Statutory Reserving Standards Sample Clauses

Statutory Reserving Standards. The Reinsurer shall establish adequate net reinsurance reserves pursuant to the requirement of any regulatory authority having jurisdiction over the Ceding Company and comply with any other statutory requirements necessary for the Ceding Company to take full statutory credit for reinsurance ceded up to the full amount that the Ceding Company would have established for the risks reinsured under the agreement. SCHEDULE B MONTHLY REPORTING
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Statutory Reserving Standards. The Reinsurer shall establish adequate net reinsurance reserves pursuant to the requirement of any regulatory authority having jurisdiction over the Ceding Company and comply with any other statutory requirements necessary for the Ceding Company to take full statutory credit for reinsurance ceded up to the full amount that the Ceding Company would have established for the risks reinsured under the agreement. 13 of 26 69 SCHEDULE B MONTHLY REPORTING 1. Reinsurance Premiums payable by the Ceding Company and due the Reinsurer as of the close of the reported Accounting Period. 2. Reinsurance Benefits payable by the Reinsurer and due the Ceding Company as of the close of the reported Accounting Period. 3. Current Accumulation Value split by fund and Benefit. 4. Annualized unit return on each fund. 14 of 26 70 SCHEDULE C QUARTERLY REPORTING Due twenty-one days after quarter end: 1. Current Accumulation Value split by Benefit, fund, sex, quinquennial attained age group and policy duration. 2. Cash surrender value and Net Amount at Risk split by Benefit, sex and quinquennial attained age group, and policy duration. 3 Reinsurance Reserve 15 of 26 71 SCHEDULE D ANNUAL REPORTING NOTIFICATION OF ANY CHANGE IN FUND STRUCTURE, E.G., ADDITION OR DELETION OF FUND, CHANGE IN INVESTMENT POLICY OR FUND MANAGER, ETC. 16 of 26 72 SCHEDULE E LETTER OF CREDIT LETTER OF CREDIT (Name of Bank) (Address) FOR INTERNAL IDENTIFICATION PURPOSES ONLY Our No.______________________________________________________________________ Other________________________________________________________________________ Accountholder/Applicant______________________________________________________ (Reinsurer)__________________________________________________________________ Beneficiary's State of Domicile______________________________________________ Irrevocable Clean Letter of Credit No.____________Issue Date______________ To Beneficiary: (Name) + (Address) We have established this clean, irrevocable, and unconditional Letter of Credit in your favor as beneficiary for drawings up to U.S. $___________ effective immediately. This Letter of Credit is issued, presentable and payable at our office at (issuing bank address) and expires with our close of business on ______________. Except when the amount of this Letter of Credit is increased, this Credit cannot be modified or revoked without your consent. The term "Beneficiary" includes any successor by operation of law of the named Beneficiary including withou...
Sample 1

Related to Statutory Reserving Standards

  • Operating Standards The Operating Standards attached to this Agreement as Exhibit "B" are hereby made an integral part of this Agreement. Lessee, its employees, agents, guests, invitees, visitors and/or any other persons caused to be present in and around the Premises by the Lessee shall perform and abide by the rules and regulations and any amendments or additions to said rules and regulations as Lessor may make. In addition, Lessee, its employees and agents shall abide by all applicable governmental rules, regulations, statutes and ordinances relating in any way to the Premises or the Facility or Lessee's use or occupancy of the Premises or the Facility; failing which Lessee shall be in default hereunder and shall pay any fines or penalties imposed for such violation(s) directly to the appropriate governmental authority or to Lessor, if Lessor has paid such amount on behalf of Lessee. Such remedy shall not be exclusive. It is hereby further explicitly agreed and understood that full compliance with the Operating Standards as set forth constitutes a material obligation of this Agreement, and that the failure to so comply shall constitute a violation of this Agreement entitling the Lessor to exercise any of its remedies pursuant to this Agreement or otherwise.

  • OMB Standards Unless specified otherwise within this agreement, the Subrecipient shall procure all materials, property, or services in accordance with the requirements of 24 CFR 84.40−48.

  • Licensing Standards The Contractor, its employees and subcontractors shall comply with all applicable licensing standards, certification standards, accrediting standards and any other laws, rules, or regulations governing services to be provided by the Contractor pursuant to this Contract. The State will not pay the Contractor for any services performed when the Contractor, its employees or subcontractors are not in compliance with such applicable standards, laws, rules, or regulations. If any license, certification or accreditation expires or is revoked, or any disciplinary action is taken against an applicable license, certification, or accreditation, the Contractor shall notify the State immediately and the State, at its option, may immediately terminate this Contract.

  • Manufacturing Standards All forest products except poles, produced and sold under this contract will be manufactured to maximize the amount of logs meeting preferred log lengths and to achieve the average log length listed. Agreement No. Sort # Scaling Rule 97318 3 WS Average Log Length Preferred Log Lengths "WS" indicates that west side scaling rules apply. Minimum trim is 8 inches per scaling segment for west side scaling rules. "ES" indicates that east side scaling rules apply. Minimum trim is 4 inches per scaling segment for east side scaling rules. Poles produced under this contract will be manufactured to ANSI specifications (American National Standard Specifications and Dimensions for Wood Poles), in force at the time of signing this contract.

  • Institution Standards Residents are also responsible for reading, understanding and adhering to the academic and non-academic policies and procedures that have been established by the Institution, including the Code of Conduct and its penalties.

  • Professional Standards The Contractor agrees to maintain the professional standards applicable to its profession and to Contractors doing business in the United States Virgin Islands.

  • International Standards 1. Each Party shall use relevant international standards, to the extent provided in Article 2.4 of the TBT Agreement, as a basis for its technical regulations.

  • Residence Community Living Standards The Residence Community Living Standards (“RCLS”) forms a part of this Agreement. It details the rights, responsibilities, and privileges of Residents as well as the residence conduct process. Each Resident is responsible for reading, understanding, and adhering to the terms outlined within the RCLS. The Manager and the Institution may amend the terms of the RCLS from time to time and may post the amendments in the Residence. Failure to abide by the RCLS may result in eviction from Residence and termination of this Agreement as per the violations and sanctions outlined in the RCLS, and as stated in section 8.01(d). The RCLS can be found online at: xxx.xxxxxxxxxxxxxxxxx.xx

  • Accounting Standards The Subrecipient agrees to comply with 2 CFR 200 and agrees to adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred.

  • Standards Any additions, modifications, or replacements made to a Party’s facilities shall be designed, constructed and operated in accordance with this Agreement, NYISO requirements and Good Utility Practice.

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