Minimum Risk-Based Capital. The Borrower shall not permit the Life Subsidiaries (taken as a whole) or the P/C Subsidiaries (taken as a whole) to maintain, as of the end of any Fiscal Year, a ratio (expressed as a percentage) of (a) Total Adjusted Capital (as defined in the Risk-Based Capital (RBC) for Insurers Act in the applicable state of domicile or in the rules and procedures prescribed from time to time by the NAIC with respect thereto) to (b) 1 80% of Net Worth as of March 31, 2019.
Appears in 2 contracts
Sources: Credit Agreement (Horace Mann Educators Corp /De/), Credit Agreement (Horace Mann Educators Corp /De/)