Net Liabilities definition

Net Liabilities means the liabilities of a registered insurer or reinsurer reduced to the extent that any such liabilities have been reinsured with another registered insurer or reinsurer;

Net Liabilities means, with respect to any Person, the net mark-xx-market value determined in accordance with GAAP.

Net Liabilities means the liabilities of the Company reduced to the extent that any such liabilities have been reinsured with a registered reinsurer as defined in section 1(1) of the Short-term Insurance Act;

Examples of Net Liabilities in a sentence

• If the Audited Net Liabilities are equal to or less than the Unaudited Net Liabilities, no adjustment will be made (i.e. the Final Consideration shall be the same as the Initial Consideration).

• Taking into account of the unsatisfactory performances and the Adjusted Net Liabilities of Xxxx Xxxx, the Board considered that the terms and conditions of the Disposal are fair and reasonable and on normal commercial terms and are in the interests of the Company and the Shareholders as a whole.

• Once all of the Claim Forms have been processed a Net Statement will be provided to you setting out your Net Liabilities.

• Adjustment mechanism In the event that the net liabilities of the Target Group attributable to the equity owners of the Target as at 31 December 2018 as shown in the audited combined accounts of the Target Group (the “Audited Net Liabilities”) are more than the Unaudited Net Liabilities, the Initial Consideration shall be adjusted downwards by 49% of the excess liabilities amount to arrive at the Final Consideration.

• In the event that the net liabilities of the Target Group as at 30 September 2018 as shown in the audited combined accounts of the Target Group (the “Audited Net Liabilities”) are more than the Unaudited Net Liabilities, the Initial Consideration shall be adjusted downwards by 85% of the excess liabilities amount to arrive at the Final Consideration.

More Definitions of Net Liabilities

Net Liabilities means the total consolidated assets of the Group minus total consolidated liabilities of the Group (other than the liability in respect of the Shareholder Loan and the New Loan, if any); it being referred to as "Net Asset Value" if it is a positive figure, and "Net Liabilities" if it is a negative figure (as applicable). For the avoidance of doubt, for the calculation or determination of the Net Asset Value or Net Liabilities (as the case may be):

Net Liabilities means all direct liabilities plus reinsurance assumed minus reinsurance ceded, except as otherwise expressly excluded below, provided that the parties hereto expressly understand and agree that Net Liabilities excludes any and all liabilities arising out of the State Auto Mutual Reinsurance Book.

Net Liabilities means liabilities determined in a manner consistent with GAAP but excluding (i) current and deferred Tax liabilities and (ii) any other Retained Liabilities.

Net Liabilities means the amount by which, as of the closing date, the Seller's total liabilities are in excess of (in which case the purchase price will be decreased), or less than (in which case the purchase price will be increased), the Seller's current assets including accounts receivable but excluding supplies and inventory.

Net Liabilities means all direct liabilities plus reinsurance assumed minus reinsurance ceded, except as otherwise expressly excluded below.

Net Liabilities means gross claims payable to an insured less attributable gross reinsurance recoveries receivable;

Net Liabilities means the liabilities of the Company reduced to the extent that any such liabilities have been reinsured with a registered reinsurer as defined in section 1(1) of the Short-term Insurance Act;[The definition of “Public Enterprises Governance Act”, which appears below, should appear here for correct alphabetical order.]