Funds Withheld Account Balance definition

Funds Withheld Account Balance has the meaning set forth in the Indemnity Reinsurance Agreement.

Funds Withheld Account Balance means the Statutory Carrying Value of assets in the Funds Withheld Account, as of any date of determination.

Funds Withheld Account Balance means, as of any date of determination, the balance of the Funds Withheld Account after giving effect to the crediting of the Full Crediting Interest Rate pursuant to Section 3.4.

Examples of Funds Withheld Account Balance in a sentence

• On the date during which the applicable Effective Time for such Novated Contracts occurs, the Ceding Company shall transfer to the Assuming Company assets with a Statutory Book Value equal to the Funds Withheld Account Balance or NI Modco Accounts Balance, as applicable, with respect to such Novated Contracts.

• A report showing the Notional Funds Withheld Account Balance as calculated in the FUNDS WITHHELD ACCOUNT ARTICLE (if applicable).

• The Funds Withheld Account Balance shall initially be equal to the Estimated New Reinsurance Premium and the Reinsurer acknowledges that the Estimated New Reinsurance Premium will be held by Aspen on a funds withheld basis as collateral for the performance of the Reinsurer’s obligations hereunder.

• This payment of the Estimated Retrocession Premium shall consist of (i) a deposit of cash equal to the Estimated Net Retrocession Premium by Maiden Insurance, on behalf of the Retrocessionaire, into the Trust Account and (ii) a credit by Maiden Insurance, on behalf of the Retrocessionaire, to the Funds Withheld Account in an amount equal to the Estimated Initial Funds Withheld Account Balance.

• Long-term HD requires repeated access to high-flow circulation, which is most commonly achieved by creation of an arteriovenous fistula on the arm.

More Definitions of Funds Withheld Account Balance

Funds Withheld Account Balance means, at any time, the value of the Funds Withheld Account; provided that upon recapture of this Agreement, the Funds Withheld Account Balance shall be reduced in accordance with Section 7.3.

Funds Withheld Account Balance means, as of any date of determination, the sum of (a) the Statutory Carrying Value of assets in the Funds Withheld Account, including all paid or accrued investment income thereon, plus (b) the amount of any Excess Withdrawal Amount outstanding as of such date plus (c) the sum of all undisputed amounts owing to the Reinsurer under the terms of this Agreement (including amounts owing due to breaches of representations, warranties or covenants or indemnification payments) which have not been paid by the Ceding Company as of such date.

Funds Withheld Account Balance means, as of a given date prior to or on the Amendment Date, the value of the Funds Withheld Account as reflected in the statutory books and records of the Company, and, as of a given date after the Amendment Date but prior to or on the Hedge Termination Date, the amount of the Statutory Book Value of the XX Xxxxxx, in each case, determined in accordance with SAP.

Funds Withheld Account Balance means, as of a given date, the value of the Reinsurance Assets as reflected in the statutory books and records of the Company as of such date, determined in accordance with SAP, plus (b) the amount of any Excess FWA Draw Amount outstanding as of such date, plus (c) the amount of any Excess FWA Draw Interest Amount accrued but unpaid as of such date.

Funds Withheld Account Balance means, as of any date of determination, the balance of the Funds Withheld Account after giving effect to any adjustments thereto provided in Section 8.4. “Funds Withheld Account Balance Average” means, for any calendar quarter, an amount equal to (a)(i) the Funds Withheld Account Balance as of the first day of such calendar quarter, plus (ii) the Funds Withheld Account Balance as of the last day of such calendar quarter, divided by (b) two (2). “Governmental Authority” means any government, political subdivision, court, arbitrator, arbitration panel, mediator, mediation panel, board, commission, regulatory or administrative agency or other instrumentality thereof, whether federal, state, provincial, local or foreign and including any regulatory authority which may be partly or wholly autonomous. “Incident” has the meaning set forth in Section 16.2(e). “Independent Actuary” has the meaning set forth in Section 8.3(a). “Initial Required Collateral Amount” means the amount calculated in accordance with Schedule 3.1

Funds Withheld Account Balance. Means as of the Amended and Restated Effective Date, an amount equal to the result of (a) the Funds Withheld Account Balance from the end of the prior Accounting Period, plus (b) (i) the Net Statutory Reserves associated with the Newly Added Covered Co/YRT Policies, multiplied by (ii) 60%. For any given Accounting Period after the Amended and Restated Effective Date, the Funds Withheld Account Balance at the end of such period shall equal the lesser of (a) the result of (i) the Net Statutory Reserves, multiplied by (ii) the Prior Coinsurance QS; and (b) the result of (i) the Funds Withheld Account Balance from the prior Accounting Period (provided, however, that the end of the first Accounting Period after the Amended and Restated Effective Date shall point to the Funds Withheld Account Balance on the Amended and Restated Effective Date) minus (ii) the corresponding Decrease to the Funds Withheld Account, plus (iii) the Funds Withheld Account Payment.

Funds Withheld Account Balance means, as of any date of determination, the balance of the Funds Withheld Account after giving effect to the crediting of the Full Crediting Interest Rate pursuant to Section 3.4. “Funds Withheld Release Date” means the date on which the Parties agree in writing the Funds Withheld Account Balance shall be released to the Reinsurer, which shall (a) not occur later than September 30, 2025 and (b) be subject to the approval of the Reinsurer and 90 days’ advance written notice in the event that Aspen intends to release the Funds Withheld Account Balance earlier than September 30, 2025. “GAAP” means U.S. generally accepted accounting principles, consistently applied. “GDPR” means means the EU General Data Protection Regulation 2016/679 (“EU GDPR”) as implemented by countries within the EEA and the EU GDPR as retained as law in England and Wales by the European Union (Withdrawal) Act 2018 (as applicable to the processing). “Governmental Authority” means any government, political subdivision, court, arbitrator, arbitration panel, mediator, mediation panel, board, commission, regulatory or administrative agency or other instrumentality thereof, whether federal, state, provincial, local or foreign and including any regulatory authority which may be partly or wholly autonomous and including Lloyd’s. “Incident” has the meaning set forth in Section 16.2(e). “Independent Actuary” has the meaning set forth in Section 8.3(a).