Replacement Calculation Agent definition
Examples of Replacement Calculation Agent in a sentence
Such notice shall be substantially in the form attached hereto as Exhibit J (“Ceding Insurer Replacement Calculation Agent Notice”).
In the case of (ii) above, the Reinsurer shall be obligated to continue to use its reasonable best efforts, in cooperation with the Ceding Insurer, to engage a Replacement Calculation Agent.
The Reinsurer shall promptly notify the Ceding Insurer of such Calculation Agent Failure Event and of the proposed Replacement Calculation Agent, if any.
The Company shall promptly notify the Trustee in writing if a Replacement Calculation Agent is appointed.
If at any time that the Replacement Calculation Agent is the Calculation Agent hereunder, the Replacement Calculation Agent resigns such responsibilities, a successor Replacement Calculation Agent shall be appointed jointly by the Company Consulting Bank and Holder Consulting Bank.
If the parties cannot agree on a Replacement Calculation Agent, then each party shall, by the close of business on the New York Business Day following Party B’s initial request, select a Leading Independent Dealer, which in turn shall select a third Leading Independent Dealer to be the Replacement Calculation Agent.
The reasonable costs of employing the Replacement Calculation Agent shall be borne equally by both parties.
In the event that only one party selects a Leading Independent Dealer, such Leading Independent Dealer shall act as the Replacement Calculation Agent.
In the event a Replacement Calculation Agent is appointed in accordance with the terms of this Section 14.12(C), The Company shall enter into such documentation as reasonably necessary, including any supplemental indentures, to facilitate the Replacement Calculation Agent becoming the Calculation Agent hereunder.