CONVENTION STATEMENT definition
CONVENTION STATEMENT means each financial statement which CHLIC submits to the Texas Insurance Department in the same form as the financial statements referred to in Section 4.04(b), as such form may be amended from time to time pursuant to the requirements of the Texas Insurance Department.
CONVENTION STATEMENT means an annual convention statement or equivalent of each of the INSURERS filed with the insurance department or other insurance regulatory authority of the state of its incorporation.
CONVENTION STATEMENT each annual and quarterly financial statement of --------------------- Anchor as filed with the appropriate Governmental Authority of its state of domicile, as such form may be amended from time to time pursuant to the requirements of such Governmental Authority.
More Definitions of CONVENTION STATEMENT
CONVENTION STATEMENT with respect to any Insurance Subsidiary, any annual or quarterly statutory financial statement of such Insurance Subsidiary required to be filed with the Applicable Insurance Regulatory Authority in accordance with state law, together with all exhibits, schedules, certificates or actuarial opinions filed or delivered therewith. DEFAULT: any event or condition which upon notice, lapse of time or both would constitute an Event of Default. DOLLARS or $: lawful money of the United States of America. ENVIRONMENT: ambient air, surface water and groundwater (including potable water, navigable water and wetlands), the land surface or subsurface strata, the workplace or as otherwise defined in any Environmental Law. ENVIRONMENTAL CLAIM: any written accusation, allegation, notice of violation, claim, demand, order, directive, cost recovery action or other cause of action by, or on behalf of, any Governmental Authority or any person for damages, injunctive or equitable relief, personal injury (including sickness, disease or death), Remedial Action costs, tangible or intangible property damage, natural resource damages, nuisance, pollution, any adverse effect on the environment caused by any Hazardous Material, or for fines, penalties or restrictions, resulting from or based upon: (a) the existence, or the continuation of the existence, of a Release (including sudden or non-sudden, accidental or non-accidental Releases); (b) exposure to any Hazardous Material; (c) the presence, use, handling, transportation, storage, treatment or disposal of any Hazardous Material; or (d) the violation or alleged violation of any Environmental Law or Environmental Permit. ENVIRONMENTAL LAW: any and all applicable present and future treaties, laws, statutes, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, Release or threatened Release of any Hazardous Material or to health and safety matters.
CONVENTION STATEMENT means each annual and quarterly financial statement of each Insurance Subsidiary as filed with the appropriate Governmental Authority of its state of domicile, as such form may be amended from time to time pursuant to the requirements of such Governmental Authority.
CONVENTION STATEMENT means the financial statements and accompanying schedules and exhibits filed by any insurance company Subsidiary of the Borrower with its applicable state insurance regulators, substantially in the form heretofore filed by such Person (or such other form as may in the future be required by applicable state insurance regulatory authorities), and prepared in accordance with statutory accounting principles. References to line items on a Convention Statement shall be deemed changed to the appropriate line items in the event of a change on the format of such Convention Statement from that in existence on the date hereof. "Contingent Obligation" shall mean any contractual obligation, contingent or otherwise, of one Person with respect to any Indebtedness, obligation or liability of another, including, without limitation, direct or indirect guaranties, endorsements (except for collection or deposit in the ordinary course of business), notes co-made or discounted, recourse agreements, keep-well agreements, agreements to purchase or repurchase such Indebtedness, obligation or liability or any security therefor or to provide funds for the payment or discharge thereof, agreements to maintain solvency, assets, level of income, or other financial condition, and agreements to make payment other than for value received.
CONVENTION STATEMENT as filed with the California Department of Insurance. The net income of GPIC shall be increased or decreased by the net profit or net loss, respectively, of PMSIS determined pursuant to generally accepted accounting principles, consistently applied. From any amount so determined an amount shall be subtracted equal to the amount of corporate overhead charged by the Company (or its parent or successor, as the case may be)to GPIC and PMSIS; provided, however, for the purposes of such determination of Combined Net Income such corporate overhead shall not exceed four percent (4%) of net earned premium of GPIC for the applicable period and four percent (4%) of the fee income of PMSIS for the applicable period. Such bonus as determined above shall be paid annually as soon as practicable after the Combined Net Income is determined by the Company.