PGA Notes definition
PGA Notes means the Short-Term PGA Notes, the Long-Term PGA Notes and the Long-Term Contingent Coverage PGA Notes of the PGAs, and the Contingent Funding PGA Note of LICGCNY, in the forms of Exhibits 1.66(a), 1.66(b), 1.66(b-1) and 1.66(c), respectively, that may be transferred to NEWCO to fund some portion of a PGA’s PGA Aggregate Contribution.
Examples of PGA Notes in a sentence
At Closing, pursuant to their statutory obligations to Covered Persons, each PGA shall transfer to NEWCO an aggregate amount of cash and PGA Notes, equal to the PGA Aggregate Contribution (determined in accordance with this Article 5) for all of the Covered Contracts of that PGA.
This Agreement may be amended only in writing executed by all of the parties hereto; provided, however, as to the GA Parties, amendments shall be approved in accordance with the procedures set forth in Section 15.1. No amendment to the Reinsurance and Participation Agreement or the PGA Notes may be made that could adversely affect NEWCO without the prior written consent of the Receiver.