Common use of Statutory Reserves Clause in Contracts

Statutory Reserves. The term “statutory reserve(s)” or “gross statutory reserve(s)”, whenever used for the purpose of this Agreement, shall mean the total reserves that would have been required under the underlying agreements in accordance with the regulatory requirements of the original issuing companies’ respective state of domicile had this agreement not have been placed in effect.

Statutory Reserves. The term “statutory reserve(s)” or “gross statutory reserve(s)”, whenever used for the purpose of this Agreement, shall mean the total reserves that would have been required under for the underlying agreements business reinsured in accordance with the regulatory requirements of the original issuing companies’ Ceding Company’s respective state of domicile had this agreement Agreement not have been placed in effect.

Statutory Reserves. The term “"statutory reserve(s)” " or “"gross statutory reserve(s)”, ," whenever used for the purpose of this Agreement, shall mean the total reserves that would have been required under the underlying agreements Texas regulation and in accordance with accepted actuarial industry practice on the regulatory requirements portion of the original issuing companies’ respective state of domicile policies reinsured hereunder had this agreement Agreement not have been placed in effect.