Capital and Surplus. MetLife agrees that it shall cause Beneficiary to have ------------------- at all times during the term of this Agreement the greater of: (a) A capital and surplus of $10 million; or (b) the amount of capital and surplus as shall be necessary to maintain a total adjusted capital of Beneficiary at a level not less than 150% of the company action level RBC of Beneficiary. For purposes of this Paragraph 1, "total adjusted capital" and "company action level RBC" shall be as defined in the Risk-Based Capital (RBC) for Insurers Model Act adopted by the National Association of Insurance Commissioners."
Appears in 3 contracts
Samples: Selling Agreement (First Metlife Investors Variable Annuity Account One), Net Worth Maintenance Agreement (Metlife Investors Variable Annuity Account Five), Net Worth Maintenance Agreement (Metlife Investors Variable Annuity Account One)
Capital and Surplus. MetLife agrees that it shall cause Beneficiary to have ------------------- at all times during the term of this Agreement the greater of:
(a) A capital and surplus of $10 million; or
(b) the amount of capital capita] and surplus as shall be necessary to maintain a total adjusted capital of Beneficiary at a level not less than 150% of the company action level RBC of Beneficiary. For purposes of this Paragraph 1, "total adjusted capital" and "company action level RBC" shall be as defined in the Risk-Based Capital (RBC) for Insurers Model Act adopted by the National Association of Insurance Commissioners."
Appears in 1 contract
Samples: Net Worth Maintenance Agreement (First Metlife Investors Variable Annuity Account One)
