CTE70 Amount definition
CTE70 Amount means, as of any date of determination, an amount equal to the arithmetic mean of the statutory carrying value of assets required as of such date to satisfy Policyholder obligations as defined in the VM-21 guidelines relating to the Reinsured Contracts (i.e., for both Annuitized Reinsured Contracts and Reinsured Contracts that are not Annuitized Reinsured Contracts) in the worst [***] of the 1,000 statutory stochastic capital market scenarios determined in accordance with, and subject to the terms and conditions of, the Required Balance Model and Calculation Methodologies.
CTE70 Amount in Section 1.01 of the Reinsurance Agreement is hereby amended and replaced in its entirety with the following:
Examples of CTE70 Amount in a sentence
For the purposes of determining the ▇▇▇▇▇▇▇▇ ▇▇ VA CTE70 Amount with respect to any Rate Increase that is to become effective after the date of entering into a written agreement with respect to such Rate Increase, the Parties acting reasonably and in good faith shall approximate the calculation of such ▇▇▇▇▇▇▇▇ ▇▇ VA CTE70 Amount as closely as practicable.
The Independent Actuary’s determination of the Reference Statutory Reserves, the CTE70 Amount or whether the CTE70 Amount was determined in accordance with the Required Balance Model and Calculation Methodologies shall be final and binding upon the Parties.