Loeb Trigger Event

Loeb Trigger Event. Means (i) a change in Law or (ii) a request by A.M. Best & Company, pursuant to which TP Re is required, (in the case of (ii), in order for TP Re to maintain a financial strength rating of A-), to withdraw assets from the Managed Account so that, following such withdrawal, the assets of TP Re managed by Third Point LLC pursuant to the Joint Venture and Investment Management Agreement constitute less than 90% of the total assets of TP Re.