Loss Experience definition
Examples of Loss Experience in a sentence
The Buyer Actuary will prepare and deliver a report on the adequacy of the DI Reserves in relation to Actual Loss Experience, including a calculation of the difference between the DI Reserves and the Actual Loss Experience (the "DI Claims Report").
The amount by which the DI Reserves are deficient compared to Actual Loss Experience or the amount by which the DI Reserves exceed Actual Loss Experience, as agreed by the parties or reflected in the DI Claims Report (as modified by the Settlement Actuary), in each case discounting the Actual Loss Experience to the Closing Date at a discount rate of 4.5%, are referred to as the "DI Reserve Deficiency" and the "DI Reserve Positive Development," respectively.
The DI Claims Report shall be prepared in accordance with sound actuarial practice, taking into account SAP and the actuarial assumptions and methodologies used by Buyer for SAP financial reporting purposes, and shall set forth in reasonable detail, including the supporting assumptions and methodologies, the actuaries' determination of the amount by which the DI Reserves were deficient compared to Actual Loss Experience or the amount by which the DI Reserves exceeded Actual Loss Experience.
In the event, as finally determined, (A) the Company’s 18 Month Loss Experience, plus the amount of any payment by Buyer to Sellers as described in (i) above or less the amount of any payment by the Sellers to Buyer as described in (i) above, as applicable, exceeds (B) the Medical Claims Reserve, Sellers shall pay the difference to Buyer in cash or via wire transfer of immediately available funds within five (5) business days following final determination of such reconciliation.
In the event the Company’s 180 Day Loss Experience exceeds the Medical Claims Reserve, Sellers shall pay the difference to Buyer in cash or by wire transfer of immediately available funds within five (5) business days following final determination of such reconciliation (as described below).
For the avoidance of doubt, the Company’s 18 Month Loss Experience will not include any reserve estimate for Medical Claims incurred prior to the Effective Date but not reported.
The Partnership shall pay to Panthers BRGP Corporation the "Adjustment Amount," which shall equal: (i) the Trade Accounts Receivable Loss Experience, plus (ii) any negative amount obtained by subtracting from the Net Working Capital set forth on the Closing Net Working Capital Statement: (1) the transaction costs referred to in Section 5.20; and (2) the Premier Club Accounts Receivable Loss Experience.
The originator, the seller and the servicer cannot assure you that the delinquency, repossession or foreclosure experience described under "The Servicer -- Default, Delinquency and Loss Experience" will be representative of the results that may be experienced on the contracts.
In the event the Company’s 180 Day Loss Experience is less than the Medical Claims Reserve, Buyer shall pay the difference to Sellers in cash or by wire transfer of immediately available funds within five (5) business days following final determination of such reconciliation (as described below).
Each of the representations and warranties made by the Partnership, the General Partner and BRMC in this Agreement or pursuant hereto shall expire at the Closing Date, provided however, that with respect to the Trade Accounts Receivable and Premier Club Accounts Receivable "Loss Experience" (defined below), Panther's designee (for example, for purposes of this Article IX, Panthers BRGP Corporation) shall have recourse to the Held Back Interests as set forth in Section 9.2 hereof.