Qualifying Catastrophic Event. Means (a) with respect to a single Event, any single Event taking place during an Agreement Year from which HM incurs an Ultimate Loss in an amount greater than the Attachment Point, or (b) with respect to multiple Events taking place during an Agreement Year, multiple Events from which HM incurs an Ultimate Loss in the aggregate from such Events in an amount greater than the Attachment Point. A single Event that takes place during the Exposure Period but which has not developed into a
... Qualifying Catastrophic Event prior to the first anniversary of such Event shall not constitute a Qualifying Catastrophic Event for purposes of this Agreement. A single Event that takes place 4 during the Exposure Period and which develops into a Qualifying Catastrophic Event prior to the first anniversary of such Event, but after expiration of the Exposure Period, shall constitute a Qualifying Catastrophic Event for purposes of this Agreement. Multiple Events that have taken place during any Agreement Year within the Exposure Period but which have not developed into a Qualifying Catastrophic Event prior to the end of six (6) months after the end of such Agreement Year shall not constitute a Qualifying Catastrophic Event for purposes of this Agreement. Multiple Events that have taken place during any Agreement Year within the Exposure Period and which develop into a Qualifying Catastrophic Event prior to the end of six (6) months after the end of such Agreement Year shall constitute a Qualifying Catastrophic Event for purposes of this Agreement.
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Qualifying Catastrophic Event. Means (a) with respect to any single Event, an Event occurring during the Exposure Period pursuant to which the Company Subsidiaries incur an Ultimate Loss in excess of US$140,000,000 (the "Single Event Attachment Point"), or (b) with respect to any series of Events during the Exposure Period, a series of Events that, when considered in the aggregate, cause the Company Subsidiaries to incur an Ultimate Loss in excess of US$220,000,000 (the "Multiple Event Attachment
... Point"). Any Qualifying Catastrophic Event that commences during the Exposure Period, whether or not it terminates within the Exposure Period, shall be deemed to have occurred within the Exposure Period. A single Event that has occurred during the Exposure Period but which has not developed into a Qualifying Catastrophic Event prior to the first anniversary of the Event (or eighteen (18) months following the date of the Event if the Event is other than a windstorm) shall not constitute a Qualifying Catastrophic Event for purposes of this Agreement. A single Event 3 that has occurred during the Exposure Period and which develops into a Qualifying Catastrophic Event prior to the first anniversary of the Event (or eighteen (18) months following the date of the Event if the Event is other than a windstorm), but after expiration of the Exposure Period (as the same may be extended), shall constitute a Qualifying Catastrophic Event for purposes of this Agreement. With respect to a single Event which develops into a Qualifying Catastrophic Event, such Qualifying Catastrophic Event shall be deemed to have occurred as of the date such single Event occurred. A series of Events that has occurred during the Exposure Period but which has not developed into a Qualifying Catastrophic Event prior to the end of one (1) year following the end of such Exposure Period shall not constitute a Qualifying Catastrophic Event for purposes of this Agreement. A series of Events that has occurred during the Exposure Period and which develops into a Qualifying Catastrophic Event prior to the end of one (1) year following the end of such Exposure Period, but after expiration of the Exposure Period, shall constitute a Qualifying Catastrophic Event for purposes of this Agreement. With respect to a series of Events which develops into a Qualifying Catastrophic Event, such Qualifying Catastrophic Event shall be deemed to have occurred during the Exposure Period in which such series of Events occurred.
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