Available Dividends definition

Available Dividends at the end of any fiscal quarter means the portion of Statutory Surplus of the Insurance Subsidiaries that is permitted by applicable laws and regulations to be distributed to shareholders.
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Available Dividends means, for any Test Period, amounts available as of the end of the full Fiscal Year ending prior to the end of such Test Period to be paid by the Insurance Subsidiaries to the Borrower in accordance with the rules and regulations of the applicable Departments as dividends under applicable Law.
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Available Dividends means, on any determination date, and without duplication, with respect to each Insurance Subsidiary, the maximum dividend amount that such Insurance Subsidiary is permitted to pay to its shareholders at such time without approval from the insurance regulatory authority of the jurisdiction in which such Insurance Subsidiary is domiciled.
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Examples of Available Dividends in a sentence

  • In such event, the Pledgee shall release such Available Dividends Proceeds from the Pledge and transfer the same to the Pledgor's Account.

  • The Borrower shall maintain a ratio (the “Interest Coverage Ratio”) of (i) the aggregate of the Available Dividends of Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company (or, in the event EquiTrust Life Insurance Company is a Wholly-Owned Subsidiary of Farm Bureau Life Insurance Company, the aggregate of the Available Dividends solely of Farm Bureau Life Insurance Company) to (ii) the Consolidated Interest Expense for any period of calculation hereunder of at least 3.00 to 1.00.

  • The Borrower shall maintain a ratio (the “Interest Coverage Ratio”) of (i) the aggregate of the Available Dividends of the Insurance Subsidiaries to (ii) the Consolidated Interest Expense for any period of calculation hereunder of at least 3.00 to 1.00.


More Definitions of Available Dividends

Available Dividends at the end of any fiscal quarter means the portion of Statutory Surplus of USF RE that is permitted by California and Massachusetts laws and regulations to be distributed to shareholders.
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Available Dividends means, for any Fiscal Quarter, the maximum allowable unpaid dividends (based on the prior Fiscal Year) which, under Department regulations, may be paid by the Insurance Subsidiaries to the Borrower.
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