Reserve Credit means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in the Ceding Company’s Statutory Financial Statements required to be filed by the Ceding Company with the Governmental Authority charged with supervision of insurance companies in the Ceding Company Domiciliary State.
Reserve Credit shall have the meaning set forth in Section 10.01.
Reserve Credit means full reserve credit for the reinsurance ceded to the Reinsurer under this Agreement in the Statutory Financial Statements required to be filed by the Company with the Commissioner of Insurance of the State of Nebraska.
Examples of Reserve Credit in a sentence
At all times during the term of this Agreement, the Reinsurer shall hold and maintain all licenses and authorizations required under Applicable Law and otherwise take all action that may be necessary (i) so that the Ceding Company may receive Reserve Credit, and (ii) to perform its obligations hereunder.
The parties will provide prompt notice of the occurrence of any Reserve Credit Event.
The Reinsurer shall promptly notify the Ceding Company of any event or change in its licensing status in the Ceding Company Domiciliary State or other conditions that would be reasonably likely to result or have resulted in any loss of, or impairment to, Reserve Credit.
This paragraph does not apply to Reserve Credit Accounts; see the following paragraph for details on Reserve Credit Accounts.
The assets held in the Reserve Credit Trust Account shall be valued at their fair market value as of the date on which such assets are required to be valued in respect of each Accounting Period.
More Definitions of Reserve Credit
Reserve Credit shall have the meaning specified in the Reinsurance Agreement.
Reserve Credit means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in the Ceding Company’s Statutory Financial Statements required to be filed by the Ceding Company with the Governmental Authority charged with supervision of insurance companies in the Ceding Company Domiciliary State; provided, however, that the Reinsurer shall not be required to provide statutory financial statement credit for Reinsured Contracts issued outside the United States; and provided, further, that the Reinsurer’s obligation to provide statutory financial statement credit with respect to Reinsured Contracts that are structured settlement annuities shall be limited to the amount of credit calculated in accordance with Section 6(a) of Actuarial Guideline IX-B promulgated by the National Association of Insurance Commissioners.
Reserve Credit means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement or under any other reinsurance agreement in the Company’s NAIC Annual Statement Blank, in all statutory financial statements required to be filed with any governmental body charged with supervision of insurance companies in all United States jurisdictions in which the Company is licensed, authorized or accredited to transact business, and all consolidated financial statements required to be filed by the Company or its affiliates with any governmental body charged with supervision of insurance companies in Canada and its provinces.
Reserve Credit means the amount of any reserves or other funds held for the benefit of Landlord or the issuer of the Bonds and not yet credited as of Closing, including, without limitation, any debt service reserve fund included in Approved Landlord Costs.
Reserve Credit shall have the meaning specified in the Coinsurance Agreement.
Reserve Credit means full statutory financial statement credit for the reinsurance ceded to the Grantor under the Reinsurance Agreement in the Beneficiary's NAIC Annual Statement Blank and in all statutory financial statements of the Beneficiary required to be filed with the Governmental Body charged with supervision of insurance companies in the State of Connecticut. The term "Reserve Credit Event" means any event that would cause the Beneficiary to not be permitted to receive Reserve Credit on any of its statutory financial statements provided that such event has not been remedied prior to the last calendar day of the calendar quarter in which such event occurs. The term "S&P" shall mean Standard & Poor's Ratings Services, a Standard & Poor's Financial Services LLC business, or any successor thereto. The term "Security Entitlement" shall mean "security entitlement" as defined in the UCC. The term "Statutory Book Value" shall mean, with respect to any Eligible Asset, the dollar amount thereof stated on the statutory financial statements as admitted assets of the Grantor, as determined in accordance with the statutory accounting requirements in the Grantor's state of domicile, but disregarding any prescribed or permitted practices applicable to the Grantor. The term "Termination Date" shall have the meaning specified in Section 12(b) of this Agreement. The term "Termination Notice" shall have the meaning specified in Section 12(b) of this Agreement. The term "Third Party Appraiser" shall mean a nationally recognized independent appraisal firm which is mutually acceptable to the Grantor and the Beneficiary or, if the Grantor and the Beneficiary are unable to agree on such an appraisal firm, an independent appraisal firm selected by mutual agreement of the Grantor's and the Beneficiary's independent accountants. The term "Triggering Event" shall mean means either of the following occurrences: (a) the Grantor's RBC Ratio falls below 300% as of a quarter-end and the Grantor has not cured such shortfall as of the applicable RBC Reporting Deadline; provided, that in the event there is a material change in the factors and formulae prescribed by the insurance regulatory authority in the Grantor's state of domicile with respect to the components of and methodologies contained in such calculation, the parties hereto shall amend this Agreement to incorporate an alternate calculation that is reasonably equivalent to the components of and methodologies contained in the calculation of...
Reserve Credit means full statutory financial statement credit for the reinsurance ceded to the Reinsurer under this Agreement in the Ceding Company’s Statutory Financial Statements required to be filed by the Ceding Company with the Governmental Entity charged with supervision of insurance companies in the Ceding Company Domiciliary State. “Reserve Credit Event” means the failure of the Ceding Company to receive Reserve Credit due to the failure of the Reinsurer (a) to remain licensed or accredited in the Ceding Company Domiciliary State or (b) to take all other actions so that the Ceding Company may obtain reserve credit within the time provided under and in accordance with Section 6.1. “SAP” means, with respect to either Party, the statutory accounting principles prescribed or permitted by the Insurance Regulator for the jurisdiction in which such insurance company is domiciled, consistently applied. “Security Funding Reporting Date” shall have the meaning set forth in Section 6.8(a). “Security Incident” shall have the meaning set forth in Section 6.8(a).