Acceptable Financial Assets definition

Acceptable Financial Assets means only the following kinds of assets: (i) cash and Cash Equivalents; and (ii) existing deposits of cash or securities with the Insurance Regulatory Authorities of the states listed on Schedule 4.31, all of which securities are rated as “investment grade” by the Securities Valuation Office of the National Association of Insurance Commissioners and constitute permissible investments under the insurance laws of the State of Wisconsin.
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Acceptable Financial Assets means only the following kinds of assets: (i) Cash and Cash Equivalents; and (ii) Existing deposits of cash or securities with the Insurance Regulatory Authorities of the states listed on Sch. 4.31, all of which securities are rated as “investment grade” by the SVO, and constitute permissible investments under the insurance laws of the State of Wisconsin.
Sample 1Sample 2
Acceptable Financial Assets means only the following kinds of assets which shall be valued at their Market Value as of the close of business on the Business Day immediately preceding the Closing Date: (i) cash and Cash Equivalents; (ii) investment grade obligations of U.S. corporations or state or local governments (or instrumentalities thereof) (other than Cash Equivalents) that are listed in Section 1 of the Disclosure Schedule and are permissible investments under Oklahoma insurance law; and (iii) existing deposits of cash, securities or other assets with state insurance departments listed in Section 4.1(u)(6) of the Disclosure Schedule.
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Examples of Acceptable Financial Assets in a sentence

  • Buyer shall have received a certificate dated the Closing Date and signed on behalf of Seller by the chief financial officer of Seller setting forth the Acceptable Financial Assets and the Market Value of such assets.

  • Buyer and Seller agree that following the Asset Transfer (if required) and the consummation of the transactions contemplated by the LPT and Quota Share Reinsurance Agreement, the Company shall not have any material assets other than Acceptable Financial Assets, the Insurance Licenses, and the reinsurance recoverables under the LPT and Quota Share Reinsurance Agreement and under the Reinsurance Agreements.

  • Following the Asset Transfer, and consummation of the transactions contemplated by the LPT, the Domestic Insurer shall not have any material assets other than Acceptable Financial Assets, the Insurance Licenses, and the reinsurance recoverables under the LPT and applicable Reinsurance Agreements.

  • Also, it is worth noting that, since this paper draft is part of much longer work, these and other works may have extraneous references (such as a, b, or c).outcomes of the past.

  • At the Closing, (i) the Company shall hold Acceptable Financial Assets having a value (based on SAP) of at least $7 million and (ii) the Company shall not have any material assets other than Acceptable Financial Assets, the Insurance Licenses, and the reinsurance recoverables under the Reinsurance Agreements.

  • The Acceptable Financial Assets shall be valued at Market Value as of the close of business on the Business Day immediately preceding the Closing Date or as of the close of business on the Business Day immediately preceding the date of delivery of the statement of the Estimated Surplus Amount, as applicable.

  • Seller shall cause the Company to hold, at the Closing, Acceptable Financial Assets having a value (based on SAP) of at least $7 million.

  • Buyer shall have received a certificate dated the Closing Date and signed on behalf of Seller by the Chief Financial Officer of Seller setting forth the Acceptable Financial Assets and the Market Value of such assets.

  • This will change the process a little [as] we discussed on the phone.

  • Assetswing kinds of assets: (i) cash and Cash Equivalents, (ii) existing deposits of cash or securities with the Insurance Regulatory Authorities of the states listed on Schedule 4.31, all of which securities are rated as uation Office of the National Association of Insurance Commissioners and constitute permissible investments under the insurance laws of the State of Seller agree shall be deemed to be Acceptable Financial Assets for purposes of this Agreement.


More Definitions of Acceptable Financial Assets

Acceptable Financial Assets means only the following kinds of assets: (i) direct obligations of the U.S. Government or its agencies; (ii) U.S. Treasury Bonds; (iii) publicly traded investment grade equity securities; (iv) publicly traded investment grade bonds (NAIC "Class 1" or "Class 2"); (v) investment grade (NAIC "Class 1" or "Class 2") obligations of states, territories and possessions and their political subdivisions; (vi) cash and cash equivalents; (vii) assets upon which Buyer and Seller specifically agree; and (viii) accrued interest on the assets listed in items (i) through (vii) of this definition.
Sample 1
Acceptable Financial Assets. Only the following kinds of assets, (i) cash and cash equivalents, (ii) Deposits identified on Schedule 5.22 and (iii) the assets identified on Schedule 5.7; provided, that in the event that any such assets mature or are sold, in each case, following the date hereof, the proceeds therefrom shall be held as cash.
Sample 1
Acceptable Financial Assets means only the following kinds of assets which shall be valued at their Market Value: (i) cash and Cash Equivalents; (ii) assets upon which the Buyer and the Seller specifically agree; and (iii) existing deposits of cash, securities or other assets with state insurance departments listed on Schedule 4.1(q)(5), other than those specifically indicated on such schedule as objected to by the Buyer.
Sample 1
Acceptable Financial Assets means only the following kinds of assets: (i) cash and Cash Equivalents; and (ii) existing deposits of cash, securities or other assets with state insurance departments listed on Schedule 1.01.
Sample 1

Related to Acceptable Financial Assets

  • Financial Asset The meaning specified in Section 8-102(a)(9) of the UCC.

  • financial assets means (i) cash, (ii) securities, or (iii) a contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Eligible Instruments means monetary assets, money market instruments and securities that are payable in Dollars only and essentially risk free as to collection of principal and interest, including U.S. Government Obligations.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, and has such other terms and conditions as Agent may require.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Investment Property the collective reference to (i) all “investment property” as such term is defined in Section 9-102(a)(49) of the New York UCC (other than any Foreign Subsidiary Voting Stock excluded from the definition of “Pledged Stock”) and (ii) whether or not constituting “investment property” as so defined, all Pledged Notes and all Pledged Stock.

  • Pledged Investment Property means any investment property of any Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments. “Pledged Investment Property” excludes any Excluded Property.

  • Liquid Investments means:

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding the proceeds of any sale or disposition of any Notes Collateral.

  • Approved Deposit Account means a Deposit Account maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Control Account Agreement.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.