Reset. Using the Updated Projected Exposure Data as of the applicable Calculation Date, the Updated Stated Reinsurance, if any, the Updated Loss Adjustment Expense Factor, if any, and the Escrow Loss Probability Model (based on the Base Case analysis), the Reset Agent will reset (each, a “Reset”) effective as of the Reset Effective Date, the Attachment Point, Exhaustion Point, Risk Interest Spread, if applicable, and Insurance Percentage, using the following procedures. A Substitute Reset will also be deemed a Reset.
Appears in 2 contracts
Sources: Property Catastrophe Excess of Loss Reinsurance Agreement (Heritage Insurance Holdings, LLC), Property Catastrophe Excess of Loss Reinsurance Agreement (Heritage Insurance Holdings, LLC)