Minimum Capital Contribution definition

Minimum Capital Contribution means, with respect to Insurers who apply to the Board by July 1, 2006, a contribution of New Capital to its Surplus which is at least equal to the amount of the Surplus Note. “Minimum Capital Contribution” means, with respect to all other applicants applying after July 1, 2006 and before June 1, 2007, a contribution to its Surplus that is twice the amount of the Surplus Note. (h) “Minimum Required Surplus” means, for purposes of this Program, that the Insurer’s total Surplus, after the issuance of the Surplus Note and New Capital contribution equals at least $50 million. (i) “Minimum Writing Ratio” means a 2:1 ratio of Net Written Premium to Surplus. (j) “Net Written Premium” means direct Premium plus assumed Premium less ceded Premium. (k) “New Capital” must be in the form of Cash or Cash Equivalents and be recorded as additional paid-in capital or new stock issued. New Capital does not include Citizens Property Insurance Corporation take-out bonuses pursuant to Section 627.3511, F.S. A New Capital contribution does not constitute contributions by the Insurer made prior to the Insurer’s application date for the Surplus Note or any other funds contributed to the Insurer’s Surplus which are made for purposes other than in conjunction with the requirements of the Program. (l) “Surplus Note” means the Surplus Note issued by the Insurer to the Board. (m) “Office” means the Office of Insurance Regulation, which was created in Section 20.121(3), F.S. (n) “Premium” means premiums relating to residential property insurance in Florida including the peril of wind. (o) “Program” means the Insurance Capital Build-Up Incentive Program created by Section 215.5595, F.S. (p) “Substantial Impairment” or “Substantially Impair” means that the Commissioner of Insurance Regulation (Commissioner) has solvency concerns that the Insurer may not be able to meet the obligations of its policyholders and has provided the Board with a written explanation. (q) “Surplus” means the Insurer’s admitted assets less the Insurer’s liabilities and refers to the entire Surplus of the Insurer. THIS SURPLUS NOTE IS SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS:
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Minimum Capital Contribution means, with respect to each Limited Partner the sum of $50,000 as such Limited Partner’s Initial Capital Contribution; provided that the General Partner may, in the exercise of its sole discretion, accept a smaller Initial Capital Contribution from a Limited Partner of not less than $25,000.
Sample 1
Minimum Capital Contribution means, with respect to Insurers who apply to the Board by July 1, 2006, a contribution of New Capital to its Surplus which is at least equal to the amount of the Surplus Note. “Minimum Capital Contribution” means, with respect to all other applicants applying after July 1, 2006 and before June 1, 2007, a contribution to its Surplus that is twice the amount of the Surplus Note.
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Examples of Minimum Capital Contribution in a sentence

  • However, no Additional Assessments may be required before the General Partner's Minimum Capital Contribution has been fully expended.

  • The "Limited Partners' Percentage" is that percentage determined by dividing the amount of the Aggregate Subscription by the total of (i) the General Partner's Minimum Capital Contribution plus (ii) the Aggregate Subscription.

  • Minimum Capital Contribution The Client, availing discretionary or non-discretionary services, shall deposit with the Portfolio Manager, an initial corpus consisting of Securities and /or funds of an amount prescribed by Portfolio Manager, subject to minimum amount as specified under Regulations, as amended from time to time.

  • The Directors may increase or reduce the Minimum Fund Size, Minimum Capital Contribution and/or Minimum Transaction Size, or otherwise extend or shorten the relevant period(s), if in their absolute discretion they consider that the circumstances so warrant.

  • The "General Partner's Percentage" is that percentage determined by dividing the amount of the General Partner's Minimum Capital Contribution by the total of (i) the General Partner's Minimum Capital Contribution plus (ii) the Aggregate Subscription.

  • Subject to the requirements of the Central Bank and the Act, the Directors, at their discretion, shall be entitled to impose such Minimum Initial Subscription, Minimum Capital Contribution, Minimum Subsequent Subscription, Minimum Holding, Minimum Transaction Size, Minimum Fund Size and Minimum Share Class Size, as set out in the Prospectus.

  • Furthermore, the Directors may increase or reduce the Minimum Initial Subscription, Minimum Capital Contribution, Minimum Subsequent Subscription, Minimum Holding and/or the Minimum Transaction Size; if, in their absolute discretion they consider that the circumstances so warrant, subject to the requirements of the Central Bank.

  • In addition to the Trading Member's Initial Contributions referred to at Bye-law (20.9) above, all money, securities, fixed deposits, and other property and things which are now or which may from to time be furnished by a Trading Member towards Base Minimum Capital as specified by the Securities and Exchange Board of India shall be treated as the Trading Member's contribution to SGF (hereinafter referred to as "Trading Member's Base Minimum Capital Contribution").

