Reserve Transfer Amount definition

Reserve Transfer Amount means the amount set forth in Section 4.1, which is an amount equal to the unearned premium reserves and the loss reserves of the Company as of the Inception Date (including general reserves, case basis reserves and reserves for Allocated Loss Adjustment Expenses), determined in all instances in accordance with GAAP.
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Reserve Transfer Amount has the meaning ascribed to such term in Section 1.2(a)(iii).
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Examples of Reserve Transfer Amount in a sentence

  • The Reinsurance Premium and the Reserve Transfer Amount shall be considered fully earned when received by the Reinsurer and shall be non-refundable.

  • On or before the Inception Date, the Company shall pay to the Reinsurer the sum of fifty-nine million, four hundred sixty-eight thousand, five hundred and fifty-four dollars ($59,468,554.00) (the “Reinsurance Premium”) plus eight million, thirty-one thousand, four hundred and forty-six dollars ($8,031,446.00) as the Reserve Transfer Amount.

  • In addition to the Reinsurance Premium and the Reserve Transfer Amount, the Company shall pay to the Reinsurer (i) an amount equal to the Net Premiums from Operations collected during each calendar quarter (or part thereof) that this Agreement is in effect, and (ii) an amount equal to all salvage, subrogation and other recoveries collected on or after the Inception Date related to claims paid prior to the Inception Date.

  • The Seller shall prepare and furnish to the Buyer, in writing and prior to the execution of any Novation Amendment, a schedule in respect of each Novated Contract valuing the liabilities and assets to be assumed by the Buyer in respect of such Novated Contract and forming the basis for calculating the portion of the Reserve Transfer Amount attributable to such Novated Contract.

  • On each Transfer Date, the applicable Seller shall pay an amount equal to the Maintenance Reserve Transfer Amount relating to the applicable Aircraft to the applicable Purchaser.