Economic Reserves definition

Economic Reserves has the meaning assigned to it in the Reinsurance Agreement.

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Economic Reserves means, as of any date of determination, the aggregate economic reserves with respect to the Financed Policies, determined in accordance with the methodologies set forth on Schedule 1.1(D).

Economic Reserves for any Quarterly Accounting Period means Economic Reserves determined with respect to the Third Amendment Additional Policies in accordance with the provisions of Annex A-3 to this Amendment No. 3, provided, however, that for purposes of this Annex D-1, Economic Reserves (1) shall include the amount of IMR, if any, attributable to assets included in the initial Economic Reserve Portfolio and created since the date of this Amendment No. 3, and (2) shall be determined as of the Last Day of the Current Quarterly Accounting Period unless otherwise specified in this Annex D-1.

Examples of Economic Reserves in a sentence

• The Actuarial Firm’s determination of the Unresolved Items shall be in accordance with the Reserve Methodology and within the range of Cedent’s and Reinsurer’s disagreement with respect to each Unresolved Item, and the Actuarial Firm shall recalculate the Initial Ceded Total Reserves, the Initial Economic Reserves, the Initial Assumed IMR and the Initial Discounted IMR (as applicable) after giving effect to its resolution of the Unresolved Items.

• If Reinsurer does not deliver a Notice of Disagreement within such thirty (30) day period, then the Initial Ceded Total Reserves, the Initial Economic Reserves, the Initial Assumed IMR and the Initial Discounted IMR shall be deemed to equal the amount provided in Cedent’s Final Reserve Statement.

• LRCVI has obtained the 10­-year LOC from Credit Suisse to collateralize the remaining portion of the XXX Reserves in excess of the Economic Reserves (“Non-Economic Reserves”).

• LRCVI will also be capitalized with the LNL policy premiums and the Economic Reserves.

• The assets supporting the Economic Reserves will be retained by LNL in trust for LRCVI in a Funds Withheld Account segregated and apart from the general account of LNL.

More Definitions of Economic Reserves

Economic Reserves means: (1) for Coverages in the Level Term Period, the Reinsurer’s Quota Share of (A) the present value of future benefits (net of Third Party Reinsurance) plus (B) the present value of future Expense Allowances and Other Obligations less (C) the present value of future premiums (net of Third Party Reinsurance premiums) at assumptions for mortality and lapse documented in the Milliman Report (which assumptions shall not be re-assessed after the Effective Date), 100% lapse at the end of the Level Term Period, and a 5% discount rate; (2) for Coverages not in the Level Term Period, equal to the Reinsurer’s Quota Share of the Statutory Reserves; and (3) for Waiver of Premium Coverages, equal to the Reinsurer’s Quota Share of the Statutory Reserves. Economic Reserves in aggregate are subject to a minimum of the Reinsurer’s Quota Share of the Statutory Reserves on the Waiver of Premium Coverages, and a maximum of the Reinsurer’s Quota Share of the Statutory Reserves for the Reinsured Liabilities.

Economic Reserves means, as of any date of determination, the general account economic reserves with respect to the Covered Insurance Policies as of such date without netting any reserves ceded to reinsurers under the Existing Reinsurance Agreements or the Reinsurer Existing Reinsurance Agreements, as determined by the Reinsurer in accordance with the methodologies and assumptions set forth on Schedule 1.1(E) consistently applied; provided that the term "Economic Reserves" shall not include reserves with respect to any Covered Insurance Policies reinsured on a coinsurance basis under any Underlying Reinsurance Agreement for which the Ceding Company holds the Trust Withheld Assets.

Economic Reserves means, as of any date of determination, the general account economic reserves with respect to the Covered Insurance Policies as of such date without netting any reserves ceded to reinsurers under the Existing Reinsurance Agreements or the Reinsurer Existing Reinsurance Agreements, as determined by the Reinsurer in accordance with the methodologies and assumptions set forth on Schedule 1.1(E) consistently applied.

Economic Reserves means, as of any date of determination, economic reserves as described in the Accounting Principles.

Economic Reserves shall not include reserves with respect to any Covered Insurance Policies reinsured on a coinsurance basis under any Underlying Reinsurance Agreement for which the Ceding Company holds the Trust Withheld Assets.

Economic Reserves means, as of any date of determination, an amount equal to the greater of (a) zero and (b) an amount calculated by the Reinsurer in accordance with the accounting and actuarial practices of the Reinsurer, consistently applied.

Economic Reserves has the meaning set forth in Exhibit VIII.