Common use of Monthly Reserve Adjustment Clause in Contracts

Monthly Reserve Adjustment. The “Monthly Reserve Adjustment” for any month shall be an amount equal to the Separate Account Reserves at the end of such month, minus (i) the amount transferred from the Company’s general account to the Separate Accounts for the Policies and Post-Closing Policies during such month; (ii) the amount transferred from the Separate Accounts to the general account for the Policies and Post-Closing Policies during such month, excluding policy charges and fees deducted from the Separate Accounts for the Policies and Post-Closing Policies; minus (iii) the amount equal to the Separate Account Reserves at the end of the month preceding such calendar month; (iv) the amount equal to the sum of all earned investment income and capital gains and losses, realized and unrealized, with respect to the Policies and Post-Closing Policies in the Separate Accounts during such calendar month. On a monthly basis, commencing with the month in which the Closing occurs, an amount equal to the Monthly Reserve Adjustment will be shown as a credit to the Reinsurer on the Accountings required by Sections 3.5 and 3.6 below, if the foregoing formula yields a negative amount, or as a credit to the Company on such Accountings, if the foregoing formula yields a positive amount. The Monthly Reserve Adjustment shall be calculated on a pre-tax basis.

Monthly Reserve Adjustment. The “"Monthly Reserve Adjustment” " for any month shall be an amount equal to the Separate Account Reserves at the end of such month, minus (i) the amount transferred from the Company’s 's general account to the Separate Accounts for the Policies and Post-Closing Policies during such month; plus (ii) the amount transferred from the Separate Accounts to the general account for the Policies and Post-Closing Policies during such month, excluding policy charges and fees deducted from the Separate Accounts for the Policies and Post-Closing Policies; minus (iii) the amount equal to the Separate Account Reserves at the end of the month preceding such calendar month; minus (iv) the amount equal to the sum of all earned investment income and capital gains and losses, realized and unrealized, with respect to the Policies and Post-Closing Policies in the Separate Accounts during such calendar month. On a monthly basis, commencing with the month in which the Closing occurs, an amount equal to the Monthly Reserve Adjustment will be shown as a credit to the Reinsurer on the Accountings required by Sections 3.5 and 3.6 below, if the foregoing formula yields a negative amount, or as a credit to the Company on such Accountings, if the foregoing formula yields a positive amount. The Monthly Reserve Adjustment shall be calculated on a pre-tax basis.

Monthly Reserve Adjustment. The “"Monthly Reserve Adjustment” " for any month shall be an amount equal to the Separate Account Reserves at the end of such month, minus (i) the amount transferred from the Company’s 's general account to the Separate Accounts for the Policies and Post-Closing Policies during such month; (ii) the amount transferred from the Separate Accounts to the general account for the Policies and Post-Closing Policies during such month, excluding policy charges and fees deducted from the Separate Accounts for the Policies and Post-Closing Policies; minus (iii) the amount equal to the Separate Account Reserves at the end of the month preceding such calendar month; (iv) the amount equal to the sum of all earned investment income and capital gains and losses, realized and unrealized, with respect to the Policies and Post-Closing Policies in the Separate Accounts during such calendar month. On a monthly basis, commencing with the month in which the Closing occurs, an amount equal to the Monthly Reserve Adjustment will be shown as a credit to the Reinsurer on the Accountings required by Sections 3.5 and 3.6 below, if the foregoing formula yields a negative amount, or as a credit to the Company on such Accountings, if the foregoing formula yields a positive amount. The Monthly Reserve Adjustment shall be calculated on a pre-tax basis.

Monthly Reserve Adjustment. The “Monthly Reserve Adjustment” for any month shall be an amount equal to the Separate Account Reserves at the end of such month, minus (i) the amount transferred from the Company’s general account to the Separate Accounts for the Policies and Post-Closing Policies during such month; plus (ii) the amount transferred from the Separate Accounts to the general account for the Policies and Post-Closing Policies during such month, excluding policy charges and fees deducted from the Separate Accounts for the Policies and Post-Closing Policies; minus (iii) the amount equal to the Separate Account Reserves at the end of the month preceding such calendar month; minus (iv) the amount equal to the sum of all earned investment income and capital gains and losses, realized and unrealized, with respect to the Policies and Post-Closing Policies in the Separate Accounts during such calendar month. On a monthly basis, commencing with the month in which the Closing occurs, an amount equal to the Monthly Reserve Adjustment will be shown as a credit to the Reinsurer on the Accountings required by Sections 3.5 and 3.6 below, if the foregoing formula yields a negative amount, or as a credit to the Company on such Accountings, if the foregoing formula yields a positive amount. The Monthly Reserve Adjustment shall be calculated on a pre-tax basis.