Actuarial Firm definition

Actuarial Firm shall have the meaning set forth in Section 3.2(b) hereof.
Sample 1
Actuarial Firm means a nationally recognized actuarial or accounting firm, mutually agreed to by the Parties, which is disinterested, both financially and otherwise, in the outcome of the matter being evaluated and independent from and not under the Control of either the Ceding Company or the Reinsurer or their respective Affiliates. In addition, from and after the Reinsurance Closing Date, the Actuarial Firm (a) will not have been engaged at any point in time by the Ceding Company or the Reinsurer or their respective Affiliates with respect to any matter relating to the Coinsured Contracts, and (b) during the one (1) year period immediately prior to being appointed as the Actuarial Firm pursuant to this Agreement, will not have been engaged by the Ceding Company or the Reinsurer or their respective Affiliates and received or is entitled to receive any compensation in excess of $250,000 for such services.
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Actuarial Firm means the an actuary, selected by Oglebay, who is an enrolled actuary as defined in Section 7701(a)(35) of the Internal Revenue Code, or a firm or corporation of actuaries having such a person on its staff, which person, firm, or corporation served as the actuarial consultant for the Oglebay Norton Company Pension Plan for the plan year preceding the first year in which there occurred either (a) that Change of Control or (b) any Funding Event that had not terminated before the occurrence of that Change of Control and such firm’s successor or successors; provided, however, if such firm is unable or unwilling to serve and perform in the capacity contemplated by this Trust Agreement, those members of the Board of Directors of Oglebay (as constituted immediately before the Change of Control) who are not and have never been employees of Oglebay shall select another national actuarial firm of recognized standing to serve and perform in that capacity under this Trust Agreement, except that such other actuarial firm shall not be the then actuarial firm for Oglebay or any of its affiliates (as defined in Rule 12b-2 promulgated under the 1934 Act).
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Examples of Actuarial Firm in a sentence

  • The decision of the Actuarial Firm with respect to the Termination Value will be final and binding upon the parties.

  • If the parties cannot mutually agree on the Termination Value, then the calculation will be submitted to a nationally recognized, independent actuarial firm or the actuarial group of a nationally recognized, independent accounting firm (hereinafter the "Actuarial Firm"), that is mutually acceptable to the parties for determination of a Termination Value which is reasonably consistent with the terms of this Agreement.

  • The parties will share equally in the costs and expenses, if any, incurred by the Actuarial Firm and the Society of Actuaries.

  • If the parties cannot reach agreement as to the Actuarial Firm, then such appointment will be decided by the President of the Society of Actuaries.

  • The Actuarial Firm shall issue its written determination with respect to each Unresolved Item within thirty (30) days after the Unresolved Items are submitted for review.

  • He is an onco-haematologist, and has 14 years' clinical experience in a hospital environment in Switzerland and the USA, as well as 22 years' experience in clinical research and devel- opment at Roche.

  • The fees, costs and expenses of retaining the Actuarial Firm will be allocated by the Actuarial Firm between or among, as applicable, each of the Parties involved in the Dispute in accordance with the Actuarial Firm’s judgment as to the relative merits of such Parties’ proposals in respect of the disputed items.

  • If the parties cannot reach agreement as to the termination value after receiving the results from the Actuarial Firm, the matter will be submitted to arbitration, in accordance with Article X.

  • The determination by the Actuarial Firm, as to the calculation(s) in dispute, will be in writing and will have the same binding effect for all purposes as if such determination had been embodied in a final and binding arbitral award and any Party involved in the Dispute may petition a court having jurisdiction over the Parties involved in the Dispute and subject matter to confirm such determination to final judgment or to vacate such determination pursuant to the Federal Arbitration Act.

  • The parties will share equally in the costs and expenses incurred by the Actuarial Firm.


More Definitions of Actuarial Firm

Actuarial Firm has the meaning accorded such term in Section 5.04(c).
Sample 1
Actuarial Firm means Xxxxxx Associates LLC or another actuarial firm of recognized national standing agreed between Sellers and Buyer. In no event shall any partner or professional staff member of the Actuarial Firm engaged for the purposes set forth in this Agreement have performed services on any prior or current engagement for Sellers, Buyer or their Affiliates and, to the extent practicable, the parties shall select an actuarial firm which is not currently expected to perform substantial services for any of Sellers, Buyer or their Affiliates during the 12 months following the date of this Agreement.
Sample 1
Actuarial Firm has the meaning set out in Paragraph 3.3 of Schedule 5;
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Actuarial Firm has the meaning set forth in Section 7.5(b).
Sample 1
Actuarial Firm means any of KPMG, Xxxxxxxx & Xxxxxxxxx or -------------- Xxxxxxxxxxx-Xxxxxx Xxxxxx, as selected by Purchaser.
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Actuarial Firm has the meaning accorded such term in Section 3.03(e)(iv).
Sample 1

Related to Actuarial Firm

  • Actuarial opinion means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with subrule 5.34(6) and with applicable actuarial standards.

  • Actuarial valuation means a mathematical determination of

  • Actuarial method means the method of allocating a fixed level monthly payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (a) 1/12, (b) the fixed annual rate of interest on such obligation and (c) the outstanding principal balance of such obligation.

  • Actuarial equivalent means a benefit of equal value when

  • Actuarial certification means a written statement by a member of the American Academy of

  • Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

  • Actuarial reserve means a method of financing a pension or

  • Actuary means a person who is a member in good standing of the American academy of actuaries.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Actuarial Receivable means any Receivable under which the portion of a payment with respect thereto allocable to interest and the portion of a payment with respect thereto allocable to principal is determined in accordance with the Actuarial Method.

  • Adverse Benefit Determination means any of the following:

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Actuarially Equivalent or "of equal actuarial value" means a benefit of equal value

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Annual Benefit Limit means the maximum amount of benefits paid by the Company to the Policy Holder in a Policy Year irrespective of whether any limits of any benefit items stated in the Benefit Schedule have been reached. The Annual Benefit Limit is counted afresh in a new Policy Year.

  • Accrued Benefit have the meanings specified in ERISA.

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • SERP Benefit means the benefit described in Section 5.1.

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.