Indicated ALAE Reserve Amount Sample Clauses

Indicated ALAE Reserve Amount. The Indicated ALAE Reserve Amount ----------------------------- will be the sum of (i) allocated loss adjustment expenses ("ALAE") paid after the Closing Date for losses occurring on or prior to the Closing Date with respect to the Subject Business, (ii) case ALAE reserves held as of the Settlement Date for losses occurring on or prior to the Closing Date with respect to the Subject Business and (iii) bulk and IBNR ALAE reserves held as of the Settlement Date for losses occurring on or prior to the Closing Date with respect to the Subject Business, less applicable third party reinsurance, salvage and subrogation recoveries received or receivable after the Closing Date and applicable to losses incurred on or prior to the Closing Date. The ALAE reserves for the Subject Business will be calculated in accordance with GAAP as in effect on the Closing Date consistently applied and generally accepted actuarial practices consistently applied.

Indicated ALAE Reserve Amount. The “Indicated ALAE Reserve Amount” as of each Applicable Settlement Date shall be an amount equal to (i) the sum of (x) allocated loss adjustment expenses (“ALAE”) paid from the Closing Date until the Applicable Settlement Date for losses occurring prior to the Closing Date with respect to the Subject Business, (y) case ALAE reserves held as of the Applicable Settlement Date for losses occurring prior to the Closing Date with respect to the Subject Business and (z) the bulk and IBNR ALAE reserves held as of the Applicable Settlement Date for losses occurring prior to the Closing Date with respect to the Subject Business, less (ii) applicable third party reinsurance, salvage and subrogation recoveries received or receivable after the Closing Date and applicable to losses incurred prior to the Closing Date with respect to the Subject Business; provided, however, that the Indicated ALAE Reserve Amount shall not include amounts for ALAE in respect of liabilities that are outside the express terms and conditions or limits of the Insurance Contracts included in the Subject Business or any amounts for ALAE paid or to be paid that constitute Extra Contractual Obligations or Excess of Policy Limits Liabilities. Subject to the proviso to the preceding sentence, the ALAE and IBNR ALAE reserves for the Subject Business will be calculated in accordance with GAAP as in effect on the Closing Date consistently applied and generally accepted actuarial practices consistently applied.