IRIS Tests definition

IRIS Tests means the ratios and other financial measurements developed by the NAIC under its Insurance Regulatory Information System or, in lieu thereof, any successor or other substantially similar guidelines intended to measure the financial performance of companies in the property and casualty insurance industry, as the same shall be in effect from time to time.
Sample 1Sample 2Sample 3
IRIS Tests means the ratios and other financial measurements developed by the NAIC under its Insurance Regulatory Information System or, in lieu thereof, any successor thereto, replacement thereof or substitute implemented by the NAIC. "LIBOR RATE" shall mean, with respect to any Fixed Rate Loan which is to bear interest at the Applicable LIBOR Rate, the rate for the applicable Interest Period shown on Page 3750 of the Telerate screen for the corresponding deposits of U.S. dollars two Eurodollar Business Days prior to the first day of such Interest Period, or, if such Telerate quote is not available, the rate at which deposits in immediately available U.S. dollars in an amount equal to the amount of such Fixed Rate Loan having a maturity approximately equal to such Interest Period are offered to the Lender in the London interbank market, at approximately 11:00 a.m. (London time) two Eurodollar Business Days prior to the first day of such Interest Period, adjusted, in any case, for any and all assessments, surcharges and reserve requirements pertaining to the purchase by the Lender of such U.S. dollar deposits. "LIEN" shall mean any security interest, mortgage, pledge, lien, claim on property, charge or encumbrance (including any conditional sale or other title retention agreement), any lease in the nature thereof, and the filing of or agreement to give any financial statement under the Uniform Commercial Code of any jurisdiction. "LOANS" shall mean, as applicable, the Revolving Loans and the Term Loan and shall also be deemed to refer to Reference Rate Loans and Fixed Rate Loans.
Sample 1

Examples of IRIS Tests in a sentence

  • Within one hundred fifty (150) days of Borrower’s fiscal year end, a copy of the final report to each Insurance Subsidiary from the NAIC as to such Insurance Subsidiary’s status under the IRIS Tests.

  • As soon as received after the end of each Fiscal Year of each Insurance Subsidiary, a copy of the final report to such Insurance Subsidiary from the NAIC as to such Insurance Subsidiary's status under the IRIS Tests.

  • As soon as received after the end of each Fiscal Year of each Insurance Subsidiary, a copy of the final report to such Insurance Subsidiary from the NAIC as to such Insurance Subsidiary’s status under the IRIS Tests.

Related to IRIS Tests

  • Start-Up Testing means the completion of applicable required factory and start-up tests as set forth in Exhibit C.

  • Commissioning test means tests applied to the Generating Facility, after completion of the construction of the Generating Facility, in order to verify that the Generating Facility may be released for Operation.

  • Commissioning Tests means all of the procedures and tests which, in accordance with the Reasonable and Prudent Standard, and in compliance with industry guidelines, practices and standards, are:

  • Operational Acceptance Tests means the tests specified in the Technical Requirements and Agreed Project Plan to be carried out to ascertain whether the System, or a specified Sub system, is able to attain the functional and performance requirements specified in the Technical Requirements and Agreed Project Plan, in accordance with the provisions of GCC Clause 27.2 (Operational Acceptance Test).

  • Performance Tests means the tests to be conducted on the equipment at site for checking the performance parameters of the equipment as defined in Technical Specification.

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Penetration Testing means security testing in which assessors mimic real-world attacks to identify methods for circumventing the security features of an application, system, or network. (NIST SP 800-115)

  • Test means such test as is prescribed by the particulars or considered necessary by the Inspecting Officer whether performed or made by the Inspecting Officer or any agency acting under the direction of the Inspecting Officer;

  • LCT Test Date shall have the meaning provided in Section 1.12(b).

  • Asset Test means, for an Asset Review, each Test, as defined in the Asset Representations Review Agreement, in Schedule A to the Asset Representations Review Agreement to be performed by the Asset Representations Reviewer on the related Asset Review Receivables.

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

  • Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.