Statutory Capital and Surplus Sample Clauses

Statutory Capital and Surplus. AMS will at all times cause UWLIC to maintain a Statutory Capital and Surplus of not less than the sum of (a) $140,000,000, plus (b) 50% of the positive Statutory Net Income earned by UWLIC in each Fiscal Quarter ending after September 30, 1999 and on or prior to the date of determination (excluding changes in unrealized gain/loss).
Statutory Capital and Surplus. At the Closing:
Statutory Capital and Surplus. Borrower will at all times cause UWLIC to maintain a Statutory Capital and Surplus of not less than the sum of (a) $125,000,000, plus (b) 50% of the positive Statutory Net Income earned by UWLIC in each Fiscal Year commencing on December 31, 2003 and on or prior to the date of determination (excluding changes in unrealized gain/loss). 6.19.6. RISK-BASED CAPITAL. At all times after the date hereof, Borrower will cause each Material Insurance Subsidiary to maintain a ratio of (a) Total Adjusted Capital (as defined in the Risk-Based Capital Act or in the rules and procedures prescribed from time to time by the NAIC with respect thereto) to (b) the Company Action Level RBC (as defined in the Risk-Based Capital Act or in the rules and procedures prescribed from time to time by the NAIC with respect thereto) of at least 175%. Borrower shall also provide the Lenders with copies of the IRIS ratio calculations for each Material Insurance Subsidiary by March 31 of each year. 6.21. REINSURANCE. Borrower will not permit any Insurance Subsidiary to (a) enter into bulk reinsurance arrangements, including without limitation any bulk financial reinsurance arrangements, or (b) enter into any other (or renew, extend or materially modify any existing) reinsurance arrangements except in the ordinary course of business (i) with reinsurers rated at least "A-" (at the time such reinsurance arrangements are entered into) by A.M. Best & Co. or its equivalent by another reputable rating agency or reinsurers whose obligations to the Insurance Subsidiaries are secured by letters of credit or other collateral reasonably acceptable to the Required Lenders or (ii) with other reinsurers so long as the aggregate corresponding credits to reserves (page 3, lines 1, 2, 3 and 4 of the Annual Statement) of all Insurance Subsidiaries in respect of reinsurance arrangements with all such other reinsurers does not exceed 3% of the aggregate of such reserves of all Insurance Subsidiaries; PROVIDED, that notwithstanding the foregoing, any Insurance Subsidiary may enter into any reinsurance arrangement in order to effect the Acquisition of a block of insurance business which is permitted under SECTION 6.14(B)(V). 6.22. TAX CONSOLIDATION. Neither Borrower nor any Subsidiary will (a) file or consent to the filing of any consolidated, combined or unitary income tax return with any Person other than Borrower and its Subsidiaries or (b) enter into any tax sharing agreement or similar arrangement other tha...
Statutory Capital and Surplus. Borrower will cause ----------------------------- OCIC to maintain a Statutory Capital and Surplus of not less than $625,000,000 as of the end of each Fiscal Quarter 41 ending on or before September 30, 2003, increasing to $650,000,000 as of the end of each Fiscal Quarter thereafter.
Statutory Capital and Surplus. Farm Bureau Life Insurance Company shall maintain a combined statutory capital and surplus (i.e., the statutory capital and surplus of Farm Bureau Life Insurance Company taking into account Farm Bureau Life Insurance Company’s ownership of EquiTrust Life Insurance Company), as determined in accordance with SAP, equal to or greater than $400,000,000 (the “Minimum Capital and Surplus Threshold”); provided, however, that the Minimum Capital and Surplus Threshold shall increase each quarter, commencing on December 31, 2003, by 50% of the prior quarter’s positive statutory net income, determined in accordance with SAP, earned by Farm Bureau Life Insurance Company on a stand-alone basis. In the event that EquiTrust Life Insurance Company ceases to be a subsidiary of Farm Bureau Life Insurance Company, the calculation of the Minimum Capital and Surplus Threshold shall be based on the sum of (x) the capital and surplus of Farm Bureau Life Insurance Company and (y) the capital and surplus of EquiTrust Life Insurance Company, each as determined in accordance with SAP.
Statutory Capital and Surplus. HFS will not permit at any time AH's Statutory Capital and Surplus to be less than $2,650,000 as of the date of any reporting period required by law or required by the Texas Department of Insurance.
Statutory Capital and Surplus. Section 6.5 of the Credit Agreement is hereby amended and restated as follows: 6.5 Statutory Capital and Surplus. The Borrower and Holdings will not permit the aggregate Statutory Capital and Surplus of the Insurance Subsidiaries to be less than (i) at any time from and including the Fourth Amendment Date to and including December 31, 2001, $509,185,070, and (ii) at any time thereafter, the greater of (A) 75% of the actual aggregate Statutory Capital and Surplus of the Insurance Subsidiaries as of the last day of the immediately preceding fiscal year, or (B) the aggregate Statutory Capital and Surplus required to have been maintained by the Insurance Subsidiaries under this Section 6.5 during the immediately preceding fiscal year.
Statutory Capital and Surplus. The Borrower and Holdings will not permit, as of any date on or after the Closing Date, the aggregate Statutory Capital and Surplus of the U.S. Insurance Subsidiaries to be less than $316,000,000.
Statutory Capital and Surplus. The definition of "Statutory Capital and Surplus" shall be amended and restated as follows: