VSA Payable Liability definition

VSA Payable Liability shall have the meaning set forth in Section 3.4 hereof.
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Examples of VSA Payable Liability in a sentence

  • The quarterly change (or monthly change as applicable) in a VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable Liabilities.

  • The Company will establish one or more accounts payable (the "VSA Payable Liability") on its statutory books equal to the difference between the aggregate VSA Accumulated Value and the aggregate Statutory Reserves related to a VSA.

  • The quarterly change (or monthly change as applicable) in the VSA Payable Liability shall be calculated in accordance with the provisions of Schedule 3.4. The Reinsurer will set up a corresponding account receivable on its statutory books equal to the VSA Payable Liability.

Related to VSA Payable Liability

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Common expense liability means the liability for common

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised;