Reserve Strengthening Sample Clauses

Reserve Strengthening. Any increase in reserves resulting from a reserve strengthening with respect to the annuities reinsured hereunder will be paid by the Ceding Company to the Reinsurer at the end of the Accounting Period during which the reserve strengthening occurs.
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Reserve Strengthening. Any increase in the Coinsurance Reserve for the Riders reinsured under this Agreement which is implemented by the Ceding Company on a discretionary basis (“Discretionary Reserve Strengthening”) shall not be made without the Reinsurer’s prior written consent, which consent will not be unreasonably delayed or withheld; provided, however, the Reinsurer may in its sole discretion require as a condition of its consent that the Ceding Company pay the amount of the Reinsurer’s share of the Discretionary Reserve Strengthening to the Reinsurer for the Accounting Period during which the increase takes effect. Discretionary Reserve Strengthening means a Material Increase in the Coinsurance Reserve for the Riders reinsured under this Agreement due solely to the Ceding Company’s decision to hold Statutory Reserves in excess of the reserves otherwise calculated to meet the requirements of AG 43 (or other applicable regulation(s) as amended/adopted) for the Base Annuities and the Riders. For purposes of this Paragraph 2, a Material Increase means [REDACTED]
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Reserve Strengthening. Any Discretionary Reserve Strengthening made by the Ceding Company without the Reinsurer’s prior written consent, shall be the sole responsibility of the Ceding Company and shall not be part of the collateral requirements of the Reinsurer to place assets in trust or provide a letter of credit as set forth in Article IV of this Agreement. Discretionary Reserve Strengthening means an increase in the Coinsurance Reserve for the Riders reinsured under this Agreement due solely to the Ceding Company’s decision to hold Statutory Reserves in excess of the minimum level of reserves which the Ceding Company, using sound actuarial principles, deems necessary to meet the requirements of AG 43 (or other applicable regulation(s) as amended/adopted) for the Base Annuities and the Riders. 28 of 88 ARTICLE VI
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Reserve Strengthening. Any increase in the Coinsurance Reserve for the Riders reinsured under this Agreement which is implemented by the Ceding Company on a discretionary basis (“Discretionary Reserve Strengthening”) shall not be made without the Reinsurer’s prior written consent, which consent will not be unreasonably delayed or withheld; provided, however, the Reinsurer may in its sole discretion require as a condition of its consent that the Ceding Company pay the amount of the Reinsurer’s share of the Discretionary Reserve Strengthening to the Reinsurer for the Accounting Period during which the increase takes effect. Discretionary Reserve Strengthening means a Material Increase in the Coinsurance Reserve for the Riders reinsured under this Agreement due solely to the Ceding Company’s decision to hold Statutory Reserves in excess of the reserves otherwise calculated to meet the requirements of AG 43 (or other applicable regulation(s) as amended/adopted) for the Base Annuities and the Riders. For purposes of this Paragraph 2, a Material Increase means an increase of five percent (5%) or more of cumulative changes during the previous twenty-four (24) month period ending with the date of the current proposed increase. The Ceding Company shall provide the Reinsurer with written notice of any Discretionary Reserve Strengthening as least forty-five (45) calendar days prior to the end of the Accounting Period for which such change is proposed to be implemented by the Ceding Company.
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Reserve Strengthening. Any reserve strengthening that [Redacted] EXECUTION VERSION Page 27 of 64
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Reserve Strengthening. Any increase in reserves resulting from a reserve strengthening with respect to the policies reinsured hereunder initiated by the Ceding Company will be paid by the Ceding Company to the Reinsurer at the end of the Accounting Period during which the reserve strengthening occurs. This Paragraph applies to strengthening affecting either or both the Statutory Reinsured Reserve or the Net Statutory Reserve. SCHEDULE C QUARTERLY REPORT OF ACTIVITY AND SETTLEMENTS FROM CEDING COMPANY TO REINSURER Reporting Quarter:______________ Calendar Year:_________________ Date Report Completed:_________ 1. Reinsurance Premiums (Article II, Paragraph 1) a. Xxxxx Xxxmiums collected on policies described in Schedule A, Paragraph 1 _______ b. Xxxxx Xxxmiums collected on policies described in Schedule A, Paragraph 2 _______ c. Dividends used to purchase paid-up additional insurance _______ Reinsurance Premiums = a + b + c _______ 2. Ceded Reinsurance Premiums (Article II, Paragraph 2) _______
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Related to Reserve Strengthening

  • Exchange Control Requirements You understand and agree that, pursuant to local exchange control requirements, you will be required to repatriate the cash proceeds from the sale of the Shares issued to you upon settlement of the Units and from the receipt of any dividends or Dividend Equivalents to China. You further understand that, under applicable laws, such repatriation of your cash proceeds will need to be effectuated through a special exchange control account established by the Company or any Affiliate, including the Employer, and you hereby consent and agree that any proceeds may be transferred to such special account prior to being delivered to you. You also understand that the Company will deliver the proceeds to you as soon as possible, but that there may be delays in distributing the funds to you due to exchange control requirements in China. Proceeds may be paid to you in U.S. dollars or local currency at the Company's discretion. If the proceeds are paid to you in U.S. dollars, you will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are paid to you in local currency, the Company is under no obligation to secure any particular currency conversion rate and the Company may face delays in converting the proceeds to local currency due to exchange control restrictions. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China.

