Customer Asset Value definition

Customer Asset Value means, at any time, an amount equal to the -------------------- aggregate reserves with respect to the Non-Novated Contracts in effect at such time that would be shown on a balance sheet of Seller as at such time prepared in accordance with GAAP applied in the same manner as applied in the preparation of the Baseline Balance Sheet.
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Customer Asset Value means the market value of the moneys and assets in a customer's account subject to such hair-cut as specified by CDP.
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Customer Asset Value means, at any time, an amount equal to the aggregate reserves with respect to the Insurance Contracts in effect at such time that would be shown on a balance sheet of Seller as at such time prepared in accordance with GAAP applied in the same manner as applied in the preparation of the Baseline Balance Sheet; PROVIDED, HOWEVER, that the portion of Customer Asset Value attributable to assets held by Seller in the Seller Separate Account pursuant to variable options under the Insurance Contracts shall be equal to the result of (a) $241,900,000 plus (b) the amount of all participant contributions (including transfers from fixed options) added to the Seller Separate Account, from but not including June 30, 1995 to and including the date as of which Customer Asset Value is calculated minus (c) the amount of all deductions from the Seller Separate Account, from but not including June 30, 1995 to and including the date as of which Customer Asset Value is calculated, for withdrawals (including transfers to fixed options) and for mortality and expense risk charges and annual administration charges, plus (d) imputed investment return at the monthly rate of one percent (1%) applied monthly to the mean balance of such portion of Customer Asset Value as it would have resulted from time to time after June 30, 1995 according to the above calculation of (a) plus (b) minus (c) plus (d) until and including the date as of which Customer Asset Value is calculated; and PROVIDED, FURTHER, that, in determining Customer Asset Value, there shall be excluded from the calculation an amount equal to the aggregate reserves relating to each Insurance Contract as to which Seller has received and processed in the normal conduct of its business, consistent with practices in effect on June 30, 1995, a request from the holder of the Insurance Contract to pay to such holder the amounts on deposit with Seller under such Insurance Contract.
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Examples of Customer Asset Value in a sentence

  • The determinations by the Third Party Accountant as to the items in dispute shall be in writing and shall be binding and conclusive on the parties and shall be so reflected in the Final Balance Sheet and the calculation of Final Customer Asset Value.

  • Items described in clause (i) of the preceding sentence are referred to herein as "Accrued Liabilities," and items referred to in clause (ii) thereof are referred to herein as "Pre-Paid Items and Receivables." Promptly after its preparation, Seller shall deliver copies of the Proposed Balance Sheet and calculation of Customer Asset Value to Purchaser.

  • Seller agrees that Purchaser and its accountants may have access to the accounting records of Seller relating to its preparation of the Proposed Balance Sheet and calculation of Customer Asset Value for the purpose of conducting its review.

  • Any changes in the Proposed Balance Sheet or calculation of Customer Asset Value that are agreed to by Purchaser and Seller within 45 days of the aforementioned delivery of such balance sheet by Seller shall be incorporated into a final balance sheet of the Business as of the close of business on the last day of the month preceding the month in which the Closing Date falls (the "Final Balance Sheet") and a final calculation of Customer Asset Value as of such date (the "Final Customer Asset Value").

  • In the event that Purchaser and Seller are unable to agree on the manner in which any item or items should be treated in the preparation of the Final Balance Sheet or calculation of Customer Asset Value within such 45-day period, separate written reports of such item or items shall be made in concise form and shall be referred to KPMG Peat Marwick (the "Third Party Accountant").

  • Following the resolution of all disputed items, Seller shall prepare the Final Balance Sheet and calculation of Final Customer Asset Value and shall deliver copies of such balance sheet and such calculation to Purchaser.

  • Purchaser shall have the right to review such balance sheet and calculation of Customer Asset Value and comment thereon for a period of 45 days after receipt thereof.

  • Any transfer of cash or Cash Equivalents required under this Section 2.04 shall be made within ten Business Days of the date of the delivery of the Final Balance Sheet and calculation of Final Customer Asset Value to Purchaser.

  • The Third Party Accountant shall determine within 14 days the manner in which such item or items shall be treated on the Final Balance Sheet or calculation of Customer Asset Value, as the case may be; PROVIDED, HOWEVER, that the dollar amount of each item in dispute shall be determined between the range of dollar amounts proposed by Seller and Purchaser, respectively.

  • Such certification shall also set forth Seller's calculation of Customer Asset Value as of the date of the Closing Balance Sheet and shall certify that such calculation was made in accordance with the definition of Customer Asset Value set forth in Section 1.01 hereof.

Related to Customer Asset Value

  • Customer Assets means the Customer’s infrastructure, data, software, materials, assets, equipment or other property owned by and/or licensed or leased to the Customer and which is or may be used in connection with the provision of the Goods and/or Services;

  • Gross Asset Value means, with respect to any asset, the asset's adjusted basis for federal income tax purposes, except as follows:

  • Supplier Assets means all assets and rights used by the Supplier to provide the Goods and/or Services in accordance with this Call Off Contract but excluding the Customer Assets;

  • Customer-Funded Upgrade means any Network Upgrade, Local Upgrade, or Merchant Network Upgrade for which cost responsibility (i) is imposed on an Interconnection Customer or an Eligible Customer pursuant to Tariff, Part VI, section 217, or (ii) is voluntarily undertaken by a New Service Customer in fulfillment of an Upgrade Request. No Network Upgrade, Local Upgrade or Merchant Network Upgrade or other transmission expansion or enhancement shall be a Customer-Funded Upgrade if and to the extent that the costs thereof are included in the rate base of a public utility on which a regulated return is earned.

  • Client Assets means assets which a bank has undertaken to hold for a client (whether or not on trust, and whether or not the undertaking has been complied with);