Common use of Attachment Point Clause in Contracts

Attachment Point. If the Ceding Insurer does not elect a Variable Reset, the Reset Agent will provide (a) an updated Attachment Point (“Updated Attachment Point”) to the nearest one million dollars such that the modeled projected exceedance probability is the highest percentage equal to or less than the Initial Modeled Projected Attachment Probability, (b) an updated Exhaustion Point (“Updated Exhaustion Point”) to the nearest one million dollars such that the modeled projected expected loss is the highest percentage equal to or less than the Initial Modeled Projected Expected Loss for the Layer for such Annual Risk Period and (c) an updated Insurance Percentage (“Updated Insurance Percentage”) equal to the Outstanding Principal Amount on the Payment Date immediately preceding the Reset Date divided by the Layer for such Annual Risk Period, provided, that such percentage will not be greater than 100%. If the Ceding Insurer elects a Variable Reset, the Reset Agent will provide (a) an updated ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ designated by the Ceding Insurer and the modeled projected attachment probability, which shall be an amount equal to or less than the Max Modeled Projected Attachment Probability for such Annual Risk Period, (b) an updated Exhaustion Point designated by the Ceding Insurer and the modeled projected expected loss, which shall be an amount equal to or less than the Max Modeled Projected Expected Loss for the applicable Layer and such Annual Risk Period and (c) an updated Insurance Percentage equal to the Outstanding Principal Amount on the Payment Date immediately preceding the Reset Date divided by the Layer for such Annual Risk Period, provided, that such percentage will not be greater than 100%.

Attachment Point. If the Ceding Insurer does not elect a Variable Reset, the Reset Agent will provide (a) an updated Attachment Point (“Updated Attachment Point”) to the nearest one million dollars such that the modeled projected exceedance probability is the highest percentage equal to or less than the Initial Modeled Projected Attachment Probability, (b) an updated Exhaustion Point (“Updated Exhaustion Point”) to the nearest one million dollars such that the modeled projected expected loss is the highest percentage equal to or less than the Initial Modeled Projected Expected Loss for the Layer for such Annual Risk Period and (c) an updated Insurance Percentage (“Updated Insurance Percentage”) equal to the Outstanding Principal Amount on the Payment Date immediately preceding the Reset Date divided by the Layer for such Annual Risk Period, provided, that such percentage will not be greater than 100%. If the Ceding Insurer elects a Variable Reset, the Reset Agent will provide (a) an updated ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attachment Point designated by the Ceding Insurer and the modeled projected attachment probability, which shall be an amount equal to or less than the Max Modeled Projected Attachment Probability for such Annual Risk Period, (b) an updated Exhaustion Point designated by the Ceding Insurer and the modeled projected expected loss, which shall be an amount equal to or less than the Max Modeled Projected Expected Loss for the applicable Layer and such Annual Risk Period and (c) an updated Insurance Percentage equal to the Outstanding Principal Amount on the Payment Date immediately preceding the Reset Date divided by the Layer for such Annual Risk Period, provided, that such percentage will not be greater than 100%.