Additional Security Amount definition

Additional Security Amount means, at any time, the amount in Sterling (as certified by the Lessor whose certificate shall, in the absence of manifest error, be conclusive and binding on the Lessee) which is the value of any Additional Security at such time (but for the purpose of the definition of the Applicable Security Amount and in the case of any Additional Security provided by a Relevant Bank, disregarding any Relevant Bank Change of Law Event or Relevant Bank Illegality Event which may affect the liability of the LC Bank to the Lessor in respect of the relevant Additional Security at such time);

Additional Security Amount means any additional sum of money on top of the Security Amount which we may require from you in the event of any actual or reasonably anticipated claims, any Loss, cost, penalties and expenses or for any anticipated increased risk identified by us.

Additional Security Amount means, (a) at all times when the RBC Ratio of the Reinsurer most recently reported to the Company pursuant to Section 4.3 is less than 200%, an amount equal to 2% of Statutory Reserves (as defined in the Ameritas Coinsurance Agreement), and (b) at any other time, $0.

Examples of Additional Security Amount in a sentence

• If we require Additional Security Amount, we shall notify you about it, its method of calculation, its amount as well as any increase or reduction of Security Amount in any Security Account and/or Additional Security Amount, without undue delay, in writing.

• Also, you shall: (i) put that Additional Security Amount in place at your expense, in accordance with any terms and conditions determined by us; and (ii) at your own expense, take any further action (including executing any necessary documents and registering any form of document) necessary to establish such Additional Security.

• We may use any sum which we receive for you and you are its beneficiary or any sum received from you (including any sum forming part of any Security Amount or Additional Security Amount), at any time, to settle any liability which we may incur relating to your activity.

• We may use any sum which we receive for you and you are its beneficiary or any sum received from you (including any sum forming part of any Security Amount or Additional Security Amount), at any time, to settle any liability which we may incur relating to your activity in accordance with the Agreement.

• At our Discretion, we may request that you put in place an Additional Security Amount (including personal guarantees or bank guarantees from a bank and in a form acceptable to us; and/or Additional Security Amounts into a Security Account) so as to provide a source of funds to pay us for all, actual or reasonably anticipated Loss or for any anticipated increased risk identified by us.

• If we require Additional Security Amount, we shall notify you of the imposition of it, its method of calculation, its amount as well as any increase or reduction of Security Amount in any Security Account and/or Additional Security Amount, without undue delay, in writing.

More Definitions of Additional Security Amount

Additional Security Amount shall be equal to, without duplication, (i) 90% of the shareholders' equity (calculated in accordance with United States generally accepted accounting

Additional Security Amount shall be equal to, without duplication, (i) 90% of the shareholders' equity (calculated in accordance with United States generally accepted accounting principles) of the Reinsurer as of the last day of the immediately preceding fiscal quarter, minus (ii) the Statutory Trust Amount and any amount held in the Statutory Trust in excess of the Statutory Trust Amount, minus (iii) any amounts which at such quarter end were being utilized to collateralize the obligations of the Reinsurer pursuant to other reinsurance arrangements with the Company or any affiliate of the Company, and minus (iv) such other amounts as the Company may agree are not required to secure the Reinsurer's obligations under this Agreement; provided, however, for any fiscal quarter following a fiscal quarter as of the last day of which the Reinsurer had shareholders' equity of at least $100 million, clause (i) above shall be reduced to 125% of the most recent worst case frequency scenario presented to the Reinsurer by the Company on an annual or more frequent basis as the Company may determine, in each case applicable to the risks ceded to the Reinsurer by the Company and its affiliates and utilizing the methodology and assumptions utilized by the Company and its affiliates for their internal use. The Reinsurer and the Company agree that the Company or its successors in interest may exercise the Company's rights under such additional security arrangements and apply the proceeds thereof, without diminution because of the insolvency of the Company or the Reinsurer, only for the following purposes:

Additional Security Amount means $2.178 million, which is the product of $30 per kilowatt (kWAC) and the Facility’s anticipated nameplate Capacity, or 72.6 megawatts (MWAC), as measured in kilowatts (kWAC).