and reinsurance transactions described in Section 3.3(c), and none of the transactions listed in (x), (y) and (z) above or any other constituent element of the Plan shall be subject to separate approval by the policyholders of the Company.

  • The primary actions comprising the Destacking are set forth in Appendix A, attached hereto and made a part hereof.

  • In addition to the approval by the Commissioner of this Plan under Chapter 17C and Article X, the Destacking and other financial transactions described in this Section 3.3 shall be subject to any separate respective approvals by the Commissioner under all other applicable requirements of New Jersey insurance law, including without limitation the New Jersey Holding Company Systems Act.

  • Accordingly, the Destacking Date is _________________ with the result that the guaranty by PLIC of the Obligations owing you from PXP provided for in Section 10.2 of the Credit Agreement is of no further force or effect.

  • PLIC shall as of the last day of each calendar quarter (i) ending prior to the Destacking Date have a Risked Based Capital Ratio of not less than 2.00 to 1 and (ii) ending on or after the Destacking Date have a Risk Based Capital Ratio of not less than 2.10 to 1.

  • Destacking of cylinders from nominated stack on the Plant floor, shifting of cylinders if required opening / fixing of valve by approved tools, filling of water into the cylinders upto the brim, removing the water by inverting the cylinders and shifting the same on the ground after putting corporation supplied bung cap.

  • Filling, Stacking, De-stacking, Weighment of Cowdy / Ginjump, Empty lint bora restichting, Re- heaping of kapas heap, Re-heaping of cotton seed heap, Turning over of Cotton ▇▇▇▇▇, coverage of Kapas, seed, ▇▇▇▇▇ by tarpaulins.

  • The Parent shall use the proceeds of the Loans solely for the purpose of paying costs and expenses incurred in connection with the Demutualization and the Destacking (including reimbursing PLIC for costs and expenses incurred by it for those purposes) and then only to the extent, if any, that the net proceeds it has received substantially concurrently with or prior to the date of the Borrowing in question from public offerings of its equity securities are insufficient to fund the same.

Related to Destacking

  • Stacking (or “Stackable”) means the application of more than one of the same Subscription to account for additional capacity.

  • Hacking means unauthorised access to any computer or other equipment or component or system or item which processes, stores, transmits or retrieves data.

  • Rotogravure coating means the application of a coating material to a substrate by means of a roll coating technique in which the pattern to be applied is recessed relative to the non-image area, and the coating material is picked up in these recessed areas and is transferred to the substrate.

  • Compatibility means a condition in which land uses or conditions can coexist in relative proximity to each other in a stable fashion over time such that no use or condition is unduly negatively impacted directly or indirectly by another use or condition.

  • Fabrication means intentional and unauthorized falsification or invention of any information or citation.