Estimated Reserve Adjustment Calculation Sample Clauses

Estimated Reserve Adjustment Calculation. The Company will cause Zurich to prepare and deliver to the Purchaser not later than three Business Days prior to the Closing Date, (i) a listing of all historical auto liability losses, including loss expenses, by policy year for the Company’s large deductible program period from December 31, 2000 through the Closing Date, including for each claim, paid loss, paid expense, outstanding loss, and outstanding expense and (ii) a listing of the number of trucks/trailers covered by the Company’s large deductible program from December 31, 2000 through the Closing Date by policy year. The Company will also cause Zurich to prepare and will deliver to the Purchaser not later than three Business Days prior to the Closing Date, an exhibit showing the estimated large deductible loss and expense reserves for the Company’s auto liability exposures as of the Closing Date by policy year. For each policy year, the estimated closing reserve amount will be the aggregate reserves, limited to the Company’s deductible retention, by policy year from the loss listing provided by Zurich (policy year case reserves as of the Closing Date) multiplied by the applicable policy year IBNR factor as of the Closing Date as set forth in Schedule 2.7 hereto (the aggregate amount of the estimated closing reserve amount for all applicable policy years, determined in accordance with this Section 2.7(a), shall be referred to as the “Estimated Closing Reserve Amount”). The Estimated Closing Reserve Amount will be subject to the approval of the Purchaser (which approval shall not be unreasonably withheld or delayed).