Statutory Net Worth. Borrower will not permit the tangible net worth of Ohio Indemnity Company ("policy holder surplus" in statutory reporting) to be less than $21,000,000 on each December 31 throughout the term of this Agreement, as determined in accordance with accounting standards promulgated by the Ohio Department of Insurance.
Statutory Net Worth. Permit the aggregate Statutory Surplus of all Insurance Subsidiaries, collectively, to be less than (i) $45,000,000 at any time from and after the Closing Date through and including December 31, 1997; (ii) $50,000,000 at any time from and after January 1, 1998 through and including December 31, 1998; (iii) $55,000,000 at any time from and after January 1, 1999 through and including December 31, 1999; and (iv) $60,000,000 at any time thereafter.
Statutory Net Worth. Borrower shall not permit its Statutory Net Worth as of the end of the fiscal quarter ending March 31, 2015 and as of the end of any fiscal quarter thereafter, to be less than the Minimum Net Worth.
Statutory Net Worth. As of the end of each of their calendar quarters (commencing with the calendar quarter ending March 31, 2014), the Operating Subsidiaries shall maintain a combined Statutory Net Worth in an amount not less than Fifty Million and 00/100 Dollars ($50,000,000.00).
Statutory Net Worth. The aggregate Statutory Net Worth of FGHP and FG Kansas combined at Closing shall be at least $6,000,000.
Statutory Net Worth. Borrower will not permit the tangible net worth of Ohio Indemnity Company ("policy holder surplus" in statutory reporting) to be less than the amounts indicated at the end of each respective periods indicated below, as determined in accordance with accounting standards promulgated by the Ohio Department of Insurance: Fiscal Year Ending Maximum Net Worth ------------------ ----------------- December 31, 1992 $7000,000 December 31, 1993 $7,250,000 December 31, 1994 $7,750,000 This minimum net worth shall thereafter be increased by at least $500,000 at the end of each fiscal year commencing with the fiscal year ending December 31, 1995.
Statutory Net Worth. The aggregate Capital and Surplus of the Primary Borrower's Insurance Subsidiaries shall be not less than $2,300,000,000 as of the end of the fiscal quarter most recently ended prior to the Closing Date, after giving pro forma effect to the consummation of the Acquisition and related transactions, including the Reinsurance Agreements referenced in Section 5.1(m), the increase in reserves described in Section 5.1(c) and the contribution of Folksamerica and Main Street America as a part of the Preclosing Transactions.
