SAP Statement definition

SAP Statement means an Annual Statement or a Quarterly Statement.
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SAP Statement shall have the meaning provided in Section 4.6 hereof.
Sample 1

Examples of SAP Statement in a sentence

  • Except as disclosed in Section 2.26(d) of the Company Disclosure Schedule, the Company Subsidiaries are entitled under applicable Law to take full credit on the applicable Company SAP Statement with respect to any Company Reinsurance Agreement pursuant to which such subsidiary has ceded reinsurance.

  • The Company Subsidiaries are entitled under applicable Law to take full credit on the applicable Company SAP Statement with respect to any Company Reinsurance Agreement pursuant to which such subsidiary has ceded reinsurance.

  • To the Knowledge of the Company, no material deficiency has been asserted in writing with respect to any Company SAP Statement by the domiciliary state insurance department of such filing Company Insurance Subsidiary that has not been remedied.

  • No material deficiencies have been asserted in writing by any Governmental Entity with respect to any Buyer SAP Statement which has not been cured, waived or otherwise resolved to the material satisfaction of such Governmental Entity.

  • Except as described in Schedule 3.10, all reserves and accrued liabilities for estimated losses, settlements, costs and expenses from pending suits, actions and proceedings included in the Company's most recent SAP Statement were determined in accordance with Statement of Financial Accounting Standards No. 5 issued by the Financial Accounting Standards Board.

  • No material deficiencies have been asserted in writing by any Governmental Entity with respect to any Company SAP Statement which has not been cured, waived or otherwise resolved to the material satisfaction of such Governmental Entity.

  • Each Buyer Insurance Subsidiary was entitled to take credit in its most recent Buyer SAP Statement in accordance in all material respects with SAP for that portion of any such Buyer Reinsurance Agreement as to which credit was taken in such statements.

  • Each SAP Statement was timely filed and complied in all material respects with all applicable Laws when filed with the applicable insurance regulatory authority, and any deficiencies known to the Company with respect to any such SAP Statement have been cured or corrected to the satisfaction of such insurance regulatory authority.

  • Except as disclosed in SECTION 4.7 of the Disclosure Schedule, each such SAP Statement complied in all material respects with all applicable Laws when so filed, and all material deficiencies known to Savers with respect to any such SAP Statement have been cured or corrected.

  • Except as disclosed in Section 3.26(d) of the Company Disclosure Schedule, the Insurance Subsidiaries are entitled under applicable Law to take full credit on the applicable Company SAP Statement with respect to any Company Reinsurance Agreement pursuant to which such subsidiary has ceded material liabilities (including retrocessions).

Related to SAP Statement

  • Annual Statement means, with respect to any Insurance Subsidiary for any fiscal year, the annual financial statements of such Insurance Subsidiary as required to be filed with the Insurance Regulatory Authority of its jurisdiction of domicile and in accordance with the laws of such jurisdiction, together with all exhibits, schedules, certificates and actuarial opinions required to be filed or delivered therewith.

  • Statutory Statement means a statement of the condition and affairs of an Insurance Subsidiary, prepared in accordance with accounting procedures and practices prescribed or permitted by an applicable insurance regulatory authority or the NAIC, as modified in accordance with permitted practices approved by an applicable insurance regulatory authority, and filed with an applicable insurance regulatory authority or the NAIC.

  • Quarterly Statement means the quarterly statutory financial statement of any Insurance Subsidiary required to be filed with the insurance commissioner (or similar authority) of its jurisdiction of incorporation or, if no specific form is so required, in the form of financial statements permitted by such insurance commissioner (or such similar authority) to be used for filing quarterly statutory financial statements and shall contain the type of financial information permitted by such insurance commissioner (or such similar authority) to be disclosed therein, together with all exhibits or schedules filed therewith.

  • Pre-Contractual Statement means any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether party to this agreement or not) relating to the Engagement other than as expressly set out in this agreement or any documents referred to in it;

  • Audited financial statement means a financial statement audited by an outside accounting firm.

  • Year-End Financial Statements has the meaning specified in Section 4.5.

  • Statutory Statements means, with respect to any Regulated Insurance Company for any fiscal year, the annual or quarterly financial statements of such Regulated Insurance Company as required to be filed with the Insurance Regulatory Authority of its jurisdiction of domicile and in accordance with the laws of such jurisdiction, together with all exhibits, schedules, certificates and actuarial opinions required to be filed or delivered therewith.

  • Annual Financial Statement is defined in Section 10.1(a).

  • Interim Statements means the quarterly financial statement of any insurance company as required to be filed with the Department, together with all exhibits or schedules filed therewith, prepared in conformity with SAP. References to amounts on particular exhibits, schedules, lines, pages and columns of such interim statements are based on the formats promulgated by the NAIC for 2012 interim statements for the applicable type of insurance company. If such format is changed in future years so that different information is contained in such terms or they no longer exist, it is understood that the reference is to information consistent with that recorded in the referenced item in the 2012 interim statement of the insurance company.

  • Statutory Financial Statements means, with respect to any Party, the annual and quarterly statutory financial statements of such Party filed with the Governmental Authority charged with supervision of insurance companies in the jurisdiction of domicile of such Party to the extent such Party is required by Applicable Law to prepare and file such financial statements.

  • audited when used in regard to financial statements shall mean an examination of the financial statements by a firm of independent certified public accountants in accordance with generally accepted auditing standards for the purpose of expressing an opinion thereon.

  • Buyer Financial Statements shall have the meaning set forth in Section 4.6.

  • Parent Financial Statements has the meaning set forth in Section 4.6(a).

  • NAIC Annual Statement is defined in Section 6.2(a).

  • Seller Financial Statements has the meaning set forth in Section 3.5(a).

  • Financial Statement Date means December 31, 1999.

  • Company Audited Financial Statements has the meaning set forth in Section 3.11.

  • Target Financial Statements has the meaning set forth in Section 3.4.

  • Interim Financial Statements has the meaning set forth in Section 3.06.

  • Quarterly Financial Statements is defined in Section 6.2(a).

  • Explanatory Statement means the explanatory statement which forms part of the Notice;

  • Unaudited Financial Statements has the meaning set forth in Section 3.4(a).

  • Financial Statement has the meaning set forth in Section 4(g) below.

  • Audited financial report means and includes those items specified in Section 5 of this regulation.

  • Company Interim Financial Statements has the meaning specified in Section 4.08(a).

  • Monthly Financial Statements is defined in Section 6.2(c).