Reserves Adjustment definition

Reserves Adjustment has the meaning set forth in Section 2(d)(v) below.
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Reserves Adjustment means, as of any date, an amount equal to 65% of the difference between (a) the Independent Actuary’s indicated amount of the Company Insurance Subsidiaries’ net loss and loss adjustment expense reserves on a combined statutory basis as of the end of the period covered by the Company’s most recent periodic report on Form 10-Q or 10-K as reflected in the Reserves Summary as of the end of such period or as set forth on the most recent Reserves Summary if a Reserves Summary as of the end of such period has not been delivered as of such date (less the amount of the most recent Independent Actuary’s Cut-Through Estimate), and (b) the aggregate amount of the Company Insurance Subsidiaries’ net losses and loss adjustment expense reserves on a combined statutory basis as of the end of the period covered by the Company’s most recent periodic report on Form 10-Q or 10-K as reflected on the statement of liabilities, surplus and other funds in the Company Statutory Financial Statements as of the end of such period (less the amount of the Company’s Cut-Through Reserves as of the end of such period), provided that if such difference is a negative number then the Reserves Adjustment shall be deemed to be zero; and (vii) “Permitted Commutations” means, collectively (a) any commutation to the extent permitted under Section 5.1.9 and (b) any commutation expressly permitted by Parent. An example of the calculation of Company Stockholders’ Equity is attached as Exhibit D.
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Examples of Reserves Adjustment in a sentence

  • Sellers acknowledge the strict confidential nature of the DI Reserves Information and hereby agree that any information prepared in connection with or in any way relating to Sellers' review and examination of the DI Reserves Information shall be kept confidential in accordance with Section 9.5 of this Agreement, except as may otherwise be necessary in connection with the Reserves Adjustment to take place on the fifth anniversary of the Closing Date in accordance with Section 2.4 of this Agreement.

  • The Initial Modco Reserves Adjustment shall be calculated and paid in accordance with Article VI.

  • The Monthly Maintenance Reserves Amount for each Maintenance Item shall be adjusted annually by the Annual Maintenance Reserves Adjustment applicable to such Maintenance Item, commencing on January 1, 2012 and on January 1 of each year of the Lease Term thereafter, as an agreed inflation adjustment.

  • The NI Modco Accounts Reserves Adjustment in respect of each Quarterly Accounting Period shall be settled in accordance with Section 3.3.

  • The "Initial Modco Reserves Adjustment" -------------------------------- shall consist of an amount equal to the Modco Reserves as of the Effective Date.

  • For the avoidance of doubt, the Funds Withheld Reserves Adjustment could be either positive or negative.

  • Rent 11 5.1 Basic Rent 11 5.2 Accounts and Prorating of Payments 11 5.3 Supplemental Rent 11 5.4 Security Deposit and Security Deposit LC 12 5.5 Return of Security Deposit and Security Deposit LC 13 5.6 Maintenance Reserves Payments 13 5.7 Reimbursement of Maintenance Reserves Payments 16 5.8 Maintenance Reserves Adjustment 18 Section 6.

  • Each quarterly settlement report shall reflect the Funds Withheld Reserves Adjustment and the Quarterly Settlement Amount.

  • The Terminal Settlement shall be calculated as follows: (i) The Ceding Company or the Reinsurer, as applicable, shall pay to the other Party the Funds Withheld Reserves Adjustment and the Quarterly Settlement Amount calculated for the Accounting Period ending on the Terminal Accounting Date in accordance with Section 5.2(c) and the Funds Withheld Reserves Adjustment shall be withdrawn from or deposited to the Funds Withheld Account, as applicable, in accordance with Section 5.2(c).

  • PURCHASE OF THE SHARES 14 SECTION 2.1. Purchase and Sale 14 SECTION 2.2. Transferred IP 15 SECTION 2.3. Closing; Closing Date 16 SECTION 2.4. Closing Deliveries 16 SECTION 2.5. Determination of Closing Date Book Value 17 SECTION 2.6. Net Reserves Adjustment 19 ARTICLE III.

Related to Reserves Adjustment

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

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

  • 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.

  • 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:

  • SOFR Adjustment means 0.10% (10 basis points).

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

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

  • 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;

  • Purchase Price Adjustment shall have the meaning specified in Section 3.02.

  • Final Adjustment Amount shall have the meaning set forth in Section 2.5(e).

  • Price Adjustment means any and all price reductions, offsets, discounts, rebates, adjustments, and or refunds which accrue to or are factored into the final net cost to the hospital outpatient department or ambulatory surgical center.

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

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

  • Basis Adjustment means a portion of the tax basis of an Original Asset, equal to the Basis Adjustment attributable to such Original Asset immediately prior to such Section 732 Event, including, for this purpose, any increase in the basis of an Original Asset pursuant to Section 1012 of the Code and Revenue Ruling 99-6, 1999-1 C.B. 432, due to an Exchange that causes the Partnership to become an entity that is disregarded as separate from its owner for tax purposes.

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

  • Purchase Price Adjustment Escrow Amount means $3,000,000.

  • 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.

  • Estimated Working Capital Adjustment means the amount by which the Estimated Working Capital is greater or less than the Base Working Capital, any such excess amount being treated as a positive number and any shortfall being treated as a negative number;

  • 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.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Cost of Living Adjustment means the percentage (if any) by which the Consumer Price Index for the month of October preceding the adjustment ex- ceeds the Consumer Price Index for the month of October one year before the month of October preceding date of the adjustment.

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

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii). Section 1.2

  • Working Capital Adjustment shall have the meaning set forth in Section 3.5(c)(i).