Common use of Minimum Statutory Surplus Clause in Contracts

Minimum Statutory Surplus. The Statutory Surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30, 2003, shall not be less than $1,000,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2002 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, 2002.

Minimum Statutory Surplus. The Statutory Surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30December 31, 20031999, shall not be less than $1,000,000,000 850,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2002 1999 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, 20021999.

Minimum Statutory Surplus. The Statutory Surplus Cause the statutory surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30, 20032011, shall to not be less than $1,000,000,000 1,875,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2002 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, 20022010.

Minimum Statutory Surplus. The Statutory Surplus Cause the statutory surplus of Everest Re, at any time beginning with the fiscal quarter ending September 30, 20032006, shall to not be less than $1,000,000,000 1,500,000,000 plus 25% of the aggregate Net Income of Everest Re for the period beginning after December 31, 2002 2005 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, 20022005.