Surplus Notes has the meaning assigned to it in Section 6.01(bb).
Surplus Notes of AICI means all notes evidencing obligations of AICI which may from time to time be issued by AICI and which under SAP in effect on the date of this Agreement would be included in the “Liabilities, Surplus and Other Funds” statement of AICI’s Annual Statement.
Surplus Notes means surplus or contribution notes (or other similar securities that are preferred to common or preferred equity but junior in right of payment to indebtedness (other than surplus notes) and policy obligations), issued by AAC out of the General Account in the case of the AAC Surplus Notes or out of the General Account or the Segregated Account in the case of any other such surplus or contribution notes (or other such similar securities), including the Other Seg Account Policy Notes, the SL Surplus Notes and the RMBS Surplus Notes.
Examples of Surplus Notes in a sentence
Surplus notes are recognized by the commissioner for both stock and mutual insurers.
Surplus notes are reported as surplus rather than as liabilities as would be required under GAAP.
Surplus notes, capital notes or contribution notes or similar obligations, premium refunds on assessable policies, and any other claims specifically assigned to this class.
Surplus notes, capital notes or contribution notes or similar obligations, and premium refunds on assessable policies, and any other claims specifically assigned to this class.
Surplus Notes Surplus notes are reported as surplus rather than as liabilities as would be required under GAAP.
More Definitions of Surplus Notes
Surplus Notes means surplus notes issued in accordance with Section 1307 of the New York Insurance Law and which are payable only out of free and divisible surplus with the prior approval of the Department.
Surplus Notes means the 5.1% Surplus Notes issued by AAC on June 7, 2010.
Surplus Notes means the 5.1% Surplus Notes issued on June 7, 2010 issued by the Ambac Note Issuer (CUSIP # 000000XX0).
Surplus Notes means any surplus notes issued by the Segregated Account, other than the Junior Surplus Notes.
Surplus Notes means unsecured notes or debentures or contribution certificates issued by an insurance company that (i) are subordinated to policyholders and senior indebtedness of such insurance company, (ii) are subordinated to the indebtedness under this Agreement, on terms and conditions reasonably satisfactory to the Administrative Agent, (iii) require the prior approval of the insurance department of the issuer’s state of domicile for the payment of principal or interest, and (iv) receive equity treatment for all or a portion of the principal amount thereof under SAP.
Surplus Notes has the meaning set forth in Section 2.3(f).
Surplus Notes means the Beneficiary's $503 million Surplus Notes due April 1, 2042, presently outstanding in the amount of $499 million.