MSRE definition
Examples of MSRE in a sentence
Seller shall have closed on the sale of the Common Shares to MSRE and MSAM, as agent and attorney-in-fact on behalf of the MSAM Purchasers, pursuant o the MSAM Purchase Agreement whereby Seller shall have received an aggregate purchase price of at least $12,500,00 from such purchasers from the issuance and sale of its Common Shares.
If MSRE and MSAM, as agent and attorney-in-fact on behalf of certain clients, do not purchase additional Common Shares of Seller for an aggregate purchase price of at least $4,500,000 within seven days of the Closing Date, Seller shall rescind the sale of Shares hereunder and promptly repay to the Investor the full purchase price for the Shares purchased hereby.
In addition to the Termination Events specified in Article 2(D), PRe may also terminate this Agreement at any time, by giving advance written notice to MSRE, in the event that MSRE ceases to underwrite the Business Covered and/or adjust claims as regards the Original Policy risks pursuant to this Agreement that results in significant loss or exposure to PRe.
At all times, MSRE will avoid circumstances and/or actions that could lead to XOPL or ECO claims.
Wherever the word “dollar” and/or the “$” symbol appear in this Agreement or any Appendix hereto, they are to mean United States Dollars, unless agreed to in writing by the Parties, provided that any non-US dollar denominated MSRE Assumptions under this Agreement will follow the denomination of the currency used in any such applicable MSRE Assumptions.
MSRE will remit to PRe a percentage of the Ceded Net Written Premium equal to PRe’s participation percentage in each Original Policy, which percentage will be determined in accordance with Appendix A.
Accordingly, in every case to which this Agreement applies and in the MSRE Assumption specified herein, the intent of this Agreement is that PRe’s obligations will follow the underwriting fortunes and settlements of MSRE as related to MSRE’s participation in the Original Policies pursuant to the Cedent Reinsurance Agreements.
PRe is reinsuring, to the amount herein provided, and severally and not jointly with any other reinsurers of the Original Policy, the obligations of MSRE under the Original Policies pursuant to the Cedent Reinsurance Agreements.
PRe will be bound by MSRE’s determination as to the obligation(s) and liability(ies) of MSRE under any Original Policies.
MSRE will have the right to settle all Loss-related claims under the Original Policies.