Initial Reserve Adjustment Sample Clauses
The Initial Reserve Adjustment clause defines how the initial amount set aside as a reserve—typically for anticipated costs, liabilities, or contingencies—may be modified after the agreement begins. This clause outlines the process for reviewing and adjusting the reserve based on updated information, such as actual expenses incurred or changes in project scope. Its core function is to ensure that the reserve remains accurate and sufficient, thereby preventing shortfalls or overfunding and promoting financial transparency between the parties.
Initial Reserve Adjustment. Simultaneous with the payment of the Initial Consideration described in Article II, Paragraph 1, by the Ceding Company to the Reinsurer, the Reinsurer will pay the Ceding Company an Initial Reserve Adjustment in an amount that is equal to the Modified Coinsurance Reserve determined in accordance with Paragraph 3 below, on the Effective Date of this Agreement.
Initial Reserve Adjustment. Simultaneously with the payment of the initial consideration described in Article IV, by the Company to the Reinsurer, the Reinsurer shall pay to the Company an initial reserve transfer in an amount that is equal to the Modified Coinsurance Reserves, as defined in Schedule B, on the effective date of this Agreement with respect to the policies reinsured hereunder.
Initial Reserve Adjustment. On the Effective Date, simultaneously with the payment of the Initial Consideration by the Ceding Company to the Reinsurer, the Reinsurer paid the Ceding Company an initial modified coinsurance reserve adjustment in an amount equal to the Initial Consideration. On the Amended and Restated Date, the Reinsurer will pay the Ceding Company an amount equal to the Variable Account Coinsurance Quota share times the aggregate of all Variable Accounts as of the Amended and Restated Date (“Special Expense Allowance”). Simultaneously with such payment, the Ceding Company will pay the Reinsurer a modified coinsurance reserve adjustment in an amount equal to such Special Expense Allowance.
Initial Reserve Adjustment. Simultaneously with the payment -------------------------- of the Initial Consideration by Anchor to ANLIC (Hawaii) at the Effective Time, ANLIC (Hawaii) will pay Anchor an initial reserve adjustment in an amount that is equal to the Modified Coinsurance Reserve determined as of August 1, 1999 (the "Initial Reserve Adjustment"). ----------------------------
Initial Reserve Adjustment. 19 Section 6.2. Modified Coinsurance Reserve Adjustment . . . . 19
Initial Reserve Adjustment. The Initial Reserve Adjustment on the Effective Date is equal to $480,000,000.
Initial Reserve Adjustment. Simultaneously with the payment of the Initial Reinsurance Premium, as described in Article II Paragraph 1, by MetLife to the Reinsurers, each Reinsurer will pay MetLife an initial reserve adjustment in an amount equal to the Modified Coinsurance Reserve, determined in accordance with Schedule C, Paragraph 2, calculated as of the date of this Agreement.
Initial Reserve Adjustment. (Article V, Paragraph 1)* --------