VA Adjustment Amount definition

VA Adjustment Amount means, at any date, an amount equal to the GMxB accounting asymmetry portion of the “Variable annuity product features” adjustments set forth under “Non-GAAP Operating Earnings” in the notes to the financial statements of the Guarantor and its Consolidated Subsidiaries for the fiscal quarter ended March 31, 2021 plus such amount for each subsequent fiscal quarter for which financial statements have been delivered to the LC Issuer in accordance with Section 5.01, on a cumulative basis and without duplication; provided that such adjustments shall be determined in a manner substantially consistent with past practice as reflected in the calculation for the fiscal quarter ended March 31, 2021 that was provided to the LC Issuer prior to the Effective Date. The VA Adjustment Amount may be a positive value (in which case it shall increase Adjusted Consolidated Net Worth) or negative value (in which case it shall reduce Adjusted Consolidated Net Worth) or zero.
Sample 1Sample 2Sample 3
VA Adjustment Amount means, at any date, an amount equal to the GMxB accounting asymmetry portion of the “Variable annuity product features” adjustments set forth under “Non-GAAP Operating Earnings” in the Investor Presentation for the fiscal quarter ended March 31, 2021 plus such amount for each subsequent fiscal quarter (i) for which financial statements have been delivered to the Banks in accordance with Section 5.01 and (ii) where the calculation of such amount has been publicly reported by the Company pursuant to Section 5.01(c)(ii), on a cumulative basis and without duplication; provided that such adjustments shall be determined in a manner substantially consistent with past practice as reflected in the calculation for the fiscal quarter ended March 31, 2021 set forth in the Investor Presentation. The VA Adjustment Amount may be a positive value (in which case it shall increase Adjusted Consolidated Net Worth) or negative value (in which case it shall reduce Adjusted Consolidated Net Worth) or zero.
Sample 1Sample 2
VA Adjustment Amount means, at any date, an amount equal to the sum of (a) the change in carrying value of variable annuity rider liabilities, which for avoidance of doubt will include the ongoing change in reserves due to market risk benefits (MRB) upon adoption of the ASU, (b) the change in fair value of Shield annuities embedded derivatives, (c) the change in the fair value of derivatives in the Company’s variable annuity hedging program and (d) upon adoption of the ASU, the impact of such adoption as reflected in retained earnings and disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. Such amounts (a), (b), and (c) will be as reported quarterly in the Company’s Form 10-Q or 10-K, as applicable, under “Management’s Discussion and Analysis of Financial Condition -- Results of Operations” and currently within the “Total GMLB Riders” disclosure. Each of (a), (b), and (c), shall apply for which financial statements have been delivered to the Banks in accordance with Sections 5.01(a) or 5.01(b); provided, that such adjustments shall be on a cumulative and after-tax basis beginning with the quarter ended March 31, 2022; provided, further, that such adjustments shall be determined in a manner substantially consistent with past practice as reflected in the calculation for the fiscal year ended December 31, 2021, for which such past practice will be updated as disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 to reflect adoption of the ASU. The VA Adjustment Amount may be a negative value (in which case it shall increase Adjusted Consolidated Net Worth) or positive value (in which case it shall reduce Adjusted Consolidated Net Worth) or zero.
Sample 1

Related to VA Adjustment Amount

  • 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;

  • 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 Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

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

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Open Market Adjustment Amount shall have the meaning specified in Section 2(I).

  • Maximum Settlement Amount means the maximum amount the Company may be required to pay pursuant to this Settlement, which is the sum of Three Hundred Thousand Dollars ($300,000), excluding any of the Company’s employer-side share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes. In no event shall the Maximum Settlement Amount exceed the foregoing sum.

  • Buy In Adjustment Amount shall have the meaning specified in Section 6.

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

  • Working Capital Adjustment Amount means an amount, which may be positive or negative, calculated in accordance with Schedule C, equal to the difference of (a) the Closing Date Adjusted Working Capital minus (b) the Preliminary Adjusted Working Capital.

  • Spread Adjustment means 100 basis points.

  • 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.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Purchase Price Adjustment has the meaning set forth in Section 2.6.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Substitution Adjustment Amount As defined in Section 2.03.

  • SNB Adjustment Spread means, with respect to the SNB Policy Rate, the spread to be applied to the SNB Policy Rate in order to reduce or eliminate, to the extent reasonably practicable under the circumstances, any economic prejudice or benefit (as applicable) to Noteholders as a result of the replacement of the Swiss Average Rate Overnight with the SNB Policy Rate for purposes of determining SARON, which spread will be determined by the Calculation Agent, acting in good faith and a commercially reasonable manner, taking into account the historical median between the Swiss Average Rate Overnight and the SNB Policy Rate during the two year period ending on the date on which the SARON Index Cessation Event occurred (or, if more than one SARON Index Cessation Event has occurred, the date on which the first of such events occurred).

  • Purchase Price Adjustment Escrow Amount means $500,000.

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

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

  • Cash Amount means an amount of cash equal to the product of (i) the Value of a REIT Share and (ii) the REIT Shares Amount determined as of the applicable Valuation Date.

  • Calculation Amount means the amount specified as such on the face of any Note, or if no such amount is so specified, the Denomination Amount of such Note as shown on the face thereof;

  • 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.

  • 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.