  • The "General Partner's Minimum Capital Contribution" is that amount equal to the total of (i) all Partnership costs and expenses charged to its account from the time of the formation of the Partnership through December 31, 2003, plus (ii) the General Partner's estimate of the total Leasehold Acquisition Costs and Drilling Costs expected to be incurred by the Partnership subsequent to December 31, 2003, if any, minus (iii) the amount, if any, of the unexpended Aggregate Subscription at December 31, 2003.

  • Shares: Each subscriber of Participating Shares shall be required to make an initial Minimum Capital Contribution as specified in Section III: Executive Summary The Participating Shares being offered to Eligible Investors, shall carry dividend and distribution rights and shall be redeemable at the discretion of the shareholders subject to applicable Lock-In Period and Gating Period.


More Definitions of Minimum Capital Contribution

Minimum Capital Contribution means the smallest amount of money that an individual or organization has to contribute as charter capital to become an official member or contributing member of a cooperative or cooperative union.
Sample 1
Minimum Capital Contribution has the meaning ascribed thereto in Section 7(a)(ii).
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Related to Minimum Capital Contribution

  • Additional Capital Contribution has the meaning set forth in Section 3.02.

  • Initial Capital Contribution has the meaning set forth in Section 4.1.

  • Additional Capital Contributions shall have the meaning set forth in Section 5.3.

  • Initial Capital Contributions has the meaning set forth in Section 3.01.

  • Unreturned Capital Contributions means all Capital Contributions made by a Class A Member less any returned capital.

  • Capital Contributions means, with respect to any Member, the amount of money (US Dollars) and the initial Gross Asset Value of any assets or property (other than money) contributed by the Member (or such Member’s predecessor in interest) to the Company (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to under Code Section 752) with respect to the Units in the Company held or purchased by such Member, including additional Capital Contributions.

  • Capital Contribution means any cash, cash equivalents or the Net Agreed Value of Contributed Property that a Partner contributes to the Partnership.

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Issuer or any Guarantor described in the definition of “Contribution Indebtedness.”

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Capital Commitment means, for any Borrower, the capital commitment of its Investors in the amount set forth in the applicable Subscription Agreements; “Capital Commitments” means all such Capital Commitments, collectively.

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1 of the Agreement.

  • Contribution Amount has the meaning given in subsection 444-90(1A) in Schedule 1 of the Australian Taxation Administration Act 1953 (Cth).

  • Minimum capital or "minimum required capital" means the capital that must be constantly maintained by a stock insurance corporation as required by statute.

  • Class Invested Amount means, with respect to any Class for any Distribution Date, an amount equal to the Class Initial Investor Interest minus the sum of (a) the aggregate amount of payments of Certificate Principal paid to such Class of Investor Certificateholders, in each case prior to such Distribution Date, (b) the aggregate amount of Investor Losses of such Class not reimbursed prior to such Distribution Date and (c) the aggregate amount of losses of principal on investments of funds on deposit for the benefit of such Class in the Series Principal Funding Account, if applicable.

  • Class B Invested Amount means, on any date of determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero.

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Principal Funding Account Balance means, with respect to any date of determination, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Investment Amount means the dollar amount to be invested by Investor to purchase Put Shares with respect to any Put as notified by the Company to Investor in accordance with Section 2.2.

  • Class B Initial Invested Amount means the sum of the aggregate initial principal amount of the Class B Certificates, which is $48,000,000 on the Closing Date, and the aggregate initial principal amount of any Additional Class B Certificates.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Additional Contribution Each Member's pro-rata portion of a Required Amount, determined by multiplying the Required Amount by each Member's Interest.

  • Investment Capital Expenditures means capital expenditures other than Maintenance Capital Expenditures and Expansion Capital Expenditures.

  • Contribution Share means, for any Guarantor in respect of any Excess Payment made by any other Guarantor, the ratio (expressed as a percentage) as of the date of such Excess Payment of (i) the amount by which the aggregate present fair salable value of all of its assets and properties exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate present fair salable value of all assets and other properties of the Borrower and all of the Guarantors other than the maker of such Excess Payment exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of the Borrower and the Guarantors hereunder) of the Borrower and all of the Guarantors other than the maker of such Excess Payment; provided, however, that, for purposes of calculating the Contribution Shares of the Guarantors in respect of any Excess Payment, any Guarantor that became a Guarantor subsequent to the date of any such Excess Payment shall be deemed to have been a Guarantor on the date of such Excess Payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall be utilized for such Guarantor in connection with such Excess Payment. This Section 4.6 shall not be deemed to affect any right of subrogation, indemnity, reimbursement or contribution that any Guarantor may have under applicable law against the Borrower in respect of any payment of Guaranteed Obligations. Notwithstanding the foregoing, all rights of contribution against any Guarantor shall terminate from and after such time, if ever, that such Guarantor shall be relieved of its obligations pursuant to Section 8.4.