Gross Reserve definition

Gross Reserve means the amount of the Reported Reserve that would have been held in the absence of any ceded reinsurance. This includes direct and assumed business.
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Examples of Gross Reserve in a sentence

  • This Agreement has been duly executed and delivered by the Company and, subject to such approval, is a valid and binding agreement of the Company in accordance with its terms, subject to laws relating to creditors’ rights generally.

  • The paragraph in Section 20.2 in between the bullet points (outlining certain events) and the guidelines table (outlining Net and Gross Reserve Percentage, such table hereinafter referred to as “Reserve Percentage Table”) is hereby deleted.

  • The adjusted amount to be maintained in the Reserve Account (the “Adjusted Reserve Result”) shall be based upon a Gross Reserve Percentage of [Redacted]or Net Reserve Percentage of [Redacted]whichever figure presents a higher amount at any given time, utilizing an average of the month end Gross Air Traffic Liability and Net Air Traffic liability for [Redacted]reported.

  • The following language is hereby added to Section 20.2 following the Reserve Percentage Table in place of such deleted paragraphs: “In the event a Gross Reserve Percentage from the Reserve Percentage Table is applied in accordance with the forgoing, the Reserve Account will be reviewed and adjusted on a weekly basis, as outlined in Section 20.1 of the Agreement, as amended, and in accordance with the method for adjustments outlined therein.

  • Notwithstanding anything herein to the contrary, in the event CUSTOMER and GUARANTOR do not have a M▇▇▇▇’▇ and/or S&P Corporate Debt Rating, then the Reserve Account will be adjusted, at SERVICERS’ sole discretion, to an amount calculated based upon a Gross Reserve Percentage of [Redacted]is otherwise permitted under the Agreement.