Platinum Holdings definition

Platinum Holdings has the meaning given to such term in the introductory paragraph of this Agreement.
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Platinum Holdings has the meaning attributed to it in Recital A;
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Platinum Holdings refers solely to Platinum Underwriters Holdings, Ltd. Concurrent with the completion of this initial public offering, St. Xxxx will contribute to Platinum between $114 million and $119 million in cash, which we refer to as the "Cash Contribution." The St. Xxxx Companies, Inc. and its subsidiaries will also contribute to Platinum substantially all of their continuing reinsurance business and related assets, including all of the outstanding capital stock of Platinum US, referred to herein as the "Transferred Business", having a net tangible book value of approximately $11 million as of June 30, 2002. Reinsurance is an arrangement in which a reinsurance company indemnifies an insurer or other reinsurer, which is referred to as a "ceding company" or "cedent", against all or a portion of the insurance or reinsurance risks underwritten by the ceding company under one or more policies. "St. Xxxx" refers to The St. Xxxx Companies, Inc., which is sponsoring our formation, and, unless the context otherwise requires, its subsidiaries. "St. Xxxx Re" refers to the reinsurance segment of St. Xxxx xxxxx to this initial public offering, which includes the continuing business and related assets being transferred to Platinum upon completion of this initial public offering as well as the reinsurance business that will remain with St. Xxxx after this offering and not be renewed and will thereafter expire when claims are ultimately resolved, which is referred to as the "run-off". We intend to commence our property and casualty reinsurance business operations, whereby we indemnify insurers and other reinsurers against all or a portion of their insurance or reinsurance risks for property loss and related damage and negligence resulting in bodily injury or property damage, upon completion of this initial public offering of Common Shares, which we refer to as the "Public Offering". Concurrently with the completion of the Public Offering, St. Xxxx will make the Cash Contribution and contribute the Transferred Business to us in exchange for our issuance to St. Xxxx, on a private placement basis, of 6,000,000 Common Shares and a ten-year option, referred to as the "St. Xxxx Option", which will entitle St. Xxxx to buy from us up to 6,000,000 additional Common Shares at a price per share equal to 120% of the initial public offering price. St. Xxxx will own 15.0% of Platinum Holdings' outstanding Common Shares following the Public Offering, the St. Xxxx Investment and the RenaissanceRe ...
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Examples of Platinum Holdings in a sentence

  • The fees payable by Platinum Holdings to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between Platinum Holdings and such successor.

  • Platinum Holdings will depend on such payments to receive funds for general corporate purposes and to meet its obligations, including the payment of any dividends to its shareholders.

  • The Administrative Agent may at any time give notice of its resignation to the Lenders and Platinum Holdings.

  • Platinum Holdings is a holding company that will conduct no reinsurance operations of its own.

  • The rating assignment further contemplates the initiation of certain capital support agreements between Platinum Holdings and its operating subsidiaries.

  • In general investments made with respect to the Bermuda account will, in the case of securities issued by U.S. issuers, be limited to securities that are eligible for the " portfolio interest exemption"- i.e., essentially securities that are in registered form and not issued by a 10% or more shareholder of Platinum Holdings.

  • That it previously had filed a registration statement on Form F-6 (Impala Platinum Holdings Limited 333-101728) that the Commission declared effective, with terms of deposit identical to the terms of deposit of this registration statement.

  • All references in this description to "we", "us", "our" and the "Company" refer to Platinum Holdings unless the context otherwise requires.

  • The discussion does not address special classes of shareholders, such as shareholders that own directly, or indirectly through certain foreign entities or through the constructive ownership rules of the Code, 10% or more of the voting power or value of Platinum Holdings.

  • Except as disclosed on Schedule 5.7, each of Platinum Holdings and its Subsidiaries owns, free and clear of Liens, and has the unencumbered right to vote, all outstanding ownership interests in each Person shown to be held by it on Schedule 5.7.

Related to Platinum Holdings

  • Direct holdings means all publicly traded securities of a company that are held directly by the state treasurer or a retirement system in an actively managed account or fund in which the retirement system owns all shares or interests.

  • Holdings as defined in the preamble hereto.

  • Platinum means elemental platinum having an atomic weight of 195.09 and the chemical element symbol of Pt, whether found by itself or in combination with its alloys or any other metal.

  • OpCo has the meaning set forth in the Preamble.

  • Holdco has the meaning set forth in the Preamble.

  • mixed financial holding company means a mixed financial holding company as defined in point (21) of Article 4(1) of Regulation (EU) No 575/2013;

  • Minimum Holding means the minimum number or value of Shares which must be held by Shareholders as specified in the relevant Supplement.

  • CGS means the Connecticut General Statutes.

  • Intermediate Holding Company means any Subsidiary of Holdings (of which Holdings, directly or indirectly, owns 100% of the issued and outstanding Equity Interests) that, directly or indirectly, owns 100% of the issued and outstanding Equity Interests of the Lead Borrower.

  • Holdings LLC Agreement means the Amended and Restated Limited Liability Company Agreement of Holdings dated as of the Closing Date.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • New Holdings shall have the meaning provided in the definition of the term “Holdings”.

  • CFC Holding Company means any Domestic Subsidiary that owns no material assets (directly or indirectly) other than Equity Interests and debt of one or more CFCs or Domestic Subsidiaries that are themselves CFC Holding Companies.

  • MLP has the meaning given such term in the introduction to this Agreement.

  • BTCo means Bankers Trust Company, in its individual capacity, and any successor corporation thereto by merger, consolidation or otherwise.

  • Acquisition Subsidiary shall have the meaning set forth in the Preamble.

  • New Holding Company means a corporation that is not a bank, association, or national banking association and as to which all of the following apply:

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Foreign Holding Company means any Subsidiary all or substantially all of the assets of which are comprised of Equity Interests in one or more Foreign Subsidiaries or CFC Debt.

  • RSC means the Regional Security Coordinator(s) (RSC(s)) appointed for CCR Hansa, unless it is explicitly otherwise stated, according to Article 77(1)(a) of the SO Regulation that will perform the tasks allocated to this(these) RSC(s) according to Article 77(1)(c)(i) of the SO Regulation;

  • AcquisitionCo means Diebold Holding Germany Incorporated & Co. KGaA a German partnership limited by shares (Kommanditgesellschaft auf Aktien - KGaA) that is a Wholly Owned Restricted Subsidiary of the Company and whose general partner is the Company.

  • Insight as used in this clause, means technical visibility into the Program, maintained through audit, surveillance, assessment of trends and metrics, software independent verification and validation, the flight readiness review process, and review or independent assessment of out-of-family anomalies occurring in any phase of the program.

  • Bank Holding Company means a company registered as such with the Board of Governors of the Federal Reserve System pursuant to 12 U.S.C. §1842 and the regulations of the Board of Governors of the Federal Reserve System thereunder.

  • Subco means 1102209 B.C. LTD., a corporation incorporated under the laws of the Province of British Columbia;