Statutory Net Worth Sample Clauses

Statutory Net Worth. Permit the aggregate Statutory Surplus of all Insurance Subsidiaries, collectively, to be less than (i) $45,000,000 at any time from and after the Closing Date through and including December 31, 1997; (ii) $50,000,000 at any time from and after January 1, 1998 through and including December 31, 1998; (iii) $55,000,000 at any time from and after January 1, 1999 through and including December 31, 1999; and (iv) $60,000,000 at any time thereafter.
Sample 1
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Statutory Net Worth. Borrower will not permit the tangible net worth of Ohio Indemnity Company ("policy holder surplus" in statutory reporting) to be less than $18,000,000 on each December 31 throughout the term of this Agreement, as determined in accordance with accounting standards promulgated by the Ohio Department of Insurance.
Sample 1
Statutory Net Worth. As of the end of each of their calendar quarters (commencing with the calendar quarter ending March 31, 2014), the Operating Subsidiaries shall maintain a combined Statutory Net Worth in an amount not less than Fifty Million and 00/100 Dollars ($50,000,000.00).
Sample 1
Statutory Net Worth. Borrower will not permit the tangible net worth of Ohio Indemnity Company ("policy holder surplus" in statutory reporting) to be less than the amounts indicated at the end of each respective periods indicated below, as determined in accordance with accounting standards promulgated by the Ohio Department of Insurance: Fiscal Year Ending Maximum Net Worth ------------------ ----------------- December 31, 1992 $7000,000 December 31, 1993 $7,250,000 December 31, 1994 $7,750,000 This minimum net worth shall thereafter be increased by at least $500,000 at the end of each fiscal year commencing with the fiscal year ending December 31, 1995.
Sample 1
Statutory Net Worth. Borrower shall not permit its Statutory Net Worth as of the end of the fiscal quarter ending March 31, 2015 and as of the end of any fiscal quarter thereafter, to be less than the Minimum Net Worth.
Sample 1
Statutory Net Worth. The aggregate Capital and Surplus of the Primary Borrower's Insurance Subsidiaries shall be not less than $2,300,000,000 as of the end of the fiscal quarter most recently ended prior to the Closing Date, after giving pro forma effect to the consummation of the Acquisition and related transactions, including the Reinsurance Agreements referenced in Section 5.1(m), the increase in reserves described in Section 5.1(c) and the contribution of Folksamerica and Main Street America as a part of the Preclosing Transactions.
Sample 1
Statutory Net Worth. The aggregate Statutory Net Worth of FGHP and FG Kansas combined at Closing shall be at least $6,000,000.
Sample 1
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Related to Statutory Net Worth

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) 203,170,000 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Minimum Net Worth The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

  • Adjusted Net Worth The Guarantor will not permit Adjusted Net Worth as at the last day of any fiscal quarter of the Guarantor to be less than $1,000,000,000.

  • Tangible Net Worth The Seller will not permit its tangible net worth, at any time, to be less than $10,000,000.

  • Minimum Book Net Worth The Borrower will maintain, during each period set forth below, its Book Net Worth, determined as of the last day of each month, at an amount not less than the amount set forth opposite such period below: Period Minimum Book Net Worth ---------- ---------------------- March 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter

  • Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.

  • Consolidated Tangible Net Worth (i) The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Total Liabilities to Tangible Net Worth Ratio Maintain a ratio of total liabilities to Tangible Net Worth of less than .80 to 1.0 as of the end of each fiscal quarter.

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