Reinsurer Concentration. The aggregate amount of risk retention for catastrophic excess reinsurance provided for payment of claims on policies purchased by the Credit Parties and their Subsidiaries provided by any individual (or affiliated) Qualifying Reinsurer(s) (other than the Florida Hurricane Catastrophe Fund) or individual (or affiliated) Non-Qualifying Reinsurer(s) exceeds fifteen percent (15.0%) of the aggregate of all such risk retention provided by all Qualifying Reinsurers and Non-Qualifying Reinsurers; provided that, # for purposes of determining whether an Event of Default exists under this clause (o), reinsurance provided by Non-Qualifying Reinsurers shall not be included in the calculation of the foregoing percentage of aggregate risk retention to the extent that the aggregate amount of reinsurance provided by Non-Qualifying Reinsurers exceeds fifteen percent (15.0%) of the aggregate amount of all reinsurance maintained by, or for the benefit of, the Insurance Affiliates whose surpluses are available for payment of claims on policies issued by the Credit Parties and their Subsidiaries, and # no Event of Default shall arise under this clause (o) to the extent solely arising from the merger, after the Effective Date but prior to renewal of the applicable agreement(s), of any Qualifying Reinsurer or Non-Qualifying Reinsurer into any other Qualifying Reinsurer or Non-Qualifying Reinsurer, so long as no party to any such merger is an Affiliate of any Credit Party.