Examples of Recapture Effective Date in a sentence
This Agreement shall be effective as of October 1, 2021 (the “Effective Date”) and shall remain in force hereunder until the earlier of (a) the date on which the Ceding Company’s liability for all Business Reinsured terminates; and (b) the Recapture Effective Date, provided that the Terminal Cash Settlement has been made.
In the event this Agreement is terminated in accordance with Section 13.01 or Section 23.02, the Ceding Company shall calculate a “Terminal Cash Settlement,” determined as of either the Recapture Effective Date or the termination effective date provided for in Section 23.02, as applicable, equal to {(1) - (2) + (3) – (4) + [(5) x (6) / (7)] + (8)}, where: Xxxxxxx Resolution Life Insurance Company and TR Re, Ltd.
The Ceding Company will also recapture all, and not less than all, of the reinsurance of the Covered Insurance Policies ceded under this Agreement if termination of this Agreement is awarded by an arbitration panel pursuant to Section 10.3(d); provided that the Recapture Effective Date for any such recapture shall be determined by the arbitration panel unless otherwise agreed between the Parties in writing.
The “Terminal Settlement” shall consist of (i) the Quarterly Net Settlement Amount for the Terminal Accounting Period, and (ii) the Embedded Value Payment with respect to the then in-force Covered Insurance Policies as of the Recapture Effective Date.
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If one or more shall be elected, the Assistant Secretary shall serve in the absence of the Secretary and shall have all the authority and duties vested in the Secretary.
Within thirteen (13) Business Days following the Recapture Effective Date, the Ceding Company shall deliver to the Reinsurer a final Quarterly Accounting Report, each as of the Recapture Effective Date (collectively, the “Terminal Accounting Report”), and the final Quarterly Settlement Amount and final Modco Adjustment set forth in such Terminal Accounting Report shall be paid in accordance with Section 7.03.
Notwithstanding the foregoing, but subject to Section 1.2 above, Sublandlord agrees that Subtenant shall be entitled to remove and/or reconfigure any Sublandlord FF&E which is located in the Recapture Space until the Recapture Effective Date, and if so removed, Subtenant shall be entitled to store the Sublandlord FF&E either within the Subleased Premises or at an offsite facility.
Such termination and vacation of the Subleased Premises shall occur no later than the Recapture Effective Date.
If the Distribution includes franking credits, McN Holders should also be required to include the franking credits in their assessable income.