Reallocation Event definition

Reallocation Event means an event which causes an Unfunded L/C Obligation to cease to exist without becoming a Funded L/C Obligation, including the termination of a Letter of Credit without being drawn upon.

Reallocation Event means any Acquisition during the Restricted Period of the stock of a Spinoff Party (other than a Disposition or an Issuance) that could reasonably be viewed as increasing the ownership shift with respect to such Spinoff Party for purposes of Section 355(e) of the Code, taking into account any available safe harbors under Treasury Regulations Section 1.355-7 (and the amount of such increase, the “Reallocation Event Reduction”). This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly by the Parties in good faith.

Reallocation Event means the acceleration of all or part of the Obligations.

Examples of Reallocation Event in a sentence

• Fund Reallocation Event Following the occurrence of a Fund Reallocation Event (as defined below), the Bank may, in its sole discretion, substitute units, shares or other securities of another mutual fund or investment fund or, for Reference Funds seeking to replicate an index, the relevant reference index to be replicated, if applicable, for the Reference Units as provided below.

• The underlying interest of Deposits linked to Funds will be subject to the adjustments provided hereunder.Fund Reallocation EventFollowing the occurrence of a Fund Reallocation Event (as defined below), the Bank may, in its sole discretion, substitute units, shares or other securities of another mutual fund or investment fund or, for Reference Funds seeking to replicate an index, the relevant reference index to be replicated, if applicable, for the Reference Units as provided below.

• To do this, the Bank will notionally sell or redeem Reference Units and reallocate the notional proceeds to: (i) a notional investment in the index tracked by the Reference Fund; or (ii) a notional subscription of units or shares of one or more mutual funds managed by the Reference Fund manager having similar investment objectives and strategies in order to replace the Reference Fund as a result of the occurrence of a Fund Reallocation Event.

• Such substitution or replacement shall occur within fourteen Reference Fund Business Days of the determination of the Calculation Agent that material Reallocation Event has occurred.

• If a Reallocation Event occurred, Current Exposure(t) is equal to Target Exposure(t-1).

More Definitions of Reallocation Event

Reallocation Event means, on Volatility Observation Date(t),

Reallocation Event has the meaning set forth in the Stockholders Agreement.

Reallocation Event means any event involving a reallocation of Och-Ziff Operating Group Units pursuant to the respective Och-Ziff Operating Group Agreements.

Reallocation Event has the meaning set forth in Section 4.2(b) hereof.

Reallocation Event means the occurrence of any event (as determined by the Administrative Agents acting in good faith) that results in the aggregate principal amount outstanding at such time of the Principal Property Secured Term Indebtedness being less than $900 million.

Reallocation Event will occur when the ratio (the "Gap Ratio") of (x) the difference between the value of the Dynamic Portfolio Index and the Bond Floor to (y) the value of the Dynamic Portfolio Index allocated to the Income 10 Buy-Write Index Portfolio is less than or greater than certain predetermined ratios. The calculation agent will determine whether a Reallocation Event has occurred at the beginning of each Index Business Day up to and including the fifth Index Business Day prior to the Stated Maturity Date. A Reallocation Event will be deemed to have occurred if the Gap Ratio is below 15% or above 25% at the close of business on the previous Index Business Day. For purposes of determining a Reallocation Event, the value of notional call options in the Income 10 Buy-Write Index will be determined using mid-market implied volatility. If the calculation agent determines that a Reallocation Event has occurred, the calculation agent will determine the Reallocation Percentage (as described below), or the percentage of the Dynamic Portfolio Index's value that must be allocated to the Income 10 Buy-Write Index Portfolio pursuant to the reallocation methodology. The Reallocation Percentage will be determined on the basis of values at the close of business on the previous Index Business Day. At the close of business on the Index Business Day on which a Reallocation Event has occurred, the calculation agent will reallocate the value of the Dynamic Portfolio Index. Reallocations will involve notional sales and purchases of Income 10 Buy-Write Index units and bond units. The number of Income 10 Buy-Write Index units to be notionally sold or purchased will be determined by the calculation agent at the beginning of each Index Business Day. However, those notional sales or purchases will be effected at the values (as determined by the calculation agent) of Income 10 Buy-Write Index units and bond units at the close of business on the date of reallocation. Any reallocation on the last day of any quarterly calculation period will be effected through the notional purchase or sale of Income 10 Buy-Write Index units at a price that includes the notional income on the Income 10 Buy-Write Index for that quarterly calculation period. Notional purchases of Income 10 Buy-Write Index units will be made at prices that reflect the value of notional call options determined using bid-side implied volatility and notional sales of

Reallocation Event means, with respect to any Determination Date (a) the Cumulative Net Loss Ratio as of the end of the related Collection Period exceeds 1.0% within the first 6 Collection Periods from the Closing Date, 2.25% within the 7th through 12th Collection Periods from the Closing Date, 3.25% within the 13th through 18th Collection Periods from the Closing Date, and 4.25% at any time after the 18th Collection Period following the Closing Date, or (b) a Servicer Default has occurred and is continuing. If a Reallocation Event occurs solely related to clause (a) above and is subsequently cured and remains below the related trigger levels for three consecutive Collection Periods, a Reallocation Event shall no longer exist.