Statutory Capital and Surplus. AMS will at all times cause UWLIC to maintain a Statutory Capital and Surplus of not less than the sum of (a) $140,000,000, plus (b) 50% of the positive Statutory Net Income earned by UWLIC in each Fiscal Quarter ending after September 30, 1999 and on or prior to the date of determination (excluding changes in unrealized gain/loss).
Statutory Capital and Surplus. The Borrower and Holdings will not ----------------------------- permit, as of any date on or after the Closing Date, the aggregate Statutory Capital and Surplus of the U.S. Insurance Subsidiaries to be less than $316,000,000.
Statutory Capital and Surplus. (i) Borrower shall cause AH to maintain Statutory Capital and Surplus of at least $4,000,000 as of the date of each reporting period required by law or required by the Texas Department of Insurance."
M. Subsection 6.m.(ii) of the Agreement is hereby deleted in its entirety.
N. Subsection 6.o. of the Agreement is hereby deleted in its entirety and the following Subsections 6.o. is substituted in its place:
Statutory Capital and Surplus. Farm Bureau Life Insurance Company shall maintain a combined statutory capital and surplus (i.e., the statutory capital and surplus of Farm Bureau Life Insurance Company taking into account Farm Bureau Life Insurance Company’s ownership of EquiTrust Life Insurance Company), as determined in accordance with SAP, equal to or greater than $400,000,000 (the “Minimum Capital and Surplus Threshold”); provided, however, that the Minimum Capital and Surplus Threshold shall increase each quarter, commencing on December 31, 2003, by 50% of the prior quarter’s positive statutory net income, determined in accordance with SAP, earned by Farm Bureau Life Insurance Company on a stand-alone basis. In the event that EquiTrust Life Insurance Company ceases to be a subsidiary of Farm Bureau Life Insurance Company, the calculation of the Minimum Capital and Surplus Threshold shall be based on the sum of (x) the capital and surplus of Farm Bureau Life Insurance Company and (y) the capital and surplus of EquiTrust Life Insurance Company, each as determined in accordance with SAP.
Statutory Capital and Surplus. Borrower will cause ----------------------------- OCIC to maintain a Statutory Capital and Surplus of not less than $625,000,000 as of the end of each Fiscal Quarter ending on or before September 30, 2003, increasing to $650,000,000 as of the end of each Fiscal Quarter thereafter.
Statutory Capital and Surplus. HFS will not permit at any time AH's Statutory Capital and Surplus to be less than $2,650,000 as of the date of any reporting period required by law or required by the Texas Department of Insurance.
Statutory Capital and Surplus. The Borrower will not permit the total Statutory Capital and Surplus of American Eagle to be less than (i) $44,500,000 at any time prior to December 30, 1996 and (ii) $48,000,000 at any time thereafter. The amount set forth in the foregoing clause (ii) shall be increased by $.25 for each $1.00 received by American Eagle from any capital contribution made by the Borrower or any other Person."
Statutory Capital and Surplus. Permit Adjusted Statutory Capital and Surplus of Western National Life to be less than $550,000,000.
Statutory Capital and Surplus. Borrower shall cause HFC to maintain the following minimum stockholders' equity (determined in accordance with generally accepted accounting principles) as of the date of each reporting period required by law or required by the Texas Department of Insurance: 1997 $ 6,530,000 1998 $ 6,750,000 1999 $ 7,050,000 2000 $ 8,800,000 2001 $ 9,300,000"
Statutory Capital and Surplus. The definition of "Statutory Capital and Surplus" shall be amended and restated as follows:
