Aggregate Required Amount definition

Aggregate Required Amount means, as of the last day of each calendar quarter, the sum of the Required Amount plus Required Amount as defined in each of the Additional Reinsurance Agreements.

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Aggregate Required Amount shall have the meaning assigned to that term in Section 7 hereof.

Aggregate Required Amount means, as of the last day of each calendar quarter, the sum of the Required Amount plus the Required Amount as defined in each of the Additional Reinsurance Agreements. Notwithstanding the foregoing, Allstate may post a Letter of Credit only with the prior written approval of the New York State Department of Financial Services.

Examples of Aggregate Required Amount in a sentence

• If the Trust Account Balance as of the end of the quarter corresponding to a Settlement Date is greater than the Aggregate Required Amount set forth in the Quarterly Report for such Settlement Date, Allstate may seek to reduce such excess through withdrawal of assets from the Trust Account in accordance with the provisions of Paragraph (h) below.

• In connection therewith, to the extent required for Allstate Life of New York to obtain such full credit for reinsurance, Allstate shall either post a letter of credit (the “Letter of Credit”) or fund a trust account (the “Trust Account”) for the benefit of Allstate Life of New York in an amount equal to the Aggregate Required Amount.

• Within thirty (30) days following the end of each quarter that the Reinsurance Agreement is in effect, Allstate Life of New York shall send to Allstate Life a report setting forth the Aggregate Required Amount as of the last day of the previous quarter (each, a “Quarterly Report”).

• Within thirty (30) days following the end of each quarter that the Reinsurance Agreement is in effect, the Ceding Company shall send to the Accepting Company a report setting forth the Aggregate Required Amount as of the last day of the previous quarter (each, a “Quarterly Report”).

• If the Trust Account Balance as of the end of the quarter corresponding to a Settlement Date is greater than the Aggregate Required Amount set forth in the Quarterly Report for such Settlement Date, the Accepting Company may seek to reduce such excess through withdrawal of assets from the Trust Account in accordance with the provisions of Paragraph (h) below.

More Definitions of Aggregate Required Amount

Aggregate Required Amount means, for any day, the sum of the aggregate amount of interest, calculated at the rate per annum equal to the Stated Interest Rate, that would be payable on the Certificates on each of the eighteen successive Regular Distribution Dates immediately following such day or, if such day is a Regular Distribution Date, on such day and the succeeding seventeen Regular Distribution Dates, in each case calculated on the basis of the Pool Balance (subject to the proviso in the definition of "Required Amount" below) on such date and without regard to expected future payments of principal on the Certificates.

Aggregate Required Amount means, as of the last day of each calendar quarter, the sum of the Required Amount plus the Required Amount as defined in each of the Additional Reinsurance Agreements. Notwithstanding the foregoing, Allstate may post a Letter of Credit only with the prior written approval of the New York State Department of Financial Services. The Ceding Company and the Accepting Company agree that the Letter of Credit or Trust Account will be in such form and held in such manner so as to allow the Ceding Company to take statutory financial statement credit pursuant to 11 NYCRR 125 for the reinsurance provided by this Agreement.

Aggregate Required Amount has the meaning given to it in Section 1.4.3(e)(i).