Common use of Capital and Surplus Clause in Contracts

Capital and Surplus. MetLife agrees that it shall cause General American to have at all times during the term of this Agreement the greater of: (a) A minimum capital and surplus of $10 million; or (b) the amount of capital and surplus as shall be necessary to maintain a total adjusted capital of General American at a level not less than 250% of the company action level RBC (or 500% of the authorized control level RBC) of General American. For purposes of this Paragraph 1(b), "total adjusted capital", "company action level RBC" and "authorized control level RBC" shall be as defined in the Risk-Based Capital (RBC) for Insurers Model Act adopted by the National Association of Insurance Commissioners.