Consolidated Statutory Surplus definition

Consolidated Statutory Surplus means the sum of (i) the amount or amounts set forth on the line for statutory surplus in the Liabilities, Surplus and Other Funds Statement in the applicable Annual Statement or Statements or the applicable Quarterly Statement or Statements most recently delivered to the Administrative Agent and the Lenders pursuant to Section 5.03 or, if such statement shall be modified, the equivalent item on any applicable successor form (which amount or amounts shall be computed in a manner consistent with SAP) with respect to the Insurance Subsidiaries regulated in the United States; and (ii) the equivalent amount or amounts as calculated by the Company on a quarterly basis and provided to the Administrative Agent and the Lenders pursuant to Section 5.03 (which amount or amounts shall be computed in a manner consistent with that used in preparing statutory financial statements in the United States) with respect to the Insurance Subsidiaries not regulated in the United States.
Sample 1Sample 2
Consolidated Statutory Surplus means, as of any date, with respect to the Insurance Subsidiaries, the aggregate amount (without duplication) of policyholders' surplus (as shown on line 25 in column 1 on page 3 of such Person's most recent SAP Statement) of the Insurance Subsidiaries on a consolidated basis in accordance with SAP, or an amount determined in a consistent manner for any date other than one as of which a SAP Statement is prepared.
Sample 1Sample 2
Consolidated Statutory Surplus means, with respect to the Insurance Subsidiaries, the amount or amounts set forth on line 32 of the Liabilities, Surplus and Other Funds Statement in the applicable Annual Statement or Statements or the applicable Quarterly Statement or Statements most recently delivered to the Administrative Agent and the Lenders pursuant to Section 5.03 or, if such statement shall be modified, the equivalent item on any applicable successor form (which amount shall be computed in a manner consistent with that used in preparing the financial statements as of and for the fiscal year ended December 31, 2001, referred to in Section 3.05).
Sample 1Sample 2

Examples of Consolidated Statutory Surplus in a sentence

  • Permit Consolidated Statutory Surplus at the end of any fiscal quarter to be less than $7,600,000,000.

  • The Borrower will not, and will not permit Madison or Standard or any of their Subsidiaries to, at any time enter into any Surplus Relief Reinsurance Agreement, other than Surplus Relief Reinsurance Agreements entered F-43 into by Madison or Standard, PROVIDED, HOWEVER, that in any event, the aggregate amount invested in such Surplus Relief Reinsurance Agreements by Madison shall not exceed 15% of Madison Consolidated Statutory Surplus and by Standard shall not exceed 15% of Standard Statutory Surplus.

  • Subsidiaries to maintain at the end of each fiscal quarter of the Borrower and its Subsidiaries the sum of (i) Consolidated Statutory Surplus at the end of such fiscal quarter plus (ii) AVR at the end of such fiscal quarter of not less than $1,200,000,000.

  • The Applicant will cause the Consolidated Statutory Surplus of the Insurance Subsidiaries to be not less than $450,000,000 at all times from and after the Restatement Effective Date.

  • The Borrower will not permit Consolidated Statutory Surplus to be less than $60,000,000 at any time from and after the Closing Date.

  • The Borrower will not permit, at any time from and after the Closing Date, the ratio of (i) Consolidated Net Written Premiums to Consolidated Statutory Surplus to be greater than 2.5 to 1.0 or (ii) Consolidated Gross Written Premiums to Consolidated Statutory Surplus to be greater than 5.0 to 1.0 (or, in either case, any lower ratio required under any applicable Requirement of Law).

  • Cause its Insurance Subsidiaries to maintain at the end of each fiscal quarter of the Borrower and its Subsidiaries the sum of (i) Consolidated Statutory Surplus at the end of such fiscal quarter plus (ii) AVR at the end of such fiscal quarter of not less than $1,200,000,000.

  • The Applicant will cause the Consolidated Statutory Surplus of the Insurance Subsidiaries to be not less than $450,000,000 at all times from and after the Effective Date.

  • Permit Consolidated Statutory Surplus at the end of any fiscal quarter to be less than $4,100,000,000.

  • Permit Consolidated Statutory Surplus at the end of any fiscal quarter to be less than $4,000,000,000.


More Definitions of Consolidated Statutory Surplus

Consolidated Statutory Surplus means, with respect to the Insurance Subsidiaries of the Borrower at any time, the amount set forth on line 37 on page 3 of the Liabilities, Surplus and Other Funds Statement in the annual Statement or the Quarterly Statement of Hartford Life and Accident Insurance Company most recently delivered to the Administrative Agent and the Lenders pursuant to Section 5.01(i) or, if such statement shall be modified, the equivalent item on any applicable successor form.
Sample 1Sample 2
Consolidated Statutory Surplus means, as to all Insurance Subsidiaries domiciled in the United States, as of any date, the sum (without duplication) of the total amounts shown on line 32, column 1, page 3 of the Annual Statement of such Insurance Subsidiary, excluding in each case any finance Subsidiary that is a Subsidiary of an Insurance Subsidiary, or the sum of amounts determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
Sample 1
Consolidated Statutory Surplus means, as to all Insurance Subsidiaries, as of any date, the sum (without duplication) of the total amounts shown (i) with respect to each Insurance Subsidiary not legally domiciled in the United States, the shareholders’equity of such Insurance Subsidiary as determined in accordance with Generally Accepted Accounting Principles (without regard to the requirements of Statement of Financial Accounting Standards No. 115 issued by the Financial Accounting Standards Board), (ii) with respect to each other Insurance Subsidiary that is a life and accident and health insurance company, on line 38, column 1, page 3 of the Annual Statement of such Insurance Subsidiary, and (iii) with respect to each other Insurance Subsidiary, on line 27, column 1, page 3 of the Annual Statement of such Insurance Subsidiary, excluding in each case under clauses (i), (ii) and (iii) any finance Subsidiary that is a Subsidiary of an Insurance Subsidiary, or the sum of amounts determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
Sample 1
Consolidated Statutory Surplus means, with respect to Hartford Fire Insurance Company and its consolidated Subsidiaries at any time and Nutmeg Insurance Company and its consolidated Subsidiaries at any time, the amount set forth on line 25 of the Liabilities, Surplus and Other Funds Statement in the Annual Statement or the Quarterly Statement of Hartford Fire Insurance Company most recently delivered to the Administrative Agent and the Lenders pursuant to Section 5.03 or, if such statement shall be modified, the equivalent item on any applicable successor form.
Sample 1
Consolidated Statutory Surplus means, with respect to GNIC and VICW at any time, the aggregate (without duplication) of the amounts shown on line 25, page 3, column 1 of the Annual Statement of each of GNIC and VICW, or the aggregate (without duplication) of the amounts determined in a consistent manner for any date other than a date as of which an Annual Statement of GNIC and VICW is prepared.
Sample 1

