NI Modco Accounts definition

NI Modco Accounts has the meaning set forth in the Indemnity Reinsurance Agreement.
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NI Modco Accounts means the non-insulated separate accounts of the Ceding Company established in respect of NI Modco Accounts Reinsured Contracts.
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Examples of NI Modco Accounts in a sentence

  • Prior to the first Effective Time as to any Novation Subject Contract that constitutes a NI Modco Accounts Reinsured Contract, the Assuming Company shall establish and maintain one or more non-insulated separate accounts to mirror the Ceding Company’s NI Modco Account for such Novation Subject Contracts, and shall allocate to such separate accounts all assets and liabilities with respect to NI ModCo Accounts Reinsured Contracts that become Novated Contracts in accordance with applicable Law.

  • 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.

  • The Parties agree that the retention of the assets in the NI Modco Accounts by the Ceding Company in the NI Modco Accounts is not intended in any way to diminish or dilute the investment risk transferred to the Reinsurer through the calculation of the investment results of the assets in the NI Modco Accounts.

  • In addition, the calculation of the Statutory Book Value of equity securities and Xxxxxx held in the NI Modco Accounts shall include unrealized gains and losses on such equity securities and Xxxxxx.

  • If the amount of the Quarterly Net Settlement for such Quarterly Accounting Period is positive, the Ceding Company (including on behalf of NI Modco Accounts and the Separate Accounts) shall pay such amount in cash to the Reinsurer within five (5) Business Days of its delivery of the final Quarterly Settlement Statement for such period to the Reinsurer.

  • In addition, all interest and other income received in respect of such collateral shall be deposited into the NI Modco Accounts.

  • The Ceding Company will retain, control and own all assets in the NI Modco Accounts.

  • Following the payments described in this Section 4.5(c), the FWH Required Balance and the NI Modco Accounts Required Balance, as applicable, will be adjusted to reflect the novation of the applicable Reinsured Contracts and Assumed Retrocession Agreements and the removal of such contracts and agreements from coverage under this Agreement.

  • For the avoidance of doubt, the NI Modco Accounts Reserves Adjustment may be positive or negative.

  • All investment income (including interest and principal payments, dividends, income on Xxxxxx and realized gains from sales) received on assets held in the NI Modco Accounts shall be deposited and maintained in Eligible Assets in the NI Modco Accounts, thereby increasing the NI Modco Accounts Balance.

Related to NI Modco Accounts

  • Intercompany Accounts has the meaning set forth in Section 2.03(a).

  • Sub-Accounts means the respective Sub-Accounts of the Escrow Account, into which the monies specified in Clause 4.1 would be credited every month and paid out if due, and if not due in a month then appropriated proportionately in such month and retained in the respective Sub Accounts and paid out therefrom on the Payment Date(s).

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

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

  • Management Accounts means, in relation to any Reporting Period, the Franchisee’s management accounts which: (a) comply with paragraph 3.10 of Schedule 13 (Information and Industry Initiatives); and (b) are required to be delivered to the Secretary of State by the Franchisee in accordance with paragraphs 3.2 and 3.3 of Schedule 13 (Information and Industry Initiatives);

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

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

  • Locked Box Accounts means the unaudited accounts of the Group, consisting of a balance sheet as at the Locked Box Date in the Agreed Form;

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Collection Accounts As defined in Section 3.10(a).

  • Intercompany Account means any receivable, payable or loan between any member of the Ensign Group, on the one hand, and any member of the Pennant Group, on the other hand, that exists prior to the Effective Time and is reflected in the records of the relevant members of the Ensign Group and the Pennant Group, except for any such receivable, payable or loan that arises pursuant to this Agreement or any Ancillary Agreement.

  • Last Accounts means the Accounts of the Target Companies in respect of the financial period ended on the Last Accounts Date;

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Series Accounts means, collectively, the Finance Charge Account, the Principal Account, the Principal Accumulation Account, the Distribution Account, the Reserve Account and the Spread Account.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Latest Accounts means, in respect of any financial quarter or year of the Group, the latest unaudited (in respect of each financial quarter) or audited (in respect of each financial year) financial statements required to be prepared pursuant to clause 8.1.6;

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Project Accounts means the Revenue Account, the Operating Account, the Maintenance Capital Expense Account, the Debt Service Reserve Account, the Insurance and Condemnation Proceeds Accounts and the Extraordinary Proceeds Account, including any sub-account within such accounts.

  • Energy Accounts means the regional energy accounts/state energy accounts as specified in the Grid Code issued by the appropriate agency for each Month (as per their prescribed methodology), including the revisions and amendments thereof;

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.