ModCo Account definition

ModCo Account has the meaning set forth in Section 4.1(a).
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ModCo Account shall have the meaning specified in Section 8.01(a).
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ModCo Account shall have the meaning set forth in Section 5.1 of this Agreement.
Sample 1

Examples of ModCo Account in a sentence

  • The ModCo Account and the assets maintained therein will (x) be retained, controlled, owned and maintained by the Ceding Company, (y) be used exclusively for the purposes set forth in this Agreement and (z) be maintained by the Ceding Company in one or more custodial accounts segregated and distinct from the Ceding Company’s other general account assets.

  • The Ceding Company shall own the ModCo Account and the assets maintained therein, and the Reinsurer will not be required to provide reserve credit in respect of any Reinsured Liabilities ceded hereunder on a modified coinsurance basis.

  • The arbitration panel shall only be authorized to adjust the calculation of the ModCo Reserves required to be held in the ModCo Account as of any relevant date of determination to put the Reinsurer in substantially the same economic position it would have been in had the Ceding Company not obtained such permitted practice (with no other damages, including any equitable awards, being permissible).

  • On the Closing Date, the Ceding Company shall deposit Permitted Assets with a Statutory Book Value, as of the Closing Date, equal to $25,331,667,332 into the ModCo Account (the “Initial ModCo Deposit”).

  • On the Closing Date, the Ceding Company shall deposit Permitted Assets with a Statutory Book Value, as of the Closing Date, equal to $638,715,525 into the ModCo Account (the “Initial ModCo Deposit”).

  • On the Closing Date, the Ceding Company shall deposit Permitted Assets with a Statutory Book Value, as of the Closing Date, equal to $5,592,344,817 into the ModCo Account (the “Initial ModCo Deposit”).

  • On the Effective Date, the Ceding Company shall credit to the ModCo Account an amount equal to the ModCo Account Balance as of such date.

  • Payment of the Commutation Amount by the Retrocessionaire shall be made, first, by the Retrocessionaire's permitting the Company to retain the funds withheld under this Agreement (the amount thereof, for the avoidance of doubt, being equal to the Mod-Co Account Balance calculated pursuant to paragraph (1) above) and, second, to the extent that the amount of such funds withheld is less than the Commutation Amount, in cash in immediately available funds.

  • From the Effective Date to and including June 30, 2003, the Company intends (but is not obligated) to waive payment of the Basket of Assets Deficit by the Retrocessionaire (but not to the extent that such deficit is caused by the Mod-Co Account Balance being less than the 100% of the Gross GAAP Benefit Required Amount) in order to permit the Mod-Co Account Balance to grow to the Mod-Co Required Amount by natural accretion.

  • MODIFIED COINSURANCE ACCOUNT 21 Section 5.1. ModCo Account 21 Section 5.2. ModCo Account Funding 21 Section 5.3. ModCo Account Income 21 Section 5.4. ModCo Distribution Amount 22 Section 5.5. Termination of Specified Trust Accounts 22 Section 5.6. Termination Agreement 22 ARTICLE VI.


More Definitions of ModCo Account

ModCo Account has the meaning described in Article IV.
Sample 1

Related to ModCo Account

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Investment Account As defined in Section 3.12(a).

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Separate Accounts means the accounts which are to be prepared for each

  • Holding Account means an account:

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Unallocated Account means the portion of the Trust to which Employer Contributions are made during the Plan Year, in which shares of Company Stock will be held prior to allocation to Participant Accounts, to which dividends paid on such shares of Company Stock will be paid, and from which will be paid expenses of the Plan and Under-Payment Expenses as defined in Section 3.5.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).