C Profit Share Losses Sample Clauses

C Profit Share Losses. (a) In determining “C Profit Share Losses” hereunder, the amount of losses incurred under Reinsured Contracts shall be determined as follows: (i) for direct insurance or reinsurance written by the Company (other than Derivative Contracts) covering payment obligations on securities not owned by or on behalf of the Financing Vehicle(s), C Profit Share Losses (and case basis reserve practice) will be determined in accordance with GAAP, (ii) for direct insurance or reinsurance written by the Company (other than Derivative Contracts) covering payment obligations on securities owned by or on behalf of the Financing Vehicles including, without limitation, such securities being at one time owned by or on behalf of a Financing Vehicle listed in Schedule 4 (a “Repack Financing Vehicle”), C Profit Share Losses will be determined (a) upon the sale or exchange of the security from the Financing Vehicle (other than a sale to another Financing Vehicle or to an Affiliate of the Reinsurer), the amount of the C Profit Share Loss will be the difference between the par amount of the security and the price received upon the sale or exchange or (b) if there is no sale or exchange of the security or the security has been sold to another Financing Vehicle or to an Affiliate of the Reinsurer, upon a determination by the Reinsurer that the value of such security is permanently impaired, the amount of the C Profit Share Loss will be the difference between the par amount of the security and the determined value of the security based on such permanent impairment (including the net present value estimate of defaulted interest income), and (iii) for Derivative Contracts entered into by the Company, C Profit Share Losses will be recognized in accordance with GAAP (including market value losses of securities delivered against payment in settlement of such Derivative Contracts, as and when settled). Allocated Loss Adjustment Expenses for purposes of determining C Profit Share Losses shall consist of actual expenses incurred and liabilities expected to be incurred either with respect to Reinsurance Contracts or with respect to loss amounts determined under clauses (i) through (iii) of this Section 8.3(a) in accordance with GAAP. For purposes of clause (ii)(a) of this Section 8.3(a), the amount of any gains realized (i.e., the amount by which proceeds exceed the par amount) on the sale or exchange of securities shall be used to offset C Profit Share Losses, if any, to the extent of such gain...
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Related to C Profit Share Losses

  • Compensation for Losses Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:

  • Annual Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows:

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Net Loss After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows:

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Gross Income Allocations In the event any Partner has a deficit balance in its Capital Account at the end of any Partnership taxable period in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 6.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Capital Account as adjusted after all other allocations provided for in this Section 6.1 have been tentatively made as if this Section 6.1(d)(v) were not in this Agreement.

  • General Partner Gross Income Allocation After giving effect to the special allocations in paragraph 2 but prior to any allocations under subparagraphs 1(a) or 1(b), there shall be specially allocated to the General Partner an amount of (i) first, items of Partnership income and (ii) second, items of Partnership gain during each fiscal year or other applicable period in an amount equal to the excess, if any, of (A) the cumulative distributions made to the General Partner under Section 7.3(b) of the Agreement, other than distributions which would properly be treated as “guaranteed payments” or which are attributable to the reimbursement of expenses which would properly be either deductible by the Partnership or added to the tax basis of any Partnership asset, over (B) the cumulative allocations of Partnership income and gain to the General Partner under this subparagraph 1(c)(i).

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