Closed Block Policies definition

Closed Block Policies does not include, among other things, (a) Interest Sensitive Life Insurance Policies or variable life insurance policies, (b) annuity contracts not described in (iii) above, (c)
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Closed Block Policies means the individual life insurance policies allocated pursuant to the Closed Block Memorandum to the Closed Block. "Closed Block Policies" as used in this Agreement is intended to refer to all such insurance policies which are in-force as of the Effective Date, as well as any riders providing for other supplemental benefits, and specifically includes (i) all lapsed policies subject to reinstatement and (ii) any supplemental benefits arising out of the Closed Block Policies.
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Closed Block Policies. (as defined in the Plan). The Closed Block will consist of "Closed Block Assets" and "Closed Block Liabilities" (each as defined in the Plan), and the assets included in the Closed Block Assets and the liabilities included in the Closed Block Liabilities shall be substantially consistent with the assets and liabilities included in such categories for purposes of preparing the pro forma financial information that has been previously provided to the Subscribers and that is included in the S-1 Registration Statement. The initial Closed Block Assets will be allocated to the Closed Block in order to produce cash flows to support the Closed Block Policies. The Company believes that the Closed Block Assets, together with the anticipated revenue from the Closed Block Policies, were reasonably sufficient as of the "Closed Block Funding Date" (as defined in the Closed Block Memorandum attached as an Exhibit to the Plan) to support the Closed Block Policies, and to provide for the continuation of the dividend scales in effect on the Adoption Date payable on the Closed Block Policies to reflect the underlying experience of the Closed Block. Such dividend scales may be adjusted by the Board of Directors of Prudential pursuant to the Plan if such experience changes as noted in the Disclosure Letter;
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Examples of Closed Block Policies in a sentence

  • The Canadian Closed Block shall be operated for the exclusive benefit of the Canadian Closed Block Policies in accordance with Part Two of this Exhibit H.

  • The Company shall pay all guaranteed benefits for Closed Block Policies in accordance with the terms of such policies.

  • The Company may, with the Commissioner's prior consent, and subject to Article 7 of Chapter 18 of Title 17B of the New Jersey Revised Statutes, enter into one or more agreements to reinsure or otherwise transfer all or any part of its risks under the Closed Block Policies.

  • As stated in Section 9.2(a) of the Plan of Reorganization, the Closed Block is credited with (or, if negative, charged for) all insurance cash flows and investment cash flows with respect to Closed Block Policies as specified in this Part Two.

  • If the Closed Block is discontinued, the Closed Block Policies then remaining shall continue to be obligations of the Company and dividends on such Policies shall be apportioned by the Board in accordance with applicable law.

  • The Canadian Closed Block is credited with (or, as appropriate, charged for) all insurance cash flows and investment cash flows with respect to Canadian Closed Block Policies as specified in Part Two, Section I.

  • Any policies reinstated after the Effective Date, pursuant to this Plan and this ADR Memorandum, which otherwise satisfy the conditions set forth in the definition of "Closed Block Policies", shall be considered such Policies.

  • 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.

  • 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.

  • A model based on September 30, 1999 Closed Block Policies in force was used in June, 2000, to estimate provisionally that the needed funding as of the Closed Block Funding Date would be approximately $48.9 billion (including policy loans).


More Definitions of Closed Block Policies

Closed Block Policies means all insurance policies and contracts (including supplementary contracts), together with all related binders, slips and certificates and including applications therefor and all supplements, endorsements, riders and agreements in connection therewith, that have been issued or assumed by the Company and which are included in the AmerUS Closed Block.
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Related to Closed Block Policies

  • Closed-End Funds has the meaning set forth in Section 2.1(b).

  • Closed-end Fund means a registered investment company that raises capital only periodically, by issuing a fixed number of shares. The shares of the closed-end fund are typically traded on an exchange and their prices fluctuate throughout the trading day, based on supply, demand, and the changing values of their underlying holdings. Closed-end funds are also known as Listed Investment Companies in Australia, and Investment Trusts in the U.K. Closed-end funds do not include funds typically known as “Exchange-Traded Funds” (“ETFs”) organized as open-end investment companies or unit investment trusts.

  • Post Closing Letter is that certain Post Closing Letter dated as of the Effective Date by and between Collateral Agent and Borrower.

  • Investment Policies means the investment objectives, policies, restrictions and limitations set forth in the “BUSINESS” section of its Registration Statement, and as the same may be changed, altered, expanded, amended, modified, terminated or restated from time to time.

  • Closed-end credit means a credit transaction that does not meet the definition of open-end credit.

  • D&O Policies has the meaning set forth in Section 8.06.

  • Disclosure Documents is defined in Section 5.3.

  • Customary Post-Closing Consents means those consents and approvals from Governmental Authorities for the assignment of the Assets to the Buyer that are customarily obtained after the assignment of properties similar to the Assets.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Enclosed Documents [ ] Promissory Note [ ] Primary Insurance Policy [ ] Mortgage or Deed of Trust [ ] Assignment(s) of Mortgage or Deed of Trust [ ] Title Insurance Policy [ ] Other: Name: Title: Date: EXHIBIT G-1 FORM OF TRANSFER AFFIDAVIT AND AGREEMENT STATE OF ) ) ss.: COUNTY OF ) [NAME OF OFFICER], being first duly sworn, deposes and says:

  • Disclosure Letters means the Seller Disclosure Letter and the Buyer Disclosure Letter.

  • Closing Date Business Plan means the set of Projections of Borrowers for the 3 year period following the Closing Date (on a year by year basis, and for the 1 year period following the Closing Date, on a month by month basis), in form and substance (including as to scope and underlying assumptions) satisfactory to Agent.

  • Interim Balance Sheet Date has the meaning set forth in Section 3.06.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • SEC Off-Balance Sheet Rules means the Disclosure in Management’s Discussion and Analysis About Off-Balance Sheet Arrangements, Securities Act Release No. 33-8182, 68 Fed. Reg. 5982 (Feb. 5, 2003) (codified at 17 CFR pts. 228, 229 and 249).

  • Company SEC Documents has the meaning set forth in Section 3.04(a).

  • Company Acquisition Agreement has the meaning set forth in Section 5.04(a).

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).