Applicable Principles definition

Applicable Principles means the International Accounting Standards.

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Applicable Principles means the accounting principles applied in connection with the Original Financial Statements.

Applicable Principles means, with respect to each Reinsured Entity or Primary Insurer, such Person’s applicable SAP and Applicable Law, consistently applied, and its then- current actuarial practices, principles, assumptions and methodologies, applied consistently with the preparation of its statutory financial statements filed in its state or jurisdiction of domicile for the applicable period. “Asset Election” has the meaning set forth in the Term of this Agreement Article 6. “Brokerage” has the meaning given to it in the Intermediary Article 20. “Business Day” means any day (other than a Saturday or Sunday) on which banks are open for business in New York, New York and Hamilton, Bermuda. “Carried Reserves” means, as of any date of determination, the aggregate of the statutory reserves held for the Subject Business by each Reinsured Entity to the extent such Subject Business was reinsured by such Reinsured Entity as of the Effective Date, or, with respect to Subject Business not reinsured by either Reinsured Entity as of the Effective Date, by the Primary Insurer that issued such Subject Business, including such reserves for incurred but not reported UNL; reserves for Paid UNL but not recovered hereunder; reserves for UNL reported and outstanding; and any other reserves for UNL required under the

Examples of Applicable Principles in a sentence

• The Internal Law of The State of New York Will Govern and be Used to Construe the Indenture, this Note and the Note Guarantees without Giving Effect to Applicable Principles of Conflicts of Law to The Extent that the Application of the Laws of Another Jurisdiction Would be Required Thereby.

• The Internal Law of The State of New York will Govern and be Used to Construe the Indenture, this Note and the Note Guarantees without Giving Effect to Applicable Principles of Conflicts of Law to the Extent that the Application of the Laws of Another Jurisdiction Would be Required Thereby.

• Within 15 days of receipt of the Closing Net Asset Statement, Seller shall propose to Buyer such adjustments (if any) therein as shall in its judgment be required to cause the Closing Net Asset Statement to reflect fairly those items required to be included therein, in accordance with the Applicable Principles.

• The Financial Statements (i) have been prepared in accordance with the books and records of Seller, (ii) fairly present the financial condition of the Business, to the extent of the assets acquired and liabilities assumed hereunder, as at their respective dates and its results of operations for the periods covered thereby, and (iii) have been prepared in accordance with the Applicable Principles.

• The Internal Law Of The State Of New York Shall Govern And Be Used To Construe This Supplemental Indenture But Without Giving Effect To Applicable Principles Of Conflicts Of Law To The Extent That The Application Of The Laws Of Another Jurisdiction Would Be Required Thereby.

More Definitions of Applicable Principles

Applicable Principles means, with respect to each Reinsured Entity or Primary Insurer, such Person’s applicable SAP and Applicable Law, consistently applied, and its then- current actuarial practices, principles, assumptions and methodologies, applied consistently with the preparation of its statutory financial statements filed in its state or jurisdiction of domicile for the applicable period. “Asset Election” has the meaning set forth in the Term of this Agreement Article 6. “Brokerage” has the meaning given to it in the Intermediary Article 20. “Business Day” means any day (other than a Saturday or Sunday) on which banks are open for business in New York, New York and Hamilton, Bermuda. “Carried Reserves” means, as of any date of determination, the aggregate of the statutory reserves held for the Subject Business by each Reinsured Entity to the extent such Subject Business was reinsured by such Reinsured Entity as of the Effective Date, or, with respect to Subject Business not reinsured by either Reinsured Entity as of the Effective Date, by the Primary Insurer that issued such Subject Business, including such reserves for incurred but not reported UNL; reserves for Paid UNL but not recovered hereunder; reserves for UNL reported and outstanding; and any other reserves for UNL required under the Applicable Principles, in each case and without duplication as calculated by such Person in accordance with the Applicable Principles. “Ceded Carried Reserves” means an amount equal to the Reinsurer’s Share of the Carried Reserves as such Carried Reserves are adjusted to reflect the Retention and remaining Aggregate Limit. “Closing” has the meaning given to it in the Transactions to be Effectuated at Closing Article 7. “Closing Date” means the date on which the Closing has occurred. “Co-Participation” means 20%.