Minimum Statutory Surplus. Not permit the U.S. Insurance Subsidiaries (on an aggregate basis) to have a Statutory Surplus as of the last day of any Fiscal Month (beginning with the Fiscal Month ending November 30, 2019) of less than the greater of (i) $100,000,000, and (ii) the aggregate Statutory Surplus which the U.S. Insurance Subsidiaries are required to have or maintain, or have otherwise agreed to have or maintain, pursuant to the requirements of any Insurance Regulatory Authority or any instrument, Guarantee or other agreement applicable to the U.S. Insurance Subsidiaries (whether or not any such U.S. Insurance Subsidiary is a party thereto).
Minimum Statutory Surplus. At all times after the Effective Date, the Borrower shall cause American Equity Life to maintain a Statutory Surplus in an amount equal to the sum of (i) 80% of the Statutory Surplus of American Equity Life the last day of the Fiscal Quarter ended most recently prior to the Effective Date, plus (ii) 50% of the statutory net income (positive) of American Equity Life for each Fiscal Quarter ending after the Effective Date, plus (iii) 50% of all capital contributed to American Equity Life following the Fiscal Quarter-end immediately preceding the Effective Date.
Minimum Statutory Surplus. Cause the statutory surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30, 2011, to not be less than $1,875,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2010 and ending on the date of calculation, as determined in each case in accordance with SAP (provided that Net Income for any period shall be taken into account for purposes of this calculation only if positive), plus 25% of the aggregate capital contributions made to Everest Re after December 31, 2010.
Minimum Statutory Surplus. Permit the Statutory Surplus to be less than $1,000,000,000.
Minimum Statutory Surplus. The Borrower will cause the Significant Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than $400,000,000.
Minimum Statutory Surplus. The Borrower will at all times cause the Significant Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than the sum of (a) $106,883,000, plus (b) 50% of the positive aggregate Statutory Net Income if any, earned by the Significant Insurance Subsidiaries in each Fiscal Quarter beginning with the Fiscal Quarter ended September 30, 1998, plus (c) 75% of the Net Available Proceeds of any equity issuance (including any capital contribution to surplus of any Significant Insurance Subsidiary in respect of which no additional shares are issued) by any Significant Insurance Subsidiary after the Closing Date.
Minimum Statutory Surplus. The Borrower will at all times cause Navigators Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than $699,446,719.
Minimum Statutory Surplus. Permit Statutory Surplus at any time to be less than $5,200,000,000.
Minimum Statutory Surplus. As of September 30, 2011 and the end of each fiscal quarter thereafter, the Borrower shall not permit the Borrower Statutory Surplus to be less than an amount equal to the sum of (i) seventy percent (70%) of $4,910,958,827.00, plus (ii) fifty percent (50%) of Borrower Statutory Net Income on a cumulative basis for the fiscal quarter ended December 31, 2011 and for each succeeding fiscal quarter thereafter.
Minimum Statutory Surplus. Permit the Statutory Surplus of any Material Insurance Subsidiary as of the end of any fiscal quarter to be less than the amount set forth opposite such Material Insurance Subsidiary’s name on Schedule 7.10, as such Schedule is amended pursuant to any Compliance Certificate in connection with the addition of a new Material Insurance Subsidiary. If a Subsidiary becomes a Material Insurance Subsidiary after the Closing Date, the minimum Statutory Surplus for such new Material Insurance Subsidiary shall be an amount equal to 75% of such Subsidiary’s Statutory Surplus as of the fiscal quarter end in which it became a Material Insurance Subsidiary.
