As a result, the Authority issued a total of $112,177,124 in aggregate principal amount of 11% Senior Secured Notes due 2022 and $49,857,294 in aggregate principal amount of
Residual Claim Certificates in exchange for Existing Notes validly tendered by the Expiration Date and accepted by the Authority.
zero in the absence of insurance) and the value of the
residual claim on second-date cash flow, given state prices g(S).
In the case of Union Central, a
residual claim is initiated when an insured can perform some but not all of the substantial and material duties of their occupation and has a loss of income of at least 15%, or is unable to work in their occupation more than 80% of the time as was usual prior to the start of their claim.
79) He again admitted that "economists have recognised that
residual claim and control rights are two major components of ownership", but he still omitted the control right "by assuming that the control right is a derivative of the
residual claim".
Residual claim on income and Senior claim on income and assets
After five years, if the physician enters another occupation fitted for by education, training or experience, said Brokerage Solutions' Petsche, that person would move to a
residual claim in which a percentage of lost income would be paid.
Specifically, territorial guarantees increase the share of the
residual claim to the franchisee.
He will enter into what is known as a
residual claim and will collect a lesser monthly benefit based on the specific insurance carriers residual benefit calculation.
The incomplete-contracts view offers a clear interpretation of Knight's notion of guaranteeing: it is not so much that the residual claimant insures the other agents (although Knight did use this language); rather it is simply that, because of non-contractibility, the optimal arrangement is one in which some agents receive a
residual claim and others a fixed claim.
The European Commission has approved a plan by the Walloon Region to convert into equity a
residual claim of 43.
The proposal, which is principle rather than rules based, classifies as equity the most
residual claim on a company's net assets (typically common stock).
These conditions include a true securitization whereby the asset is sold to investors with no
residual claim or recourse to the city or county.