Related to Consolidated Statutory Surplus

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case held by the Parent and its Consolidated Subsidiaries.

  • Consolidated Stockholders’ Equity means, as of any date of determination for the Company and its Subsidiaries (excluding Project Debt Entities) on a consolidated basis, stockholders’ equity as of that date, determined in accordance with GAAP.

  • Consolidated Assets means, at a particular date, all amounts which would be included under total assets on a consolidated balance sheet of the Company and its Subsidiaries as at such date, determined in accordance with GAAP.

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Consolidated Equity means and refers to, as of the end of any period of determination, the sum, without duplication, of (i) Consolidated Tangible Net Worth of HDFS, (ii) preferred stock and (iii) Subordinated Indebtedness.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Operating Cash Flow means, with respect to the Company and its Subsidiaries on a consolidated basis, for any period, an amount equal to Consolidated Net Income for such period increased (without duplication) by the sum of:

  • Consolidated Adjusted Debt means, at any time, the sum of, without duplication, (i) Consolidated Funded Indebtedness and (ii) the product of Consolidated Rents multiplied by 6.0.

  • Consolidated Capitalization means the sum obtained by adding (i) Consolidated Shareholders' Equity, (ii) Consolidated Indebtedness for money borrowed (exclusive of any thereof which is due and payable within one year of the date such sum is determined) and, without duplication, (iii) any preference or preferred stock of the Company or any Consolidated Subsidiary which is subject to mandatory redemption or sinking fund provisions.

  • Consolidated Cash Taxes means for any period for Consolidated Parties on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • Consolidated Rent Expense means, for any period, the total rent expense with respect to real and personal property of the Borrower for such period, as determined on a Consolidated basis and as reported in its financial statements.

  • Consolidated Debt means, at any date, the Debt of the Borrower and its Consolidated Subsidiaries, determined on a consolidated basis as of such date.

  • Consolidated Cash Interest Charges means, for any period, for the Borrower and its Restricted Subsidiaries on a consolidated basis, that portion of Consolidated Interest Charges that is either paid or required to be paid in cash during such period, but excluding prepayment or similar premiums paid in connection with any prepayment, repurchase or redemption of Consolidated Funded Indebtedness.

  • Consolidated Cash Interest Expense means, for any period, Consolidated Interest Expense for such period excluding, however, any interest expense not payable in Cash (including amortization of discount and amortization of debt issuance costs).

  • Consolidated Current Ratio means, as of any date of determination, the ratio of Consolidated Current Assets to Consolidated Current Liabilities as of such date.

  • Consolidated Plan means the plan prepared in accordance with 24 CFR Part 91, which describes needs, resources, priorities and proposed activities to be undertaken with respect to certain HUD programs, including the HOME Program.

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Consolidated Capital means the sum (without duplication) of (i) Consolidated Debt of the Borrower (without giving effect to the proviso in the definition of Consolidated Debt) and (ii) consolidated equity of all classes (whether common, preferred, mandatorily convertible preferred or preference) of the Borrower.

  • Consolidated Interest Expense means, with respect to any Person for any period, without duplication, the sum of:

  • consolidated basis means on the basis of the consolidated situation;

  • Consolidated Capitalization Ratio on the last day of any fiscal quarter, the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Capital.

  • Consolidated Net Interest Expense means, with respect to any Person for any period, (a) gross interest expense of such Person and its Subsidiaries for such period determined on a consolidated basis and in accordance with GAAP (including, without limitation, interest expense paid to Affiliates of such Person), less (b) the sum of (i) interest income for such period and (ii) gains for such period on Hedging Agreements (to the extent not included in interest income above and to the extent not deducted in the calculation of gross interest expense), plus (c) the sum of (i) losses for such period on Hedging Agreements (to the extent not included in gross interest expense) and (ii) the upfront costs or fees for such period associated with Hedging Agreements (to the extent not included in gross interest expense), in each case, determined on a consolidated basis and in accordance with GAAP.

  • Consolidated Total Funded Debt means, as of the date of determination, the aggregate principal amount of all Funded Debt of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Consolidated Shareholders’ Equity means, as of any date of determination, the consolidated shareholders’ equity of the Company and its Subsidiaries that would be reported as shareholders’ equity on a consolidated balance sheet of the Company and its Subsidiaries prepared as of such date in accordance with GAAP.