Terminal Settlement definition

Terminal Settlement has the meaning set forth in Section 8.4.
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Terminal Settlement has the meaning set forth in Section 9.03(b).
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Terminal Settlement has the meaning set forth in Section 8.4(a). “Terminal Settlement Statement” has the meaning set forth in Section 8.4(a).
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Examples of Terminal Settlement in a sentence

  • If the amount of the Terminal Settlement for the Terminal Accounting Period is negative, the Reinsurer shall pay the absolute value of such amount to the Ceding Company at the time it delivers the Terminal Settlement Statement to the Ceding Company.

  • If the amount of the Terminal Settlement for the Terminal Accounting Period is positive, the Ceding Company shall pay such amount to the Reinsurer within five (5) calendar days of its receipt of the Terminal Settlement Statement.

  • At Terminal Settlement, the Reinsurer will ------------------------ transfer the Terminal CARVM Allowance on the annuities reinsured as of the terminal account date.

  • If the amount of the Net Settlement for the Terminal Accounting Period is negative, the Reinsurer shall pay the absolute value of such amount to the Company at the time it delivers the Terminal Settlement Statement to the Company.

  • In connection therewith, the Ceding Company shall deliver to the Reinsurer, within forty-five (45) calendar days following the Recapture Effective Date, a statement (the “Terminal Settlement Statement”) setting forth the Ceding Company’s computation of the Terminal Settlement, including a good faith calculation of the Embedded Value Payment.

  • If the amount of the Net Settlement for the Terminal Accounting Period is positive, the Company shall pay such amount to the Reinsurer within five (5) calendar days of its receipt of the Terminal Settlement Statement.

  • If the Embedded Value Payment is negative, the absolute value of such negative amount shall be paid by the Reinsurer to the Ceding Company as part of the Terminal Settlement.

  • In addition, following the payment of the Terminal Settlement, the Trust Account shall be terminated and any remaining amounts or amount held in trust pursuant to Article VIII shall be released to the Reinsurer after the full satisfaction of the Terminal Settlement pursuant to the Terminal Settlement Statement.

  • For the avoidance of doubt, no Reinsurer shall be liable for any other Reinsurer's quota share percentage of the Company's liability under the Policy, for any late payment fees attributable to another Reinsurer, or any Terminal Settlement Amount or True-Up Amount payable by any other Reinsurer, as applicable.

  • The Third Party Accountant’s or Third Party Actuary’s, as applicable, determination of the Terminal Settlement shall be final and binding upon the Parties.


More Definitions of Terminal Settlement

Terminal Settlement has the meaning set forth in SECTION 8.4.
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Terminal Settlement shall have the meaning specified in Section 8.03(a).
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Terminal Settlement has the meaning set forth in Section 7.4. "Terminal Settlement Statement" has the meaning set forth in Section 7.4. "Third Party Appraiser" means a nationally recognized independent appraisal firm which is mutually acceptable to the Reinsurer and the Ceding Company or, if the Reinsurer and the Ceding Company are unable to agree on such an appraisal firm, an independent appraisal firm selected by mutual agreement of the Reinsurer's and the Ceding Company's independent accountants. "Third-Party Claim" has the meaning set forth in Section 8.3(a). "Total Adjusted Capital" means, with respect to any insurance company, its total adjusted capital as calculated in accordance with the most current formula for calculating such amount adopted by the insurance regulatory authority in such insurance company's state of domicile. "Transaction Agreements" means the Purchase Agreement and each of the Ancillary Agreements other than this Agreement. "Treasury Regulations" means the Treasury Regulations (including temporary and proposed Treasury Regulations) promulgated by the United States Department of Treasury with respect to the Code or other United States federal Tax statutes. "Triggering Event" means either of the following occurrences: (a) the Reinsurer's RBC Ratio falls below 300% as of a quarter-end and the Reinsurer 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 Reinsurer's state of domicile with respect to the components of and methodologies contained in such calculation, the Parties shall amend this Agreement to incorporate an alternate calculation that is reasonably equivalent to the components of and methodologies contained in the calculation of the Reinsurer's RBC Ratio in effect as of the Effective Time within thirty (30) calendar days after the implementation of such change, and if the Parties cannot agree on any such alternative, the Reinsurer shall continue to calculate its RBC Ratio as if such material change had not occurred; or 10 <Page> (b) at any time following a Trust Withdrawal Event, the financial strength rating of the Reinsurer falls below "BBB" as rated by S&P and "Baa2" as rated by Moody's. 11 <Page> "Trust Account" means the reserve trust account established by the Reinsurer and the Ceding Company for the benefit of the Ceding Company under the Trust Agreement. "Trust Agreement" me...
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Terminal Settlement has the meaning set forth in Section 9.4(a). “Terminal Settlement Date” has the meaning set forth in Section 9.3(b). “Terminal Settlement Statement” has the meaning set forth in Section 9.4(a). “Termination Date” has the meaning set forth in Section 9.3(b). “Termination Event” means any failure by the Ceding Company (or any successor by operation of law of the Ceding Company, including, but not limited to, any receiver, liquidator, rehabilitator, conservator or similar Person of the Ceding Company) to pay any material amount
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Terminal Settlement shall have the meaning specified in the Reinsurance Agreement. The term “Termination Date” shall have the meaning specified in Section 10(b) of this Agreement. The term “Termination Notice” shall have the meaning specified in Section 10(b) of this Agreement. The term “Trust Account” shall have the meaning specified in the recitals. The term “Trustee” shall have the meaning specified in the preamble. The term “Withdrawal Notice” shall have the meaning specified in Section 2(c) of this Agreement. The term “Withdrawing Party” shall have the meaning specified in Section 2(c) of this Agreement.
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Related to Terminal Settlement

