Funds Withheld Adjustment definition

Funds Withheld Adjustment shall have the meaning set forth in Section 10.03.
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Funds Withheld Adjustment shall be calculated for each Accounting Period as [(1) – (2)], where:
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Funds Withheld Adjustment means, as of any date of determination, an amount equal to (a) Ceded Reserves minus (b) the Statutory Carrying Value of assets held in the Funds Withheld Account minus (c) the market value of assets held in any Reinsurance Trust minus (d) the amount available under outstanding Letters of Credit minus (e) any amounts due and unpaid by the Ceding Company under Sections 8.03(a), (b) or (c).
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Examples of Funds Withheld Adjustment in a sentence

  • Within [REDACTED] Business Days of the Closing Date of this Agreement, the Ceding Company shall deliver a report to the Reinsurer setting forth the Initial Consideration, Initial Modified Coinsurance Adjustment, Initial Funds Withheld Adjustment and the Net Initial Consideration.

  • If the Funds Withheld Adjustment for the Accounting Period is a positive amount, the Ceding Company shall owe such amount to the Reinsurer.

  • On the Closing Date, the Ceding Company shall allocate to the General Account Portfolios and the [REDACTED] assets mutually determined by the Parties with an aggregate Book Value equal to the sum of the Initial Modified Coinsurance Adjustment plus the Initial Funds Withheld Adjustment.

  • If the Funds Withheld Adjustment for the Accounting Period is a negative amount, the Reinsurer shall owe the absolute value of such amount to the Ceding Company.

  • Amounts due between the Parties for each Accounting Period in respect of Reinsurance Consideration, Reinsurance Expense Allowance, Reinsurance Benefits, the Modified Coinsurance Adjustment, the Funds Withheld Adjustment, [REDACTED] and any other amounts due between the Parties, including adjustments for previously estimated items and preliminary settlements, shall be determined on a net basis as reported by the Ceding Company on the Accounting Report.

  • Annuity Reinsurance Agreement Effective October 1, 2021 Page 13 Assets or Modified Coinsurance Assets and shall cease to be included in the computation of the Funds Withheld Adjustment or Modified Coinsurance Adjustment; and (iii) the Reinsurer shall have no liability or obligation with respect to any disbursements from or interest to be credited to any retained asset account established by the Ceding Company in respect of the Business Reinsured.

  • Amounts due between the Parties for each Accounting Period in respect of Reinsurance Consideration, Reinsurance Expense Allowance, Reinsurance Benefits, the Modified Coinsurance Adjustment, the Funds Withheld Adjustment, the [REDACTED] , the [REDACTED] and any other amounts due between the Parties, including adjustments for previously estimated items and preliminary settlements, shall be determined on a net basis as reported by the Ceding Company on the Accounting Report.

  • Within forty-five (45) days after the end of each Accounting Period, the Ceding Company will pay to the Reinsurer any positive Funds Withheld Adjustment for the Accounting Period as per Article VI - Funds Withheld, Section 7.

  • Within twenty (20) Business Days following the Recapture Effective Time, the Ceding Company shall deliver to the Reinsurer a final Monthly Accounting Report setting forth the final Monthly Settlement Amount and final Funds Withheld Adjustment as of the Recapture Effective Time (collectively, the “Terminal Accounting Report”).

  • The final Monthly Settlement Amount and final Funds Withheld Adjustment set forth in such Terminal Accounting Report shall be paid in accordance with Section 7.03 (which, for the avoidance of doubt, shall include any amounts to be released from the Post-Effective Time IMR during such final Monthly Accounting Period).


