Borrower Statutory Surplus. The Borrower shall not permit the Borrower Statutory Surplus to be less than an amount equal to the sum of (a) $750,000,000 plus (b) 25% of Borrower Statutory Net Income earned in each calendar year commencing with the calendar year ending December 31, 2008.
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Samples: Credit Agreement (Mercury General Corp), Credit Agreement (Mercury General Corp)
Borrower Statutory Surplus. The Borrower shall not permit the Borrower Statutory Surplus to be less than an amount equal to the sum of (a) $750,000,000 plus (b) 25% of Borrower positive Consolidated Statutory Net Income earned in each calendar year commencing with the calendar year ending ended December 31, 20082014.β
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Borrower Statutory Surplus. The Borrower shall not permit the Borrower Statutory Surplus to be less than an amount equal to the sum of (a) $750,000,000 plus (b) 25% of Borrower positive Consolidated Statutory Net Income earned in each calendar year commencing with the calendar year ending ended December 31, 20082010.
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Borrower Statutory Surplus. The Borrower shall not permit the Borrower Statutory Surplus to be less than an amount equal to the sum of (a) $750,000,000 plus (b) 25% of Borrower positive Consolidated Statutory Net Income earned in each calendar year commencing with the calendar year ending ended December 31, 20082013.
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