Required Surplus definition

Required Surplus means the amount of Closed Block Business Surplus required to maintain the Closed Block Business' Total Adjusted Capital, expressed as a percentage of the Closed Block Business' Company Action Level RBC, at 100% (for purposes of such calculation, (a) treating the Closed Block Business as if it were a New York domestic stock life insurer and (b) determining the Closed Block Business' Total Adjusted Capital and Company Action Level RBC in a manner consistent with the determination of Closed Block Business Surplus, including the application of Annex A).
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Required Surplus means the amount of surplus applicable to the Closed Block Business within Prudential Insurance that would be required to maintain the quotient (expressed as percentage) of (e) the "Total Adjusted Capital" applicable to the Closed Block Business within Prudential Insurance (including any applicable dividend reserves) divided by (f) the "Company Action Level RBC" applicable to the Closed Block Business within Prudential Insurance, equal to 100%, where "Total Adjusted Capital" and "Company Action Level RBC" are as defined in the regulations promulgated under the New Jersey Dynamic Capital and Surplus Act of 1993 as such are in effect on the Effective Date and without taking in to account any subsequent amendments to such act and regulations.
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Required Surplus means, at any date, the sum, at such date, without duplication, of (a) surplus of the Insurance Subsidiaries and (b) any reserve established and maintained by the Insurance Subsidiaries with respect to their invested assets, either voluntarily or pursuant to requirements of applicable law, the NAIC, the Insurance Department of the State of Connecticut or any other state or federal regulatory authority having jurisdiction over the Insurance Subsidiaries, in each case determined in accordance with SAP.
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Examples of Required Surplus in a sentence

  • Length of Scheduled Shift Shift Pattern Workdays Scheduled Workdays Required Surplus Shortfall i 7 hours, 30 min.

  • Length of Scheduled Shift Shift Pattern Work Days Scheduled Work Days Required Surplus Shortfall 7 hours, 30 min.

  • For these purposes, Required Surplus shall be calculated on the assumption that Total Adjusted Capital to Company Action Level RBC, in each case with respect to the Recaptured Business, shall be 200 percent (Both Total Adjusted Capital and Company Action Level RBC shall be determined as provided in the Risk-Based Capital (RBC) Model Act or the NAIC’s rules with respect thereto in effect as of the Recapture Date).

  • The Appraisal Value of the Recaptured Business shall be equal to the present value (calculated at a 13.5 percent interest rate) as of the Recapture Date of the following values for the Recaptured Business: (a) After Tax Statutory Profits, (b) After Tax Interest on Required Surplus, minus or (c) the Increase or Decrease in Required Surplus, minus (d) the Required Surplus as of the Recapture Date.

  • For these purposes, Required Surplus shall be calculated on the assumption that Total Adjusted Capital to Company Action Level RBC, in each case with respect to the Recaptured Business, shall be 200 percent (Both Total Adjusted Capital and Company Action Level RBC shall be determined as provided in the Risk-Based Capital (RBC) Model Act or the NAIC's rules with respect thereto in effect as of the Recapture Date).

  • Length of Scheduled Shift Shift Pattern Workdays Scheduled Workdays Required Surplus Shortfall iii 7 hours, 45 min.

  • The Appraisal Value of the Recaptured Business shall be equal to the present value (calculated at a 13.5 percent interest rate) as of the Recapture Date of the following values for the Recaptured Business: (a) After Tax Statutory Profits, plus (b) After Tax Interest on Required Surplus, minus or plus (c) the Increase or Decrease in Required Surplus, minus (d) the Required Surplus as of the Recapture Date.

  • The Buyer shall not be required to purchase any Inventory other than the Inventory required to build the products identified in the Six Month Production Schedules or the Required Surplus Items.

  • Aggregate Surplus Finance Charge Amount % % minus Required Surplus Finance Charge Amount /1/ Values for Current Due Period on an Actual Basis reflect, in the case of a first due period close of a tranche of Notes, activity from the close date until the first due period end, or, as in the case of Investor Monthly Interest and certain fees, until the first Monthly Interest Date.

  • In the event that any amount due by the Buyer in respect of the Required Surplus Items Consideration is not paid within thirty days of the due date the amount shall bear interest at twice the Interest Rate until payment of the amount due has been paid in full.

Related to Required Surplus

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Capital Surplus has the meaning assigned to such term in Section 6.3(a).

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”

  • Statutory Surplus means, with respect to any Insurance Subsidiary at any time, the statutory capital and surplus of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, page 3, line 25 of the Annual Statement for the 1995 Fiscal Year entitled "Surplus as Regards Policyholders").

  • Working Capital Surplus means the amount by which the Working Capital is greater than the Target Working Capital Amount.