Minimum Statutory Surplus. Not permit the U.S. Insurance Subsidiaries (on an aggregate basis) to have a Statutory Surplus as of the last day of any Fiscal Month (beginning with the Fiscal Month ending November 30, 2019) of less than the greater of (i) $100,000,000, and (ii) the aggregate Statutory Surplus which the U.S. Insurance Subsidiaries are required to have or maintain, or have otherwise agreed to have or maintain, pursuant to the requirements of any Insurance Regulatory Authority or any instrument, Guarantee or other agreement applicable to the U.S. Insurance Subsidiaries (whether or not any such U.S. Insurance Subsidiary is a party thereto).
Minimum Statutory Surplus. The Borrower will cause the Significant Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than (i) $110,272,875 in each Fiscal Quarter ending on or before December 31, 2003, and (ii) at all times thereafter, the sum of (a) $110,272,875, plus (b) 50% of the cumulative positive aggregate Statutory Net Income, if any, earned by the Significant Insurance Subsidiaries from January 1, 2004 to the date of calculation, plus (c) 75% of the Net Available Proceeds of any equity issuance (including any capital contribution to surplus of any Significant Insurance Subsidiary in respect of which no additional shares are issued) by any Significant Insurance Subsidiary after the Closing Date.
Minimum Statutory Surplus. Cause the statutory surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30, 2011, to not be less than $1,875,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2010 and ending on the date of calculation, as determined in each case in accordance with SAP (provided that Net Income for any period shall be taken into account for purposes of this calculation only if positive), plus 25% of the aggregate capital contributions made to Everest Re after December 31, 2010.
Minimum Statutory Surplus. Permit the Statutory Surplus to be less than $1,000,000,000.
Minimum Statutory Surplus. The Borrower will at all times cause Navigators Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than $529,729,600.
Minimum Statutory Surplus. The Borrower will cause the Significant Insurance Subsidiaries to maintain an aggregate Statutory Surplus of not less than $465,000,000.
Minimum Statutory Surplus. At all times after the Effective Date, the Borrower shall cause American Equity Life to maintain a Statutory Surplus in an amount equal to the sum of (i) eighty percent (80%) of the Statutory Surplus of American Equity Life the last day of the Fiscal Quarter ended most recently prior to the Effective Date, plus (ii) fifty percent (50%) of the statutory net income (positive) of American Equity Life for each Fiscal Quarter ending after the Effective Date, plus (iii) fifty percent (50%) of all capital contributed to American Equity Life following the Fiscal Quarter-end immediately preceding the Effective Date.
Minimum Statutory Surplus. (a) The Borrower will not permit HIC, on a combined basis, to have during any period set forth below a Statutory Surplus of less than the amount set forth below: Period Amount -------- -------- From the Effective Date to and including December 31, 1997 $165,000,000 Thereafter $185,000,000
Minimum Statutory Surplus. Permit Statutory Surplus at any time to be less than $5,200,000,000.
Minimum Statutory Surplus. (a) As of the end of any ------------------------- fiscal quarter prior to the USF RE Sale, permit Statutory Surplus of USF RE to be less than an amount equal to the sum of (i) $80,000,000 plus (ii) 75% of any positive Statutory Net Income, after dividends to the Borrower, for each fiscal quarter following the fiscal quarter ending December 31, 1995, plus (iii) any contributions to surplus made by the Borrower to USF RE, from Revolving Loans or otherwise, during each fiscal quarter following the fiscal quarter ending December 31, 1995.