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Final Settlement Date has the meaning set forth in Section 2.4(c).

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Final Settlement Statement has the meaning set forth in Section 2.6(b).

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • Call Settlement Date means the fifth Business Day following the last Index Business Day in the Call Measurement Period.

  • Gross Settlement Amount means $240,000 which is the total amount Standard agrees to pay under the Settlement, except as provided in Paragraph 8 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour.

  • Termination Settlement Date means, for any Terminated Obligation, the date customary for settlement, substantially in accordance with the then-current market practice in the principal market for such Terminated Obligation (as determined by the Calculation Agent), of the sale of such Terminated Obligation with the trade date for such sale occurring on the related Termination Trade Date.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Master Settlement Agreement means the settlement agreement and related documents entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers.

  • Combination Settlement shall have the meaning specified in Section 14.02(a).

  • Energy Settlement Area means the bus or distribution of busses that represents the physical location of Network Load and by which the obligations of the Network Customer to PJM are settled.

  • Cash Settlement Date means, for each Financially Settled Futures Transaction, the Business Day determined by Exchange from time to time in accordance with industry practice for such Transaction, as posted on Exchange’s Website not less than one month prior to the occurrence of such date, other than Invoices issued as a result of a Contracting Party’s Default or under the Close- out Procedure which amounts require payment immediately;

  • Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.

  • Cash Settlement Averaging Period means (a) with respect to any Conversion Date occurring on or after the 24th Scheduled Trading Day immediately preceding the Maturity Date, the twenty (20) consecutive Trading Day period ending on, and including, the third Scheduled Trading Day immediately preceding the Maturity Date and (b) in all other cases, the twenty (20) consecutive Trading Day period beginning on, and including, the third Trading Day immediately following the relevant Conversion Date.

  • Physical Settlement Amount For any Settlement Date for which Physical Settlement is applicable, an amount in cash equal to the product of (a) the Forward Price in effect on the relevant Settlement Date multiplied by (b) the Settlement Shares for such Settlement Date.

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

  • Net Share Settlement means the settlement method pursuant to which an exercising Warrantholder shall be entitled to receive from the Company, for each Warrant exercised, a number of shares of Common Stock equal to the Net Share Amount without any payment therefor.

  • Early Settlement Amount has the meaning specified in Section 5.9(a).

  • Daily Settlement Amount for each of the 40 consecutive Trading Days during the Observation Period, shall consist of:

  • Retail Settlement Code means the code approved by the Board and in effect at the relevant time, which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and customers and provides for tracking and facilitating customer transfers among competitive retailers;

  • Net Share Settlement Amount For any Settlement Date, an amount equal to the product of (i) the number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike Price Differential for the relevant Valuation Date and (iii) the Warrant Entitlement.

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.