Common use of Loss Reserves Clause in Contracts

Loss Reserves. The Loss Reserves (as defined below) of the wholly-owned subsidiaries of GAINSCO that are insurance companies (the "GAINSCO Insurance Subsidiaries"), as set forth in the most recent unaudited consolidated balance sheet of GAINSCO (the "GAINSCO Balance Sheet"), net of reinsurance recoverables (other than intercompany reinsurance), are fairly stated in the GAINSCO Balance Sheet in accordance with generally accepted actuarial standards and principles. For the purpose of this Section 4.6, "Loss Reserves" means all reserves for all losses and loss adjustment expenses, including, without limitation, case reserves, reserves for loss adjustment expenses, both allocated and unallocated, reserves for incurred but not reported losses and loss adjustment expenses, and otherwise determined in accordance with those generally accepted actuarial standards and principles applied in determining such Loss Reserves reflected in the GAINSCO Balance Sheet.

Loss Reserves. The Loss Reserves (as defined below) of the wholly-owned subsidiaries of GAINSCO that are insurance companies (the "GAINSCO Insurance Subsidiaries"), as set forth in the most recent unaudited consolidated balance sheet of GAINSCO (the "GAINSCO Balance Sheet"), net of reinsurance recoverables (other than intercompany reinsurance), are fairly stated in the GAINSCO Balance Sheet in accordance with generally accepted actuarial standards and principles. For the purpose of this Section 4.66.6, "Loss Reserves" means all reserves for all losses and loss adjustment expenses, including, without limitation, case reserves, reserves for loss adjustment expenses, both allocated and unallocated, reserves for incurred but not reported losses and loss adjustment expenses, and otherwise determined in accordance with those generally accepted actuarial standards and principles applied in determining such Loss Reserves reflected in the GAINSCO Balance Sheet.

Loss Reserves. The Loss Reserves (as defined below) of the wholly-owned subsidiaries of GAINSCO that are insurance companies (the "GAINSCO Insurance Subsidiaries"), as set forth in the most recent unaudited consolidated balance sheet of GAINSCO (the "GAINSCO Balance Sheet"), net of reinsurance recoverables (other than intercompany reinsurance), are fairly stated in the GAINSCO Balance Sheet in accordance with generally accepted actuarial standards and principles. For the purpose of this Section 4.65.6, "Loss Reserves" means all reserves for all losses and loss adjustment expenses, including, without limitation, case reserves, reserves for loss adjustment expenses, both allocated and unallocated, reserves for incurred but not reported losses and loss adjustment expenses, and otherwise determined in accordance with those generally accepted actuarial standards and principles applied in determining such Loss Reserves reflected in the GAINSCO Balance Sheet.