Quantitative Factors. The company shall satisfy the definition of “Energy Company” in the Everen Limited Eligibility Requirements (Exhibit B to the Shareholders’ Agreement). • The company shall have Unmodified Gross Assets of not less than one billion dollars ($1,000,000,000). Deeming Unmodified Gross Assets to one billion dollars ($1,000,000,000) is not permitted. • If rated, the applicants shall have a minimum credit rating of S&P BBB- or Xxxxx’x Baa3. Applicants with ratings below these levels are not eligible for membership. • Applicants without an S&P or Xxxxx’x rating have 2 options: ⮚ Pass 4 of 6 internal financial ratio tests and post collateral acceptable to Xxxxxx ⮚ Obtain a shadow investment-grade rating • Applicants shall have an acceptable ten (10) year loss history, attested to by an officer of the company. • The company shall access Everen directly (i.e. without the intervention of a state-owned or other third-party insurance company). • Companies headquartered in countries that are (1) categorized as “emerging market economies” (as defined in the MSCI EMI) or (2) deemed to be below emerging market economy status shall not represent more than 10% of the total Standard Weighted Gross Assets of all Assureds. • The company shall submit annually, prepared to Xxxxxx’s satisfaction, a report of Unmodified Gross Assets and Named Windstorm Unmodified Gross Assets subject to all the requirements of Section IV of the Rating & Premium Plan. • The company shall submit annually, prepared to Xxxxxx’s satisfaction, a declaration (the “Sanctionable Activity Gross Asset Declaration”) of the gross value of property to be excluded from Unmodified Gross Assets pursuant to paragraph IV.C(3) of the Rating & Premium Plan (including zero (0) gross value, if applicable) broken down by Sector and country. The Sanctionable Activity Gross Asset Declaration shall be certified by an officer of the company, • If the company is government-owned it must either
(1) have substantial energy investments and operations (other than carried interests or the equivalent) in association with other energy companies or
(2) have substantial energy investments and operations in situations where it operates outside its own national borders or
(3) if agreed by Xxxxxx, has securities listed and actively traded on leading securities exchanges outside its national borders in its own name. • All of the company’s energy operations shall be covered by Xxxxxx unless otherwise agreed by Xxxxxx. • Xxxxxx may impose othe...
Quantitative Factors. At least 90% of the College Supervision Budget will be allocated to departments/divisions based on the quantitative factors of Fall-45th FTSE (for Library and Counseling Faculty supervision) and Fall/Spring instructional load (for Instructional Faculty Supervision).
