Combined Statutory Surplus Sample Clauses

Combined Statutory Surplus. The Borrower shall not permit the Combined Statutory Surplus at any time to be less than $434,798,000.
Sample 1
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Combined Statutory Surplus. Add Lines 1(a) through 1(h)4 $___________ Eliminations (detail):
Sample 1
Combined Statutory Surplus. The Combined Statutory Capital and Surplus of the Insurance Subsidiaries, as of the last day of any fiscal quarter beginning with the fiscal quarter ending March 31, 1999, shall not be less than $335,422, plus 50% of the aggregate increases in the stated capital and additional paid-in capital accounts of the Insurance Subsidiaries (without duplication) occurring after December 31, 1998, as determined in each case in accordance with SAP.
Sample 1
Combined Statutory Surplus. The Borrower will cause its Insurance Company Subsidiaries to maintain at all times an aggregate Statutory Surplus (on a combined basis without duplication) of not less than $200,000,000.
Sample 1
Combined Statutory Surplus. The Borrower will not permit the Combined Statutory Capital and Surplus of the Insurance Subsidiaries, as of the last day of any fiscal quarter beginning with the fiscal quarter ending March 31, 1999, to be less than 75% of Combined Statutory Capital and Surplus as of December 31, 1998 plus 50% of the aggregate increases in the stated capital and additional paid-in capital accounts of the Insurance Subsidiaries (without duplication) occurring after December 31, 1998, as determined in each case in accordance with SAP.
Sample 1
Combined Statutory Surplus. The Company will not permit Combined Statutory Surplus at any time to be less than $26,000,000,000.
Sample 1
Combined Statutory Surplus of the Credit Agreement is hereby amended by (a) deleting the reference to "$650,000,000" and replacing it with "$600,000,000" (b) deleting the reference to "December 31, 1998" and replacing it with "December 31, 1999".
Sample 1
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Combined Statutory Surplus. The Borrower will cause its Insurance Company Subsidiaries to maintain a Combined Statutory Surplus which (i) at any time from and including the Closing Date through and including December 30, 1998, is not less than $250,518,000, and (ii) at any time thereafter, is not less than the greater of (x) seventy-five percent (75%) of the actual Combined Statutory Surplus as of the most recent December 31, or (y) the Combined Statutory Surplus required to be maintained under this Section 8.1 during the twelve-month period immediately preceding the most recent December 31.
Sample 1
Combined Statutory Surplus. The Borrower will not permit Combined Statutory Surplus, at any time from and after the Closing Date, to be less than (i) $650,000,000 plus (ii) 30% of the aggregate of Combined Statutory Net Income for each fiscal year ending on or after December 31, 1998 up to and including the date of determination (provided that Combined Statutory Net Income for any such fiscal year shall be taken into account for purposes of this calculation only if positive).
Sample 1

Related to Combined Statutory Surplus

  • STAFF SURPLUS 26.1 When as a result of the substantial restructuring of the whole, or any parts, of the employer's operations; either due to the reorganisation, review of work method, change in plant (or like cause), the employer requires a reduction in the number of employees, or, employees can no longer be employed in their current position, at their current grade or work location (i.e. the terms of appointment to their present position), then the options in sub clause 26.5 below shall be invoked and decided on a case by case basis by the employer having due regard to the circumstances of the affected employee. 26.2 Where an employee's employment is being terminated by the employer by reason of the sale or transfer of the whole or part of the employer's business, nothing in this Agreement shall require the employer to pay compensation for redundancy to the employee if: 26.2.1 The person acquiring the business or the part being sold or transferred a) Has offered the employee employment in the business or the part being sold or transferred; and b) Has agreed to treat service with the employer as if it were service with that person and as if it were continuous; and the conditions of employment offered to the employee by the person acquiring the business or the part of the business being sold or transferred are the same as, or are no less favourable than, the employee's conditions of employment, including: a) Any service related conditions; and b) Any conditions relating to redundancy; and c) Any conditions relating to superannuation Under the employment being terminated; and The offer of employment by the person acquiring the business or the part of the business being sold or transferred is an offer to employ the employee in that business or part of the business either: a) In the same capacity as that in which the employee was employed by the Employer; or b) In any capacity that the employee is willing to accept.

  • Distributions of Available Cash From Operating Surplus Available Cash that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or Section 6.5 shall be distributed as follows, except as otherwise contemplated by Section 5.6(b) in respect of additional Partnership Interests issued pursuant thereto (including pursuant to Article V with respect to the Preferred Units): (a) First, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the Minimum Quarterly Distribution for such Quarter; (b) Second, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the First Target Distribution over the Minimum Quarterly Distribution for such Quarter; (c) Third, (i) to the General Partner in accordance with its Percentage Interest; (ii) 13% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (c), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Second Target Distribution over the First Target Distribution for such Quarter; (d) Fourth, (i) to the General Partner in accordance with its Percentage Interest; (ii) 23% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (d), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Third Target Distribution over the Second Target Distribution for such Quarter; and (e) Thereafter, (i) to the General Partner in accordance with its Percentage Interest; (ii) 48% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (e); provided, however, if the Minimum Quarterly Distribution, the First Target Distribution, the Second Target Distribution and the Third Target Distribution have been reduced to zero pursuant to the second sentence of Section 6.6(a), the distribution of Available Cash that is deemed to be Operating Surplus with respect to any Quarter will be made solely in accordance with Section 6.4(e).

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Capitalization Ratio Permit the ratio of Consolidated Debt of the Borrower to Consolidated Capital of the Borrower to exceed .58 to 1.00.

  • Minimum Consolidated Fixed Charge Coverage Ratio The Consolidated Fixed Charge Coverage Ratio shall not be less than 1.50 to 1.00, determined based on information for the most recent fiscal quarter annualized.

  • In the Event of Forecasted Surpluses If the HSP is forecasting a surplus, the Funder may take one or more of the following actions: adjust the amount of Funding to be paid under Schedule A, require the repayment of excess Funding; adjust the amount of any future funding installments accordingly.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.00.

  • Current Ratio The Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under FAS 133) to (ii) consolidated current liabilities (excluding non-cash obligations under FAS 133 and current maturities under this Agreement) to be less than 1.0 to 1.0.

  • Debt to Capitalization Ratio As of the last day of each fiscal quarter of the Borrower, the Debt to Capitalization Ratio shall be less than or equal to 0.70 to 1.0.

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