Consolidated Surplus definition

Consolidated Surplus means, at any date of determination, “surplus as regards to policyholders” (calculated in accordance with SAP) of the Borrower and its Subsidiaries, on a consolidated basis.
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Consolidated Surplus means the consolidated surplus as regards policyholders of the Insurance Subsidiaries, in each case determined in accordance with SAP and as reflected in the most recent consolidated statutory financial statements of the Insurance Subsidiaries delivered pursuant to Section 7.08(1)(c) or 7.08(2)(iii).
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Consolidated Surplus means the consolidated surplus of the Corporation's life and property/casualty insurance subsidiaries determined based on the following: with respect to (a) any insurance subsidiary of the Corporation engaged principally in life insurance, the sum of (i) the amount reported on page 3, line 38, column 1 of its Annual Statement required under the laws of its state of domicile, plus (ii) the asset valuation reserve/interest maintenance reserve of such subsidiary; or (b) any insurance subsidiary of the Corporation engaged principally in property/casualty insurance, the amount reported on page 3, line 25, column 1 of its Annual Statement required under the laws of its state of domicile; or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared; provided, however, that if at any time SAP shall be modified to decrease the amount calculated under clause (b) of this paragraph by a reserve similar to the asset valuation reserve/interest maintenance reserve, then the amount under such clause (b) shall be deemed to be the sum of such reduced amount plus such reserve.
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Examples of Consolidated Surplus in a sentence

  • In general, the 1981 Lease defines Consolidated Surplus as revenues from the Corporation’s operations during the year, minus the amounts paid, set aside or placed in reserve in connection with the Corporation’s operations and to comply with the Corporation’s obligations, including debt service and other requirements under the Corporation’s financing documents.

  • As a result, there was no Consolidated Surplus for the year ended December 31, 2020, and no additional rent was payable to the City for 2020.

  • The Group has elected to account for short-term leases and leases of low-value assets using the practical expedients and expense these lease payments to the Consolidated Surplus or Deficit and Other Comprehensive Income as incurred.

  • As a result, there was no Consolidated Surplus for the years ended December 31, 2021 and 2020, and no additional rent was payable to the City for those years.

  • This amount does not represent funds (i.e. cash) available to discharge the obligations of the City.• Annual Consolidated Surplus – This amount is the difference between the City’s total revenues and expenses for the reporting period.

  • DISTRICT CONSOLIDATED SURPLUS FUND (1) Districts may consolidate the Surplus Funds of Lodges under their jurisdiction on the District Consolidated Surplus Fund or the Consolidated District and Lodge Surplus Fund of Society.

  • Analysis of Change in Operations Highlights from Prior Year Consolidated Surplus (Deficit) ($M) 2020-21 2019-20Consolidated Surplus (Deficit)(2.0)2.2The 2020-21 fiscal year resulted in a surplus for operations and ancillary of $2.2 million, increasing by $4.2 million compared to the consolidated deficit of $2 million in 2019-20.

  • And finally, the evaluation of if the intervention has been a success will be conducted from through reflection.

  • At the Closing, Buyer shall pay (the “Closing Cash Payment”) to Parent (by wire transfer of immediately available funds to an account or accounts designated in writing by Parent) $17,500,000 plus (or minus) the amount (the “Pre-Closing Adjustment Amount”) by which Consolidated Surplus on the Pre-Closing SAP Balance Sheet exceeds (or is less than) $24,000,000.

  • The Borrower will not permit the Consolidated Surplus at any time to be less than the sum of (i) $275,000,000 and (ii) 50% of Consolidated Net Income of the Regulated Insurance Companies for each fiscal year of the Borrower (beginning with the fiscal year ending December 31, 2012) for which such Consolidated Net Income is positive.

Related to Consolidated Surplus

  • consolidated basis means on the basis of the consolidated situation;

  • Consolidated Operating Cash Flow means, with respect to the Company and its Subsidiaries on a consolidated basis, for any period, an amount equal to Consolidated Net Income for such period increased (without duplication) by the sum of:

  • Consolidated Assets means, at a particular date, all amounts which would be included under total assets on a consolidated balance sheet of the Company and its Subsidiaries as at such date, determined in accordance with GAAP.