  • Protective Order The Settling Defendants cannot, and do not, make any representation that they have, can or will produce such declarations, or a complete set of such responses, and it is understood and agreed that the failure to produce such responses shall not constitute a breach or violation of this Settlement Agreement; and

  • Executive Orders This Contract is subject to the provisions of Executive Order No. Three of Governor Xxxxxx X. Xxxxxxx, promulgated June 16, 1971, concerning labor employment practices, Executive Order No. Seventeen of Governor Xxxxxx X. Xxxxxxx, promulgated February 15, 1973, concerning the listing of employment openings and Executive Order No. Sixteen of Governor Xxxx X. Xxxxxxx promulgated August 4, 1999, concerning violence in the workplace, all of which are incorporated into and are made a part of the Contract as if they had been fully set forth in it. The Contract may also be subject to Executive Order No. 14 of Governor M. Xxxx Xxxx, promulgated April 17, 2006, concerning procurement of cleaning products and services, Executive Order No. 61 of Governor Xxxxxx X. Xxxxxx promulgated December 13, 2017 concerning the Policy for the Management of State Information Technology Projects, as issued by the Office of Policy and Management, Policy ID IT-SDLC-17-04, and Executive Order No. 49 of Governor Xxxxxx X. Xxxxxx, promulgated May 22, 2015, mandating disclosure of certain gifts to public employees and contributions to certain candidates for office in accordance with their respective terms and conditions. If Executive Orders 14, 61 or 49 are applicable, it is deemed to be incorporated into and are made a part of the Contract as if it had been fully set forth in it. At the Contractor’s request, the State shall provide a copy of these orders to the Contractor.

  • Anti-Money Laundering/International Trade Law Compliance No Covered Entity is a Sanctioned Person. No Covered Entity, either in its own right or through any third party, (i) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (ii) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) engages in any dealings or transactions prohibited by any Anti-Terrorism Law.

  • Wall Street Transparency and Accountability Act of 2010 The parties hereby agree that none of (i) Section 739 of the WSTAA, (ii) any similar legal certainty provision included in any legislation enacted, or rule or regulation promulgated, on or after the Trade Date, (iii) the enactment of the WSTAA or any regulation under the WSTAA, (iv) any requirement under the WSTAA or (v) any amendment made by the WSTAA shall limit or otherwise impair either party’s right to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased cost, regulatory change or similar event under this Confirmation, the Equity Definitions or the Agreement (including, but not limited to, any right arising from any Acceleration Event).

  • Export Control Regulations Buyer understands that Seller and the Goods are subject to the United States Export Administration Act, the Trading with the Enemy Act, the International Traffic in Arms Regulations (in the case of Goods that are considered defense articles), and other laws and regulations of the United States of America (collectively, the “Regulations”), which Regulations are enforced, inter alia, by the United States Departments of Commerce, State and Treasury. The Regulations, in part, prohibit export or diversion of the Goods to certain countries. Xxxxx agrees to abide by all Regulations, including those concerning the resale and disposition of the Goods. Buyer warrants that it will not sell, transfer or support, directly or indirectly, or assist in any sale or transfer of any products or product technology in countries or to users concerning which such sale, transfer or support is not permitted under applicable Regulations. Buyer shall defend, hold harmless and indemnify Seller for any damages resulting to Seller from a breach of this paragraph by Xxxxx.

  • Compliance with Federal Law, Regulations, and Executive Orders This is an acknowledgement that FEMA financial assistance will be used to fund all or a portion of the contract. The contractor will comply with all applicable Federal law, regulations, executive orders, FEMA policies, procedures, and directives.

  • Anti-Money Laundering Program The Trust acknowledges that it has had an opportunity to review, consider and comment upon the written procedures provided by USBFS describing various tools used by USBFS which are designed to promote the detection and reporting of potential money laundering activity by monitoring certain aspects of shareholder activity as well as written procedures for verifying a customer’s identity (collectively, the “Procedures”). Further, the Trust has determined that the Procedures, as part of the Trust’s overall anti-money laundering program, are reasonably designed to prevent the Fund from being used for money laundering or the financing of terrorist activities and to achieve compliance with the applicable provisions of the USA Patriot Act of 2002 and the implementing regulations thereunder. Based on this determination, the Trust hereby instructs and directs USBFS to implement the Procedures on the Trust’s behalf, as such may be amended or revised from time to time. It is contemplated that these Procedures will be amended from time to time by the parties as additional regulations are adopted and/or regulatory guidance is provided relating to the Trust’s anti-money laundering responsibilities. USBFS agrees to provide to the Trust: (a) Prompt written notification of any transaction or combination of transactions that USBFS believes, based on the Procedures, evidence money laundering activity in connection with the Trust or any shareholder of the Fund; (b) Prompt written notification of any customer(s) that USBFS reasonably believes, based upon the Procedures, to be engaged in money laundering activity, provided that the Trust agrees not to communicate this information to the customer; (c) Any reports received by USBFS from any government agency or applicable industry self-regulatory organization pertaining to USBFS’s anti-money laundering monitoring on behalf of the Trust; (d) Prompt written notification of any action taken in response to anti-money laundering violations as described in (a), (b) or (c); and (e) Certified annual and quarterly reports of its monitoring and customer identification activities on behalf of the Trust. The Trust hereby directs, and USBFS acknowledges, that USBFS shall (i) permit federal regulators access to such information and records maintained by USBFS and relating to USBFS’s implementation of the Procedures, on behalf of the Trust, as they may request, and (ii) permit such federal regulators to inspect USBFS’s implementation of the Procedures on behalf of the Trust.

  • Bank Secrecy Act; Money Laundering; Patriot Act Neither the Company, nor to the Company’s knowledge, any Company Affiliate, has violated: (i) the Bank Secrecy Act, as amended, (ii) the Money Laundering Laws or (iii) the Uniting and Strengthening of America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, and/or the rules and regulations promulgated under any such law, or any successor law.

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