Portfolio Pricing Model definition
Portfolio Pricing Model means the latest version of the portfolio pricing model developed by ▇▇▇▇▇▇▇▇. Inc. and licensed by Borrower, which model shall calculate the Net Asset Present Value or using the mortality probabilities set forth in the mortality tables provided with the Life Expectancy Reports or the VBT Select Table.
Portfolio Pricing Model means the latest version of the portfolio pricing model developed by ▇▇▇▇▇▇▇▇, Inc. and licensed by Borrower, which model shall calculate the Net Asset Present Value or using the mortality probabilities set forth in the mortality tables provided with the Life Expectancy Reports or the VBT Select Table. “Premium” means, with respect to any Insurance Policy, as indicated by the context, any premium paid with respect thereto, or any scheduled premium, determined and projected in the Policy Illustration, which may be optimized for minimum annual or lesser periods of premium payments and which may be further adjusted to reflect mortality probabilities using the mortality tables provided with the Life Expectancy Reports, Pricing Model or using the VBT Select Table. 11 “Pricing Model” means the latest version of the pricing model developed by ▇▇▇▇▇▇▇▇, Inc. and licensed by Borrower, which model shall calculate the Policy IRR or using the mortality probabilities set forth in the mortality tables provided with the Life Expectancy Reports or the VBT Select Table. “Principal Amount” means for any Promissory Note, the principal balance owing to the Lender. “Promissory Note” has the meaning set forth in Section 2.5. “Purchase and Sale Agreements” means the DZ Bank Credit and Security Agreement and any credit agreement with a future Liquidity Provider entered into by Borrower or its Subsidiaries, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents. “Purchase Date” means the date the Purchasers purchase any Eligible Life Insurance Policies under the Transaction Documents. “Purchase Price” means the total acquisition cost of any Eligible Life Insurance Policies constituting Collateral under the Transaction Documents. “Purchasers” means Master Trusts or the Borrower, as the case may be. “Qualified Consulting Physician” means (a) 21st Services; (b) ▇▇▇▇▇▇; (c) AVS; (d) EMSI; (e) ISC; and (e) any other independent third-party consulting physician or group of consulting physicians approved by the Borrower. “Rating Agency” means each of S&P and ▇▇▇▇▇’▇. “Regulatory Change” means, relative to any Affected Party: (a) any change in (or the adoption, implementation, change in the phase-in or commencement of effectiveness of) any: (i) United States Federal or state law or foreign law applicable to such Affected Party, (ii) regulation, interpretation, directive, requirement or request (whether or not having th...