  • Consolidated Net Interest Expense means, with respect to any Person for any period, (a) gross interest expense of such Person and its Subsidiaries for such period determined on a consolidated basis and in accordance with GAAP (including, without limitation, interest expense paid to Affiliates of such Person), less (b) the sum of (i) interest income for such period and (ii) gains for such period on Hedging Agreements (to the extent not included in interest income above and to the extent not deducted in the calculation of gross interest expense), plus (c) the sum of (i) losses for such period on Hedging Agreements (to the extent not included in gross interest expense) and (ii) the upfront costs or fees for such period associated with Hedging Agreements (to the extent not included in gross interest expense), in each case, determined on a consolidated basis and in accordance with GAAP.

  • Consolidated Debt means, at any date, the Debt of the Borrower and its Consolidated Subsidiaries, determined on a consolidated basis as of such date.

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Consolidated Rent Expense means, for any period, the total rent expense with respect to real and personal property of the Borrower for such period, as determined on a Consolidated basis and as reported in its financial statements.

  • Consolidated Net Assets means Consolidated Assets after deduction of Consolidated Current Liabilities.

  • Consolidated Net Indebtedness means, on any date, the difference of (a) Consolidated Total Indebtedness as of such date, minus (b) the aggregate amount of all Unrestricted Cash.

  • Consolidated Liquidity means, with reference to any period, an amount equal to (a) any Unrestricted Cash of the Borrowers and their Subsidiaries as calculated on a consolidated basis for such period and (b) the Aggregate Commitments of the Lenders minus the outstanding principal amount of all Loans and any issued and outstanding Letters of Credit; provided that the Borrowers are otherwise permitted to borrow such amount pursuant to the terms and conditions of this Agreement at the time such amount is calculated.

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.

  • Capital Surplus has the meaning assigned to such term in Section 6.3(a).

  • Consolidated Net Worth means at any time the consolidated stockholders’ equity of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Income Available for Debt Service for any period means Earnings from Operations of the Company and its Subsidiaries plus amounts which have been deducted, and minus amounts which have been added, for the following (without duplication): (i) interest on Indebtedness of the Company and its Subsidiaries, (ii) provision for taxes of the Company and its Subsidiaries based on income, (iii) amortization of debt discount, (iv) provisions for gains and losses on properties and property depreciation and amortization, (v) the effect of any noncash charge resulting from a change in accounting principles in determining Earnings from Operations for such period and (vi) amortization of deferred charges.

  • Consolidated Cash Interest Charges means, for any period, for the Borrower and its Restricted Subsidiaries on a consolidated basis, that portion of Consolidated Interest Charges that is either paid or required to be paid in cash during such period, but excluding prepayment or similar premiums paid in connection with any prepayment, repurchase or redemption of Consolidated Funded Indebtedness.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Consolidated Cash Interest Expense means, for any period, Consolidated Interest Expense for such period excluding, however, any interest expense not payable in Cash (including amortization of discount and amortization of debt issuance costs).

  • Consolidated Net Debt means, as of any date of determination, (a) Consolidated Total Debt minus (b) the aggregate amount of cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries as of such date that is not Restricted.

  • Consolidated Interest Expense means, with respect to any Person for any period, without duplication, the sum of:

  • Consolidated Adjusted Debt means, at any time, the sum of, without duplication, (i) Consolidated Funded Indebtedness and (ii) the product of Consolidated Rents multiplied by 6.0.

  • Consolidated Indebtedness means at any time the Indebtedness of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Consolidated Total Funded Indebtedness (i) obligations under any derivative transaction or other Hedging Agreement, (ii) undrawn Letters of Credit, (iii) Earn-Outs to the extent not then due and payable and if not recognized as debt on the balance sheet in accordance with GAAP and (iv) leases that would be characterized as operating leases in accordance with GAAP on the date hereof.