Initial Required Balance definition
Examples of Initial Required Balance in a sentence
In addition, if the Estimated Initial Required Balance exceeds the Estimated Initial Premium, on the Closing Date, the Reinsurer will be required to deposit additional Eligible Assets into the Trust Account having a Statutory Book Value at least equal to such excess.
Each of the Initial Premium, Transferred Assets and Initial Required Balance will be determined, adjusted, settled and paid in accordance with Article II of the Master Transaction Agreement.
Each of the Initial Premium and Initial Required Balance will be determined, adjusted, settled and paid in accordance with Article II of the Principal Transaction Agreement.
In addition, if the Estimated Initial Required Balance exceeds the portion of the Estimated Initial Premium transferred to the Trust Account in accordance with Section 3.1(b), on the Closing Date, the Reinsurer will be required to deposit additional Eligible Assets into the Trust Account such that the assets therein shall have a Statutory Book Value at least equal to the Estimated Initial Required Balance and otherwise comply with the requirements [***].
In addition, if the Estimated Initial Required Balance exceeds the Estimated Initial Premium, on the Closing Date, the Reinsurer will be required to deposit additional cash and/or other Eligible Assets into the Trust Account having a Statutory Book Value at least equal to such excess.
In addition, if the Estimated Initial Required Balance exceeds the Fair Market Value as of the Closing Date of the Eligible Assets deposited into the Trust Account in accordance with Section 3.1(c), on the Closing Date, the Reinsurer will be required to deposit additional Eligible Assets into the Trust Account having a Statutory Book Value at least equal to such excess.
Each of the MLIC Initial Premium, Pre-Closing Net Settlement, Transferred Assets, Estimated Initial Required Balance and Ceding Commission will be determined, adjusted, settled and paid in accordance with Article II of the Master Transaction Agreement; provided, that any adjustment applicable to the Pre-Closing Net Settlement shall be determined and settled in accordance with the second Net Settlement hereunder following the Closing Date.
No later than twenty-one (21) days after the Closing Date, the Seller shall deliver to the Buyer a statement (the “Interim Closing Statement”) setting forth the Seller’s updated calculation of each item on the Estimated Closing Statement other than the Asset List, determined as of the Effective Time, including (i) the Closing Date Adjusted Book Value, (ii) the Initial Premium, (iii) the Transferred Asset Value of the Transferred Assets and (iv) the Initial Required Balance.