More Definitions of Funds Withheld Adjustment

Funds Withheld Adjustment means the amount set forth in the applicable Monthly Accounting Report indicated in such Monthly Accounting Report as “Total net settlement due to reinsurer” or “Letter L”.
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Funds Withheld Adjustment means (i) as of any date of determination prior to the Trust Effective Date, an amount equal to (a) the Ceded Reserves plus IMR as of such date minus (b) the Contract Loan Balance as of such date, plus (c) without duplication of amounts included in the calculation of the Ceded Reserves, claims pending or in the course of settlement under Reinsured Policies, plus (d) the Overcollateralization Amount as of such date, minus (e) the sum of the Statutory Carrying Value of the assets maintained in the Funds Withheld Account plus, without double counting, the Amortized Cost of Index Options, in each case as of such date, plus any amounts withdrawn from the Funds Withheld Account by the Ceding Company that are required to be returned to the Funds Withheld Account in accordance with this Agreement and any interest accrued thereon, minus (f) any amounts due and unpaid by the Ceding Company under Section 7.03(a), and (ii) as of any date of determination from and after the Trust Effective Date, an amount equal to (a) the Ceded Reserves plus IMR as of such date, minus (b) the Contract Loan Balance as of such date, plus (c) without duplication of amounts included in the calculation of the Ceded Reserves, claims pending or in the course of settlement under Reinsured Policies, minus (d) the sum of the Statutory Carrying Value of the assets maintained in the Funds Withheld Account plus, without double counting, the Amortized Cost of Index Options, in each case as of such date, plus any amounts withdrawn from the Funds Withheld Account or the Trust Account by the Ceding Company that are required to be returned to the Funds Withheld Account or the Trust Account in accordance with this Agreement and any interest accrued thereon, minus (e) any amounts due and unpaid by the Ceding Company under Section 7.03(a), in the case of (i) and (ii) calculated after giving effect to the settlement of the applicable Monthly Net Settlement Amount in accordance with Section 7.03(a)[*].
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Related to Funds Withheld Adjustment

  • Spread Adjustment means 100 basis points.

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to the Closing Net Working Capital as finally determined pursuant to this Section 2.9 minus the Preliminary Net Working Capital as set forth on the Preliminary Closing Statement;

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Credit Adjustment shall have the meaning specified in Section 3.02.

  • Estimated Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Related Adjustment means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined by the Administrative Agent applicable to such LIBOR Successor Rate:

  • Open Market Adjustment Amount shall have the meaning specified in Section 2(I).

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Tax Adjustment has the meaning set forth in Section 4.7.

  • Adjustment Amount For any Distribution Date, the difference between (A) the sum of the Class A Principal Balance and the Class B Principal Balance as of the related Determination Date and (B) the sum of (i) the sum of the Class A Principal Balance and the Class B Principal Balance as of the Determination Date succeeding such Distribution Date and (ii) the aggregate amount that would have been distributed to all Classes as principal in accordance with Section 4.01(a) for such Distribution Date without regard to the provisos in the definitions of Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal Principal Amount and Class B-6 Optimal Principal Amount.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event has occurred, the date on which the first of such events occurred).

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Closing Adjustment has the meaning set forth in Section 2.04(a)(ii).

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

  • Working Capital Adjustment Amount means an amount, which may be positive or negative, calculated in accordance with Schedule C, equal to the difference of (a) the Closing Date Adjusted Working Capital minus (b) the Preliminary Adjusted Working Capital.

  • Adjustment Escrow Amount means $1,000,000.

  • Lot line adjustment means the relocation of the property boundary line in a

  • Final Adjustment has the meaning set forth in Section 10.3.B(2) hereof.

  • Financing Costs Adjustment Date means each of the following days:

  • Interest Adjustment Rate means the interest adjustment rate assigned to the Security. The initial Interest Adjustment Rate is the interest adjustment rate specified in the Table (the "Initial Interest Adjustment Rate").The Issuer may adjust, in its reasonable discretion pursuant to §315 BGB and in consideration of the relevant capital market practice and by acting in good faith (including market interest rates and the interest-rate expectations of the market), the Interest Adjustment Rate, including the Initial Interest Adjustment Rate, on any Scheduled Trading Day within the range (deviation (+) or (-)) specified in the Table for any given Security. The adjusted rate will be published without undue delay in accordance with §12.