Closed Block Assets definition

Closed Block Assets shall consist of (i) the Initial Closed Block Assets, (ii) cash flows from such assets, (iii) assets resulting from the reinvestment of such cash flows, (iv) cash flows from the Closed Block Policies and (v) assets resulting from the investment of such cash flows. Closed Block Assets shall include policy loans, accrued interest on any of the foregoing assets and due premiums on the Closed Block Policies. Closed Block Assets shall be adjusted to reflect Closed Block Policies ARTICLE I: DEFINITIONS issued or reinstated on or after the Closed Block Funding Date, as set forth in the Closed Block Memorandum. Closed Block Assets shall not include assets included in the Canadian Closed Block.
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Closed Block Assets means the Company's assets, as set forth in Exhibit C, that are allocated to the Closed Block as of the Statement Date.
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Closed Block Assets has the meaning specified in Section 8.1(b).
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Examples of Closed Block Assets in a sentence

  • Section I of Part One contains the methodology that is being followed to determine the amount of the Initial Canadian Closed Block Assets used to fund the Canadian Closed Block as of the midnight between June 30, 2000 and July 1, 2000 (the Plan defines the latter date to be the "Closed Block Funding Date").

  • The amount of Initial Closed Block Assets is determined effective as of July 1, 2000 (the "Closed Block Funding Date").

  • The determination of the actual Initial Canadian Closed Block Assets as of July 1, 2000 is described in subsection A below.

  • BLOCK ASSETS The following describes the selection of the provisional Initial Closed Block Assets.

  • The Closed Block Assets are the Company's assets, and the establishment of the Closed Block shall not in the event of the rehabilitation or liquidation of the Company affect the priority of the claims of the holders of Closed Block Policies to such assets in relation to the claims of all other policyholders and creditors of the Company.

  • The Canadian Closed Block Assets are the Company's assets, and the establishment of the Canadian Closed Block shall not in the event of the rehabilitation or liquidation of the Company affect the priority of the claims of the holders of Canadian Closed Block Policies to such assets in relation to the claims of all other policyholders and creditors of the Company.

  • Such assets actually selected are referred to as the "provisional Initial Closed Block Assets." The provisional Initial Closed Block Assets and their associated cash flows were identified and credited to the Closed Block starting on the Closed Block Funding Date.

  • In no event shall the Company be required to pay dividends from assets that are not Canadian Closed Block Assets.

  • Initial Canadian Closed Block Assets shall be determined in accordance with Part One of this Exhibit H.

  • Initial Closed Block Assets shall be determined in accordance with the Closed Block Memorandum.


More Definitions of Closed Block Assets

Closed Block Assets has the meaning specified in Section 7.1(b). "Closed Block Business" means Policies within the classes of Policies specified in Schedule 1 (which Policy classes include, except as specified on Schedule 1, all of the classes of individual Policies for which the Company had an experience-based dividend scale in effect for 1998 and certain other classes of individual Policies), but only to the extent such Policies are In Force on the Effective Date. "Closed Block Financial Statements" has the meaning specified in Section 7.2(e)(i). "Closed Block Funding Date" has the meaning specified in Section 7.1(b). "Closed Block Memorandum" has the meaning specified in Section 7.1(a). "Code" means the Internal Revenue Code of 1986, as amended. "Common Stock" means the shares of common stock of the Company. "Company" means, at all times prior to the Effective Date, Standard Insurance Company, a mutual life insurance company organized under the laws of Oregon, and at all times on and after the Effective Date, Standard Insurance Company, a stock life insurance company organized under the laws of Oregon. 2
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Closed Block Assets means the assets funding the Closed Block Policies, which assets are described on Exhibit D.
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